Credit Union SA Refinance Cashback | Apply here for $2,000

What is Credit Union SA Refinance Cashback?

Credit Union SA's refinance cashback is a financial incentive offered to borrowers who switch their existing home loan to Credit Union SA. The bank provides a lump sum payment to eligible customers who meet specific conditions, such as a minimum loan amount and property type. Credit Union SA currently offers $2,000 cash back for refinancers. This cash is credited to your account after settlement, and you can save it or spend it how you like, with no strings attached.

How to Qualify for Credit Union SA Refinance Cashback?

Here are the eligibility criteria for Credit Union SA $2,000 refinance cashback offer:

• Maximum LVR of 80%
• Minimum loan amount of $300,000
• You must be switching from a lender other than Credit Union SA
• You must be a current or retired employee of the South Australian Education Community, a student studying education, or immediate family member
  

How to Apply for Credit Union SA Refinance Cashback

Refinancing your home loan to Credit Union SA and claiming the cashback offer involves several key steps. To ensure a smooth process, follow these steps carefully:

1. Check Eligibility Requirements – Review Credit Union SA's current refinance cashback offer to ensure you meet the criteria, such as the minimum loan amount, and loan-to-value ratio (LVR) requirements.
2. Compare Loan Options – Assess Credit Union SA's home loan products to determine the best fit for your financial situation, considering factors like interest rates, loan features (e.g., offset accounts, redraw facilities), and repayment flexibility.
3. Consult a Mortgage Broker – Working with a mortgage broker like Eden Emerald Mortgages can simplify the process by providing expert advice, handling paperwork, and negotiating the best loan terms on your behalf. They can also see if there are better cashback refinancing offers available.
4. Gather Required Documents – Prepare necessary documents, including proof of income (payslips, tax returns), existing loan statements, credit history, and property details, to streamline the application process.
5. Submit the Application to Credit Union SA – Complete and submit your refinance application. Ensure all details are accurate to avoid delays. 
6. Property Valuation and Credit Assessment – Credit Union SA will conduct a property valuation and assess your financial position to determine loan approval and cashback eligibility.
7. Receive Loan Approval and Settlement – Once approved, Credit Union SA will provide loan documents for signing, and your existing loan will be paid out, officially transferring your mortgage to Credit Union SA.
8. Cashback Payment Process – After settlement, Credit Union SA will credit the $2,000 cashback amount to your nominated account at the settlement of your loan.

Following these steps and working with a broker like Eden Emerald Mortgages ensures a smooth transition, as we handle the paperwork and liaise with the new lender and your existing lender. The best part is that using the services of EE Mortgages is 100% free for you, (we are paid compensation by the lender, not the borrower).

To speak to us, simply fill out the form here to get in touch.

Conclusion

Credit Union SA's refinance cashback offer can be an attractive option for homeowners looking to switch lenders and reduce mortgage expenses. While the $2,000 cashback provides short-term financial relief, borrowers must carefully consider the long-term benefits and costs of refinancing. Consulting with a mortgage broker like EE Mortgages can help you decide whether Credit Union SA is the right lender for you, and to guide you through the entire refinancing process.