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The Reduce Home Loans Home Owners Dream Home Loan carries no ongoing fees, and allows you to lock in a rate for the security of knowing what your repayments will be.
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Review by
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146).
The Reduce Home Loans Home Owners Dream Fixed is available to borrowers who are looking to refinance an existing loan or who want to purchase an owner-occupied home.
There are no ongoing annual or monthly fees with this loan. Reduce will also cover the valuation fee if it's under $440. There are some fees to be aware of, including:
You'll need to be an Australian resident, over 18 years of age and borrowing between $50,000 and $3,500,000 to qualify for this loan.
You'll also need to provide the following during the application process: