NAB Base Variable Rate Home Loan
Enjoy a basic home loan with low rate and fees.
The NAB Base Variable Rate Home Loan offers a low interest rate with useful features and minimal fees.
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You can borrow up to 95% of the property value. However, lenders mortgage insurance (LMI) applies if you borrow more than 80% of the property value.
About this loan
What are the features and benefits of the NAB Base Variable Rate Home Loan?
- Redraw facility. You can redraw on your home loan for free if you're ahead of your scheduled repayments. The minimum redraw amount is $500.
- Maximum loan size. You can borrow up to 95% of the property's value, which can help those who are unable to save for a large deposit. If you're an investor or opting for interest only payments, the maximum limit is 90%.
- Loan portability. If you sell the home before paying out the loan, you can buy a new home and still maintain the same home loan. This saves you the cost and hassle of setting up a new home loan.
- Flexible repayment options. Repayments can be made weekly, monthly or fortnightly to suit how often you get paid, and you can make extra repayments without penalty.
What fees and charges come with this loan?
- Application fee: $0. This is the fee used to cover the costs of setting up your loan account.
- Discharge fee: $350. This fee is payable when you pay out your loan.
- Service fee: $0. There is a monthly fee for owner-occupiers on interest-only payments and for investors on either principal and interest or interest-only payments.
How to apply
If you believe the NAB Base Variable Rate Home Loan could be right for you click on the green 'Enquire now' or 'Go to site' button. This will redirect you to the NAB website or to a mortgage broker page where you can discuss your borrowing needs.
On the NAB website you can enquire about this loan or use the live chat feature to talk to someone directly. You could also arrange an appointment with a NAB home loan specialist and they'll visit you or you can drop into your local branch.
After you've lodged your home loan application, NAB will contact you to discuss your application. You'll need to provide a number of original and certified copies of documents, such as:
- Personal ID. You'll need to provide your birth certificate, passport, driver's license and a current photo ID card.
- Income details. To support your application, you'll need to offer evidence of your income, such as your two most recent payslips and your latest tax return (for PAYG employees). If you're self-employed, you'll need to put forward your two most recent financial statements.
- Property details. NAB will request a fully-executed contract of sale (signed and dated by both the vendor and purchaser), the transfer of land document (if held) and the construction loan.
- Asset and liability details. You'll need to supply your most recent non-NAB transaction account statements, credit card statements, details of personal/home/vehicle insurance, superannuation details, and current vehicle registrations.
Home Loan OffersImportant Information*
Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.
Up to $4,000 refinance cashback. With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get up $4,000 cashback and borrow up to 90% of the property's value. (Terms, conditions & exclusions apply).
A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.