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.
|Product Name||Hume Bank Standard Variable Home Loan|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Maximum Loan Amount||$6,000,000|
|Minimum Loan Term||1 year|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Ongoing Fees||$0 p.a.|
- Competitive discounted rates
- Borrow up to 95%
- Low fees
- 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.