ME Bank Home Loan Review 2026

The product decision comes down to whether you will keep enough money in offset to justify CompleteME's annual fee.

The offset is most useful when you regularly keep money in it. We’d estimate the annual interest saving by multiplying your average offset balance by the home-loan rate, then compare that with the $395 fee. If you usually have little left in savings, EconoME may cost less. The rate offered on each loan matters too.

Both products allow unlimited extra repayments while variable. During a fixed period, you can pay up to $10k extra each year before an early repayment charge may apply. Redraw is not available during the fixed period.

Use our offset guide to estimate the saving, then compare Macquarie, ING and Bankwest for different account limits and fees.

Eligible purchases and standard home-loan refinances may reach 95% of the accepted property value. Lenders Mortgage Insurance, or LMI, normally applies when the base loan is above 80%.

Loan-to-value ratio (LVR) is the loan as a percentage of the property value. A 90% LVR means borrowing $90 for every $100 of property value. You still need money for any buying costs.

ME does not publish a professional LMI waiver for doctors or other professions. If you qualify for a waiver elsewhere, we’d compare the borrowing amount, rate, repayments and cash needed across the options.

Our 5% Deposit Scheme guide explains eligibility and participating lenders.

Compare CBA for the government scheme, and Westpac for profession-based LMI waivers. Each option has its own eligibility checks.

ME can be useful once the business and Australian Business Number (ABN) have been active for at least 18 months. A company director generally needs at least 12 months as a director and must be a current shareholder.

The wages-only option can suit a company director who pays themselves a regular wage and does not need business profit to qualify. ME still needs financial statements showing the company traded profitably.

If your company wage is not enough to qualify, ME may use 1 year of business income. It can add back some expenses when calculating that income, but it also needs to account for the business debts.

Our self-employed loan guide explains the documents. Compare NAB and ANZ if your business history or latest results need a different approach.

How much you can borrow depends on what ME counts as income, your living costs, existing debts and the new repayments.

ME normally counts your HECS or HELP repayment when working out how much you can borrow. We wouldn’t leave it out just because you are close to paying it off unless ME confirms it can do so.

For a lender comparison, see the HELP discussion in our CBA review.

We can run the numbers before you start looking at properties. That is especially useful if you work for yourself, earn overseas income or have pay that varies, because ME may not count all of it.

ME can lend on standard houses, townhouses and apartments if the property and valuation qualify. If you’re buying a small unit, a regional property or a home with an unusual title, we’ll check whether ME will consider it before you make an unconditional offer.

ME's current digital products do not provide a standard construction loan, vacant-land purchase or guarantor loan.

Read our apartment mortgage guide or construction finance guide before signing if the property is outside a standard established home.

A home-loan refinance with no extra borrowing may reach 95% with LMI. The limit falls when you add unsecured debts or take extra cash.

ME may allow extra cash for accepted personal purposes such as renovations. It does not allow extra cash for business purposes or cryptocurrency, and the cash cannot be counted as income when ME works out what you can afford.

Adding other debts to a 30-year home loan may lower the monthly repayment, but you can end up paying more interest if you take longer to clear them. We’d compare the total cost and what happens if you pay that part of the loan off sooner.

In the example above, repaying $20k over 5 years at 12% costs about $445 a month and $6,700 in interest. Spreading it over 30 years at 6% lowers the repayment to about $120 a month, but the interest rises to $23.2k, about $16.5k more.

Those figures assume the rates stay the same, with monthly repayments and no fees or extra repayments. We’ve used example rates for this comparison; your ME quote may differ. Paying the added debt off over a shorter term can reduce that interest bill.

ME’s current digital home loans allow up to 2 people to borrow in their own names. You can still use eligible business income if you’re a company director, sole trader, business partner or trust beneficiary.

Australian citizens and permanent residents can apply with an Australian residential address. Some temporary residents may also qualify, depending on their visa and income. Every borrower needs an Australian residential address, so the options are limited if you live overseas.

If you need the new loan in a company or trust name, have more than 2 applicants or live overseas without an Australian address, compare another lender first.

Valuation costs above ME's included allowance may also be payable. Fixed-rate early repayment charges can apply if you exceed the permitted extra repayments or break the fixed contract.

ME’s published service estimates, checked on 11 September 2026, suggest allowing about 6 business days after submission for the application to reach credit assessment, plus time for valuation, LMI or follow-up questions. ME says it picks up replies to its information requests within 2 business days. We’ll check the current turnaround against your finance or auction deadline.

Our pre-approval guide explains why an early approval still has conditions.

ME may suit you if it can use your business income or you’ll make good use of the offsets. The annual fee, deposit and property requirements can change that decision. We’d compare the amount you can borrow and the total cost with other lenders.

The lender pays us commission, which we disclose before you proceed. We compare more than 30 lenders and must act in your best interests. Our Brisbane team can compare ME with other lenders and explain what the differences mean for your loan.