A fixed rate loan with 100% offset account and the ability to make extra repayments? No problem!
The Community First Fixed Home Loan allows you to shield yourself against rising interest rates by locking in a fixed rate for one to three years, which gives you the peace of mind of stable home loan repayments for the fixed period of the loan.
|Product Name||Community First Fixed Home Loan|
|Interest Rate Type||Fixed|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$50,000|
|Maximum Loan Amount||$1,000,000|
|Minimum Loan Term||1 year|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Ongoing Fees||$0 p.a.|
- Make extra repayments every year up to $25,000 p.a.
- Access additional funds using the unlimited free redraw facility
- Borrow up to 95% of the property value
- A $300 discharge fee applies when you pay off your home loan (break costs may also apply if you pay it off during the fixed term)
What do I need to know about this mortgage?
The Community First Fixed Home Loan comes with no annual fees and a 100% offset account. It also provides the convenience of a redraw facility with no minimum redraw amount and the ability to make additional repayments of up to $25,000 per year without attracting a redraw penalty.
The Community First Fixed Home Loan is available for both owner-occupiers and property investors, with loan amounts of up to 80% of the purchase price (80% LVR) or up to 95% for those with Lenders Mortgage Insurance (LMI). It includes handy repayment options with your choice weekly, fortnightly or monthly repayments and accommodates those looking for a loan term of up to 30 years.
What makes the Community First Fixed Home Loan different?
By allowing borrowers to make additional repayments up to $25,000 per year, the Community First Fixed Home Loan accommodates borrowers whose goal is to pay off their mortgage as fast as possible, without slugging them with fees, charges and penalties for trying to get ahead.
Secondly, the Community First Fixed Home Loan provides an unlimited redraw facility with no minimum redraw amount. Again, many fixed home loans do not provide this facility and for those that do, they often include either restrictions or charges for using the facility. This flexibility allows borrowers to better manage their cash flow to ensure life’s little surprises are covered if they rear their head at the wrong time.
Know how much you want to borrow? Use our calculator to find out what your repayments will be
How to manage your Community First Fixed Home Loan
There's a number of ways you can manage your home loan with Community First, including Internet banking, mobile banking, telephone banking, via E-statements or over the counter at Community First's 13 Financial Service Stores.
Looking to have your fixed home loan pre-approved?
It takes just 24-48 hours to have your pre-approval arranged through Community First. You can also arrange to have a mobile manager come to you to sit down and assist you with the application process face to face and to answer any questions that you may have along the way.
To make an enquiry or to get the ball rolling with a pre-approval, simply contact one of their professionals.