A low rate home loan for investors who want to pay principal and interest.
The Mortgage House Equity Growth Investor Special is a low rate investment home loan that only allows principal and interest repayments.
|Product Name||Mortgage House Equity Growth Investor Special|
|Interest Rate Type||Variable|
|Interest Rate (p.a.)||3.79%|
|Comp Rate^ (p.a.)||3.82%|
|Minimum Loan Amount||$150,000|
|Maximum Loan Amount||$5,000,000|
|Minimum Loan Term||7 years|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||80%|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest|
|Lender's Legal Fee||$395|
|Valuation Fee||free up to $330|
|Ongoing Fees||$0 p.a.|
- Competitive interest rate
- High borrowing amount
- Redraw and split facilities available
- No interest only option
- There are a few fees
What do I need to know about this loan?
The Mortgage House Equity Growth Investor Special is available to investors only.
What are the features and benefits of the Mortgage House Equity Growth Investor Special?
- Loan amount and purpose. The Mortgage House Equity Growth Investor Special carries a minimum borrowing amount of $150,000 and a maximum borrowing amount of $5,000,000. It has a maximum loan to value ratio of 80%, so you'll need to have saved at least a 20% deposit.
- Flexible repayments. The Mortgage House Equity Growth Investor Special offers weekly, fortnightly or monthly repayments and allows unlimited additional repayments as you like without penalty.
- Principal and interest. While some investors choose to make interest-only repayments, this loan only allows principal and interest repayments. If you're looking to build equity in your investment property, this could be a good choice.
- Free redraw. If you've paid extra on your home loan and need to access the funds, you can do so using the loan's free redraw facility.
- Split facility. The Mortgage House Equity Growth Investor Special allows you to split your loan up to four times, enabling you to take advantage of the features of other Mortgage House products.
What fees and charges come with this loan?
- Legal fee: $395. This fee covers the legal costs associated with establishing your home loan.
- Settlement fee: $250. This fee covers the administrative costs on settlement day.
- Discharge fee: $450. This fee is charged when you close your home loan account either by paying off your mortgage or refinancing.
How do I apply for this loan?
If you've compared your options and think the Mortgage House Equity Growth Investor Special suits your needs, click the link below. You'll be prompted to fill in a few details and a Mortgage House representative will be in touch to walk you through the application process.
Enquire about this home loan