My State Home Loan Review

My State Home Loan Review

Read Here for Our My State Home Loan Review:

MyState Home Loans from a 50 Plus Year Provider

If you are buying your first family home, look to MyState Bank to make your dream come true. You can also be an investor looking for available properties. Let MyState Bank help you. Home loans aside, they also offer savings accounts, personal loans and insurance products.

Who is MyState Bank?

MyState Bank is a Tasmanian organisation that has been operating for more than 50 years. Owned by MyState Limited, they have already served more than 135,000 customers throughout Australia. They have over 400 employees who offer home loans and other finance-related assistance to their Australian customers.

Choose from these MyState home loan products.

Whether you’re a first home buyer, a property investor or looking to refinance your existing loan, MyState Bank has something to offer you. They specialise in home loans that are easy to understand and simple to use.

  1. MyState Bank Basic Variable Home Loan

This simple, no-fuss home loan product can save you money with a low interest rate.

Key features:

  • Unlimited extra repayments
  • Free online redraws with no minimum amount requirement
  • No establishment fee for owner-occupied loans
  • No ongoing monthly fees
  • Deposit is eligible for parental guarantee
  • Also eligible for First Home Loan Deposit Scheme
  1. Special Residential Home Loan

This is a premium variable rate mortgage for customers looking for a home loan of at least $100,000. It comes with a 100% interest offset facility.

Key features:

  • You can make unlimited extra repayments
  • 100% interest offset facility
  • No ongoing monthly fees
  • No early payout fees
  • Redraw for free
  • Deposit is eligible for parental guarantee
  1. Fixed-Rate Home Loan

Select a term from 1, 2, 3 or 5 years so that you can have a fixed interest rate and know exactly how much you need to pay each month. This interest rate converts to the current Standard Variable Home Loan rate at the end of your selected term.

This product is ideal if you are buying an investment property, owner-occupied home, vacant land or refinancing your existing home loans from another lender.

Key features:

  • You can make additional repayments of up to $10,000 per fixed year
  • No ongoing fees
  • Deposit is eligible for parental guarantee
  • Also eligible for First Home Loan Deposit Scheme
  • No interest offset facility
  • No redraws

Am I eligible to apply for a MyState home loan?

To be eligible to apply for a MyState home loan, you must be:

  • over 18 years old
  • a resident of Australia
  • employed or have a regular source of income

What documents will you need?

Before applying for a MyState home loan, make sure you have all relevant documents ready. You will be asked to provide the following documents:

  1. Identification documents. These include a driver’s license, birth certificate and passport.
  2. Proof of income. You can submit your recent payslips to establish your income.
  3. Assets and liabilities. You need to provide documentation that shows your current assets and liabilities. These include investments and saving accounts (for assets) and credit card billing, personal loans, car loans and other outstanding debt (for liabilities).

Compare over 25 home loan products at once

Makes Cents helps you find home loan products that best suit your financial capacity and other circumstances. We allow you to compare more than 25 home loan product providers side by side all at once.

Comparing your options ensures that you don’t go in blind when it comes to choosing your home loan. Start comparing today to find the best product that is perfect for your unique needs.

Our My State Home Loan Review is just one of many. You can also read reviews on many more Home Loan Reviews at MakesCents.

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