Mortgage House Advantage Home Loan (PAYG Essentials) Owner Occupied

A low-rate variable home loan for PAYG employees that comes with a 100% offset account.

The Mortgage House Advantage Home Loan (PAYG Essentials) Owner Occupied is a low-rate home loan for owner-occupier borrowers that comes with a 100% offset account.

Interest Rate Max Insured LVR Max LVR
70 (PAYG Essentials)
2.79% p.a.
Comparison Rate
2.83% p.a.
70% 70%
80 (PAYG Essentials)
2.89% p.a.
Comparison Rate
2.93% p.a.
80% 80%
Product NameMortgage House Advantage Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum LVR70%
Maximum Insured LVR80%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Suitable for InvestmentNo
Repayment TypePrincipal & Interest
Application Fee$600
Valuation Feeup to $300 free
Ongoing Fees$10 monthly ($120 p.a.)
Settlement Fee$250
Discharge Fee$450

Pros

  • 100% offset account
  • Competitive variable rate

Cons

  • The lowest rate requires a 30% deposit
  • There is a $10 monthly fee
  • There is a $250 settlement fee

What do I need to know about this loan?

The Mortgage House Advantage Home Loan (PAYG Essentials) Owner Occupied is available to PAYG employees who are buying a home to live in. The loan is not available to self-employed borrowers or investors.

What are the features and benefits of the Mortgage House Advantage Home Loan (PAYG Essentials) Owner Occupied?

  • Loan amount and purpose. The Mortgage House Advantage Home Loan (PAYG Essentials) Owner Occupied is only available to PAYG employees who are owner-occupier borrowers. There's a minimum loan amount of $150,000 and no maximum loan amount.
  • Loan-to-value ratio. The Mortgage House Advantage Home Loan (PAYG Essentials) Owner Occupied has a maximum LVR of 80% but if you save a 30% deposit you can get a lower interest rate.
  • Repayment frequency. The Mortgage House Advantage Home Loan (PAYG Essentials) Owner Occupied allows weekly, fortnightly or monthly repayments to suit your pay cycle. It allows unlimited additional repayments without penalty.
  • Offset account. This product comes with a 100% offset account, allowing you to use keep extra money in the home loan to minimise interest costs.
  • Redraw facility. You can access any additional repayments you've made via the loan's redraw facility.

What fees and charges come with this loan?

  • Valuation fee up to $300 free. This covers the cost of a property valuation, but is free if the valuation costs $300 or less.
  • Monthly fee. $10. This is charged monthly to cover account keeping costs.
  • Settlement fee. $250. This one-off fee covers the administrative costs of funding your home loan.
  • Discharge fee. $450. This fee is charged when you close your home-loan account.

How do I apply for this loan?

If you've compared your options and believe the Mortgage House Advantage Home Loan (PAYG Essentials) Owner Occupied could be the mortgage product for you, click the link below to be redirected to the Mortgage House website. There you'll be walked through the application process.

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Mortgage House Advantage Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $600 / $10

  • Max LVR

    70%

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