How are we different?

Get Rewarded with personalised interest rates based on your individual circumstances. 100% online and 15 minute approvals available.
The best borrowers get rewarded with our lowest rates!


Online Home Loans

Home Loans of Oz provide fast, convenient, and competitive online home loans that are easy to understand, live with and pay off.

Apply Online Now

Traditionally, financial products are selected off-the-shelf and applied for. Financial products of the future are tailored for the individual and then offered for their acceptance.

Before Home Loans of Oz, banks and lenders developed mortgage systems that replicate their traditional paper-based processes. That is, they use websites to market their products and package loan applications to be assessed by traditional credit underwriters before an approval is granted.

This traditional approach creates uncertainty for the consumer in their home loan journey. Is the product right for me? Will I get approved? Am I getting a good deal? This traditional process is out-dated, expensive, and slow.

At Home Loans of Oz, we take an entirely different approach…

With Intelligent Credit, we:

  • Tailor a custom home loan solution based on your unique needs and objectives, delivering the transparency that is lacking in the traditional process.
  • Verify loan information from trusted digital sources, removing unnecessary hurdles and paperwork.
  • Assess the loan immediately using Intelligent Credit, eliminating the uncertainty associated with traditional credit underwriting.
  • Offer an instant Verified Approval to you, for your consideration and acceptance, providing a high-level of confidence in your home loan journey.

This new process offers the benefits of reducing costs, increasing conversions, and improving the customer experience as approvals that traditionally take weeks can now be done in minutes. With Home Loans of Oz, your home loan is approved before you apply. That’s Intelligent Credit.

What is the Intelligent Credit
Mortgage Score?

The Intelligent Credit Mortgage Score™ is a numerical benchmark that represents an overall credit risk assessment of a residential mortgage loan.

An Intelligent Credit Mortgage Score™ reflects:

  • Each applicant’s creditworthiness and capacity to repay
  • The features, structure, and purpose of the loan
  • The size, type, location, and relative valuation of each security property
  • The loan-to-value ratio (LVR)

Interest rates are applicable at the time of loan approval and are based on the Intelligent Credit Mortgage Score™ which is an overall risk assessment of the loan.

How does the Intelligent Credit process work?

The Intelligent Credit process begins with information about each applicant’s needs and objectives, such as the purpose, amount and features of credit sought for a home loan, to create a loan scenario.

Applicant information is digitally verified by trusted third-party sources, including:

  • Property data and statistical estimates
  • Customer identity document verification
  • Customer credit check
  • Bank accounts and transaction categorisation
  • Tax rates and stamp-duty calculations

This verified information is then processed by credit-decision algorithms to determine the Intelligent Credit Mortgage Score and personalised interest rate in real-time.

This immediate feedback allows us to:

  • Consult with the you on your financial situation
  • Correct erroneous data and record foreseeable changes to circumstances
  • Review the effect of the requested loan features
  • Tailor the product features to your needs and objectives.

If you are satisfied with the tailored product, we can issue an instant Verified Approval for your consideration and acceptance. That’s the Home Loans of Oz guarantee.

What is a Verified Approval?

A Verified Approval means that your loan has been digitally assessed and approved based on the information verified through the Intelligent Credit process.

The Verified Approval provides a greater level of certainty to applicants than a traditional pre- approval because their information has been verified and assessed in a digital credit approval process.

Extra information that we may require with a Verified Approval can include recent pay slips, a valuation of the property or a fully signed and dated contract of sale. There may be information that we’ve not been able to verify digitally, or that may have been adjusted through the Intelligent Credit process, and this may require additional supporting documentation.

In all circumstances, a supporting documents checklist is provided for each applicant in their Acceptance Letter based on the specifics of their Verified Approval. A Verified Approval will remain valid for 30 days from the date of the Acceptance Letter.

What is an Acceptance Letter?

Intelligent Credit generates a pre-offer Acceptance Letter for each approved loan scenario that must be digitally signed (via DocuSign) by each applicant to proceed with the loan.

The Acceptance Letter sets out:

  • The applicant(s) details
  • Their purpose of obtaining credit
  • The amount of credit requested
  • The product features requested
  • Their current income, expenses, financial obligations, assets, and the loan writer’s notes on foreseeable changes
  • Their capacity to repay and Affordability Analysis
  • The required supporting documentation based on the information verified, corrected, or declared through the Intelligent Credit process
  • Privacy statement and declarations

Once you have digitally signed the Acceptance Letter, we are able to upload the supporting documentation via Intelligent Credit and submit the complete loan file to our chosen lender partner. All applications for credit are subject to our chosen lender partner’s credit approval criteria.

Credit criteria, fees and charges apply. Based on current credit criteria, residential lending is not available for non-Australian resident borrowers.

The Verified Approval provides a greater level of certainty to applicants than a traditional pre-approval because their information has been verified and assessed in a digital credit approval process.

How does the settlement process work?

The settlement process, including preparation of security documentation such as the loan contract and mortgage, is outsourced to an approved Australian Mortgage Panel Solicitor. Our chosen lender partner will generate a Solicitor Instruction that contains all the information required to prepare the contract documents, including any special conditions for the Panel Solicitor.
On receipt of the Solicitor Instruction, the Panel Solicitor will conduct the relevant searches and issue the loan documents to the borrower(s) to be signed electronically (using DocuSign) where possible. Once the loan documents have been signed and returned, the Panel Solicitor will complete the Solicitors Certificate and our chosen lender partner will update the anticipated settlement and book funding for the settlement date.
The Panel Solicitor deducts fees and expenses from the gross loan proceeds before the balance of loan proceeds is disbursed at settlement. The Panel Solicitor will direct any surplus loan proceeds to the nominated loan account, offset account, or bank account as authorised by the borrower(s) in the Settlement Authority.