Auswide Bank offers home loans suitable to customers who either prefer a no-frills basic option or a fully featured package bundled with other banking products.

It caters to owner occupiers and investors looking for variable or fixed rate mortgages. Customers seeking to leverage their home equity can also find flexible loan products from the bank.

Auswide Bank's home loan rates are fairly competitive, often ranking among market-leading offers. Its mortgage products also typically come with features that promote flexibility, including modifiable repayment schedules and a redraw facility.

Owing to its small-scale operations - relative to other big lenders - and community-focused approach, the regional bank is highly regarded for its personalised and responsive service. Many customers praise Auswide's friendly and helpful staff. Though challenges involving limited in-person services in certain areas are noted.

Home Loans Available at Auswide Bank

Basic Home Loan

What is it: A variable rate home loan offering zero ongoing fees and features that promote flexibility.

Suitable for: Residential and investment home loan borrowers looking for uncomplicated mortgage product with key features that help pay off loan earlier.

Features:

• Low variable rate

• Zero monthly fees

• Additional repayments allowed

• Redraw facility

• Principal and interest (P&I) and interest-only (IO)

• Maximum LVR 90% (LMI included for over 80%)

Freedom Package Home Loan

What is it: A fully featured package home loan available at fixed or variable rates. It comes with a range of features, including an optional 100% offset account, a transaction account, and a low rate Visa credit card. An annual package fee applies, and rates are typically higher than the Basic Home Loan.

Suitable for: Borrowers looking for a mortgage with an offset account to reduce interest paid. The Freedom Package is also ideal for customers looking to save on everyday banking fees and credit card fees. It's also Auswide's only option for clients looking for a fixed rate home loan.

Features:

• Available in either fixed or variable rate

• Additional repayments allowed

• Redraw facility

• 100% mortgage offset account (fees waived)

• Everyday Access transaction account (fees waived)

• Low rate Visa credit card (annual fee waived)

• Other fees (i.e., establishment fee, valuation fee, etc.) are waived

• Principal and interest (P&I) and interest-only (IO)

• Maximum LVR 95% (LMI included for over 80%)

Line of Credit Freedom Package

What is it: A flexible line of credit for homeowners who want to borrow against their home's equity to finance large expenses such as home renovation, a new car, or another property. It carries higher interest rates in return for the flexibility of the loan.

Suitable for: Owner occupiers or investors who have enough equity in their home and are looking to access funds without applying for a new home loan.

Features:

• Variable rate

• Up to 80% property valuation for owner occupied homes

• Up to 90% valuation for investment properties

• Flexible repayments (below approved credit limit)

• Everyday Access transaction account (fees waived)

Fees Charged to Customers

Auswide Bank home loan fees vary depending on the product.

These are correct at the time of writing and are subject to change.

How to Apply for a Home Loan with Auswide Bank

Interested borrowers can apply online via Auswide Bank's website, over the phone by speaking to a lending consultant, or in person at any branch.

Applicants must meet the standard personal identity and income source requirements to be eligible for the bank's home loans.

Borrowers must be:

• At least 18 years old

• An Australian citizen or permanent resident

Details and documents required:

• Driver's licence or passport

• Birth certificate or citizenship certificate

• Medicare, Centrelink, or DVA card

• Two recent payslips or bank statements showing salary credits

• Recent PAYG summary (for casual workers)

• Tax returns and notice of assessment (for self-employed)

• Proof of other sources of income

• List of assets

• List of current debts

After applying, would-be borrowers may receive a pre-approval with an estimate of how much they can borrow based on a preliminary review of their details. Customers may also use the calculators on the site to assess their borrowing power and potential repayments.

Once approved, Auswide Bank will extend the loan offer outlining the terms and conditions. As with other lenders, approval time varies on several factors including the complexity of the application, the completeness of documents provided, and the bank's current processing workload.