Community First - Accelerator Home Loan - 2yr Fixed home loan - 1.99% (Comparison Rate- 3.25%)


Community First - Accelerator Home Loan

2 year fixed package rate loans (max LVR 80%)
1.99% p.a,Comparison rate from 3.25% p.a.

A discount off the standard fixed interest rate
A 100% offset facility with the option to attached a Debit Card
No monthly fees
Annual fee of $395

Standard home loan fees

Application fee and legal fee waived
Other valuation, legal and variation fees may apply
$0 monthly fee
$395 Accelerator Package annual fee
Redraw fee:
Internet - free
Staff Assisted (including BPAY​®, internal and external transfers) $30

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  • "No monthly fees…
    Annual fee of $395"


  • Owner occupied only?

  • im assuming no offset?
    also is there any rebate/cashback?

    • That would make an ass out of u and..u.
      Community First and Easystreet do 100% offset fixed loans. The big 4 have just 'trained' everyone to think fixed= no offset. CF has branches and a debit card and charge you $395 / year for it. Easystreet is their online arm. No recurring fees, but all via phone/ net, no debit card..
      No cashback, but essential workers can get LMI removed..which can be worth a couple thousand.

  • 3.25% is not a great rate…

    • But people have mega mortgages not the comparison rate mortgages unless you live in a regional town far far from the cities.

    • Please do some reading on what the comparison rate actually is. You really need to ignore the comparison rate for fixed loans as it take into consideration the interest rate once the fixed term expires.

  • Staff Assisted (including BPAY​®, internal and external transfers) $30

    You shouldn't bank with a bank that manually execute Bpay payments.

  • Hang on, the loan calculator says 1.99% variable, not fixed. Please explain

  • from their loan calculator "2 years variable at 1.99% p.a."

  • what's with the Bpay? maybe expensive pigeons? Or service charges on their Morse Code equipment?

  • Even with the annual fee, this is a great deal.

    I've compared it against other related products where lenders included offset accounts (for a period of 2 years) from Well Home Loans, Reduce Home loans and Freedom Lend and this comes on top. Obviously others are having an issue with the fee's on the BPAY but I would just use another transaction account when want to use BPAY.

    I'm going to give them a call and see if there are any other hidden fee's. Will post back and give an update.

    • Thanks. Will wait for your response.

      • Update: Had a chat with a CF lender for over an hour and have to say things went very well.

        Here are my key takeaways:
        * Community First is a ADI - They are covered by the Financial Claims Scheme (250K)
        * They use their own evaluator so there is no valuation fee. No settlement fee, no application fee, no third party solicitor fee, no bs processing fee.
        * The only fee is the annual fee of $395. There are also standard fees such as government fees which you would pay no matter who you take out a loan with. In NSW i believe it would equate to $300 all up but don't quote me. Obviously you will have you pay your own solicitor fee. There is also a Land Title Verification of Identity form that needs to be filled out at a Aus Post Office which will cost a fee, however I'm not too far away from a branch and can have to done there for free.
        * The offset account covers the whole loan amount and is free (some might say it's included in the annual fee).
        * After the 2 year term ends, you can either lock again for a new fixed rate (for a fee) or go onto their variable rate and get a 1.65% discount on what the variable rate is in 2 years time
        * The $30 BPAY fee that people have been complaining about is only on the redraw account and only if you you request a CF team member to do it on your behalf. Its's free on the offset account with debit card.

        To me this is so far the best loan package I have found for a 2 year period that suits my needs (Maximum LVR of 80%). I have already requested a per-approval. They believe there turn around time in currently 2 weeks.
        They also loan to high rise apartments, which I know other smaller lenders are not or require 70% LVR.

        I'm sure I've maybe missed something so happy to answer a few questions.

        • Do they allow split loans ie variable + fixed.?

          • @pyramid: I did not ask that question but I did read something on their facts sheet that says they over split loans up to 4. Not sure if it applies to the Accelerator Home Loan but I think there is a good chance it would.

  • Holla4adollar knows what they are talking about … all the other muppets on here have no f'ing idea and cannot read. All home loans cost money! You bunch of tight asses, period! You can try all the budget lenders out there and they will all charge you … main difference is they tell you what the fees are before you buy (if you drill them). For example Reduce Home Loans will cost you about 697 fees + 395 legal dispersments from Galilee Solicitors and 120 per year for the offset for their fixed 2.19% 2 year loan … To join Community First over 2 years you pay 395 x 2 + 240 for government rego in VIC and that is it … everything else is paid for. Not sure what all the other dumb asses on here are on about, but basically they cannot read or search the web for a pdf file. Their fee's are available for download, the CS Accelerator HL package is a once off offer with everything you need including a 100% offset against a fixed or variable, plus a VISA debit card … most lenders give a shity EFTPOS card only, like for example Reduce with Adelaide Bank … anyhow, if you've done a few tight arse home loans in your life you will soon realise that you will not settle without paying about $1000 in f'ing fees to the greedy c&^nts. If there are zero fees and a cashback on offer then you have joined one of the big 4 and will have a shity (non-competative) interest rate to counter it … nothing in life is for free! and all the corporates have you by the vagina and balls … get ready to sign your life and privacy away, have a nice day.

  • Also if you do manage to learn how to use Google and you do find the .pdf for Community First's fees then you will quickly find the fees associated with the Accelerator Home Loan package realeased last week are free for BPAY … yes, BPAY is free with the CS … Why? Because you dumb asseses are paying 395 per year … with that kind of coin you get a BJ with the works from a lender … do all you tight assess now comprehendo??

    Anyhow if you have read this far without passing out on weed, … with a 395 per year fee, over 2 years it is still cheaper than 99% of all other lenders over the Fixed 2 year period and the comparison rate means shit to professional borrowers … it means abort and leave them before the 2 years is up … it's like a 20% interest rate on a credit card … no one pays it! Unless you're a dumb shit. Again have a nice day and watch your tail for the corporate vulchers, but it doesn't matter they will eat from the head when you're looking at your tail … stay happy and kind? … er yeah right …

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