Where to go if the big banks say no: How you can still get your dream home loan


In this week’s blog post we look at how you can still get your dream home loan even if traditional lender’s may not say yes to you.

On Monday AA Finance Solutions was visited by a Business Development Manager from the short-term secured mortgage lending company Funding.

The private lending company are notable for giving loans to recipients who may have faced, or be more likely to face, an application rejection from the main and traditional lenders.

Funding provides loans for personal use and also for business use.

As a consequence, they can be a great alternative for those looking to get a mortgage but are a little outside the box.

Funding provides loans from twenty thousand dollars to ten million dollars plus for commercial and residential properties being utilized for personal or business purpose. Their loans are up to thirty-six months, and can be for purchases, refinancing, renovations, cash flow, construction, equity cash out, development, and more.

They cover locations that are fringe, regional, and metropolitan and will consider other places.


A secured loan from Funding is a fantastic short-term funding solution.

Funding provide bridging and business loans with rates starting at 6.95% per annum, and building loan rates at 7.5% per annum.

While valuations by Funding are necessary, they can be done at times online or at the side of the road in order to be quicker.

Meanwhile, Funding also do not need any evidence of presale in order for development.

Funding is also able to have the interest capitalised into your loan, which can be for repayments made throughout the term of your loan.

No repayments are necessary to be made by Funding clients during the term of their loan as Funding capitalise the interest at the beginning of the loan during the settlement process.

Consequently, they only have to pay it all when the term finishes and in one big amount.

The team at Funding also provide a simple process for loan application as well as a quick decision.

You will know if your loan is approved in a timeframe of three to five days, according to a company flyer.

The company provide straight-up contact with locally based credit team members in order to ensure fast feedback.

However, if you put in your loan application before twelve pm you will most likely get conditional approval on that day.

Loans from Funding on average require forty-eight to seventy-two hours to transition from the status of approved to being actually funded.

This may also vary because of each applicant’s unique situation, though Funding seeks to get loans turned around before forty-eight hours is up.

When applying for a loan you will have to provide documentation such as bank statements, payslips, leases, Centrelink statement, or accountant declarations.

It is also important to note that clawback commissions are not carried out by Funding.

It is evident that companies like Funding can provide a solution to potential homeowners struggling to find a lender.

However, it is important to remember that short-term loans secured against a property are likely to charge very high interest rates in exchange for the convenience and flexibility of these styles of loans.

Funding also charges a legal fee with GST or outlays, an establishment fee, and a valuation fee.

Their LVRs go to a maximum of sixty-five percent, and the security is a first and second mortgage with prepaid interest.

Therefore, make sure you are in a position to be able to pay back your loan as soon as possible to avoid having to pay exorbitant amounts of interest or not be able to pay it back at all.

Funding also require any clients to have an exit strategy such as refinancing.

Key points:

Here are several key points to consider when considering a loan with Funding.

  • Quick processing time.
  • Able to pay back the loan in a big amount at the end of the term.
  • Will accept many clients that traditional lenders and big banks will not.

Funding is a lender that anyone who falls outside the typical box might consider.


Ultimately, these short-term secured loans can help those who do not fit into the traditional bracket of clients that are accepted by the average lender.

However, it is important to be aware of all the conditions that come with such a loan.

If you or someone you know would like more information about this topic, or simply have a question about finance or mortgages, please get in touch with the friendly team at AA Finance Solutions.

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