loans.com.au Smart Home Loan
This variable mortgage for home buyers and investors keeps things simple and offers very low rates.
You can add an optional offset account for an additional 0.10% on your interest rate.
Richard Whitten is a senior writer at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea.
This loan has a low variable rate for principal and interest owner-occupier borrowers and a similarly competitive rate of investors. The loan has a maximum LVR of 80%, which means you will need a 20% deposit.
About this loan
What are the features and benefits of the loans.com.au Smart Home Loan?
- Loan amount. The loans.com.au Smart Home Loan has a minimum borrowing amount of just $50,000 and a maximum borrowing amount of $1,000,000.
- Loan purpose. Home buyers and investors can get this mortgage.
- Offset account. You can add an offset account to this loan but your interest rate will increase by 0.10%.
- Repayment flexibility. You can repay this loan monthly, weekly or fortnightly. You can also make unlimited extra repayments.
- Loan-to-value ratio. You can borrow up to 80% of your property's value. There is no low deposit option.
What fees and charges come with this loan?
This mortgage comes with the following fees:
- Settlement fee: $300. This fee covers the costs of funding your home loan.
- Late payment fee: $150. If your payments are overdue, there is a small fee.
- Valuation fee: . This fee covers the lender's cost to get your property valued.
How to apply
If you'd like to apply for this product or just get more information, click the green "Go to site" button and follow the application process to speak to a loans.com.au mortgage specialist. They'll talk you through eligibility requirements and help you with the application.