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Mortgage House Advantage Home Loan (Special – PAYG)

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.

Refinance cashback offer

For a limited time, Mortgage House will provide a cashback for refinancers switching to this loan. If you're on the first year of your loan you'll get the $600 application fee refunded. If you've had your loan for one to five years you'll get the $600 application fee plus $600. If you've had the loan more than five years you'll get the $600 fee plus $900 cashback. Other conditions may apply.

Product NameMortgage House Advantage Home loan (Special - PAYG)
Interest Rate TypeVariable
Interest Rate (p.a.)3.19%
Comp Rate^ (p.a.)3.22%
Minimum Loan Amount$150,000
Maximum Loan Amount$5,000,000
Minimum Loan Term3 years
Maximum Loan Term40 years
Maximum LVR80%
Maximum Insured LVR90%
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Extra RepaymentYes
Repayment TypePrincipal & Interest
Application Fee$600
Lender's Legal Fee$395
Valuation Feeup to $300 free
Ongoing Fees$0 p.a.
Settlement Fee$250
Discharge Fee$500


  • Low interest rate
  • Available with low deposit


  • There is a $395 legal fee
  • There is a $250 settlement fee

What do I need to know about this loan?

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.

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 do I apply for this loan?

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.

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Mortgage House Advantage Home loan (Special - PAYG)

  • Interest Rate

    3.19% p.a.

  • Comparison Rate

    3.22% p.a.

  • App Fee / Annual Service Fee

    $600 / $0

  • Max LVR


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