Home loans.

You need to have at least 5% genuine savings plus enough funds to cover fees and charges.

Where you have less than a 20% deposit, lenders mortgage insurance (LMI) or, if you are eligible, a First Home Loan Deposit Scheme Guarantee will be required. It’s best to talk to a home loan consultant to find out more.

Look at our home loan options.

The Defence Home Ownership Assistance Scheme (DHOAS) assists current and former Australian Defence Force (ADF) members and their families to achieve homeownership.

DHOAS is administered by the Department of Veterans' Affairs (DVA) on behalf of the Department of Defence.

DHOAS provides eligible current and former serving members of the Permanent Force and the Reserves with a subsidy on the interest of their home loans.

The subsidy is paid monthly, directly into a DHOAS home loan. The amount of subsidy you receive depends on your subsidy tier level and the balance of your home loan up to your subsidised loan limit. 

To learn more about Defence Bank DHOAS home loans click here

To find out more about DHOAS and your eligibility click here

Yes, we are one of the financial institutions who are able to offer this scheme to our members. To check your eligibility, visit the National Housing Finance and Investment Corporation (NHFIC) website.
Check if you’re eligible.

Eligibility for a DHOAS certificate is organised directly through the Department of Veteran Affairs (DVA). Once you have your DHOAS certificate, our home loan consultants can help find the best product for you.

Talk with one of our home loan consultants to find out more.

Portability of your Defence Bank DHOAS home loan may be possible if you don’t require additional funds to purchase your next home. Speak with one of our home loan consultants to discuss your situation further.

We also recommend you should always contact the Department of Veteran Affairs (DVA) before making any changes to your DHOAS home loan.

You and your partner will both need to be Defence Bank members to obtain a Defence Bank DHOAS home loan. The good news is that once you are a member, you will have access to our wide range of savings, investment, insurance and loan products.

Talk with one of our home loan consultants to discuss how we can assist you.

Where you borrow more than 80% of the value of your property, you may be required to pay for Lenders Mortgage Insurance (LMI). Where you are a first home buyer you may be eligible for a First Home Loan Deposit Scheme Guarantee in the place of LMI.

Talk with one of our home loan consultants to find out more.

The loan-to-value ratio (LVR) in relation to home loans is the amount of the loan expressed as a percentage of the value of the property being purchased or refinanced.

Each Defence Bank home loan product has a maximum LVR.

The LVR is expressed as a percentage. It is determined by dividing the amount of the loan by the property value with the answer then multiplied by 100%.

As a formula, LVR is expressed as follows:



Where the LVR exceeds 80% lenders mortgage insurance (LMI) or, if you are eligible, a First Home Loan Deposit Scheme Guarantee will be required. It’s best to talk to a home loan consultant to find out more.

Defence Bank’s Ultimate Package is a whole-of-banking package.  Under the package you can receive a number of discounts and waived fees on lending products and insurance, as well as general banking fees.

For more information about your specific situation, you can have a chat with one of our home loan consultants.

With variable interest rates, your repayment amount may increase or decrease in line with changing interest rates. With a fixed interest rate, you have the certainty of both the interest rate and repayment amount staying the same for the fixed period.

While we do not generally use family guarantees, talk to one of our home loan consultants to see if there is another way we can help you with your home loan.

Every situation is different, and there are a number of factors that can determine the best product for you. The best thing to do is to talk with one of our home loan consultants so that they can find the most suitable loan to meet your home purchasing goals.

Redraw is available on our range of variable interest rate home loans.

Most of our loans have an online redraw facility. If you have an older loan, you may need to call our Contact Centre  on 1800 033 139 or your local branch for assistance.

Having pre-approval can provide you with a sense of security when making an offer on a property. You can discuss getting pre-approval with one of our home loan consultants.

Most of our variable rate home loan products can have an offset account attached. The only exceptions to this are our Premier Low Rate home loans, and any fixed home loans.

Yes, Defence Bank is an approved lender for the First Home Loan Deposit Scheme. Talk with one of our home loan consultants to find out more.