Our home loan options open more doors

You will need to have documents supporting your current financial position such as recent bank statements, payslips or other proof of income, personal identification and a snapshot of your current asset and liability position.

For PAYG applicants, we require two current payslips plus one of the following:

• Most recent group certificate
• Most recent tax return / taxation notice
• Current letter of employment
• Bank statements – to confirm your last 3 months of salary

For Self-Employed applications, we need your last two years Tax Returns, two years Tax Assessment Notice and last 1 month’s business bank statements. If you’re self-employed and unable to provide these documents, you may still qualify for an alternative documentation (alt doc) loan. Find out more in our Easy Guide to Alt Doc Loans. 

On some of our loan options, we offer finance up to 95% of the purchase price, meaning you can start to look at buying a house once you've saved at least 5% of the purchase price. The deposit amount needed may also depend on the property and area you’re looking at purchasing.

Remember, you’ll also need funds to be able to cover any loan fees, stamp duty and other government charges. These can’t be added to your home loan balance.

Our home loan borrowing capacity calculator asks a few easy questions (personal and financial) to calculate an estimate of how much you may be able to borrow with us at Pepper Money. After finding out how much you could potentially borrow, you can then either speak to a Lending Specialist about your situation or continue to get an indicative interest rateˇ online.

See how much I can borrow

The interest rate offered, and fees and charges will depend on our assessment of a number of factors at the time of application including:

• The amount of your deposit or existing equity (if refinancing)
• Nature of the security property (or the property you have equity in if refinancing)
• Loan to value ratio (LVR)
• Your income
• Credit history
• Any assets you own
• Any liabilities or credit obligations
• Chosen repayment type – paying off interest-only, or principal and interest
• The purpose of the loan – if it’s for an owner-occupier or investment property

To get an indicative interest rateˇ, you can start by using our online borrowing power calculator, or speak to one of our Lending Specialists on 137 377.

The total amount of interest that is paid on your mortgage is determined by your loan size, duration of the loan and the interest rate charged. Interest is usually calculated daily on your outstanding loan balance, then collected when you make a repayment.

As the interest rate is key to the total amount of interest payable over your loan, we’ve made it easy to get an indicative interest rateˇ from Pepper Money online. We’ll first ask you to answer a few questions to determine how much you could borrow. Then we’ll ask a few more personal questions to access your credit file and provide you with an indicative interest rateˇ.

Let’s get started

Certain Pepper Money fees can be added to your loan balance, while others will need to be paid upfront – fees that can be added include establishment or application fees, as well as risk fees or lender protection fees. A small admin fee will be added to your loan each month. 

Take a look at a summary of our home loan fees.   

The fees that can’t be added to your loan balance include solicitor fees along with local and state government taxes and levies – these are usually paid upon settlement.

Your Pepper Money Home Loan Journey – from application to actual settlement – can take up to six weeks – this is the typical timeframe for a home purchase, however, the process may be quicker if all the necessary documentation is provided sooner. 

Delays in decisions are most commonly caused by incorrect or missing documentation. 

Learn more about the Pepper Money Home Loan application process or for more information speak to a Lending Specialist on 137 377.

Loan to Value Ratio, also known as LVR, is the percentage of the loan size in relation to the property’s total purchase price. The size of the deposit plays a key role in what the LVR is, as the larger your deposit, the lower your LVR will be. Your LVR can impact interest rates and loan products that will be available to you, and it can determine whether you’ll need to pay a lender protection fee (LPF), or other risk fees.

To calculate your LVR, divide the amount you need to borrow (e.g. $400,000) by the value of the property (e.g. $500,000) and multiply this by 100 to give you a percentage. 

$400,000/$500,000 x 100 = 80% LVR. This would mean you have a 20% deposit of $100,000 towards your $500,000 property.

While a high credit score might help you get a low interest rate with the banks, credit history issues or a lower credit score is something we specialise in as a non-bank. Non-bank lending options, like ours at Pepper Money is how it may still be possible to apply for a home loan in Australia with a less-than-perfect credit score. We take a real life approach and look beyond just your credit score to see what we can do to help.

Talk to a Lending Specialist about your situation. We're here to help.

We’re one of Australia's leading non-bank lenders! 

We were established way back in 2000 to help Australians achieve their financial dreams by providing flexible financial loan options that could factor in the ups and downs of real life. Since then, we’ve become one of the largest, most trusted, and award-winning non-bank lenders in Australia and New Zealand.