You can obtain an instant pre-approval online which will tell you the maximum amount you can borrow. Click on the pre-approval icon on the Pioneer website and enter your details. Alternatively, visit our Online Calculators page to find out how much you can borrow, with access to a number of other helpful calculators. The amount you can borrow is determined by certain lending criteria which ensures that your current income is enough to make the repayments on the new home loan as well as any other liabilities you may have when applying.

 

Pioneer doesn’t have any shopfronts or branches. We have been operating without branches for over 25 years which helps keep our costs down and enables us to offer competitive interest rates and no ongoing fees. We provide fully featured secure internet and phone banking to enable you to access your home loan accounts in the comfort of your home and at a time that is convenient to you. Our service consultants can be contacted during standard business hours Monday to Friday on 13 13 91.

 

To find out more about Pioneer, please visit the About Us section on this website. Pioneer’s head office is located in Varsity Lakes, Queensland Australia. All functions related to the origination and management of our home loans is managed in the head office. Our call centre is also located in our head office. Pioneer has thousands of accredited mortgage brokers and introducers located throughout Australia.

 

Please see our interest rates & fees table. As we have a large amount of products, if you require a product other than a standard product, we will contact you to advise of the applicable interest rate or you can call us on 13 13 91 or contact us if you have a query.

 

Yes we do! You may have fixed, variable or interest only options for your loan. We also consider multiple securities when applying for a loan. Our investment loans are at the same interest rate as our owner occupied home loans.

 

Yes we do! Subject to you meeting our loan assessment criteria, we will be able to assist you in constructing your home. Our Constructions team is very well experienced and will ensure you are kept up to date at each stage of construction. Visit our Product Range page to find out more on our construction loan product.

 

Normally when a term loan is established, the repayments are set up as Principal and Interest. This means that for every repayment required on the loan, the amount will be made up of interest on the loan as well as some of the principal balance of the amount you borrowed. If you choose Interest Only, you will only be repaying the interest on the loan. You won’t be reducing the loan amount that you borrowed. For example, if you have a $200,000 home loan as interest only for 3 years. You make the required monthly repayments and at the end of the 3 years, your loan balance is still $200,000 because you have only been paying the interest. Interest Only is ideal for investment loans or if a borrower is wishing to have lower repayments for a set period.

 

Interest is calculated daily on the outstanding debit balance of the home loan and charged monthly. You can reduce your interest by making additional repayments into your loan to reduce the balance and you will still have access to those funds through redraw. If you have a line of credit account the interest is calculated daily only on the outstanding debit balance, not the credit limit.

 

Most of Pioneer’s Term Loans have a redraw facility available which allows you to redraw any additional repayments you have made. Redraws can be processed online through internet banking or phone banking at no cost, as often as you like, whenever you need the funds. If you would like Pioneer to process a redraw for you, a manual redraw fee of $50 may apply. Some products may restrict redraws while the loan is on a fixed interest rate. Contact one of our Client Service Consultants on 13 13 91 or email us if you need assistance or would like to know more.

 

For most standard products, if you borrow more than 80% of the property’s value (% can vary depending on product) you will be required to pay a mortgage insurance premium. This premium is calculated as a percentage of the loan amount you borrow. Mortgage Insurance protects the lender in the event that you cannot repay your loan and the lender may incur a loss as a result.

 

If we receive a completed application form and all of the required documentation, we can settle in as little as one week. However the timeframe is dependent on a number of other parties such as the valuer, mortgage insurance approval if required, production of loan contracts and liaison with your solicitor to set a settlement date. The timeframe can also be extended if you are refinancing, as the settlement will also be reliant on the bank where you are refinancing from doing their part. Your loan will be processed much quicker if you provide all of the required information at the start.

 

Your solicitor will advise you when your loan has settled. We will prepare a settlement pack which will be sent to you within a few days of settlement confirming your loan details. If you have a home loan with an access card, you will receive the access card and password in 7-10 days after settlement. We also give you a call within the first few weeks after settlement to answer any queries you may have about your loan. If you have any queries about your new loan you can call us on 13 13 91.

 

Pioneer Direct’s interest rates are priced lower as everything is handled online or over the phone. Clients are welcome to call us if they require assistance during the application process. As Pioneer has thousands of accredited introducers throughout Australia, we can put a client in touch with a mortgage broker to assist them with the application process, however the lower online interest rates won’t apply.

 

If you are refinancing your home loan, you can apply online and select refinance as an option at the start. We will process your application as normal and we will liaise with your existing lender to arrange the transfer of the loan over to Pioneer.

 

Yes, you can split your loan up to 4 individual splits. A split loan can be beneficial if you want some security in your loan repayments by having half of your loan on a variable rate and the other half on a fixed interest rate. You can choose the percentage or the amount you want in each loan split.

 

Most of Pioneer’s Term Loans have a redraw facility available which allows you to redraw any additional repayments you have made. Redraws can be processed online through internet banking or phone banking at no cost, as often as you like, whenever you need the funds. If you would like Pioneer to process a redraw for you, a manual redraw fee of $50 may apply. Some products may restrict redraws while the loan is on a fixed interest rate. Contact one of our Client Service Consultants on 13 13 91 or email us if you need assistance or would like to know more.

 

If you or your spouse have never owned a property or have never claimed the grant previously, in most cases you will be eligible. To find out more about the First Home Owners Grant, you can access our helpful links menu to go to the Office of State Revenue website in your state. You can also apply online on these sites or in person at any Office of State Revenue.

 

It is very important to compare ‘like’ with ‘like’. A lower interest rate doesn’t mean the loan product will have all of the features you require. Check if the product is a basic product. Basic products normally only allow a limited number of features and if you require added features, you have to pay for each extra feature. With Pioneer’s products you can be assured that you are getting a fully featured loan product at a competitive interest rate. You also need to check that a loan with a lower interest rate doesn’t have ongoing monthly or annual fees, as lower interest rates are often have an annual fee.