Enjoy a competitive rate that moves with the market.
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Unlock the potential of your home with a Home Equity Loan
Access the equity in your home to fund renovations, consolidate debt, or achieve other financial goals. Our Home Equity Loan offers competitive rates and flexible terms, allowing you to leverage your property's value for your financial needs.
7.24
%
p.a.
Interest rate
7.33
%
p.a.
Comparison rate
Why choose our Home Equity Loan?
Who is this loan ideal for?
Our Home Equity Loan is ideal for homeowners who want to access the equity in their property to fund major expenses. Whether you're planning renovations, investing, consolidating debt, or covering education or medical costs - this loan offers a flexible way to make the most of what you've built. It’s a smart option for those with a strong repayment history and long-term financial goals.
Product Features:
Home Loans |
|
|---|---|
| Minimum Loan Amount : | $10,000 |
| Loan Period : | Up to 30 years |
| Repayments : | Weekly, fortnightly or monthly |
| Interest Charges : | Calculated daily, charged monthly |
| Interest Only : | Yes |
| Establishment Fee : | $395 plus associated Legal and Valuation fees (at cost) |
| Account Keeping Fees : | Nil |
| Flexible and Lump Sum Repayments : | Yes |
| Early Repayment without Penalty : | Yes |
| Redraw facility : | Yes, (free redraw, minimum amount $100) |
| Top up facility available : | Yes - No minimum amount |
| Interest rate | Comparison rate | |
| Home Equity Variable Loan | 7.24% p.a. | 7.33% p.a. |
| Document or Information | View or Download |
| Fees, charges and limits | Learn more → |
| Target market determinations | Learn more → |
| Interest rates | Learn more → |
| Important documents | Learn more → |
| Calculators | Learn more → |
Start your application today
Apply online, visit a branch or call us today to speak with a lending specialist. We’re here to help you make your home ownership journey smooth and affordable.
FAQs
Got a question on Home Loans? View all our FAQs here.
The Credit Union is a mutual financial services organisation and as such is owned by its Members, each one of whom is a shareholder. Therefore you must be a member of the credit union to have a loan.
The amount you can borrow is dependent on the type of loan you apply for. The actual amount you can borrow is, however, determined by your ability to meet the repayments of the loan and the value of the loan security. Want to calculate how much you could borrow? Use one of our loan calculators.
The Credit Union gives you the option of making extra repayments on your loan and therefore save money in interest changes and than having the flexibility of being able to redraw on these extra repayments. You need to have your loan in advance by at least your next agreed loan repayment plus $100 and the minimum redraw is $100. Redraws are Free!
Why Transport Mutual?
We’ve been helping transport workers, their families, and the wider community reach their financial goals for over 50 years. As a member-owned credit union, everything we do is designed to benefit you - not big bank profits.
