Homeloans Accerelate Red Homeloans Accerelate Red LVR >85% up to 90%

  • 6.54%
    p.a Standard Variable
  • 6.62%
    p.a Comparison**
  • $999
    Upfront fees
  • $180
    Annual fees
  • 90%
    Max Lvr
  • $2,387
    Per Month*

About Homeloans

Homeloans has provided Australians with an alternative to banks for their home finance since 1985. They specialise in home loans, and have a wide range of products to meet the needs of all customers, from first home buyers to investors. Homelaons were listed on the Australian Securities Exchange (ASX) in 2001, and today their major shareholders include National Australia Bank and Macquarie Bank. They pride themselves on quality award-winning service.

Standard Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
rate per annum

Loan to Value Ratio

Borrow up to the maxium of 90% of the value of the property.

Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.

However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.

Capitalise LMI


For ["Construction", "Investment", "Owner Occupied", "Vacant Land"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

10 - 40 years


The level of financial documentaion and credit history required to apply for the loan.

Full Doc
Credit History
Genuine Saving
Not Required

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
Min Redraw
Redraw fee

Banking Features

Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.

Some features you may wish to consider include:

  • an offset account;
  • ability to make extra repayments;
  • a redraw facility; and
  • linked credit card and savings accounts;
  • ability to split your loan between fixed and variable interest rates
Offset Account
Redraw Available
Credit Card
Internet Banking
Telephone Banking
BPay Option
Portability of Loan
Professional Pack
Check Account
Direct Salary Credit
Free Transactions
Minimum Redraw
Redraw Fee


You can make your repaments Fortnightly, Monthly, and Weekly.

Interest Only Option
Max Interest Only
5 years

Upfront Fees

Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.


Ongoing Fees

Monthly and annual fees and charges during the loan period.

Ongoing Monthly

Exit Fees

Fees associated with prematurely ending the loan.

Early Repayment
Switch To Fixed


Homeloans is offering a new Risk Fee promotion on Accelerate Red and Accelerate Specialist applications submitted between 19 September 2016 and 16 November 2016. - 0.25% off Risk Fees up to 65% LVR - 0.50% off Risk Fees >70% LVR The Homeloans Accelerate Red product has been designed for borrowers who don’t meet strict credit scoring criteria yet have a history of managing their debts well. Offering a competitive rate and flexible features, the Accelerate Red is available both as a lo doc for self employed borrowers or business owners or a full doc for those borrowers who have a number of debts to be consolidated, or just need their application to be considered on its merits rather than a credit score. The product is ideal for either self-employed small business owners or PAYG borrowers looking to buy or refinance their home or investment property and obtain cash out for business purposes including refinancing ATO or high cost overdraft debts, purchasing equipment and working capital requirements. Key Benefits: - No Lenders Mortgage Insurance – LMI Waiver Fee applies to all loans - Unlimited adverse credit (paid or unpaid) when registered >24 months prior to application - Minor defaults <$1,000 ignored - No limit on the number of debts that can be consolidated - Available for refinance, including Non-Conforming, Private and Solicitor Loans - No genuine savings required - Child support and Family A & B benefits accepted with no age restrictions - Unlimited Cash out up to 85% for acceptable business purposes including Payout ATO debts, Working Capital and Purchase of business equipment. LVR <80% stated purpose on statutory declaration. LVR >80% verification at underwriter’s discretion. - Loan terms available up to 40 Years - Discharged Bankrupts 1 Day considered - No Mortgage Arrears Loan Statements: 6 monthly Loan Increases: Available after 6 months Income Documentation: PAYG - Last 2 payslips plus either letter from employer or latest Group Certificate Self Employed - Last 2 years tax returns plus 2 years tax assessment notices

LVR Notes

Refinance LVR 90% Construction (max loan $850k, cat 1 and 2 with max land size of 5 acres, OO only) LVR 90% Vacant Land (max loan $650k, cat 1 and 2 only up to 2.5 acres) LVR 85% Debt consolidation - no limits LVR 90% Cash out - Unlimited Cash Out for acceptable business purposes including payout ATO debts, working capital and purchase of business equipment. LVR 85% Maximum loan amount <65% - $2,000,000 65-70% - $1,500,000 70-75% - $1,250,000 75-80% - $1,250,000 80-85% - $1,000,000 85-90% - $750,000 90-95% - $650,000 Construction maximum LVR 90% Construction max loan $850,000

Fee Notes

LMI Waiver Fee (Standard) <65% - 0.00% 65-70% - 0.50% 70-75% - 0.75% 75-80% - 0.75% 80-85% - 1.05% 85-90% - 1.25% >90% - 1.50% (0.50% reduction until further notice) LMI Waiver Fee (Construction) Clear: <65% - 0,50% 65-70% - 1.00% 70-75% - 1.25% 75-80% - 1.25% 80-85% - 2.00% 85-90% - 4.00% Near Prime: <65% - 1.75% 65-70% - 1.75% 70-75% - 1.75% 75-80% - 2.00% 80-85% - 3.00% 85-90% - 4.50% Title Protection Fee $400 Construction application fee $1,200 Valuation a

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided