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.

Cashback offer for refinancers

For a limited time, if you refinance an eligible Hume Bank owner occupied home loan you can receive a $2,000 cashback. Your loan needs to be at least $200,000 in size. This offer is available until 31 October 2019.

Interest Rate Max Insured LVR Max LVR
(Investor, IO)
4.14% p.a.
Comparison Rate
4.14% p.a.
80% 80%
(Investor, P&I)
3.79% p.a.
Comparison Rate
3.79% p.a.
85% 80%
(Owner Occupier, P&I)
3.39% p.a.
Comparison Rate
3.39% p.a.
95% 80%
Product NameHume Bank Flexi Low Rate Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$50,000
Maximum Loan Amount$999,999,999
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Repayment TypePrincipal & Interest
Application Fee$0
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$150
Discharge FeeUp to $200

Pros

  • No monthly fee
  • No valuation fee
  • Free online redraw

Cons

  • $0 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.

Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

Hume Bank Flexi Low Rate Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR

    80%

Ask a question
Go to site