XL Home Loan - up to 40 year term
Excel with a longer loan term and unlock your home ownership dreams sooner
If you’re ready to jump on the property ladder but the repayments of a 30-year loan term have been too high, our new XL Home Loan could be just what you’re looking for.
Spread your repayments over a term of up to 40 years and XLellerate your purchasing potential.
How can Credit Union SA’s XL Home Loan help you excel?
The typical home loan term is 30 years so having the option to extend your term to up to 40 years can help you spread the cost of your home loan over a longer timeframe which would make the amount you repay each month lower.
This means that if you’re ready to buy but have struggled to get approval because repayments have been out of your reach, we may be able to help you unlock your own home sooner.
Lower monthly mortgage repayments and the ability to crack into the market sooner?
Sounds XLent!
Get in the market sooner with lower repayments over a longer term
More affordable repayments can help alleviate the squeeze on your finances
Flexibility to make extra repayments and pay off your home loan sooner, on an XL Variable Home Loan
Get access to our home loan package benefits
XL Variable Home Loan Package Principal and Interest
XL Variable Construction Home Loan Package Interest Only
| Product Name | Interest Rate | Comparison rate |
|---|---|---|
| XL Construction ≤60% LVR ☉︎µ︎§︎#★︎ | 6.04% p.a. | 6.40% p.a. |
| XL Construction ≤80% LVR ☉︎µ︎§︎#★︎ | 6.09% p.a. | 6.45% p.a. |
| XL Construction ≤97% LVR ☉︎µ︎^§︎#★︎ | 6.99% p.a. | 7.34% p.a. |
XL Fixed Home Loan Package Principal and Interest
| Product Name | Interest Rate | Comparison rate |
|---|---|---|
| XL Package 1 year Fixed ≤80% LVR ☉︎§︎# | 5.94% p.a. | 7.24% p.a. |
| XL Package 1 year Fixed ≤97% LVR ☉︎^§︎# | 6.99% p.a. | 7.35% p.a. |
| XL Package 2 year Fixed ≤80% LVR ☉︎§︎# | 5.74% p.a. | 7.09% p.a. |
| XL Package 2 year Fixed ≤97% LVR ☉︎^§︎# | 6.79% p.a. | 7.31% p.a. |
| XL Package 3 year Fixed ≤80% LVR ☉︎§︎# | 5.69% p.a. | 6.97% p.a. |
| XL Package 3 year Fixed ≤97% LVR ☉︎^§︎# | 6.74% p.a. | 7.27% p.a. |
Start your application now
For a home loan that makes you feel at home – get in touch with us today.
Talk to a local lending specialist about the right home loan for you
For every home loan settled with Credit Union SA, we donate 20 meals to Foodbank SA to help make a difference in our state.
The XL Home Loan is available to any aspiring homeowner wanting to buy their first home in South Australia.
The XL Home Loan Package will be available from 21 January 2025.
You can speak to one of our experienced local home loan specialists or visit us in branch.
Yes, and this is something you should carefully consider before applying for the loan. As the loan is over an extended period, the amount of interest payable over the life of your home loan will be higher than a 30-year home loan.
Absolutely. You’ll still have the flexibility to make extra repayments on the variable home loan or refinance to a shorter loan term should you choose.
No, this particular product isn’t available for purchasing or refinancing a block of land. However, our other Home Loans can be used to purchase land.
The XL Home Loan Package can be used for construction purposes. If the interest only option is selected, then the repayments will be interest only throughout the construction period and will convert to principal and interest once the build period is complete.
Want to stop renting and purchase your own property? A 40-year loan offers lower monthly repayments than a standard 30-year loan.
If you’ve been struggling to get approval because repayments have been out of your reach, we may be able to help you unlock your own home sooner.
GUIDES AND NEWS
How we
can help
Contact us
You can contact us by calling us, visiting us, making an appointment, using Web Chat or Secure Mail.
Call us
We’re here to answer any questions you might have – make sure you have your Access Code ready!
Visit us
Our friendly staff at 400 King William Street, Adelaide can help you with all your banking needs.
Make an appointment
Don't have time to visit us? We can come to you! Book an appointment with us now.
INFORMATION YOU SHOULD KNOW
The above variable home loans are available for an extended term from 31 to 40-years.
Conditions, fees and lending criteria apply and are available on request. Interest rates are subject to change.
Download a copy of our Home Loan Interest Rates, Fees and Charges and our Terms and Conditions.
The target market for this product can be found within the product’s Target Market Determination (TMD), available at creditunionsa.com.au/legal/terms-and-conditions/target-market-determination.
☉︎
Loan available for minimum new borrowings of $150,000 or more. Annual Package fee of $395 applies.§︎
Interest rates are subject to change without notice. Comparison rates are based on a $150,000 secured loan for 25 years. WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.#
XL Home Loan Package products are available for terms of 31 to 40 years, for first home buyers residing in South Australia only. Eligibility is subject to lending criteria and a product suitability assessment being completed as part of the application process. A loan paid over a longer term will incur more interest and members should consider this when taking out this product.^
Available where the loan to value ratio is 97% or less, including capitalised LMI.µ︎
Interest only repayments are only available where the loan to value ratio is 80% or less.★︎
Interest only repayments for the XL Package Home Loan are available for construction purposes and during the construction period only. Fixed home loans cannot be used for construction purposes.