Loans FAQs

You may submit an application for assessment, but you will need to become a Member of Gateway Bank before a loan is funded.

Lodge your application with Gateway or apply online at www.firsthome.gov.au or in person at any Office of State Revenue.

Contact us online or call 1300 302 474 (Monday - Friday, 8am - 6pm AEST). We’ll assess your application and if approved, arrange for your current loan to be paid out.

You can borrow up to 80% of the value of your property or up to 95% of the value of your property with Lenders Mortgage Insurance. To get an indication of how much you can borrow, check out our calculators or call us on 1300 302 474 (Monday - Friday, 8am - 6pm AEST) and speak to one of our Lending Specialists.

To be eligible for a Green Home Loan the security property must contain 3 of the following environmental features:

  • Solar & photovoltaic (PV) panels
  • Solar battery storage systems
  • Solar hot water systems
  • Gas hot water systems
  • Solar pool heaters
  • Solar hydroponic heat pump systems
  • Rainwater tanks
  • Water pumps
  • Grey water treatment systems
  • Home insulation that meets government standards for geographic area
  • Certified double glazing for windows
  • Split systems, evaporative cooler or star rated zoned air conditioning units with either a minimum
  • Energy rating 4/6 stars or minimum 6/10 stars
  • Energy efficient LED lights in over 75% of the property

 

Simply complete a Statutory Declaration confirming which features your property has and upload it with your home loan application as supporting documentation.

Credit criteria applies.

To be eligible for a Green Plus Home Loan the security property must have a 7 Star or higher NatHERS energy efficiency from a certified NatHERS assessor.  Please Note: If you live in the ACT you will need an equivalent 7 Star or higher energy efficiency rating from a rater licensed in the ACT.

You will need to upload the certificate with your home loan application as supporting documentation.

Credit criteria applies.

The Green Home Loan and Green Plus Home Loan both offer a discounted interest rate from Gateway’s standard Premium Package Home Loan. Gateway has made the decision to offer this discounted interest rate to reward Members who have taken steps to reduce their impact on the environment through their home. At Gateway, we believe that doing the right thing for the planet shouldn’t cost you more.

Gateway’s Green Home Loan and Green Plus Home Loan both offer the flexibility and benefits of our Premium Package Home Loan alongside a discounted interest rate to reward Members who have made steps to reduce the impact of their home on the planet.

Both Green Home Loans interest rates are linked to the Premium Package Base Rate and will have an interest rate which is at a discount to the standard Premium Package Variable Rate Home Loan, excluding Special rates.

The Green Home Loan offers a 0.15% discount from the Gateway Premium Package Home Loan (up to 80% LVR) while the Green Plus Home Loan offers a 0.25% discount from the Gateway Premium Package Home Loan (up to 80% LVR).

You need to have saved at least 5% of the value of the property plus sufficient funds to cover stamp duty and conveyancing costs. A deposit of between 5% and 20% of the property value will require Lenders Mortgage Insurance (LMI).

Gateway’s Eco Personal Loan has been designed to reward Members who are looking to invest in projects and purchases that are environmentally friendly and will reduce their impact on the planet. To this end Gateway’s Eco Personal Loan offers Members our lowest rate unsecured loan while coming with all the flexibility and benefits of being a Gateway Member.

  • No ongoing fees
  • Make unlimited extra repayments to pay off the loan sooner
  • Ability to access additional repayments through redraw
  • Manage your account 24/7 via online and mobile banking

In order to be eligible for a Gateway Eco Personal Loan you need to be using the funds for the purchase or installation of a feature that will reduce your impact on the environment. This could be one of the following:

  • Solar & photovoltaic (PV) panels
  • Solar battery storage systems
  • Solar hot water systems
  • Gas hot water systems
  • Solar pool heaters
  • Rainwater tanks
  • Water pumps
  • Energy efficient LED lights

 

Credit criteria applies.

Lenders Mortgage Insurance (LMI) protects the lender in the event of the borrower defaulting on their home loan. If the property is sold and the amount from the sale is not sufficient to repay the loan in full, the LMI insurer will make a payment to the lender to cover the shortfall. The LMI insurer may seek recovery from the borrower where the LMI insurer has paid the shortfall to the lender.

A comparison rate is used to help borrowers see a more complete cost of a loan, it factors in the interest rate and any associated fees with the loan – displaying it as a single percentage rate. This allows borrowers to more easily compare loans across the market.

A valuation is a professional assessment of how much a property is worth.

Upon receipt of the signed offer and the correctly completed loan documentation.

Payments received by Gateway for repaid loans will be automatically credited to your Savings account held with Gateway. If you have a Direct Credit to your account from another institution you will need to contact them directly to cancel the authority. Direct debits are automatically cancelled when the loan is paid out.

We encourage you in times of genuine financial hardship to contact us immediately on 1300 728 995 (Monday - Friday, 8am - 6pm AEST) to discuss your situation.