FAQs

Visit our Rates & Fees page to see our current interest rates.

At this stage, we are unable to offer Interest Only loans. We hope to be able to expand our offering in the future.

At this stage, we are unable to offer fixed interest rate loans. We hope to be able to expand our offering in the future.

Yes. You will have access to a redraw facility through your primary loan. See our Loan Features page for more information.

At this stage, we are unable to provide you with an offset account for your loan. In the future, we hope to be able to expand our offering to include this. For now, we have a redraw facility and you can make unlimited prepayments at no extra cost. For more information on our benefits/features, click here.

Sucasa splits your loan into two parts:
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1. Primary Loan – up to 80% LVR

2. Accelerator Loan – the remainder of your loan up to 95% LVR

This allows us to keep your interest rate as low as possible.

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The short answer: We’ve focused on helping borrowers who don’t have a “full” 20%  deposit. By building a suite of products designed specifically for our borrowers, we’ve been able to make our loans cheaper and  more accessible.

There’s no catch.

We’re a mission driven business and our mission is to improve access to homeownership for young Australian families. We’ve done this by creating products we’d use and encourage our friends and family to use. Our loans are simple and we don’t take any equity in your home or have any equity-based incentives.

We’ve worked *very* hard to provide the lowest-cost loans possible and will work even harder to make things even more affordable for you – Australia’s next generation – as we build.

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LMI protects lenders and not borrowers. For various reasons, many/most lenders require LMI to protect themselves from default amongst borrowers with +80% LVRs.

We’ve taken a different approach.

Instead, we don’t charge LMI. We’re focused on lending to great borrowers and have created a suite of products specifically for great borrowers who don’t have a “full” 20% deposit.

We are proudly building an ethical, sustainable business to help financially responsible Australians get into their homes faster. We’ve built our own prudent lending criteria and are actually more conservative than most lenders in terms of who we will lend to.

So, in answer to your question – YES!

We are proudly lending responsibly, and very proud of the way we’re able to offer better-suited products to high-quality borrowers

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A comparison rate includes the interest rate as well as certain fees and charges relating to a loan (excluding LMI). The aim of the comparison rate is to help you identify the true cost of a loan (excluding LMI) and compare loans and services offered by financial institutions and mortgage providers. The formula for calculating a comparison rate is regulated by the Consumer Credit Code, and all Australian financial institutions and mortgage providers use this same formula.

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Yes. We offer refinancing solutions including debt consolidation and cash-out for borrowers who meet our lending eligibility criteria. Please click Apply Now if you are looking to refinance.

We offer refinancing, cash-out, and debt consolidation options for up to 90% of your property's current value.

If you're interested in refinancing, feel free to apply or reach out to us for more details.

We’re able to lend to self-employed applicants on a case by case basis. We encourage you to apply so our team can be in touch to discuss your circumstances.

General guidelines:‍

If you’re operating as self-employed, we require you to be registered for GST and evidence 2 years of profitable trading at minimum.

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We lend to both single and joint borrowers. Single borrowers need to be a New Zealand citizen or Australian citizens/permanent residents. Joint applicants must be in a spousal relationship where the primary borrower is a New Zealand citizen or Australian citizens/permanent residents. The secondary applicant must hold an approved visa at minimum.

We are currently unable to consider any employment-related foreign income. If you are earning foreign income from investments, we may be able to consider this. We encourage you to apply so we can discuss your application.

If you have a second job, we may be able include this income if:

a) You’ve been employed in the role for more than 12 months

b) You can demonstrate consistent earnings

Please submit your application and our team will be in touch to discuss further.

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Applying for a Sucasa Loan will NOT impact your credit score. The application process provides us with the data to assess your application. We will only run a credit check with your express consent when asking us for a loan approval.

After you submit your loan application, we will be in touch to discuss your loan options and understand if you would like to proceed to a pre-approval. A credit check will only be run at the point of receiving a pre-approval.

You have nothing to lose in applying with us - it's worth finding out what we can do for you so you can compare your options!

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Using Sucasa will not impact your ability to use any grants or concessions.
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If you believe you qualify for a Stamp/Transfer Duty exemption or government grant, let us know and we’ll account for this in our credit assessment and loan offer.  

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In addition to your deposit and any loan fees, there are a number of other costs associated with the transaction that you need to be aware of.  

These include:

• Transfer duty or Stamp duty or land tax
• Other Government Fees (mortgage registration fee, title transfer fee)
• Legal / conveyancing fees
• Building & Pest Inspection reports, strata reports if applicable
• Building & Home Contents Insurance
• Other costs (e.g. removalists, rental break fee etc.)

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You can check the status of your application anytime by logging into your online portal here or by reaching out to your Home Buying Concierge

After you’ve notified us that your offer has been accepted, we’ll organise a valuation which will allow us to provide Unconditional Loan Approval. We’ll look to do this as quickly as possible, and typically provide an Unconditional Loan Approval within a week of you letting us know your offer has been accepted.

Conditional Pre-Approval will typically take 24-48 hours from application submission

Conditional Pre-Approval (aka Pre-Approval) is the first step in applying for a home loan. If you're still searching for a property when you submit your application, we may provide you with a ‘Conditional Pre-Approval’ which outlines how much Sucasa could lend to you, subject to our usual lending criteria (including a valuation of the home you're buying). This allows you to set your budget, narrow your property search and make an offer with more confidence.

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“Unconditional approval” is provided once an offer on a property has been accepted and an independent valuation of the property has been completed. This is our confirmation that we will lend you the agreed funds to buy that specific property.

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You can see our eligibility requirements here

After your application is submitted, we may request some additional documents based on the information you declare.
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Identity Verification

You will need to provide 2 primary identity documents at submission. If you do not have two, we may request additional documents.‍

‍Primary Identity Documents

- Australian Passport

- Foreign Passport (Accompanied with IMMI Grant Notification)

- Driver’s License

- Government Issued Photo ID

Income Verification

We also require documentation to verify your income. In general, we require 2 payslips, however we may request additional documents based on the information that you declare.

Self employed applicants must provide 2 years of tax returns and corresponding financial statements.

Liabilities Verification

If you have any liabilities, we require the most recent statement for each of your current liabilities. We may request additional documents for further verification if required.

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To apply for a loan, click here.

1. Login to the Borrower Portal

2. Select ‘Primary Home Loan’

3. Click on ‘Manage My Loan’

4. Click on ‘Redraw’

5. Follow the prompts

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Interest is calculated on your remaining loan balance. Therefore, if you make additional repayments over and above what is required in your loan terms, you will reduce your loan balance. A lower loan balance means lower interest charged each month and could significantly reduce the total amount of interest you end up paying over the life of the loan.

1. Login to the Borrower Portal

2. Select which loan you’d like to make the payment on: ‘Primary Home Loan’ or ‘Accelerator Home Loan’  

3. Click ‘Make one time repayment’

1. Login to the Borrower Portal

2. Select which loan you’d like to make the Direct Debit changes to: ‘Primary Home Loan’ or ‘Accelerator Home Loan’

3. Click ‘Manage Loan’

4. Click ‘Modify my Direct Debit’

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1. Go to the Login page

2. Click ‘Forgot Password’

3. Follow the prompts

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You can access your Borrower Portal here.

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Alternatively, you can download our app in either the Apple App Store or Google Play Store and conveniently manage your loan from your phone.

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