Granite Home Loans Review | Experts' Review


flagFounded: 2018

businessOwned by: Privately Owned

monetization_onFunded by: Banks and Non-Bank Lenders

securityLMI Provider: N/A

account_balanceLender type: Specialist Lender


Granite’s 100% home loan has been withdrawn at the moment. However, it is offering a 95% no LMI home loan for professionals.

Granite Home Loans is an innovative specialist lender that provides a unique solution to borrowers by providing a 100% LVR loan without requiring guarantors or LMI. It aims to alleviate the pain of loan rejections faced by steady income earners who do not have current savings/deposits.

As a company started by previous expert employees of Genworth (an LMI provider), Granite doesn’t charge any LMI premium- a fact both noteworthy and ironic. It also specializes in providing competitive SMSF Residential and Commercial Loans.

Although the no-deposit and low-deposit products have been halted for some time, Granite plans to come back with their most valuable proposition soon. Their SMSF products provide exciting offers – no application fees for the month of November. They have also dropped their application rates by 0.2%, to match up to RBA’s drop of 0.15%.

How do Granite Home Loans compare?



  • Strict credit criteria for both income threshold and industry experience
  • Higher repayments in the earlier years
  • Higher total interest over the loan period
  • Comparatively higher loan fees such as loan establishment fees
  • Early exit fees apply to some of their products
  • No lump-sum repayments

What home loan products does Granite Home Loans offer?

Granite Home Loans mostly deals with two types of products – SMSF and Owner Occupied Loans. The latter is also classified as a “professional product” that provides the no deposit loan/ low deposit loan.

The three popular schemes of the low/no deposit Loans are GRANITE100, GRANITE97 and GRANITE 90. As the name suggests, the numbers at the end each denote the maximum loan to value ratio they’ll lend based on the property value.

The absence of LMI and Guarantor requirements to secure such a high LVR loan makes this scheme unique in the market.

Considering the fact that most major lenders have pulled out of SMSF lending, Granite is one of the few remaining lenders in the SMSF space. Their SMSF loans provide a maximum LVR of 80% for residential lending and 75% for commercial lending. It comes with 100% offset accounts, Internet Banking. The maximum loan amount for their SMSF offering is $1.5 million.


Requirements for getting the GRANITE95 Loan

It is important to note that the requirements for getting a 95% LVR Loan are pretty strict and standard. The following criterias should have been met:

  • Australian citizen or permanent resident with corresponding VISA (living and working in Australia)
  • Completed University education
  • Employed in the same professional industry for 3 years
  • In case of self-employed: Minimum 24 months ABN with profit reported each year. (Less than 12 Months accepted if contractor based on previous PAYG role (i.e. IT Contractor)
  • Strong Credit History
  • Professional roles such as Lawyer, Doctor, Medical Professional, Network Engineer, IT/Telecommunications, Software Developer, Accountant, Auditor, Executive, Manager (White Collar professionals)

Please speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or fill in our free online enquiry form.

Tip for applying with Granite Home Loans

If you are a young professional with a good, steady income source and are looking to get your own house without having to depend on your parents for deposits, GRANITE100 might be a great plan for you.

However, the lender’s risk of providing the full loan is shifted onto the higher interest rate, increasing the total loan cost for the borrower.

Similarly, the SMSF service gives a flexible option of repayments and repayment methods, along with lower rates.

To know more about the loan types and their checklists, give us a call on 1300 889 743 or fill in our free online enquiry form.

*COVID -19 Note : The application for GRANITE100, GRANITE97 and GRANITE 90 No LMI products have been halted until the current environment settles and becomes more clear. However, the 95% LVR No LMI product is expected to be launching next month onwards.

Compare Granite Home Loans to other lenders

There are a lot of lenders to choose from, including non-banks like Bank Australia, to second-tier lenders and major banks.

Where do you start?

Every day, more and more Australians are turning to a mortgage broker to compare lenders and help them to choose the right home loan product for their situation.

Speak with one of our specialist brokers today by calling us on 1300 889 743 or complete our free assessment form and we’ll get back to you to discuss your options.

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