Hume Bank Flexi Low Rate Home Loan

A low-rate home loan with no frills and some flexible features.

The Hume Bank Flexi Low Rate Home Loan is a basic, low-rate home loan without some of the features that often carry ongoing fees. However, the loan does offer some flexible features to help you manage your mortgage.

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Review by

Adam Smith was the home loans editor at Finder.

Expert review

The Hume Bank Flexi Low Rate Home Loan is available to owner-occupiers or investors. It has low deposit options and a fee waiver for refinancers.

About this loan

What are the features and benefits of the Hume Bank Flexi Low Rate Home Loan?

  • Loan amount and purpose. The Hume Bank Flexi Low Rate Home Loan has a minimum borrowing amount of $50,000 and no maximum borrowing amount. It's available to owner-occupiers and investors.
  • Free redraw. If you make extra repayments, you can access them using the loan's free redraw facility. There's a low minimum redraw amount of $50.
  • Repayment flexibility. This loan allows weekly, fortnightly or monthly repayments, and you can make as many extra repayments as you like without penalty.
  • Loan-to-value ratio. The Hume Bank Flexi Low Rate Home Loan has a high maximum loan-to-value ratio of 95% LVR. However, borrowing more than 80% will incur a lenders mortgage insurance (LMI) premium.

What fees and charges come with this loan?

  • Settlement fee: $150. This fee covers the administrative costs of settling your home loan.
  • Discharge fee: . This fee is charged when you close your home loan account.

How to apply

If you've compared your options and think the Hume Bank Flexi Low Rate Home Loan could be right for you, click the link below. You'll be taken to Hume Bank's website where you can complete the application process.

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