CUA Fixed Rate Home Loan

Rates and Fees verified correct on December 9th, 2016

The CUA Fixed Rate Home Loan offers a range of attractive features with a competitive rate

A fixed rate home loan means you can relax knowing your repayments won’t change for the length of the fixed term. You can plan your budget with more accuracy knowing your cash flow won’t change if interest rates rise and this fixed home loan doesn’t charge you any account-keeping fees.

What’s more, you have the option to make up to $5,000 in extra repayments, and loans taken for investment purposes have the option of interest-only repayments. If you also hold a CUA savings account, you can qualify for free extra transactions.

Interest Rate Max Insured LVR Max LVR
1 Year Fixed (Owner Occupier)
3.69% p.a.
Comparison Rate
4.65% p.a.
95% 80%
1 Year Fixed (Investor)
3.69% p.a.
Comparison Rate
5.02% p.a.
95% 80%
2 Year Fixed (Owner Occupier)
3.69% p.a.
Comparison Rate
4.56% p.a.
95% 80%
2 Year Fixed (Investor)
3.69% p.a.
Comparison Rate
4.89% p.a.
95% 80%
3 Year Fixed (Owner Occupier)
3.89% p.a.
Comparison Rate
4.53% p.a.
95% 80%
3 Year Fixed (Investor)
3.89% p.a.
Comparison Rate
4.83% p.a.
95% 80%
5 Year Fixed (Owner Occupier)
4.28% p.a.
Comparison Rate
4.57% p.a.
95% 80%
5 Year Fixed (Investor)
4.28% p.a.
Comparison Rate
4.81% p.a.
95% 80%
Product NameCUA Fixed Rate Home Loan
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Minimum Loan Amount$10,000
Maximum Loan Amount$5,000,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options

Application Fee$600
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$0
Discharge Fee$200

Pros

  • $0 monthly fees
  • $0 valuation fees
  • Interest only options

Cons

  • Can only make $5,000 additional repayments during the fixed term
  • $600 establishment fee

Things to consider about the CUA Fixed Rate Home Loan

This secured home loan is available for owner-occupied purchases, for investment purposes and for those looking to buy land and build a home. You can also benefit from one free property valuation with this loan. Your loan will revert to the Standard Variable Home Loan.

Features of the CUA Fixed Rate Home Loan

  • Loan amount. You can borrow any amount between $10,000 and $5,000,000. How much you qualify to borrow depends on factors like your net income, the number of dependents you have and your debts and liabilities.
  • Loan term. Depending on how long you want the fixed rate to stay in place, you can choose from a one, two, three or five-year term. At the end of this period, the loan reverts to the CUA Standard Variable Rate Home Loan.
  • Maximum LVR. The maximum LVR without having to pay lender’s mortgage insurance stands at 80%, and this increases to 95% if you opt to pay for lenders mortgage insurance. This applies to loans with principal and interest repayments.
  • Investor LVR. A 95% maximum LVR applies for all investor lending that is for new CUA customers without accompanying owner-occupied lending. A 95% maximum LVR applies for investors who are existing customers of CUA or CUA Health and new customers who bring both their investment and owner occupied home loans to CUA.
  • Extra repayments. This loan allows you to make $5,000 extra repayments during the fixed term.
  • Interest-only options. You can select interest-only repayments for the length of the fixed term with this loan.
  • Repayments. This home loan offers repayment flexibility, allowing you to make weekly, fortnightly or monthly repayments.

Fees

There is no ongoing account keeping fees with this loan, below are some of the fees you may be charged with this loan:

  • Establishment fee: $600. This fee covers many of the upfront costs associated with this loan.
  • Discharge fee: $200. This fee covers the administrative costs associated with preparing loan discharge documents, and can be avoided by not exiting the loan early.
  • Early payout fee: If you break your fixed rate loan before your fixed term ends you are liable to pay an early payout fee. This fee can range from $0 to many thousands of dollars.
  • Legal fees: These fees vary from one applicant to the next.

How to apply for the CUA Fixed Rate Home Loan

Click on ‘Go to Site’ to start the application process. Alternatively, you can also apply for this CUA Fixed Rate Home Loan over the phone or by visiting a CUA branch. To apply for this loan you have to meet certain eligibility criteria, which includes the following:

  • You should be over 18 years of age
  • You should have a regular source of income
  • You should be a resident of Australia

As part of the application process you have to supply the following information:

  • Details of earnings
  • Records of savings
  • Details of assets, debts and liabilities
  • A copy of the signed sale contract
  • A copy of the receipt you receive upon paying the deposit

If you’re looking for a no-frills fixed rate home loan that doesn’t attract any ongoing monthly or annual fees and offers a competitive interest rate, this loan is worth considering. However, don’t forget to compare it with other options before you make your decision.

CUA Fixed Rate Home Loan Interest Rate History vs RBA Cash Rate Graph

Was this content helpful to you? No  Yes

Related Posts

This page was last modified on 5 August 2016 at 13:12.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

2 Responses to CUA Fixed Rate Home Loan

  1. Default Gravatar
    | September 22, 2014

    hi

    I would like to know what is the time frame for loan application for CUA and when they do open a everyday account is that mean your loan is approved

    • Staff
      Shirley | September 23, 2014

      Hi Sara,

      Thanks for your question.

      Unfortunately every application is different and takes a different amount of time to complete. The whole process usually takes up to a few weeks. I’d recommend that you get in touch with CUA directly for an update on the status of your application.

      All the best,
      Shirley

CUA Fixed Rate Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $600 / $0

  • Max LVR

    80%

Ask a question
feedback