Homeloans Optima Homeloans Optima LVR 80% up to 90% (Principal & Interest) (Owner Occupied)

  • 3.98%
    p.a Standard Variable
  • 4.07%
    p.a Comparison**
  • $363
    Upfront fees
  • $198
    Annual fees
  • 90%
    Max LVR
  • $1,860
    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, Equity, and Owner Occupied in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.

1 - 30 years


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

Full Doc
Credit History
Genuine Saving

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 repayments Fortnightly and Monthly.

Interest Only Option
Max Interest Only
0 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 Yearly

Exit Fees

Fees associated with prematurely ending the loan.

Early Repayment
Switch To Fixed


Product Overview: The Homeloans Optima product has all the essentials for a home loan for purchase, refinance and debt consolidation with a competitive interest rate. There is also an option for an Offset package designed for home buyers and investors who want a flexible home loan solution with an Offset facility. This is a fully transactional loan enabling you to pay off your loan while maintaining flexibility. Loan Purpose: - Purchase - Refinance - Debt Consolidation - Cash Out – where LVR >80% limited to 5% of refinance amount, max $100K or 20% of security value – whichever amount is lowest) - Construction – Minimum servicing ratio must be 1.00, Offset unavailable during construction period, max loan $1M Offset: - 100% Offset facility - Unlimited FREE transactions per month - If multiple loan splits, the Offset account can only be linked to one split Fixed Rate Option: - 1-5 year fixed options available - Additional repayments up to 5% max in a 12 month period - Free rate lock available for loans formally approved and is valid for 90 days - Offset facility unavailable - Redraw facility unavailable. Rate Conversion: - Borrowers may apply to convert to a fixed rate at any time and rate conversion fee may apply - At the expiration of the fixed term, the loan reverts to the standard variable rate Redraw: - Internet banking min redraw and fees $0 - Client services/Telephone min redraw $0 fee $50 Loan Increases: Available – fees, charges and conditions apply

LVR Notes

95% inclusive of LMI cap for o/o purchase P&I repayments only 90% inclusive of LMI cap for investment purpose, refinance, cash out and construction


5% Genuine Savings required where LVR >85%.

Fee Notes

Valuation cost nil for standard val, non-standard vals at cost. Construction Admin Fee $999 for all loans regardless of building contract value.

*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