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The Smart Booster Discount Home Loan from loans.com.au is a variable rate home loan offering a discounted interest rate that's one of the lowest in the market.
The loans.com.au Smart Booster Discount Variable Home Loan offers homebuyers a very low discounted rate for the first one to two years. After the introductory discount the rate reverts to a higher (though still competitive) variable rate. It's also a low-fee loan with basic features and requires a 20% deposit.
You can add an optional offset account for an additional 0.10% on your interest rate.
|Product Name||loans.com.au Smart Booster Discount Variable Home Loan|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$50,000|
|Maximum Loan Amount||$1,000,000|
|Minimum Loan Term||15 years|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||80%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||No|
|Repayment Type||Principal & Interest|
|Lender's Legal Fee||$0|
|Valuation Fee||$220 or at cost|
|Ongoing Fees||$0 p.a.|
- Competitive rates
- Flexible repayments
- Low fees
- Requires a 20% deposit
- There is a $300 settlement fee
What do I need to know about this loan?
The loans.com.au Smart Booster Discount Variable Home Loan is only for owner-occupiers and has principal-and-interest repayments. The product offers discounted variable introductory rates. After the initial discount period this reverts to a higher rate.
The loan requires a 20% deposit. While it doesn't have an offset account it has a redraw facility and flexible repayment options.
What are the features and benefits of the loans.com.au Smart Booster Discount Variable Home Loan?
- Revert rates. After the initial discount rate period ends the loan reverts to a higher rate. The 1 year discount rate reverts to a rate of 2.48% and the 2 year discount rate reverts to 2.79%.
- Loan amount. The loans.com.au Smart Booster Discount Variable Home Loan has a minimum loan amount of $50,000 and a maximum loan amount of $1,000,000.
- Offset account. You can add an offset account to this loan but your interest rate will increase by 0.10%.
- Loan to value ratio (minimum deposit). The maximum insured loan to value ratio is 80%. This means you'll need a 20% deposit to get this loan.
- Extra repayments. This loan allows you to make extra repayments and has a redraw facility, which means you can withdraw some of your extra repayments to spend if needed.
- Other options. This loan is portable and has a loan split facility, allowing you to divide the loan into fixed and variable portions.
What fees and charges come with this loan?
This loan has few fees, with only one-off settlement and valuation fees.
- Settlement fee: $300. This one-off fee covers the cost of loan settlement.
- Valuation fee: $220 or at cost. This fee covers the lender's cost to have your property valued prior to settlement.
How do I apply for this loan?
If you want to apply for the loans.com.au Smart Booster Discount Variable Home Loan or get more information, simply click the green button and leave your details. A lending specialist from loans.com.au will get in touch with you and help you take the next step.