The Variable SMSF home loan from Freedom Lend lets you purchase an investment property through your self managed super fund. It comes with a 100% offset account.
Freedom Lend's Variable SMSF home loan is only available for property investment (like all SMSF home loans). Borrowers can choose between principal and interest or interest-only repayments and borrow up to 75% of their property's value.
|Product Name||Freedom Lend Variable SMSF|
|Interest Rate Type||Variable|
|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||75%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||No|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$1,300|
|Ongoing Fees||$395 p.a.|
- Interest-only options available
- 100% offset account attached
- The loan comes with multiple fees
- Only available for investors
What do I need to know about this loan?
This Freedom Lend Variable SMSF Home Loan is a flexible SMSF home loan with multiple rates depending on your deposit size and repayment type. A 100% offset account gives it added flexibility. You can use the loan to purchase an investment property or refinance an existing SMSF loan.
What are the features and benefits of the Freedom Lend Variable SMSF home loan?
- Loan amount. This loan lets you borrow up to $1,000,000.
- Purpose. This mortgage is for property investors.
- Repayment flexibility. You can make monthly, weekly or fortnightly repayments and unlimited extra repayments.
- Offset account. A 100% offset account lets you reduce your interest charges when you put extra savings into the account.
- Split and redraw. This loan has split and redraw facilities.
What fees and charges come with this loan?
The Freedom Lend Variable SMSF home loan has several fees to be aware of. Make sure to factor in these fees when considering this mortgage.
- Application fee: $1,645. You pay this fee when applying for the loan.
- Discharge fee: $535. You pay the discharge fee when you end the home loan.
- Legal fee: $1,300. This fee covers your legal costs.
- Valuation fee: $303. This fee covers the cost of having your property professionally valued.
- Service fee: $395. This fee is charged annually.
- Switching fee: $303. You only pay this fee if switching from one Freedom Lend mortgage to another.
How do I apply for this loan?
To apply for this product or to get more information, click the green "Go to site" button and leave your details on Freedom Lend's website. Then a Freedom Lend mortgage specialist will get in touch and you can start your application.