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Who can apply

You must satisfy the following requirements to apply for a MyRate loan:
  • Be at least 18 years of age
  • Be an Australian resident
  • The property to be used as security must be located in Australia

A MyRate Loan can be used for the following purposes:

Some MyRate Loan products have specific credit requirements applicants must meet. Please refer to the table below.

  Advantage Rate Loan/Selective Rate Loan All-in-One Loan Low-Doc Loan
(product currently not offered)
Borrower Type PAYG/self-employed/Company/Trust PAYG/self-employed PAYG (as co-borrower only) / Self employed / Company
Credit History Maximum 3 paid defaults less than $1000 Maximum 3 paid defaults less than $1000 Clear CRA
Un-acceptable income Centrelink payments+
Pensions
Centrelink payments+
Pensions
Centrelink payments+
Pensions
Loan Purpose All purposes considered All purposes considered All purposes considered
+Some family allowance payments acceptable

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how much can i borrow
MyRate Update
Friday 21st November 2014

Borrow up to 97%?

MyRate can offer a 97% LVR on purchases including capitalised LMI. Available at 5.17% variable and comparison rate.

Enquire now to find out more.

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Postcodes of MyRate funded loans
MyRate is a Kiva supporter