Resimac is one of Australia's longest-established non-bank mortgage lenders, active since the 1980s. They offer a range of home loans including prime products for standard borrowers, specialist products for those with previous credit issues, and solutions for self-employed borrowers who may have difficulty documenting income.
Rates on prime products are competitive with major banks, typically starting around 5.5%-6.5% p.a. depending on LVR and loan structure. Specialist and impaired credit products carry higher rates, typically in the 7%-9% range, but provide access to home ownership for borrowers who cannot qualify elsewhere.
Loan terms run up to 30 years. LVR can go up to 95% on prime products (subject to lenders mortgage insurance). Resimac distributes its loans through mortgage brokers rather than direct branches. If you work with a broker, they can compare Resimac against other non-bank and bank lenders.
