This variable rate loan has a very competitive rate for home buyers and refinancers with a 30% deposit.
Mortgage House's Blue Home Loan Prime (Essentials Special – PAYG) allows for extra repayments, split and redraw facilities. It has one of the market's lowest rates but you will need a larger deposit than average. This makes it a good option for refinancers. It is not available for investment.
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 Name||Mortgage House Blue Home Loan Prime (Essentials Special - PAYG)|
|Interest Rate Type||Variable|
|Interest Rate (p.a.)||2.89%|
|Comp Rate^ (p.a.)||2.93%|
|Minimum Loan Amount||$150,000|
|Maximum Loan Amount||$1,000,000|
|Minimum Loan Term||3 years|
|Maximum Loan Term||40 years|
|Maximum Insured LVR||70%|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Repayment Type||Principal & Interest|
|Application Fee||$600 (refundable)|
|Lender's Legal Fee||$395|
|Valuation Fee||up to $300 free|
|Ongoing Fees||$0 p.a.|
- Low interest rate
- Split and redraw options
- Requires a 30% deposit
- There is a $445 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 70%. You'll need a 30% deposit to qualify for this mortgage.
What are the features and benefits of the Mortgage House Blue Home Loan Prime (Essentials Special – PAYG) home loan?
- Low variable rate. The loan comes with a very competitive interest rate for owner-occupiers.
- Loan amount. You can borrow up to $1,000,000 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 Blue Home Loan Prime (Essentials Special – PAYG) home loan comes with a few fees to be aware of.
- Application fee: $600 (refundable). The application fee is refunded via cashback for refinance customers.
- 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, either by repaying it or refinancing to another lender.
- Settlement fee: $445. 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.