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.
Special refinance offer
If you're switching to the Refinance (Owner Occupier, P&I) Flexi Low Rate from another lender Hume Bank will waive or cover up to $1,500 of your loan setup costs, including the $600 application fee and $150 settlement fee. Your borrowing amount needs to be over $100,000.
| Product Name | Hume Bank Flexi Low Rate Home Loan |
|---|---|
| Interest Rate Type | Variable |
| Comp Rate^ (p.a.) | |
| Minimum Loan Amount | $50,000 |
| Maximum Loan Amount | $999,999,999 |
| Maximum Loan Term | 30 years |
| Maximum LVR | 80% |
| Maximum Insured LVR | 95% |
| Mortgage Offset Account | No |
| Mortgage 100% Offset | No |
| Loan Redraw Facility | Yes |
| Split Loan Facility | Yes |
| Fixed Interest Option | Yes |
| Loan Portable | Yes |
| Suitable for Investment | Yes |
| Extra Repayment | Yes |
| Repayment Type | Principal & Interest |
| Application Fee | $600 |
|---|---|
| Lender's Legal Fee | $0 |
| Valuation Fee | $0 |
| Ongoing Fees | $0 p.a. |
| Settlement Fee | $150 |
| Discharge Fee | Up to $200 |
Pros
- No monthly fee
- No valuation fee
- Free online redraw
Cons
- $600 fee (waived for refinancers)
- $150 settlement fee ($0 for refinancers)
What do I need to know about this loan?
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.
What are the feature 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: Up to $200. This fee is charged when you close your home loan account.
How do I apply for this loan?
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.
