Resimac is one of Australia’s longest-running non-bank lenders, and a genuinely useful one to have on your side when a mainstream bank says no. They’re best known for two things: sharp pricing on straightforward “prime” loans, and a flexible set of alt-doc and specialist products for borrowers the big banks find too hard to assess. Below we break down Resimac’s four-tier structure, where they shine, the trade-offs on the specialist end, the documents you’ll need, and how a Brisbane mortgage broker changes the outcome when you’re matched to the right tier.
Resimac is a strong choice for self-employed borrowers with alt-doc income and for anyone a mainstream bank has knocked back, not for rate-only shoppers who fit a bank cleanly. Its edge is the tiered structure: Prime for clean full-doc files, Alt Doc for self-employed borrowers whose paperwork doesn’t fit a bank’s template, and Specialist for impaired credit. Getting the right tier matters more than any small rate difference. Landing in the wrong one either costs you more than necessary or gets you declined for something a broker could have structured properly.
Note: this review is current as of 10 July 2026 and product/policy information is subject to change without notice. We don’t publish interest-rate figures here. They date quickly and vary by tier and deposit. Resimac lends through mortgage brokers, not branches. Any credit application is subject to the lender’s criteria and final approval; we confirm current terms directly with Resimac before you apply.
Who is Resimac?
Resimac is an established, ASX-listed Australian non-bank lender with more than 40 years in the market and over $15.7 billion in loans under management. Like most non-banks, they don’t take deposits or run branches. They fund their lending through the capital markets and lend exclusively via accredited mortgage brokers across Australia and New Zealand. Resimac also owns State Custodians, an online mortgage manager that, as we understand it, is now closed to new home loan applications. Existing State Custodians borrowers sit on the same Resimac-backed funding, but new applicants apply through Resimac’s own brand instead. What makes Resimac valuable to a broker’s panel is its range: it can price keenly for a clean full-doc borrower, and it also has a genuine home for self-employed and credit-impaired applicants who don’t fit a bank’s mould.
What is Resimac good at?
- Competitive prime pricing. For clean, full-doc borrowers, Resimac Prime is often among the sharper non-bank rates available on the panel.
- Real flexibility for the self-employed.Their alt-doc products accept alternative income verification, such as bank statements, BAS or an accountant’s declaration, when tax returns don’t tell the full story.
- A genuine home for impaired credit.Their Specialist tiers can help borrowers with credit events, defaults, or those who’ve reached their exposure limit with mortgage insurers elsewhere.
- A clear “graduation” path. Borrowers who start on a specialist loan can often be refinanced to a sharper prime product once their situation improves. We plan that exit from the start.
- Up to 90% LVR even on some specialist alt-doc scenarios, which is generous for the risk profile.
- Broker-only distribution. Every application is packaged by an accredited broker who understands the tiers, rather than a branch teller guessing at the right product.
Where Resimac falls short
- Specialist rates are higher.That’s the nature of non-conforming lending. You pay for flexibility, so it should be treated as a stepping stone, not a forever home.
- No branches.Everything runs through brokers and online support. There’s no face-to-face banking if that matters to you.
- Not the cheapest for every clean borrower.A mainstream bank, or a professional LMI waiver elsewhere, will sometimes still beat Resimac Prime, so it’s worth comparing rather than assuming.
- Fees can apply on specialist products, which need to be weighed against the benefit of simply getting approved when a bank has said no.
- State Custodians is off the table for new lending.If you were hoping to apply through that brand specifically, you’ll need to go through Resimac directly instead.
Resimac’s four tiers explained
The key to understanding Resimac is its tiered structure. Matching you to the right tier is where a broker earns their keep, because the gap between tiers matters far more than any week-to-week rate move:
- PrimeFull-doc
- Clean credit, PAYG or self-employed
- Buy, refinance, consolidate or cash out
- Sharpest end of Resimac’s pricing
- Prime Alt DocSelf-employed
- For self-employed with clean credit
- Bank statements, BAS or accountant declaration
- No two years of tax returns required
- SpecialistImpaired credit
- Credit events, defaults, higher exposure
- Priced for the added risk
- Built as a stepping stone to prime
- Specialist Alt DocBoth
- Self-employed AND credit-impaired
- Outside standard policy on both counts
- Needs careful structuring
The real edge: alt-doc lending for the self-employed
Resimac’s most useful trait is how it verifies self-employed income. Mainstream banks often demand two years of tax returns in a rigid format, and if your paperwork doesn’t line up exactly (a strong recent year dragged down by an older one, or income that’s really there but structured oddly), the deal stalls. Resimac’s alt-doc products can instead accept alternative evidence: recent business bank statements, BAS lodgements or a signed accountant’s declaration. That frequently rescues a strong borrower whose income is real but doesn’t fit a bank’s template. For a self-employed buyer with a good business but “messy on paper” income, that flexibility is the whole point. See our guide to self-employed home loans for the wider picture across the panel.
We’ve seen a technicality, an accountant’s letter missing the right financial year, for example, knock tens of thousands off a client’s achievable borrowing at another lender, through no fault of the business. That’s exactly the scenario Resimac’s alt-doc policy exists to fix. Get the paperwork format right the first time and it’s a smooth process.
How does Resimac handle bad credit and specialist lending?
The Specialist tiers exist for borrowers a mainstream bank won’t touch: defaults, judgments, arrears history, or simply a loan amount that’s pushed you past your exposure limit with a mortgage insurer elsewhere. Pricing on Specialist reflects that added risk, so it’s not meant to be a forever home. The better use of it is as a bridge while you rebuild your credit file, with a clear plan to refinance to Resimac Prime or another mainstream lender once you qualify. Borrowers dealing with defaults, Part 9 agreements or ATO debt may also want to compare our broader bad credit home loans guide alongside a Resimac Specialist quote.
Resimac home loan rates
Resimac’s pricing depends entirely on which tier you land in and your deposit. Prime full-doc is keen, Alt Doc sits a step above it, and Specialist tiers cost more again to reflect the added risk. Because advertised figures move regularly and vary by tier, LVR and loan purpose, we don’t publish specific rate figures here. They date quickly. The useful thing is to get the right tier first, because the difference between tiers is far bigger than any week-to-week rate move.
Rather than chase a number that changes week to week, the better move is a like-for-like comparison for your exact situation. Book a free assessment or call 1300 088 065and we’ll pull live Resimac pricing across all four tiers alongside the 30+ lenders on our panel.
What documents does Resimac need for a home loan?
The documents you’ll need depend heavily on which tier you’re applying under:
- Proof of identity: a photo ID such as an Australian driver’s licence or passport (100 points of ID), for every tier.
- Prime (full-doc) income evidence: for PAYG, recent payslips and matching bank statements; for self-employed, two years of tax returns and Notices of Assessment.
- Alt Doc income evidence: recent business bank statements, BAS lodgements or a signed accountant’s declaration in place of full tax returns.
- Other income and assets: rental statements or leases, dividend statements, and savings evidence for your deposit.
- Liabilities: statements for existing loans, credit cards, and any buy-now-pay-later or HECS/HELP commitments, plus details of any credit events for Specialist applications.
- Property documentation: the signed contract of sale and your solicitor/conveyancer’s details for a purchase, or a recent rates notice and loan statement if you’re refinancing.
Getting the tier and paperwork format right the first time is the single biggest time-saver. A broker who’s placed Resimac files before knows exactly what each tier expects.
How much can I borrow from Resimac?
Borrowing power varies significantly by tier. Prime full-doc borrowers are assessed much like a mainstream bank, while Specialist and Alt Doc files are assessed against the alternative evidence you provide. Up to around 90% LVR is available depending on the product and your profile, including on some specialist alt-doc scenarios:
- Up to ~90% LVR is possible on eligible Prime and some alt-doc scenarios, meaning as little as a 10% deposit in the right circumstances.
- Alt-doc borrowing power is assessed on your alternative evidence(bank statements, BAS or an accountant’s declaration) rather than on tax returns alone, which can better reflect a strong business.
- Specialist borrowing power factors in the credit event and the higher pricing tier, so the achievable amount is typically more conservative than Prime for the same income.
Some illustrative scenarios (estimates only, not a quote or approval):
| Scenario | Details | Indicative outcome |
|---|---|---|
| Self-employed, messy paperwork | Sole trader whose accountant’s letter was rejected by a bank on a technicality, using Resimac Prime Alt Doc with BAS-based verification. | Alt-doc evidence can restore borrowing power a rigid full-doc assessment would have missed, often recovering most of the gap. |
| Recent credit event, 20% deposit | Borrower with a paid default from two years ago, clean income since, using Resimac Specialist with a plan to refinance in 12–18 months. | Can often be approved where a mainstream bank declines, at a higher rate reflecting the risk, with a clear graduation path to Prime. |
| Clean PAYG couple, prime full-doc | Couple with straightforward payslip income, 15% deposit, comparing Resimac Prime against a mainstream bank. | Resimac Prime can be competitive against non-bank and some bank pricing. Worth comparing rather than assuming a bank wins by default. |
Note: these are estimates only. For a tailored figure, use a borrowing power calculatoror speak to a broker who can confirm which tier you’d actually qualify for.
How long does a Resimac home loan take to approve?
Timing depends heavily on the tier and how complete your file is when it’s submitted:
- Tier assessmentBefore lodging, we work out whether Prime, Alt Doc, Specialist or Specialist Alt Doc genuinely fits your file. Getting this right avoids a slow, avoidable decline.
- Conditional approvalA well-prepared full-doc file is often conditionally approved within a few business days; alt-doc and specialist files typically take a little longer while the alternative evidence is reviewed.
- Full / formal approvalFollows once the property valuation and any outstanding documents are in.
- Documents & settlementOnce approved, signing loan documents and settling typically adds one to two weeks.
Because Resimac lends exclusively through brokers, the biggest lever on speed is landing in the right tier the first time. A broker who packages an alt-doc or specialist file correctly avoids the back-and-forth that slows down a poorly matched application.
What else does Resimac offer?
- Refinance, consolidation and cash-out: available across the Prime tiers for eligible borrowers looking to restructure existing debt.
- A genuine graduation path: borrowers who start on Specialist can often be refinanced internally or externally to Prime once their credit or income history improves.
- The State Custodians brand: existing borrowers remain on Resimac-backed funding, though as we understand it, new applications now go through Resimac directly rather than the State Custodians brand. See our State Custodians review for the full detail.
- Broker-managed servicing: because there are no branches, day-to-day queries and structuring support run through your broker and Resimac’s online systems.
What are Resimac customers saying?
Feedback on Resimac tends to split by tier. Borrowers who land in Prime and get a competitive non-bank rate are generally satisfied with the process and pricing. Alt-doc and specialist borrowers are often simply relieved to be approved at all after a mainstream bank said no. The trade-off of a higher rate is usually accepted willingly in exchange for genuine flexibility. The most common frustration we hear is when a borrower or another broker gets the tier wrong from the start, leading to a slower or more expensive outcome than necessary. That’s exactly why we spend time upfront confirming the right tier before lodging.
Who Resimac suits, and who it doesn’t
- Tends to suit
- Self-employed borrowers with alt-doc income
- Borrowers with a credit event who need a specialist path
- Clean borrowers wanting a sharp non-bank prime rate
- People who’ve hit LMI exposure limits elsewhere
- Borrowers planning to “graduate” to prime later
- Tends not to suit
- Borrowers who fit a mainstream bank cleanly and want the lowest rate
- Anyone who wants branch access
- Buyers who’d be better served by a professional LMI waiver elsewhere
- Anyone wanting to apply specifically through State Custodians (closed)
A client story from our desk
How does Resimac compare to other non-bank lenders?
Resimac sits in the specialist non-bank set alongside Liberty, La Trobe Financial and Bluestone, each with slightly different sweet spots. Here’s how it stacks up on the things that actually decide the outcome:
| What matters | Resimac | Other specialist non-banks | Mainstream banks |
|---|---|---|---|
| Prime pricing (clean files) | Often competitive on the non-bank panel | Varies by lender and tier | Sometimes sharper for a clean PAYG file |
| Self-employed alt-doc | Strong: bank statements, BAS or accountant declaration | Liberty and Bluestone also strong here | Usually two full years of tax returns required |
| Credit-impaired lending | Genuine Specialist tier, priced for risk | La Trobe leans further into complex credit/SMSF | Rarely an option |
| Maximum LVR | Up to ~90% on some scenarios | Broadly similar, varies by product | Up to 95% with LMI on standard policy |
| Branch access | None: broker and online only | None: broker-distributed | Branch network available |
| Broker’s take | Strong all-rounder across prime and alt-doc | Best for deeper credit events or SMSF needs | Best for clean files chasing the lowest headline rate |
Resimac is strong on clean prime pricing and self-employed alt-doc; Liberty and Bluestone cover similar ground, while La Trobe Financial leans more into deeper credit events and SMSF lending. The right choice depends on your exact situation, which is why comparing them side by side matters.
Broker tips for applying with Resimac
- Get the tier right first. The gap between Prime and Specialist pricing is large. Landing in the correct tier is the single biggest lever on your outcome.
- Use alt-doc deliberately.If your income is strong but messy on paper, the alt-doc products exist for exactly that. Don’t default to a full two-year tax-return application if it doesn’t reflect your business well.
- Plan your exit.If you start on Specialist, build a plan to refinance to Prime once your credit or income history improves. Don’t treat it as permanent.
- Compare the full cost, not just the rate. Fees and the value of simply getting approved both count, especially on Specialist tiers.
- Don’t confuse it with State Custodians. If you were hoping to apply through that brand, apply through Resimac directly instead. The underlying lender is the same group.
Is a Resimac home loan right for you?
Resimac is a strong option when a mainstream bank won’t play ball, but only if you’re matched to the right tier and it really beats the alternatives. Clean full-doc borrowers get sharp non-bank pricing on Prime; self-employed borrowers with messy paperwork get a genuine alt-doc pathway; and borrowers with a credit event get a Specialist option with a real graduation plan back to prime pricing. We’ll work out exactly which tier fits you and compare it against 30+ other lenders. Book a free assessment or call 1300 088 065 to get started.
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