IMB Home Loans

Read on to learn more about IMB’s key home loans and features.

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Compare IMB home loan interest rates

The table below contains some of the lowest interest rates offered among IMB’s current home loans.

Lender
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
VariableMore details

Budget Home Loan (Principal and Interest) (NSW and ACT only) (LVR < 80%)

VariableMore details
NO ONGOING FEES

Budget Investment Loan (Principal and Interest) (LVR < 90%)

NO ONGOING FEES
VariableMore details

Essentials Investment Loan (Principal and Interest) (NSW and ACT only)

VariableMore details

Budget Investment Loan (Interest Only)

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given Rates correct as of October 19, 2021. View disclaimer.

Considering other lenders? Compare home loans with these low-rate offers for owner occupiers:

Lender
Advertised rate Comparison rate Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval
VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
FixedMore details
NO UPFRONT OR ONGOING FEES

Basic Home Loan Fixed (Principal and Interest) (LVR < 70%) 3 Years

NO UPFRONT OR ONGOING FEES
VariableMore details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. Rates correct as of October 19, 2021. View disclaimer.

Summary:

About IMB

Established in 1880 as Illawarra Mutual Building Society, IMB is one of the largest customers owned banks in Australia and offers a full range of banking services including home loans, personal loans, bank accounts (savings accounts & term deposits) insurance and more. IMB is a member of the Customer Owned Banking Association (COBA) and has over 200,000 members in Australia. It also has a growing branch network throughout Illawarra, Sydney, the NSW South Coast, the ACT and Melbourne.

Whether you're a first home buyer, a refinancer or a property investor, IMB has a wide range of home loan products to suit a variety of borrowers' needs.

IMB Bank home loans

IMB offers home loans to owner-occupiers and investors, and across both loan types offers the following home loan products:

  • The Budget Home Loan: A variable-rate loan with a discount off the standard variable rate as well as no monthly fees, unrestricted additional repayments and redraws
  • The Accelerator Home Loan: A variable-rate loan that comes with an introductory, special rate for two years as well as a 100% offset account
  • The Fixed Rate Home Loan: IMB allows you to fix your loan for between one and five years, and you can also make 12 months of repayments in advance without penalty.

IMB also offers other types of loans, such as construction loans for building a home and line of credit loans for things like renovations.

IMB mortgage features

Accompanying IMB’s key home loan products are the following features:

  • Fee-free: Various IMB home loans are without certain fees, such as monthly fees, annual fees, application fees, redraw fees etc.
  • Split loans: IMB customers can choose to split their loans into different repayment types.
  • Offset account: Offset accounts up to 100% are available for certain home loans.
  • Redraw facility: Some home loans also come with a redraw facility, allowing borrowers to withdraw extra repayments they’ve made
  • Additional repayments: Certain IMB home loans allow you to make unrestricted additional repayments into your home loan, allowing you to pay it off faster.

Not all products will have all of these features. Be sure to consult your broker or home loan specialist from IMB for more details. Check the Ts and Cs for more info on a loan’s fees, charges, interest rates and features

How to apply for a mortgage with IMB

Eligibility criteria

To be eligible to apply for a home loan with IMB, you generally need to:

  • Be 18 years old or over
  • Be an Australian citizen or permanent resident
  • Have a regular source of income
  • Demonstrate your ability to service the loan

You can apply for an IMB home loan online at www.imb.com.au or by phone on 133 462.

Documents and information needed

To ensure a straightforward application with IMB, you should have the following documents handy:

  • A form of identification document (e.g., driver's license, birth certificate, passport)
  • Your annual income and estimated assets
  • Your estimated expenses and liabilities
  • A current email address and mobile phone number

Frequently asked questions

1. How long does it take for IMB to process my home loan application?

The time it takes for an application to be processed can vary, as IMB will need to verify your identity, assess your application in terms of your finances and transfer security of the property. This can be a lengthy process sometimes, often taking several weeks, but an IMB lending specialist should be able to tell you more.

Pre-approval generally takes less time than an unconditional approval. In most cases, you could receive a pre-approval within one business day of completing your application.

2. How does IMB verify my identity?

IMB can verify your identity electronically or over the phone, using the personal details you provided during your application.

3. Why was my IMB home loan application unsuccessful?

Regardless of lenders, your home loan application can be unsuccessful if you don't meet the eligibility criteria or haven't supplied all the documentation required for the process to move forward.