How to apply for a home loan

Getting started on your home loan journey

To start your Unloan application, simply tap the ‘Apply now’ button – and you’re away.

Auto property evaluation

Thanks to CommBank's industry-leading automated evaluation technology, we can assess the existing property's value digitally. It’s a near-instant process, without the need for an in-person property evaluation in most cases.

Digital Credit Check

Gone are the days when you needed to gather all your home loan documents and statements for a credit check. Now, with your consent, we can check your repayment history on any current credit products digitally – and instantly.

Digital Financial Verification

After giving us the details of your income and expenses, we use Open Banking to digitally verify your financials – with your consent. But if you prefer manual verification, we’re happy to oblige.

Biometric Identity Check

No document uploads or visits to a branch are required! We digitally identify you via your smartphone, with a snapshot of your Driver’s Licence or Passport and a snapshot of your face.

Digital Signature

Who wants to sign and mail back paper documents? Unloan offers a digital home loan contract, which can be e-signed on your mobile or desktop.

Digital Settlement

Unloan uses PEXA, Australia's leading property exchange, to settle all home loans digitally. This makes settlement fast, safe, and efficient for everyone involved.

As an FYI, settlement is the process of finalising your loan by lodging documents with your state's land registry – to reflect any changes to your property title – and simultaneously paying out any money owed to the previous homeowner, for a property purchase or previous lender, for refinancing.

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This article is intended to provide general information only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Please consider seeking financial advice before making any decision based on this information.‍

Unloan is a division of Commonwealth Bank of Australia.

Applications are subject to credit approval, satisfactory security and you must have a minimum 20% equity in the property. Minimum loan amount $10,000, maximum loan amount $10,000,000, and total borrowings per customer across all Unloan loans is $10,000,000. (For purchase loans a minimum 10% equity is required - however a Lenders Mortgage Insurance (LMI) premium and higher interest rate apply. In some cases, depending on the property’s location or type, an LMI premium may also be required for LVR between 70.01% to 80%). For loans with Lenders Mortgage Insurance (LMI) the minimum loan amount is $10,000, maximum loan amount is $3,000,000 and total borrowings per customer across all Unloan loans is limited to $3,000,000).

Unloan offers a 0.01% per annum discount on the Unloan Live-In rate or Unloan Invest rate upon settlement. On each anniversary of your loan’s settlement date (or the day prior to the anniversary of your loan’s settlement date if your loan settled on 29th February and it is a leap year) the margin discount will increase by a further 0.01% per annum up to a maximum discount of 0.30% per annum. Unloan may withdraw this discount at any time. The discount is applied for each loan you have with Unloan.

*At Unloan, we do not charge any annual, application, banking, account, transaction, late or exit fees. In certain circumstances you may be required to pay a Lenders Mortgage Insurance (LMI) premium. Learn more about why this is applied and how it works. Government fees may also apply. Learn more about government fees here. Your current lender may charge an exit fee when refinancing.