You can lock in a low rate and get a home loan without genuine savings.
Saving a deposit is often the biggest hurdle for home buyers. The Online Home Loans Flexi Choice Prime Fixed loan allows you to fix your rate and get a home loan using a gifted deposit or first home owners grant.
|Product Name||Online Home Loans Flexi Choice Prime Fixed Rate|
|Interest Rate Type||Fixed|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$50,000|
|Maximum Loan Amount||$2,000,000|
|Minimum Loan Term||15 years|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||95%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Repayment Type||Principal & Interest and Interest Only Options|
|Valuation Fee||approximately $330|
|Ongoing Fees||$0 p.a.|
|Early Termination Fee||$608|
- 100% offset account
- No ongoing fee
- There is a $345 application fee
What do I need to know about this loan?
The Online Home Loans Flexi Choice Prime Fixed loan is available to owner-occupiers and investors who are purchasing a property, but it is not available for construction.
What are the features and benefits of the Online Home Loans Flexi Choice Prime Fixed loan?
- Loan amount. The Online Home Loans Flexi Choice Prime Fixed loan has a minimum borrowing amount of $50,000 and a maximum borrowing amount of $2,000,000. It offers a high maximum loan-to-value ratio of 95%. However, borrowing more than 80% will incur a lenders mortgage insurance premium.
- No genuine savings option. Most home loans require at least 5% genuine savings. However, the Online Home Loans Flexi Choice Prime Fixed loan will allow you to use a first home owners grant or gifted deposit without showing proof of genuine savings.
- Package discounts. The fixed-rate option for the Online Home Loans Flexi Choice Prime loan is only available under the Pro Pack. This package home loan offers a rate discount.
What fees and charges come with this loan?
- Application fee: $345. This fee only applies to the Pro Pack option for this loan.
How do I apply for this loan?
If you've compared home loans and believe the Online Home Loans Flexi Choice Prime Fixed loan is the right option for you, click the green button. You'll be asked to fill out a brief form, and will be contacted by an Online Home Loans representative who will walk you through the application process.