Start your home loan journey here
Buying your first home can be a daunting prospect and, for many people, more challenging than ever. That’s why we’ve got the important information you need in one place, including a whole range of options to help you own your own home sooner.
Find out moreWhether you’re a first-time investor or a seasoned professional, we’re here to help you buy an investment property with confidence.
Find out moreYou don’t have to live with a high interest rate. By refinancing to a Great Southern Bank Home Loan, you could pay your mortgage off sooner with a competitive rate and no monthly or annual fees.
Find out moreWe could assess your income using just your two most recent Notices of Assessment if you're an individual, your business has been trading for at least two years and you're looking to borrow up to 80%.
Find out moreWe understand that stepping onto the property ladder is harder than ever. Although an extended loan term of up to 40 years may not be a realistic option for everyone, it is one pathway to homeownership we now offer.
Find out moreThere are government schemes designed to help you onto the property ladder. Whether you’re a first-time buyer or single parent, you may only need a two percent or five percent deposit helping you buy your home sooner.
Find out moreCompare Home Loans
Still deciding? Find out more and compare home loans here.
Apply for a home loan
Whatever your investment plans, our team of specialists can help guide you through the process step by step.
Complete the form and we’ll connect you with one of our experienced Home Loan Specialists to discuss your goals, eligibility and next steps.
When you’re ready, we’ll help you prepare and submit your application.
Your specialist will guide you through the rest of the process from approval to settlement, including how to sign your loan documents digitally.
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Home loans explained
Find the answers to our frequently asked questions here.
Great Southern Bank is the trading name of Credit Union Australia Limited. You may have previously known us as CUA.
For over 75 years we’ve helped our customers manage their money. We do this by providing clever products and smart tools that help you reach your financial goals sooner. Plus, being customer-owned means that our profits go back into our products and services, not shareholders
We love helping people reach their financial goals and we can’t wait to help you reach yours, whatever they may be. Contact us to get started, we’re here to help!
Home loan repayments are almost always calculated on a monthly basis. You can pay into your home loan account weekly or fortnightly, but the contracted repayment frequency remains monthly.
To make sure you stay on track to pay off your home loan in the contracted term, we periodically review and recalculate your loan repayment amount.
A recalculation of your repayment amount can happen for a number of reasons. These include:
- If the interest rate on your loan increases or decreases.
- If your loan’s rate has been fixed and the fixed rate period ends.
- Your loan has an introductory rate or interest-only payments for a set period, and this period ends.
Your choices can also result in a change. For example:
- You move from a variable to a fixed rate loan (or vice versa).
- You switch from an interest-only to a principal & interest loan (or vice versa).
- You make a lump-sum payment and ask us to clear your advance payments (i.e. the amount is not available to redraw).
- You request a change to the repayment frequency.
If your rate is changing or you're thinking about making changes to your loan, you can use our handy calculators to give you an estimate of the impact on your minimum repayment amount.
For more information and advice on loan repayments, drop into your local branch or call us on 133 282.
We use a method called monthly amortisation to calculate your repayments. This means your repayment amount is based on a monthly average of 31 days and is charged on the same day each month. Interest charges are calculated on your home loan balance daily and charged at the end of the month. The interest is debited on the last day of the month, and you can view your interest debits in online or mobile banking.
If your deposit is less than 20% of the property’s value, most financial institutions will require Lenders’ Mortgage Insurance (LMI). LMI is taken out to protect the lender in case of default. It’s a one-off cost and is generally included in the total value of the loan.
The loan-to-value ratio (LVR) is the amount of the loan compared to the value of the property. The higher deposit you have, the lower your LVR will be.
LVR is expressed as a percentage. For example, if the home you'd like to buy is valued at $400,000 and you need to borrow $320,000, the LVR would be 80% (i.e. $320,000 divided by $400,000).
The LVR is based on the bank’s valuation of your property (which may differ from the amount you paid on the contract). From a lender’s perspective, the higher the LVR, the higher the cost and risk to the lender, which is why you’ll often see higher rates for higher LVR applications. Apart from getting a better rate, having an LVR of 80% or lower also means you could avoid paying Lenders Mortgage Insurance (LMI).
A comparison rate will help you identify the true cost of the loan, which includes the interest rate plus all the relevant fees and charges for a loan. Comparison rates are useful when comparing different home loans to find the best deal. However, it’s always worth bearing in mind that the advertised comparison rate for a loan will be based on a sample loan amount and term.
- What documents do I need to provide for income verification?
To apply you will need to provide your two most recent Notices of Assessment (NOA). If you're applying after 1 March, one of the NOAs you need to supply must be from the year immediately prior.
- What if my income has changed between my two Notices of Assessment (NOA)?
If your income has increased by up to 50% between your last two NOAs, we'll use the income on the most recent one, as long as it's accompanied by a satisfactory explanation of its sustainability.
- If year-on-year income has increased by more than 50%, we'll use the average of the last 2 years' income. Otherwise, if the income has decreased, we'll use the income on the latest year's NOA.
- Can I include other income sources besides my self-employed income?
Yes, income can be from a combination of self-employed and PAYG and can include wages, dividends and distributions from a company and/or trust. Rental income is not acceptable under this policy except where the rental income is part of the application for the purchase of a new investment property.
- What do I need to be eligible for this policy?
To be eligible for this policy, you will need to:
- Earn income from a business that is wholly or partly owned by you.
- Your business has been trading for a minimum of two years
- Have a maximum of two directorships.
- Have a maximum LVR of 80%.
- What if I don't meet the eligibility criteria for the simplified self-employed policy?
We can assess you under our standard self-employed policy. This policy is applicable to sole traders, partnerships, company and trust borrowers. Speak to your Home Loan Specialist for further information including eligibility criteria.
Why choose Great Southern Bank?
We’re customer owned, so our profits go towards delivering better products and services rather than to shareholders. We believe it’s a more transparent way of doing things and why we’ve been trusted by Australians for more than 75 years.
Rates are current as at 11 September 2026 and subject to change.
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions, and fees apply. Applications are subject to credit approval.
^ Comparison rate accurate for $150,000 secured loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
* Repayment is indicative only based on the stated information. Changes in interest rates, repayment frequency and loan term will affect the repayment amount. The calculations do not take into account fees, charges or other amounts that may be charged to the loan (such as establishment fees and security administration fees). If you are borrowing more than 80% of the value of the property, Lenders’ Mortgage Insurance may apply. Any of these additional amounts will increase the repayments under the loan. Calculations are not a loan approval. Applications are subject to credit approval, satisfactory security, and minimum deposit requirements. Conditions apply to all loan options.
1 Discounts off the Basic Variable and Offset Variable Reference Rate are available to (a) new home loans with a minimum application amount of $100,000; or (b) switching or restructuring of the home loan you already have with us when it includes new borrowing of at least $10,000; for new home loan applications unconditionally approved on or after 11 September 2026. Published interest rates are inclusive of any discounts off the respective Reference Rates. Interest rates and discounts vary based on the loan purpose (owner occupier and investor), repayment type (principal and interest, interest only, construction) and Loan to Value Ratio (LVR). Maximum LVR applies and includes Lenders' Mortgage Insurance and Great Southern Bank loan setup fees where applicable.
2 Great Southern Bank may withdraw or amend this offer at any time without notice. A change in your loan purpose, your repayment type or your loan product will permanently end your entitlement to the discount.
3 LVR means ‘Loan to Value Ratio’. It is the amount of your loan divided by the valuation of your property, calculated as a percentage. For example, if you apply for a loan of $400,000, which will be secured by a property valued at $500,000, your LVR is 80%. We calculate your LVR at the time we approve your loan and your discount won’t change because of changes to the LVR during the life of your loan.
4 For Interest Only loans, a maximum interest only period of 36 months applies for owner occupier loans and 60 months for investment loans. For Fixed Rate loans, the interest only period must align with the fixed rate period. On expiry of the Fixed Rate interest only period, loans will revert to the Basic Variable Principal and Interest Owner Occupier or Investor Reference Rate (as applicable) which applies at the time of expiry. On expiry of the Basic Variable interest only period, loans will revert to the Basic Variable Principal and Interest Owner Occupier or Investor Reference Rate (as applicable) which applies at the time of expiry, less any discount set out in the loan contract. On expiry of the Offset Variable interest only period, loans will revert to the Offset Variable Principal and Interest Owner Occupier or Investor Reference Rate (as applicable) which applies at the time of expiry, less any discount set out in the loan contract. Comparison rate for Interest Only loan is based on interest only payments for the fixed term and principal & interest payments for the balance of the term.
5 A $200 minimum withdrawal amount applies for redraws conducted in-branch.
6 You must maintain a minimum balance of $500 in each offset account to obtain an offset benefit. You will also not receive any interest on the funds in your offset accounts.
7 A daily transfer will refund any amounts paid in advance in excess of the total advance repayments allowed during the fixed rate period ($30,000) unless sufficient to pay out the loan in full (in which case an Early Payout Cost may apply). Excess funds will be transferred to the nominated deposit account, which must remain open for the fixed rate period.
8 An Early Payout Cost may apply if the loan is terminated during the fixed rate period. A partial Early Payout Cost may apply if a reduction to the principal is requested during the fixed rate period. Click here to view the Early Payout Cost Factsheet.
9 Fixed Rate loans are available to (a) new home loans with a minimum application amount of $100,000; or (b) switching or restructuring of existing home loans. Maximum Loan to Value Ratio applies and includes Lenders' Mortgage Insurance and Great Southern Bank loan setup fees where applicable.
10 On expiry of the fixed rate period, the loan reverts to the Basic Variable Reference Rate relevant to your loan purpose and repayment type which applies at the time of expiry.
11 Fixed Rate Lock is available to new applications from 27 April 2022. Great Southern Bank will apply the fixed interest rate applicable on the day of settlement unless a completed Fixed Rate Lock request form is received by us before the unconditional approval of your loan application. Fixed Rate Lock is a feature that allows customers to lock in the applicable fixed interest rate from the date we process your request, which will be once your application is submitted with all supporting documents, and you will be protected against interest rate rises for 90 days from such date. A non-refundable Fixed Rate Lock Fee applies to each fixed rate loan that is locked, refer to our Lending Schedule of Fees for the fee amount. On expiry of the fixed rate period, the loan reverts to the Basic Variable Reference Rate relevant to your loan purpose and repayment type which applies at the time of expiry. Full terms and conditions apply and are available here.
12 The Boost is not available on business accounts.
~Cashback offer available for Eligible Applicants who apply for an Eligible Loan between 1 September 2026 and 1 February 2027. To be an Eligible Applicant you must be an Australian resident aged 18+. An Eligible Loan is a loan that is a refinance of an existing home loan from another financial institution to Great Southern Bank or an investment property loan with Great Southern Bank. The Offer is only available for applications submitted directly to Great Southern Bank and is not available for applications submitted through a broker or other third party. To be eligible, the loan must be for a total loan amount of at least $400,000, have a loan to value ratio of 90% or less and be approved and funded on or before 30 June 2027. Great Southern Bank will pay a Cashback Payment of $2,000 for Eligible Loans between $400,000 and $699,999 and a Cashback Payment of $3,000 for Eligible Loans of $700,000 or more. For Eligible Loans with multiple borrowers, only one Cashback Payment will be paid.
Full terms and conditions are available at: www.greatsouthernbank.com.au/cashback-terms-and-conditions.
To view the Target Market Determination for this product, please click here.
Fixed Rate Lock lets you lock in your interest rate during the home loan application process, instead of having to wait until settlement day.
If you've applied for a fixed rate home loan and you're interested in Fixed Rate Lock, contact your Home Loan Specialist to discuss completing a request form.
If your request is accepted, the applicable interest rate on that day will be locked in for 90 days with a fee payable.
If you’re in the market for a property but aren’t sure if you can get the home loan you need, pre-qualify can make your path forward clearer.
Use pre-qualify to tell us how much you want to borrow, your income, debts and expenses. We’ll give you a good indication of what you may be able to borrow.
- Pre-qualify for free
- There’s no commitment
- No credit checks
- You’re done in five minutes
What’s the difference between pre-approval and pre-qualify?
Think of pre-qualifying as the free sample you get at an ice-cream shop. There’s no commitment. You’re just discovering what’s on offer to you.
Pre-approval is when you’re serious about buying. You formally apply for a home loan and give us detailed information about your financial and employment situation. We also run a credit check to review your credit history. You’ll end up with a definitive amount that you can borrow so you can start making offers on properties. Learn more about applying for pre-approval.