Compare the home loan offers available from QT Mutual Bank
QT Mutual Bank started life in the mid-1960s as the Queensland Teachers’ Credit Union. It has a proud history of service, reliability and innovation and successfully became a mutual bank in 2011.
Home Loan Offer
With the QT Mutual Bank Mortgage Saver Home Loan enjoy a home loan with no application or ongoing fees as well as a competitive low interest rate.
- Interest rate of 3.95% p.a.
- Comparison rate of 3.95% p.a.
- Application fee of $0
- Maximum LVR: 95%
- Minimum borrowing: $20,000
Compare QT Mutual Bank home loans
Who is QT Mutual Bank? / What does QT Mutual Bank do?
QT Mutual Bank aims to offer outstanding service, competitive rates and innovative banking solutions to its customers. It provides fairer fees, competitive rates and flexible products designed to suit a wide range of needs.
In terms of home loans, the bank offers tailored solutions that fit the needs of homeowners at different stages of their lives. The Smart Starter Home Loan Package, for example, is designed especially for first-home buyers. Read on below to find out more about QT Mutual Bank home loans.
Home loans offered by QT Mutual Bank
Smart starter home loan package
Buying your first home is exciting, but finding the right loan can seem like a daunting task. The Smart Starter Home Loan Package is designed with first-time home owners in mind. This special package is available to members who are eligible for the First Home Owners Grant from the government and comes with the following features:
- Repayment pause. You can enjoy six months of half-repayments or a three-month repayment break with this package.
- Family Support Option. QT Mutual Bank understands that many new homeowners need the assistance of family members, especially their parents, to secure the loan. With this in mind, the Family Support Option allows your parents to guarantee the loan up to their nominated amount.
- Smart Starter Car Loan. You can get access to a full-featured car loan under the Smart Starter Home Loan Package.
- Smart Starter Overdraft. Enjoy the benefits of having a line of credit and transaction account in one package.
- Financial planning. If you want expert advice regarding your financial options and security, this package comes with complimentary risk assessment.
The Mortgage Breaker is a standard variable loan that features a full offset facility. This can effectively lower the amount of interest you need to pay as well as shorten the loan term. Link your home loan to a current account to take advantage of this facility.
Fixed rate home loan
If you like the predictability of knowing what your monthly repayments will be, the Fixed Rate Home Loan might be a good choice. You have the option to set the rate for up to three years.
Home equity loan
This loan gives you access to the equity in your home and there are no restrictions on what you can do with the funds. You can buy a car, complete some upgrades on your property or put the money into an investment property. The loan has a variable interest rate that is lower than the rate on a personal loan or credit card.
Home equity overdraft
The easiest way to pay for an overseas holiday, buy a new car or fund significant home renovations is to get a Home Equity Overdraft. You have the choice of either extending your current QT Mutual Bank home loan or taking out a separate loan. The main benefit of the home equity overdraft is that the loan you take out will have a much lower interest rate than a personal loan or credit card.
Pros and cons of QT Mutual Bank home loans
- Tailored solutions. The bank offers home loan solutions that are suitable for homeowners who are at different stages of their lives.
- Competitive interest rates. QT Mutual Bank aims to offer competitive interest rates. Compare its rates with the leading banks and you will see the difference.
- Fixed Term Loan up to three years only. Many banks and credit unions offer fixed term home loans of up to five years, while QT Mutual Bank only lets you fix the rate for up to three years.
How to apply for a QT Mutual Bank home loan
QT Mutual Bank makes the loan application process as easy as possible. If you are ready to take the next step, there are three ways for you to get in touch with the bank:
- Fast loan inquiry. Complete the online inquiry form and a representative will get back to you.
- Branch. If you prefer to talk to a loan specialist face to face, you can visit a bank branch or schedule an appointment ahead of time. Make sure to download the loan application form and fill it out.
- Email. You can submit an email application.
- Phone. Call QTMB if you have any questions regarding your loan application.
Documents needed to apply for a QT Mutual Bank home loan
- You’ll need to supply your contact details and identification evidence.
- The value of the property you wish to purchase
- Your deposit size
- The name of the agent/vendor and the name of solicitor
- Information regarding your income, including evidence such as payslips.
- Information about your assets and other investments or property you own
- Information regarding your debts and liabilities.
QT Mutual Bank has a large range of loans which can cater to many different borrowers. Consider one of their loans in your next comparison.