faqs

FAQ - Home Loans


FAQ - Home Loans - EasyStreet

Who can apply for Easy Home?
How do I apply for a home loan online?
What information will I have to provide in my Easy Home application?
What happens after I have applied?
How much deposit do I need?
What properties does Easy Home not apply to?
Am I eligible for the First Home Owners Scheme?
How do I make repayments on Easy Home?
How do I pay off my home loan faster?
How often will I receive a statement of my account?


Who can apply for Easy Home?



To apply for Easy Home you will need to be:

  • An Australian resident
  • At least 18 years of age


How do I apply for a home loan online?



Applying is simply a matter of answering a number of questions asked in the Easy Home online application process. The information will be captured in a secure form, and once we have received the application, it will be reviewed by our loan assessors.


What information will I have to provide in my Easy Home application?



  • Your salary and details of any other income, such as rent or dividends
  • If you are self-employed, your income figure from your last years tax return
  • Your current employer's details (name, address and phone number)
  • If you have not been in your current job for three years, the details of your previous employment
  • Your driver's licence number
  • If you have not been living at your current address for at least three years, the details of your previous address
  • Details of your assets and liabilities including home and other property values, the values of your savings and investments, shares, life insurance, motor vehicles and personal effects
  • If you are buying your home and have a mortgage, the details of the monthly payments
  • If you are renting or boarding, the details of your landlord/real estate agent's name and contact number
  • Details of all your monthly financial commitments (payments made for other loans/credit cards/store accounts, etc)

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What happens after I have applied?



After you apply we will contact you by telephone or e-mail to acknowledge receipt of your application. We will then email you as soon as possible to let know the result of your application. This is usually within 48 hours.

Our mobile lenders will then make arrangements with you to sign your loan documentation and receive your funds.


How much deposit do I need?



You will need at least 5% of the value of the property as a deposit, plus you will need to cover other costs such as valuation, legal costs and mortgage stamp duty


What properties does Easy Home not apply to?



Easy Home cannot be used for owner-builder properties, to purchase vacant land, or for rural properties greater than 10 hectares. If you are unsure if the property you are considering qualifies, please contact us or call Easy Street Direct on 1300 13 14 65.

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Am I eligible for the First Home Owners Scheme?



If the property you are considering will be the first home you have ever owned (both by yourself or with a partner), then you are more than likely eligible to apply.

If you are purchasing a home that has already been occupied, the grant is $14,000 until 30 June, 2009. If you are purchasing a brand new home, the grant is $21,000 until 30 June 2009.


How do I make repayments on Easy Home?



Repayments can be made by automatic direct debit (External Debit) from a nominated bank account (subject to account restrictions). You can also arrange a direct credit from your salary, or make a transfer from your Easy Savings Account if you have one.

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How do I pay off my home loan faster?



By increasing the frequency of your repayments, you can reduce the principal of your loan faster, thereby reducing both the amount of interest you pay and the term of your loan.

To work out exactly how much you could save, check out our Extra Repayments Simulator.

You will not incur a penalty for early payout of your home loan.


How often will I receive a statement?



If you have a home loan with Easy Street, we will issue you with a statement every 4 months.

Account information is also available by accessing your Account through Easy Street Internet Banking.


Still not sure?



We've attempted to answer a range of common questions here, but if you're still not sure, you might like to contact us so that one of our friendly staff can answer any additional questions.

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