The loan with no fees ‑ only for homeowners

Apply for up to $70,000 to improve your home.

No fees to pay1

7.95% interest-only for the first year2

It's the easiest way to borrow on the house without talking to the bank.

Apply now

Benefits of a Homeowner's Loan

No fees.

No establishment fees. No ongoing fees. No early repayment fees. (But we may still recover our costs in the event that you default on your loan).


Interest-only term.

Pay interest only for the first year to help get you on your way.   

Borrow on the house.

Apply for a loan of up to $70,000. (security may apply)

Bundle it onto the mortgage.

We can help get you a great deal and a structure that works for you. 

Why use a Squirrel Homeowner's Loan?

A Squirrel Homeowner's Loan gives you the freedom and flexibility to take care of all your home renovations, upgrades and cool stuff for the house when you want with a loan of up to $70,0003


Applying is quick and easy. With no establishment fees, no early repayment fees and an interest-only term for the first year to help get you on your way. At the end of the interest-only period, the loan will automatically roll onto a standard principal and interest loan over a term of 5 years. 


Because there’s a lot more to Squirrel, one of our mortgage advisers can help you bundle your Homeowner's Loan into your mortgage at any time (if you’d like us to). We’ll happily help get you set up with a mortgage structure that’ll work for you and help save you money - with a great rate to boot. And the best part is we can organise it all with the bank on your behalf if that works for you. It truly is the easiest way to borrow on the house without talking to the bank.    



How does it work?

1. Apply for a Homeowner's Loan

You can apply for up to $70,000 to tackle a home renovation or exciting purchase for the house. Applying is quick and easy and done entirely online. You’ll need to be a home owner, satisfy our lending criteria and we’ll need the ability to take a security interest over your property for loans over $20,000.


2. Make repayments

Once you’ve been approved, accepted the terms and drawn down the loan, you’ll start making your scheduled repayments4. The first year of your loan will be interest-only and after 12-months the loan will transition to an amortising 5-year fixed rate loan. If you’d like a different term (of between 2 and 7 years), we can help transition your loan into that term (funding and lending criteria apply). You can also make additional repayments without penalty at any point during the loan term. 


3. Bundle it into the mortgage (if you want to) 

We can also help you bundle your homeowner's loan into your mortgage at any point you choose - which should save you money. We can take care of the whole process and set you up with a mortgage structure that’ll work for you. Or you can keep the loan as a personal loan, in which case we'll lock in a great rate and spread the repayments over your chosen term. 

Features of a Home Owner's Loan


Borrow anywhere from $1,000 - $70,0003


1 year interest-only followed by 5 years of principal and interest

(Terms of 2 to 7 years available3)

INTEREST RATE2 1-year interest-only 7.95% p.a. 
2 - 3 years 8.95% p.a  
5 - 7 years 9.95% p.a. 
FEES1 $0 Establishment fee
Check out our fees table here.
SECURITY Owner-occupied house for amounts over $20,000


1If you or a guarantor default on your obligation, you may be obliged to pay costs and expenses for enforcement.
2Rates shown are based on current rates. Rates are subject to change.
3Affordability, responsible lending and credit criteria apply. Subject to available funding.
4If your loan falls into arrears, a default interest rate of 10% p.a. will be added to your fixed interest rate and remain in place until your loan is back on track and out of arrears
Example: A borrowed amount of $10,000 over 1-year interest-only would result in repayments of $68 per month at 7.95% p.a. (not risk graded). If a payment is missed or a loan is in arrears for a period of time, default interest may apply. Check out our fees page. 

Not a homeowner? Click here to check out our other loans on offer. 

Is a Homeowner's loan right for you?

A Homeowner's Loan is not the right option for everyone. It's aimed at borrowers who are home owners and looking to do a renovation on that property or make a major purchase. It's great as a stand-alone personal loan or we can help you bundle the loan into your mortgage within the first year.

Apply for a Homeowner's Loan today! Apply Now