Credit Impaired

Had credit problems in the past? Don’t fit lenders’ traditional criteria? Don’t despair. With today’s wide range of home loans and lenders, even people considered ‘credit impaired’ can now apply for a home loan.

These loans, known as non-conforming home loans, are specifically designed to suit people who are:

  • self employed
  • no longer working full-time and/or retirees
  • credit-impaired
  • contractors
  • seasonal workers

How they work


Non-conforming home loans work like most other loans. Borrowers can choose from a range of loan types including variable, fixed and split rate loans and popular features such as line of credit, redraw and offset.

Because credit impaired and non-conforming borrowers are regarded as higher risk, most lenders charge a slightly higher interest rate and/or a higher fee structure than for traditional loans. Non-conforming loans can also be less flexible (particularly when it comes to refinancing).

Be careful to watch out for exit fees on these style of loans. These style of loans may help you in the short term to get you back on your feet, but always ensure that you understand the terms and conditions of these facilities before you sign the letter of offer.

Like to know more about the home loan process then review our Guide to Home Loans.

If you would like to discuss your situation please call us or complete the form below and we will contact you.

Office Contact Details

Phone: 02 - 4272 8250

Fax:       02- 4271-8567

General Information:

Direct Email:


info@cfsfinance.com.au

david@cfsfinance.com.au

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Like To Get Your Mortgage underway?

To help us help you we have developed an online application form that collects all the necessary information we need  to assess your situation. Please take the time to complete online, its secure and easy to complete. We will receive a confirmation through our system and will contact you to discuss your situation in more detail. It only takes a few minutes to complete. Just simply click the apply online button.

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David Carruthers is a credit representative (Credit Representative Number [400226]) of BLSSA Pty Ltd (Australian Credit Licence No. 391237).