100% Finance Home Loan
This is a fully featured variable or fixed
rate home loan to assist only with the purchase of owner-occupied residential property. It is available only for first home buyers, with limited or non-genuine savings, or who wish to use the funds not
sourced from their own savings (eg. a gift from parents).
- No savings required
- 9.27% p.a. variable interest rate (comparison rate 9.34% p.a.* )
- Free unlimited extra repayments and 100% offset
- No account keeping fees
- Interest only and fixed rate options
It is ideal for customers who may be uncertain of their future and want the peace
of mind of knowing that their home loan is flexible enough to accommodate their
changing circumstances. Repayments can be tailored to suit individual needs.
100% Finance Home Loan
| Purpose |
Purchase of an owner occupied residential property.
The First Home Owners Grant (FHOG) is only applicable to owner-occupied properties |
| Loan Type |
Owner Occupied & First Home purchase |
| Minimum Loan |
$50,000 |
| Maximum Loan |
$500,000 |
| Maximum LVR |
97% on standard owner occupied residential property value plus 3% full lenders mortgage insurance capitalization |
| Ongoing Account keeping fee |
No monthly or annual service fees apply |
| Term |
Minimum 12 months.
Maximum 30 years |
| Redraw Facility |
Redraw available for Variable rate loans with no cost. Amounts via debit card and direct debit at a fee $1.50 per transaction |
| Lump Sums |
For
Variable Rate loan it is available at any time. For fixed rate loans the
maximum additional repayments are up to $10,000 in a 12 month period
without penalty. Prepayments that exceed this tolerance may incur an early
repayment cost |
| Interest Only Option |
N/A |
| Fixed Rate Option |
1, 2, 3, 4, 5, 7, or 10 years (At the end of the fixed rate term the loan will automatically roll over to the variable rate unless another fixed rate term is elected) |
| Split Loan Option |
Customers can split loans with the option of 2 variable rate loan and up to 2 fixed rate loans |
| Repayments |
Principal & Interest can be made monthly, fortnightly or weekly |
| Features |
- Direct Salary Crediting
- Debit Card
- Phone Banking
- Portability provides for the loan to be transferred from one property to another
|
* Comparison rate is based on a $150,000 loan over 25 years.
Online Application - with our secure form it takes only 5 minutes to get an obligation free pre-approval.
