Mortgage House Home Loan Prime – Early Bird Rate Cut Special

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 NameMortgage House Home Loan Prime - Early Bird Rate Cut Special
Interest Rate TypeVariable
Interest Rate (p.a.)3.29%
Comp Rate^ (p.a.)3.34%
Minimum Loan Amount$150,000
Maximum Loan Amount$150,000,000
Maximum LVR80%
Maximum Insured LVR80%
Loan Redraw FacilityYes
Split Loan FacilityYes
Loan PortableYes
Extra RepaymentYes
Repayment TypePrincipal & Interest
Application Fee$600 (refundable for refinancers)
Lender's Legal Fee$395
Valuation FeeUp to $300 free
Ongoing Fees$0 p.a.
Settlement Fee$445
Discharge Fee$500

Pros

  • Low variable rate
  • Flexible repayment options
  • Cashback for refinancers

Cons

  • 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.

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Mortgage House Home Loan Prime - Early Bird Rate Cut Special

  • Interest Rate

    3.29% p.a.

  • Comparison Rate

    3.34% p.a.

  • App Fee / Annual Service Fee

    $600 (refundable for refinancers) / $0

  • Max LVR

    80%

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