Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of .
Easy Street Financial Services is a division of Sydney’s largest community-based credit union, Community First Credit Union, which operates exclusively online and is owned by its members. With no shareholders and reduced overheads, Easy Street can pass savings directly to its customer base. It has over 75,000 active members and manages assets in excess of $700 million. Total deposits of up to $250,000 per account-holder with Community First (including accounts held under Easy Street) are protected by the Financial Claims Scheme.
Easy Street has no branches or offices – its advanced suite of services is only available online. This means it can be fast and flexible at all times. If you have any questions, you can always email Easy Street at firstname.lastname@example.org or call 1300 13 14 65. Its customer service is open from 8am to 8pm on Mondays to Fridays and 8am to 3pm on Saturdays. Its mobile banking app also lets customers access most of the features available through its internet banking facility. In spite of having no branches, Easy Street customers have access to a network of over 3500 ATMs nationwide.
Easy Street provides a range of products designed to be managed online for your convenience. These include credit cards, access and savings accounts, personal loans, home loans and insurance products. In terms of home loans, it offers options for first home buyers, investors and upgraders, as well as additional features such as offset accounts and redraw facilities. It also offers different interest rates depending on whether you want to take out a standard variable-rate mortgage, a one-year, two-year or three-year fixed mortgage.
Because Easy Street is a member-owned organisation, you will need to become a member before you take out a home loan, which involves putting in an application and paying a small fee for a membership share. When you become a member, you will only pay $2 for your member share, which will entitle you to one vote as a shareholder. As part of the application process, you will be encouraged to calculate how much money you can afford to borrow before committing to your application.
When you go ahead and apply for a home loan with Easy Street, you will need to provide the following details:
- Employment details – including your salary
- Details of any other income – such as rent or share dividends
- Your employer's contact details
- Details of your assets and liabilities
- Details of any other financial commitments – such as other loan or credit card repayments