Why should I get a mortgage with Dome Finance?
With years experience in the home loans market, and introducing lower interest rates and home loans that are much more flexible we make it easy to buy a home.

We offer the same low interest rate to home owners and investors alike, without discrimination, and unlike the banks, we don’t charge you monthly fees!

How do I get a loan with you?
Call us now on (03) 9510 8555 and we'll get you started. Alternatively you can download an application form here and fax the completed form to us.

How long should a loan take to get approval after all information has been supplied?
Under normal circumstances and if there are no problems, once we have all the written documentation we require from you, approval is generally around 1-2 working days. However, this may vary according to your circumstances and also time of year.

How much can I borrow in my circumstances?
Your borrowing capacity will be unique. Contact us to find out how much you can borrow from Dome Finance.

I recently applied for a Home Loan with Dome Finance. What stage is it at?
To get the latest status of your Home Loan application, contact your consultant. They may not know the status immediately, but should be able to provide it quickly.

Can I arrange pre-approval of my loan, before I find a property?
Yes. It can be a great relief to know you have been pre-approved for a loan prior to find a property. As expected, pre-approvals are subject to a valuation of the property.

What is the minimum deposit required?
In some circumstances we may be able to look at a deposit as low as 10%, however there are various factors to be considered before we can advise what deposit you need in your own individual circumstances. Please call us to discuss.

What repayment options and interest rates do you offer?
Our home loan interest rates are available for owner occupiers and investors alike. They include a variable rate, 1 - 5 year fixed rates and 1 - 10 year interest only terms. Repayment options include interest only or principal and interest repayments, depending on the type of loan you have

Should I choose fixed or variable interest rates?
A variable rate is a good option if you want to repay more than your minimum repayment requirement to reduce the term of your loan. It offers you flexibility, like redraw, the ability to switch to a fixed rate at any time (from a standard variable rate at no cost), the option to switch between fortnightly and monthly repayments or increase your repayments when you can afford to. On the other hand, variable interest rates can move up or down at any time.

A fixed rate protects you from interest rate increases, however because the rate is fixed, it won't move down if interest rates drop. Additional repayments are limited and you don't get all of the flexibility of the variable rate, such as redraw. A fixed rate is useful if you like working to a monthly budget and are concerned about rate increases. Just remember, you will be charged a fee if you decide to move to a variable rate or pay off the loan before the end of the fixed period.

You can always split your loan between fixed and variable rates. This will give you the security of a fixed rate, with the flexibility of a variable product.

Can I switch between variable and fixed interest rates?
You can switch from a standard variable rate to a fixed one, at no cost or split into part-fixed and part-variable at any time (not available on a basic variable rate).

Switching from a fixed to variable rate is not so simple. Costs will apply if you break your fixed contract before the end of the fixed term. These costs will depend on current market rates, your loan balance and the portion of the fixed term remaining at the time you wish to switch. Call us for more information.

How can I pay my loan off quicker?
Every extra amount you repay into your loan will help pay it off quicker. There are three ways you can do this:

  • Make fortnightly instead of monthly loan repayments.
  • Repay more than your minimum repayment amount.
  • Make additional lump sum payments, wherever possible
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    What is a redraw facility?
    If you have a variable rate loan, your redraw facility allows you to make extra loan repayments when you can, and then withdraw these funds if you need them. It's a good idea to put any spare money into your home loan, as it helps you pay your loan off sooner. Even if you redraw some of the money, you will have reduced your interest payments for the time the extra money sat in your loan account.

    How is redraw calculated?
    Your redraw is anything extra you pay in to your loan above the minimum contractual payment.

    Is there a maximum redraw amount in any one month, provided there are sufficient redraw funds available?
    If your loan offers Redraw, the only limitations we place on the Redraw amount is that a) you have sufficient funds to cover the redraw, and b) you exceed or match the minimum redraw amount for your loan type.

    Can I take money out of my loan, if I need it?
    If you have a variable rate loan you are able to redraw any extra funds you pay into your loan. It's called a redraw facility.

    Can I change the frequency of my repayments?
    You will be able to switch from monthly to fortnightly to weekly and visa versa, at no extra charge.

    Can I change the amount I repay?
    If you have a variable rate loan you may choose to repay more than your minimum repayment amount in order to pay off your loan sooner.

    Can I make extra repayments?
    If you have a variable interest rate you can make extra repayments to help own your home sooner. You're welcome to make unlimited repayments on a variable rate loan at any time, at no extra charge. You can access any additional funds you repay through your redraw facility.

    What if I can't make a repayment?
    If you can't make a repayment for some reason, then contact us immediately to discuss your situation.

    How is interest calculated?
    Interest is calculated on your outstanding balance on a daily basis and charged to your loan account once a month. For this reason, and because of the number of days between interest charges varies, the amount of interest charged each month may also vary.

    The formula is: (Balance x interest rate % ) / 365 days in a year x number of days in the current month.

    Can I borrow more money and increase the size of my loan?
    It may be possible for you to borrow more money in the future by increasing the balance of your loan account, based on the equity you have built up in your own home. This will require a variation to your loan. Naturally, the amount you're able to borrow will depend on the Dome FInance lending criteria and your ability to repay the increased loan amount and any applicable charges. Contact us for more information.
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