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How to apply for a loan

Applying for a home loan is easy. Our friendly team will give you all the help you need.

How to apply

To make sure your application is as quick and easy as possible, you should bring the following along when you come to see us:

  • Your 2 most recent pay slips or last 2 years Financial Statements and Notices of Assessments (if self-employed)
  • Evidence of rental income – rental statements or copy of lease
  • The most recent 3 months transactions on all bank accounts and credit card accounts on all non Cairns Bank accounts
  • 6 months of all Loan statements for all non Cairns Bank loans
  • Statements on superannuation and shares held
  • Current rates notice on all properties
  • If you have already bought a property – a signed copy of the Contract of Sale
  • Personal identification
    • Licence
    • Passport/or Birth Certificate and Medicare Card

Book an appointment

Interest rates from.

6.39% p.a.,1

Comparison rates from.

7.34% p.a.,1


Enjoy competitive fixed and variable rates on your home loan.

Home Loan FAQs

Who is Cairns Bank?

Cairns Bank is the trading name of Cairns Penny Savings & Loans Ltd. We’ve been supporting the Cairns community with their banking needs for over 125 years.

We take pride in our personal approach to banking. Getting to know our customers and delivering simple products and services is what we’re all about.

And as a customer owned bank we make decisions based on our customers’ needs, rather than the needs of shareholders.

A fixed rate loan allows you to lock in your interest rate for a fixed period of time, protecting you from rate rises. However, it’s important to keep in mind break cost fees may apply.

A variable rate loan on the other hand, has an interest rate that can change over time, depending on what is happening in the market. While this could see your repayments go up or down, often a variable rate home loan can come with greater flexibility.

During your home loan search, you may notice two interest rates are listed – the interest rate and comparison rate.

The comparison rate, includes other fees associated with the loan, allowing you to see the true cost of the loan. Comparison rates will use a sample loan amount and term, so it is wise to take the time to run the numbers for your specific circumstances.

Here at Cairns Bank, our comparison rates are calculated on a loan amount of $150,000 over 25 years with monthly repayments.

The Loan to Valuation Raio (LVR) is the amount you borrow against a property calculated as a percentage of the value of your property itself. For example, if your loan amount is $400K and Cairns Bank’s security value of your property is $500K, then your LVR is 80%.

If your deposit turns out to be less than 20% of the property’s value, which was the case in the above scenario, then Lenders Mortgage Insurance (LMI), is likely to apply. To put it simply, LMI is a one-off payment, which is typically added to the loan amount. It protects the lender if you were to default on the loan.

Buying or refinancing

Looking to buy a home or refinance your loan?

First home buyer

Deposit at the ready? We can help with a loan for your first home

Investment property

Need finance for your investment property portfolio?

Home insurance

When you take out a home loan with Cairns Bank, you’ll need the cost of the home to be covered by home insurance. If you need a hand making sure you’re properly covered get in touch with our insurance partners today.

Apply for a home loan today

To find out more or to apply for a home loan, book an appointment with our friendly team or visit us in branch.