Resimac Home Loan Review 2026

Resimac is a non-bank lender. It offers home loans through brokers, with online and phone support rather than a branch network. Its range covers straightforward borrowers as well as people who need alt-doc or specialist lending.

It is part of Resimac Group. State Custodians is another group brand and is closed to new lending. If you already have a State Custodians loan, check your own terms and support details. You may need a new application to move to a Resimac product.

Alt-doc can help when your business is earning well but your tax returns are not ready, or they do not reflect how the business is trading now. You still need to show what you earn. Before choosing it, we check whether you qualify for a full-doc loan at a better price.

If your application sits at exactly 80% LVR, we confirm the full-doc document requirement before asking your accountant for anything. For a company director paid a regular salary, there may also be a simpler option below 80%: recent payslips showing 6 months of year-to-date income, ATO income statements and an accountant’s letter confirming the business is trading profitably.

Our self-employed home loan guide explains the broader choices. It is also worth comparing NAB before assuming you need an alt-doc loan.

Resimac splits Specialist lending into Clear, Plus and Assist. The more serious the credit issue, the more deposit or equity you may need. We’d look at an old, small default differently from a home loan you’re currently behind on.

The published arrears limits are less than 1 for Clear, less than 3 for Plus and no fixed numerical cap for Assist. We check how Resimac classifies your repayment history rather than choosing a tier from a credit score alone. Clear can consider a discharged bankruptcy. Plus and Assist have different rules for a current bankruptcy, depending on whether it began at least 2 years ago or more recently. Resimac still checks the rest of your application, including whether you can afford the repayments now.

Defaults paid more than 12 months ago, or listed more than 24 months ago, may be accepted. Small listings under $2k also have exceptions. They still need to be disclosed and checked against the tier and loan percentage. Under Resimac’s policy, first-home buyers are limited to Clear or Plus, rather than Assist.

Our bad credit home loan guide explains what lenders look at and how to prepare your application.

Resimac does not have one maximum loan percentage across the whole range. LVR means the loan as a share of the property’s assessed value. The product, credit tier, address and loan amount all affect the limit.

Even with a 95% loan, you may need more than a 5% deposit once LMI and your buying costs are included. We work out the premium, stamp duty and other costs before setting your price range. Use our deposit calculator to get started.

The categories are Resimac’s location classifications, so we check the exact address. The $5m cap applies across your relevant Resimac loans. The amount you can borrow on one property still depends on that product’s limits and your application. Minimum loans start at $50k for Prime Standard, Prime Alt Doc and Specialist, or $150k for Prime Flex.

Prime full-doc uses Helia for lenders mortgage insurance. If you have already reached an insurer’s exposure limit elsewhere, changing lenders may not solve that issue. Specialist lending does not require LMI, but it has a separate risk fee. That fee can apply even below 80% LVR.

Resimac does not offer a family security guarantee or a standard professional LMI waiver. If family property support or your occupation is the main reason you could avoid LMI, we would compare lenders such as St George before paying for specialist lending.

We start with how much of your income Resimac will count. It then checks your living costs, dependants, debts and the new repayment. Using different income documents may help you borrow more, but you still need enough left over to afford the loan.

Resimac’s broker material lists a standard assessment buffer of 2% above the actual rate. Some eligible simple refinances may qualify for a reduced assessment buffer, which we check separately. We’d run the numbers for you before counting on any increase in borrowing power.

Our mortgage calculator helps you see what repayments look like. We can then check how much Resimac may lend you using your income and expenses.

Specialist lending can consolidate several debts, including ATO debt, and can consider refinancing private or solicitor-funded loans. That can be useful for a business owner who needs to get repayments under control. Prime has different limits and does not offer the same ATO-debt option.

For Specialist Clear and Plus, cash out for an acceptable purpose can be available up to 80% LVR. Specialist Assist, and refinancing private or solicitor loans, restrict cash out to $10k at a maximum 80% LVR. If you want extra cash as part of the refinance, tell us upfront so we can check the limits that apply.

Our guide to refinancing with bad credit explains what to check before you switch.

Resimac offers FASTRefi for eligible refinances. It can help your new loan settle sooner once the income, credit and property checks are done. A reduced assessment buffer is a separate option with its own eligibility rules. We confirm whether your current lender and loan qualify.

Possibly. If your credit history improves, your business builds a longer record or full tax figures become available, we can review the options. Resimac has product-conversion forms for Specialist to Prime and Alt Doc to Full Doc, and we can also compare another lender.

We’d agree on what needs to improve and when to check again. In the meantime, you need to be comfortable with the repayments you’re signing up for. When you’re ready to switch, we’ll compare the saving with the fees involved.

Prime full-doc, Prime Alt Doc and Specialist offer interest-only options, with lower limits for a home you live in than for an investment in some cases. We check the allowed period and the repayment after interest-only ends. On an eligible variable loan, redraw and extra repayments may be useful alongside an offset.

If you want to fix, Prime full-doc is the range to check, and the change happens after settlement. The Alt Doc and Specialist specifications list variable rates only. We check the available fixed offer and any break costs before making that change.

For example, a $500k Specialist full-doc loan at 80% LVR has a listed 1% risk fee. That is $5k before settlement and other costs. The equivalent Specialist Alt Doc risk fee is 1.25%, or $6.25k. So even without LMI, you need to allow for that upfront fee.

Valuations are charged at cost. The Specialist specifications also list a $308 attendance fee per attendance and a $300 discharge fee per security. Legal and third-party costs can vary. We’d get an itemised quote so you can see the full upfront cost.

We compare current rates for the exact product, loan size and deposit. If Specialist costs more than a bank loan, we’d want to be clear about why you need it. Any cashback also needs to be compared with what you’ll pay over the time you keep the loan.

The service times currently displayed by Resimac are dated 1 July 2026. Each timeframe covers one stage. You still need to allow for the other steps before the loan can settle.

A valuation, missing income documents or a credit question can add time. Formal approval, signing loan documents and booking settlement are separate steps. We’d check the current turnaround against the finance date in your contract.

Vacant land can only be considered as additional collateral under restricted conditions, rather than the sole security for the loan. Resimac limits it to Category 1 locations, no more than 50% of total security value and an 80% LVR cap. Commercial or industrial property, apartments converted from offices or hotels, and untitled unit or townhouse developments are also outside the stated residential policy.

Even if Resimac can accept your income, it still needs to accept the property. If you’re building or buying something unusual, we’d check the address and plans early and compare other lenders where needed.

Yes, but the current product is for refinancing an existing residential investment property loan held by an SMSF. The fund must have owned the property before 9 August 2026. It is not currently available for a new SMSF property purchase.

We’d work through the fund and trust requirements with your accountant and legal adviser, including who gives a guarantee and how the fund will cover repayments. La Trobe Financial is another lender worth comparing for SMSF needs.

For specialist alternatives, read Liberty, Bluestone and La Trobe Financial. We compare the rules for your application rather than assuming all non-banks treat credit issues the same way.

For a straightforward loan, compare NAB, St George, Macquarie, UBank and ME Bank. Our lender review hub brings the reviews together.

Our Brisbane mortgage brokers can compare Resimac with other lenders based on your income, deposit and plans.