No application fees and a low variable rate can help you save money on your home loan.
If you’re looking for a low rate home loan that still offers plenty of features, the Mortgage House Advantage Home Loan Jumbo 80 may be worth considering. This variable rate home loan has no application fees, a competitive variable rate and it offers features such as a redraw facility and a 100% offset account.
Factors to consider before taking out the Mortgage House Advantage Investment Home Loan Jumbo 80
This loan is available to investors looking to buy an established property. It is not available for construction or vacant land purchases. The maximum loan-to-value ratio (LVR) for the Mortgage House Advantage Home Loan Jumbo 80 is 80%, so you’ll need to have saved at least a 20% deposit. The loan also carries a $10 monthly fee.
Features of the Mortgage House Advantage Investment Home Loan Jumbo 80
- Loan amount and term. You can borrow a minimum of $750,000 with this loan for a maximum of 30 years. There is no maximum borrowing amount.
- Loan-to-value ratio (LVR). You can borrow up to 80% LVR with this home loan.
- Loan purpose. You can use this loan to purchase an existing property, refinance your current home loan or consolidate debt.
- Additional repayments and redraw facility. You can make unlimited additional repayments with this loan and then redraw them with the available redraw facility.
- 100% offset account. This allows you to offset the interest you pay by the amount of funds in your account.
- Split facility. You can split your home loan into fixed rate and variable rate portions.
Fees payable with the Mortgage House Advantage Investment Home Loan Jumbo 80
Below are some of the fees you may be charged:
- Monthly fee: $10. This is an ongoing administrative fee.
- Settlement fee: $200. This fee is charged at settlement and helps cover the costs associated with settling your home loan.
- Discharge fee: $450. This fee is charged when you discharge your home loan.
How to apply for the Mortgage House Advantage Investment Home Loan Jumbo 80
If the Mortgage House Advantage Home Loan Jumbo 80 sounds like it might be right for you, you can apply online or contact Mortgage House directly to discuss the loan further.
Before you apply, ensure you have the following information handy:
- Personal details. This includes the full names, addresses, contact numbers, dates of birth and personal identification of each person applying for the home loan.
- Loan and property details. This includes how much you wish to borrow, the way you want to structure your loan and the details of the property you are looking to purchase.
- Financial details. This includes details of your income from your employment and any other income streams, your savings and information about your monthly living expenses.
- Financial liabilities. You will need to supply information about any and all other loans, credit cards and debt-related products that are attached to your name or any of the applicants’ names.
The Mortgage House Advantage Home Loan Jumbo 80 has a low rate and no application fees, so if you’re after an inexpensive home loan with some helpful features included, it’s worth adding it to your comparison.