Hume Bank Standard Variable Home Loan

This loan comes with competitive discount rates for owner-occupiers and investors.

Hume Bank's Standard Variable Home Loan offers discounted rates and is available with a 5% deposit. It allows for flexible repayments and online redraw.

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)
5.55% p.a.
Comparison Rate
5.39% p.a.
80% 80%
(Investor, P&I)
5.2% p.a.
Comparison Rate
5.24% p.a.
95% 80%
(Owner Occupier, IO)
5.05% p.a.
Comparison Rate
4.83% p.a.
80% 80%
(Owner Occupier, P&I)
4.6% p.a.
Comparison Rate
4.64% p.a.
95% 80%
Product NameHume Bank Standard Variable Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Maximum Loan Amount$6,000,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$600
Ongoing Fees$0 p.a.

Pros

  • Competitive discounted rates
  • Borrow up to 95%
  • Low fees

Cons

  • No discounts for interest only rates
  • There is a $600 application fee

What do I need to know about this loan?

This loan has a principal-and-interest variable rate and a maximum insured LVR of 95%. This means you can get the loan with a 5% deposit but you will need to pay lenders mortgage insurance.

What are the features and benefits of the Hume Bank Standard Variable Home Loan?

  • Competitive rate. The loan comes with some competitive, discounted rates.
  • Loan amount. You can borrow up to $6,000,000 with this loan.
  • Purpose. This product is for owner-occupiers buying a home to live in or for investors. The rates for investors are higher.
  • Repayment flexibility. You can repay this loan monthly, weekly or fortnightly. You can make extra repayments too.
  • Redraw. This loan has a free online redraw facility, so you can access extra repayments. Redrawing from a branch is free once a month and then $25 per redraw after that.
  • Deposit size. You can borrow up to 95% of your property's value.

What fees and charges come with this loan?

The Hume Bank Standard Variable Home Loan has no ongoing or settlement fees, but there is an application fee.

  • Application fee: $600. This fee covers the cost of processing your application.
  • Switching fee: $300. This fee applies when switching from one Hume Bank mortgage to another.

How do I apply for this loan?

To apply for this product or to get more information, click the green "Go to site" button and leave your details on the Hume Bank website. A Hume Bank lending specialist will get in touch and talk you through eligibility requirements and help you with your application.

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Hume Bank Standard Variable Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $600 / $0

  • Max LVR

    80%

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