This product is no longer on the market
This product is no longer available. Information on this page is not up to date and may not reflect accurate product information. You can find CUA's current mortgage offers here.
Things to consider about the CUA Rate Breaker Package Home Loan.
This secured home loan is available for owner-occupied purchases and for those looking to buy land and build a home. You can benefit from one free property valuation with this package.
If you take out more than one home loan under the Rate Breaker Package, you can get the discounted interest rate for each Rate Breaker Package Home Loan and only pay one annual fee. You can also split your loan across multiple CUA products under the one package – for example you might take a variable Rate Breaker Home Loan for part of your loan amount, and fix the other portion.
Features of the CUA Rate Breaker Package Home Loan
- Loan amount. To secure this package you will need to borrow at least $250,000 although the total value can be spread across a number of loan types. The minimum you can borrow for individual loans under the Package is $250,000.
- Maximum LVR. If you take out Lender’s Mortgage Insurance (LMI), the maximum LVR for this loan stands at 95%. If you do not wish to pay LMI you can borrow up to 80% of the property value.
- Multi-Account Offset. Save on interest with a free 100% Multi-Account Offset facility simply by using an eligible CUA offset account for your everyday banking. You must maintain a minimum balance of $500 in each offset account to obtain the benefit of the offset from that account. No credit interest will accrue to your offset account.
- Redraw. A free redraw facility allows you to access any additional payments you've made on your home loan, which you can access at any time online.
- Credit card. As part of this home loan, you can get a CUA Platinum MasterCard with no annual fee. This credit card offers reward points for every eligible dollar you spend.
- Health insurance. You will receive one month free on your premium for each year you hold any CUA Health policy.
- Establishment fee: $0.
- Ongoing annual package fee: $350.
- Discharge fee: $500. CUA charges this to prepare all loan-discharge-related documents.
- Security administration fee: $195. A one-fee covers the cost of setting up your property as security for the loan.
How to apply for the CUA Rate Breaker Package Home Loan
Click on ‘Go to Site’ to start the application process.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 be an Australian resident
- You should have a regular source of income
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
While this home loan comes with an ongoing annual fee, it also comes packed with features that can lead to considerable savings. Before you apply, make sure you compare it with other similar products to ensure you’re getting the best deal.