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Mortgage House Advantage Home Loan (Special – PAYG)

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This loan has a low variable interest rate for home buyers.

Mortgage House's Advantage Home Loan (Special – PAYG) has a low variable rate for PAYG borrowers buying a home. It allows for extra repayments, split and redraw facilities. This loan is an option for borrowers with low deposits.

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Expert review

Richard Whitten

Review by


Richard Whitten is a senior writer at Finder covering home loans and property. He helps everyone understand the ins and outs of mortgages so they can make smarter property decisions. He has written for Yahoo Finance, Money Magazine, Homely, and for multiple banks and lenders. 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. Richard has a Bachelor of Education, a Graduate Certificate in Communication and is currently studying a Certificate IV in Finance and Mortgage Broking.

Expert review

This loan has a principal and interest variable rate and a maximum insured LVR of 90%. You can get this loan with a 10% deposit but you will need to pay lenders mortgage insurance.

About this loan

What are the features and benefits of the Mortgage House Advantage Home Loan (Special – PAYG)?

  • Low variable rate. The loan comes with a very competitive interest rate for owner-occupiers.
  • PAYG borrowers. This product is available for PAYG borrowers, meaning employees with full-time income. Self-employed borrowers are not eligible for this loan.
  • Loan amount. You can borrow up to $5,000,000 with this loan.
  • Purpose. This product is available for owner-occupiers only.
  • Repayment types. This loan has principal and interest repayments only.
  • Repayment flexibility. This loan allows for extra repayments.

What fees and charges come with this loan?

The Mortgage House Advantage Home Loan (Special – PAYG) mortgage comes with a few fees, but some may not apply to all borrowers.

  • Application fee: $600. If you're refinancing then this application fee is refunded via cashback.
  • Legal fee: $395. This fee covers the legal costs of finalising your mortgage.
  • Discharge fee: $500. You pay a discharge fee when you end the home loan.
  • Settlement fee: $250. This fee is charged at settlement.
  • Valuation fee: up to $300 free. Valuations are free up to $300. If the valuation cost exceeds $300 you will have to pay the difference.

How to apply

To apply for this product or to get more information, click the green "Enquire now" button and leave your details in the form provided. Then a Mortgage House lending specialist will get in touch and talk you through eligibility requirements and help you with your application.

Home Loan Offers

Important Information*
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Westpac Flexi First Option Home Loan - Basic Variable Rate (Owner Occupier, P&I)

Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

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St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback. With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get up $4,000 cashback and borrow up to 90% of the property's value. (Terms, conditions & exclusions apply).

Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I

A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.

Logo for UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupiers, Variable P&I Rate

Take advantage of a low-fee mortgage with a special interest rate of just 2.34% p.a. and a 2.34% p.a. comparison rate.

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