Mortgage House Blue Home Loan Prime (Essentials Special – PAYG) home loan

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 NameMortgage House Blue Home Loan Prime (Essentials Special - PAYG)
Interest Rate TypeVariable
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 Term3 years
Maximum Loan Term40 years
Maximum LVR70%
Maximum Insured LVR70%
Loan Redraw FacilityYes
Split Loan FacilityYes
Extra RepaymentYes
Repayment TypePrincipal & Interest
Application Fee$600 (refundable)
Lender's Legal Fee$395
Valuation Feeup to $300 free
Ongoing Fees$0 p.a.
Settlement Fee$445
Discharge Fee$500

Pros

  • Low interest rate
  • Split and redraw options

Cons

  • 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.

Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

Mortgage House Blue Home Loan Prime (Essentials Special - PAYG)

  • Interest Rate

    2.89% p.a.

  • Comparison Rate

    2.93% p.a.

  • App Fee / Annual Service Fee

    $600 (refundable) / $0

  • Max LVR

    70%

Ask a question
Go to site