If you want a very low and flexible home loan, the Mortgage House Home Loan Prime – Early Bird Rate Cut Special could be for you.
Mortgage House's Home Loan Prime – Early Bird Rate Cut Special has one of the lower rates on the market, requires a 20% deposit and is only available for homebuyers (new or refinancing from other lenders.
|Product Name||Mortgage House Home Loan Prime - Early Bird Rate Cut Special|
|Interest Rate Type||Variable|
|Interest Rate (p.a.)||3.29%|
|Comp Rate^ (p.a.)||3.34%|
|Minimum Loan Amount||$150,000|
|Maximum Loan Amount||$150,000,000|
|Maximum Insured LVR||80%|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Repayment Type||Principal & Interest|
|Application Fee||$600 (refundable for refinancers)|
|Lender's Legal Fee||$395|
|Valuation Fee||Up to $300 free|
|Ongoing Fees||$0 p.a.|
- Low variable rate
- Flexible repayment options
- Cashback for refinancers
- Requires a 20% deposit
- There is a $395 legal fee
- 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 80%, meaning it requires a 20% deposit.
Mortgage House says this rate will stay low whether the RBA lowers the cash rate or not, effectively allowing you to get a lower rate sooner rather than later.
What are the features and benefits of the Mortgage House Home Loan Prime – Early Bird Rate Cut Special?
- Competitive rate. The loan comes with a very low rate.
- Loan amount. You can borrow up to $150,000,000 with this loan.
- Purpose. This product is only for owner-occupiers buying a home to live in.
- Repayment flexibility. You can repay this loan monthly, weekly or fortnightly. You can also make extra repayments.
- Deposit size. You can borrow up to 80% of your property's value.
- Refinance cashback. If you're refinancing from another lender you can get cashback depending on how long you've held the loan. Mortgage House will give you at least the $600 back from your application fee, plus up to $600 if you've held your loan for 1–5 years, or $900 if it's more than 5 years.
What fees and charges come with this loan?
The Mortgage House Home Loan Prime – Early Bird Rate Cut Special only has a few fees to worry about. There are no application or settlement fees.
- Application fee: $600 (refundable for refinancers). This fee is refunded if you refinance from another lender.
- Legal fee: $395. This fee covers the lender's legal costs.
- Settlement fee: $445. This fee covers settlement costs.
- Discharge fee: $500. The discharge fee applies when you end the home loan, either by repaying it or refinancing to another lender.
- Valuation fee: Up to $300 free. Mortgage House will cover up to $300 of the cost of getting your property valued.
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. A Mortgage House lending specialist will get in touch and talk you through eligibility requirements, answer any questions you have and help you with the application.