Bridging Loan
A helping hand for your next purchase
Why a Bridging Loan ?
Flexible
You have up to 12 months from the date of settlement of your new property to repay your Community First Bridging Loan. Usually the sale of your current home will pay out the bridging loan.
Simple
Unlike some lenders, our bridging loans are interest only, with no repayments required monthly which can help with budgeting.
Choice
If you’ll still have a loan after paying out the bridging loan, choose from one of our other competitively priced home loans for this part of the loan.
Owner Occupied
| Loan Type | Interest Rate | Comparison Rate* |
| 1 Year Interest Only | 8.64% p.a.1 | 6.11% p.a.* |
Investment
| Loan Type | Interest Rate | Comparison Rate* |
| 1 Year Interest Only | 8.64% p.a.1 | 6.29% p.a.* |
Learn more about Bridging Loans – Download our free eGuide
A bridging loan can create a pathway for you to buy your dream home, before you sell your current one.
Community First has demystified how bridging loans work, plus outlined other options you might not be aware of, to help make the process of moving a little less stressful.
It’s all summarised in our handy eGuide which you can download for free.
Features and benefits
$0 annual fee
There’s no annual fee to pay on the bridging loan.
$1,500 application fee
Includes one standard valuation and one legal fee for one security property.
$0 monthly fee
There’s no monthly fee applicable for bridging loans.
How do bridging loans work?
Deciding to sell your current property and buy another one can present some challenges. Can you afford to buy before you sell? What if you find your dream home before you’ve sold your current home? Where will you live if you sell your current home and don’t find the right property right away? Bridging finance is a short-term loan that can help you buy the dream home you’ve just found while giving you up to 12 months to sell your existing home.
Home Loan Key Facts Sheet
Please take a moment to review the Home Loan Key Facts Sheet before you begin. Different interest rates apply based on loan purpose and repayment types.
Fees and charges
Refer to our fees and charges schedule for more information about fees and charges that may apply in relation to your loan.
Important notes
You can view Target Market Determinations here.
Credit eligibility criteria, terms & conditions, fees & charges apply. Illawarra Credit Union will need to hold a first registered mortgage over any properties being taken as security. Where a bridging loan is taken, all loans must be held with Illawarra Credit Union. The maximum LVR during the peak debt is 80%.
1Rate is current as at 05/03/2026 and subject to change without notice.
The comparison rate is calculated on a loan amount of $150,000 over a loan term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
