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The Hume Bank Fixed - 2 Year Rate home loan is a low fixed rate loan for owner-occupiers with 30% deposits.
The Fixed Home Loan - 2 Year Rate from Hume Bank is a fixed rate loan with principal-and-interest repayments. It's only available for home buyers and requires a large deposit of at least 30% of your property's value.
| Product Name | Hume Bank Fixed Home Loan - 2 Year <70% LVR (Owner Occupier, P&I) |
|---|---|
| Interest Rate Type | Fixed |
| Interest Rate (p.a.) | 2.04% |
| Comp Rate^ (p.a.) | 4.02% |
| Minimum Loan Term | 2 years |
| Maximum Loan Term | 30 years |
| Maximum LVR | 70% |
| Maximum Insured LVR | 70% |
| Loan Redraw Facility | Yes |
| Split Loan Facility | Yes |
| Suitable for Investment | No |
| Extra Repayment | Yes |
| Repayment Type | Principal & Interest |
| Application Fee | $600 |
|---|---|
| Ongoing Fees | $0 p.a. |
| Discharge Fee | $350 |
Pros
- Low rate
- Minimal fees
- Extra repayments
Cons
- Requires a big deposit
- There is a $600 application fee
What do I need to know about this loan?
The loan has a maximum insured LVR of 70%, meaning you will need a 30% deposit. This makes it a good option for borrowers looking to refinance to a lower rate.
What are the features and benefits of the Hume Bank Fixed Home Loan - 2 Year Rate?
- Purpose. This product is available for owner-occupiers but not investors.
- Deposit size. You can borrow up to 70% of your property's value. In other words you will need at least a 30% deposit.
- Other features. The loan has a redraw facility and you're able to split the loan. You can make extra repayments but there's no offset account.
What fees and charges come with this loan?
The Hume Bank Fixed - 2 Year Rate has very minimal fees.
- Application fee: $600. This fee is charged once, upon application.
- Discharge fee: $350. You pay this fee when exiting the loan.
How do I apply for this loan?
To apply for this product or to get more information, click the green button and follow the application process to speak to a mortgage specialist from Hume Bank. They'll talk you through eligibility requirements and assist you with the application.
