IBA Housing Loans

Loan products
Loan amount
Interest rates
Loan term and repayments
Additional costs

Loan products

We offer housing loan products which could help you buy:

  • an established residential property
  • an established residential property and upgrade
  • land and construct a new home

Additional assistance is available to customers living in remote areas or who are relocating from remote area.

If you’re ready to apply for an IBA housing loan, register your interest in less than ten minutes using the online Expression of Interest Form (application opens in new window), or check out the Housing Loan Tools to estimate how much you may be able to borrow. If you prefer a printed copy of the Expression of Interest Form contact us.

You should check if you qualify for a housing loan from another lender (for example, a bank or credit union). If you do not qualify for a loan from another lender or are unable to borrow all the funds required to purchase a suitable home, you may be eligible for assistance from IBA. Generally, IBA only provides housing loans to customers with a combined total gross income up to $194,805 (effective as at 1 July 2018 and subject to change at any time).

We can talk to you about the assistance available from IBA and advise what information you will need to provide.

Loan amount


IBA staff can help you make an informed choice that suits your individual circumstances.

The amount that IBA lends you will depend on a number of factors such as your income and savings, your capacity to meet loan repayments and other housing costs over the term of the loan, the value of the property you are buying, the interest rate and the loan term.

In assessing each of these factors, IBA will take into account your:

  • employment income
  • other income you earn
  • rental history
  • housing and living expenses
  • current credit cards and loans (e.g. personal loans)
  • credit history
  • savings history
  • eligibility for the First Home Owner Grant scheme.

IBA will assess these factors at the time you lodge your housing loan application (after IBA has invited you to do so) and will then inform you of the amount you may be eligible to borrow.

Even if you qualify for an IBA housing loan, you may need to obtain part of the funds to purchase the home from another lender. If this is the case, IBA will advise you how much you will need to borrow from another lender.

You might like to use our Housing Loan Calculator to estimate how much you can borrow.


IBA has lower deposit requirements than commercial home lenders. The minimum amount of deposit you will need to contribute will depend on your income.

The minimum deposit amount for most first home buyers will only be $3,000, depending on your income. Different deposit requirements apply to first home buyers on higher incomes and to existing or previous home owners.

IBA requires you to contribute the maximum amount you have available as your deposit.

Assistance provided through the First Home Owner Grant Scheme can be used to meet the deposit requirements.

Read more about IBA Housing Loan Deposits.

Interest rates

IBA offers housing loans at a range of interest rates, depending on your individual circumstances and loan requirements.

The IBA Home Loan Rate is comparable to the standard variable mortgage rates of other lenders.

First home buyers may be eligible for a standard introductory interest rate which has a low commencing interest rate, capped for a minimum introductory period.

Customers who obtain part of their funds from another lender may receive an extended introductory interest rate which is capped for a minimum period of three years.

Introductory interest rates do not apply if the applicant has previously or currently owns a home. Applicants on fixed incomes, such as a pension, who qualify for an introductory interest rate, may be assessed based on their capacity to repay a higher interest rate to ensure that they can meet housing loan repayments over the term of the loan.

IBA will automatically adjust the interest rate on your loan in accordance with your loan agreement. For example, your interest rate may change when there is a change to the IBA Home Loan Rate or other rate applicable to your loan.

Read more about IBA Housing Loan Interest Rates.

Loan term and repayments

IBA loan terms are based on your capacity to make housing loan repayments. Generally, loan terms are designed so that you contribute the maximum you can afford towards your loan repayments.

Your loan repayments will depend on how much you have borrowed, the interest rate applicable and the term of your loan. If you qualify for an introductory rate, your loan repayments will increase in line with increases in the interest rate after the introductory period.

For an IBA loan of $300,000 offered at an introductory interest rate of 3.0% over a term of 32 years, the monthly repayments would start at $1,214. The total amount of repayments made over the 32-year loan term would be $579,253, with interest charged of $279,253.

Your loan repayments will be affected by changes in the interest rate and any charges made to your loan. IBA’s Housing Loan Calculator will show you the different repayments for different loan amounts and commencing interest rates.

Additional costs

You will be required to pay for other costs in addition to the purchase price of your home. These may include your property valuation report, building and pest inspections, conveyancing costs, state/territory-levied duties (e.g. stamp duty) and mortgage registration fees.

If you are a first home buyer and don’t have sufficient personal savings or access to First Home Owner Grant funds, an additional IBA loan may be available to finance these costs.

We can discuss these costs and any assistance available.

Read more about IBA’s Housing Loan Fees.

Read more

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