Compare TicToc home loans
Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.
About Tic:Toc Home Loans
Launched in July 2017 and backed by Bendigo and Adelaide Bank, Tic:Toc prides itself in transforming the home loan process. Its core technology allows a home loan application, which takes as little as 22 minutes, to be assessed in real-time when a customer is filling out their details online. Tic:Toc’s mission is to simplify the process and provide borrowers with what it calls an “instant home loan” experience.
What home loans does Tic:Toc offer?
Tic:Toc offers a range of home loan products for both owner-occupiers and property investors, with either variable or fixed rates that range from one to five-year fixed. Interest-only home loans are also available. See a full list of home loans on Tic:Toc’s website here.
If you’re a first home buyer or struggling to save a 20% deposit for your home, Tic:Toc also offers low deposit options with a loan-to-value ratio (LVR) as high as 90%.
Tic:Toc home loan features
Tic:Toc home loans offer a range of features such as:
- Instant assessment: The home loan application assessment and outcome are 100% online and can be done instantly.
- Fee-free loans: Tic:Toc home loans don’t come with any type of upfront or ongoing fees.
- Offset account: Customers can add on an offset account to a home loan for $10 per month.
- Additional repayments: Free unlimited additional repayments are allowed.
- Redraw facility: Tic:Toc offers free unlimited redraw on any additional repayments.
How to apply for a Tic:Toc home loan
To be eligible for a home loan from Tic:Toc, you need to:
- Borrow between $50,000 and $2,000,000
- Buy or refinance an established home that’s worth at least $150,000. Lands or off-the-plan purchases aren’t eligible.
- Buy within a capital city or major regional centre
- Have a minimum of 10% deposit or equity for an owner-occupied home loan, or 15% deposit or equity for an investment or interest-only home loan
- Be an Australian citizen or permanent resident and live in Australia
- Supply a form of ID for each applicant
TicToc has a six-step “instant application” process that can be executed online as follows:
- Tic:Toc runs a digital property valuation to assess the loan amount you can borrow
- Tic:Toc then provides a couple of options suitable for you and your circumstances
- The customer provides a form of ID
- The customer provides estimates of income and expenses
- The customer receives the outcome in just a few minutes
- Upon approval, loan docs will be sent out to the customer, which usually take 30 minutes to two days
To ensure that your home loan application is completed within the promised 22-minute timeframe, be sure to have the following documents handy:
- The address of the property you’re purchasing and its estimated value
- How much you would like to borrow for your home loan
- Your household income before tax
- Your estimated household expenses (e.g. groceries, utility bills, childcare)
- The latest three months of your transactional statements