HOME LOAN OPTIONS
Variable rate
A variable rate loan allows you to pay back the principal and interest on your loan at a competitive rate with the option to pay lump sums off your loan balance without any penalties.
The interest rate on your variable rate loan fluctuates in accordance with economic conditions at the time.
Fixed rate 
Apply now 
Interest rates
Our fixed rate loans offer you the security of knowing your repayments won't change during that period, and are popular for those who like to plan ahead.
Fixed interest rates are available for terms of 1 to 5 years, so you'll have the same interest rate whether the market rate rises or falls during this time.
At the expiration of the fixed rate period the loan will convert to the variable rate applicable at the time, or you can choose a further fixed rate period. You can still make extra payments up to $25,000 per year during the fixed rate period to reduce the total of your loan balance.
Apply now Interest rates
An ideal home loan for first homebuyers is our introductory 12 months fixed rate home loan.
With an introductory fixed rate home loan you have the security of knowing exactly how much your repayments will be during the fixed period - plus your repayments are less and the interest rate is lower. At the end of the fixed period the interest rate changes to the variable interest rate current at that time.
If you've decided to take the plunge and build your dream home, Community CPS can help you with a flexible and uncomplicated construction loan to ensure that at least one part of your building process is hassle-free!
To be eligible for a construction loan, Community CPS requires the agreement between you and your builder to be a Housing Industry Association (HIA) contract. By using an HIA member, you can be sure a professional is building your home.
You can borrow up to 95% of our valuation of your completed home, and we will make progressive payments to your builder according to a pre-arranged schedule. In general, 5-6 drawdowns take place during the construction of your home, and take place in accordance with the schedule agreed between you and your builder.
Community CPS requires that you cover the interest charged to your loan each month on the balance outstanding. Payments to your builder are progressively drawn, and the interest payable will increase following each drawdown. We will write to you each month advising of the interest payable for the following month. Fixed interest rates are available for terms of 1 to 5 years at the time of the first progressive drawdown, or a standard variable rate will fluctuate in accordance with economic conditions at the time.
Community CPS All-In-One Account
If you are good at managing your money the All-In-One Account can take thousands of dollars and years off your loan.
Deposit money directly into your All-In-One Account and withdraw your expenses from it to reduce the principal and interest you owe.
Put simply, the amount you pay in immediately reduces your loan balance and therefore the interest you pay. What's more, Community CPS offers a free annual review service for selected members with an All-In-One Account to help plan for success in achieving your financial goals.
With the All-In-One Account you can:
• Reduce your loan term by years
• Redraw your money when you need it, with the convenience of cheque book, ATM card, telephone
and Internet Banking access
• Make extra repayments without penalty
• Borrow up to 90% of the value of an established property (up to $250,000)
• Borrow as little as $10,000 at a variable rate
Our interest only loan is suited to investors who want to minimise their own cash outlay.
• Interest only loans are available for terms up to 5 years.
• Choose from a variable rate loan, fixed rates up to 5 years, or a combination of both!
Community CPS Basic Variable Home Loan
With a discounted variable rate of 0.7%pa below our standard variable interest rate* and the ability to borrow up to 100% of the purchase price or valuation of your new home^, your search for a loan is over and the search for a home begins.
A Community CPS Basic Variable Home Loan includes redraw# and the option to make additional payments. Plus, if you qualify for the First Home Owner Grant there will be no loan establishment fee**.
*The interest rate at any time is 0.7%pa below our standard variable interest rate. Full details of all applicable terms and conditions are available on request. Fees and charges are payable. All applications for credit are subject to Community CPS Australia's normal lending criteria. ^Whichever is the lesser. Subject to Lender's Mortgage Insurance. #Redraws are subject to Community CPS Australia's approval and a fee is payable for each approved request. **Payment of the establishment fee that would otherwise be payable when a loan is funded is deferred, and the fee only becomes payable if the loan is refinanced out of Community CPS Australia within 3 years of funding. After 3 years it is completely waived.
Community CPS Parent Equity Home Loan
Our Parent Equity Home Loan enables families who are willing to use the equity in their home to help their children purchase their own home. Subject to how much you’re willing to guarantee^ and their ability to make repayments for the amount they wish to borrow*, your children can:
-
Borrow up to 100% of the purchase price of the new home
-
Borrow up to an additional 10% of the purchase price to cover costs associated with the purchase
-
Avoid the need to pay for Lender’s Mortgage Insurance
-
Receive relationship package benefits# including no loan establishment fees, discounted interest rates, no excess transaction fees on their Access Savings Account, and their own Relationship Consultant. Our Parent Equity Home Loan is available on all Community CPS Home & Investment Loans**For more information on how the Parent Equity Loan works, download our 
Parent Equity Information Sheet.
^An acceptable guarantor is a parent, step-parent or parent-in-law. *Terms, conditions and normal lending criteria apply. Fees and charges are payable. # For loans of $200,000 or more. **Excluding Interest Only Loan and All-in-One Account
Community CPS Bridging Home Loan
Apply now Interest rates
If you want to buy or build your next home before you sell your existing one, a Community CPS Bridging Home Loan can help. A Community CPS Bridging Home Loan allows you to1:
- Take up to 6 months to sell your existing home when purchasing an established home
- Take up to 12 months to sell your existing home when building a new home
- Borrow additional expenses such as stamp duty and other fees
- Avoid the need for repayments during the bridging period2 – the interest on your new loan is capitalised during that period3
- Borrow up to 75% of the value of both homes including the capitalised interest
- Apply for a Community CPS Bridging Home Loan even if your existing home loan is with another lender
Our Bridging Home Loan is available at our current standard variable interest rate. For more information download our Bridging Home Loan Information Sheet.
1.Terms, conditions and normal lending criteria apply. Fees and charges are payable.
2. If you’re buying an established home the bridging period lasts until your existing home is sold or for 6 months, whichever is shorter. If you’re building the bridging period lasts until the building is completed or for 12 months, whichever is shorter. If you’re building you have to pay the net proceeds of sale of your existing home off the loan if you sell it before the building is completed. At the end of the bridging period you must start making principal and interest repayments.
3. Interest is calculated daily on the daily balance of your loan and debited to your loan monthly.
