Home Loan Ready by Frollo

What is Home Loan Ready?

Taking out a Home Loan is most likely going to be the biggest financial commitment you make in your life, so we want to help you prepare.

The Home Loan Ready app gives you an easy and accessible way to prove to yourself and show your lender that you can make your future repayments and still live the type of lifestyle you want - whether that’s your annual European holiday or Friday night Uber Eats.


Set up your challenge

Input your future home loan repayments, your current rent and choose the length of your challenge.


Connect your savings account

No matter who your savings account is with, you can easily and securely connect to Home Loan Ready to provide read-only account access, allowing you to monitor and track the savings you’ve made towards your goal.


Start saving and track your lifestyle changes

Start making the goal payments into your savings account and you’ll receive a weekly notification to track your comfort level inside the app. This will give you an early indication if the amount you are thinking of borrowing is right for you or if it’s too much of a stretch with your lifestyle.


How does it work?

Creating your account is simple, with a quick set up of your repayment challenge by inputting your current rent payments and your goal details.

Home Loan Ready calculates the repayment gap between what you are currently paying in rent and what you would be paying after taking out a mortgage for a home. This is the extra payment you will be making throughout your challenge.
As this is a simulated repayment challenge, you are not actually paying anyone. Instead, connecting your savings account allows you to save that extra money you’re putting aside. Connecting your bank account also lets you see what areas are impacting your ability to make these extra repayments, providing you with smart savings recommendations when needed.
You can set the duration of your challenge to really feel the impact of home loan repayments. We recommend anywhere between 12 weeks to 24 weeks.

Take the next step and get Home Loan Ready today