Resi Flexi Options Fixed Home Loan

Rates and Fees verified correct on December 11th, 2016

Enjoy a fixed rate home loan with a 100% offset account and the ability to make additional repayments with the Resi Flexi Options Home Loan.

The Flexi Options Home Loan from Resi gives you the ultimate control over your home loan with a fixed rate which won’t change over the fixed term. This home loan is perfect for first home buyers, those who are refinancing or those investing in property. Interestingly, this loan also comes with a 100% offset account and the ability to make a substantial amount in additional repayments each year, which is rare for a fixed rate loan.

Interest Rate Max Insured LVR Max LVR
2 Year Fixed Rate
4.24% p.a.
Comparison Rate
4.35% p.a.
95% 80%
3 Year Fixed Rate
4.24% p.a.
Comparison Rate
4.34% p.a.
95% 80%
Product NameResi Flexi Options Fixed
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Minimum Loan Amount$250,000
Maximum Loan Amount$2,500,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$150
Lender's Legal Fee$440
Valuation Fee$264
Ongoing Fees$10 monthly ($120 p.a.)
Settlement Fee$150
Discharge Fee$200

Things to consider about the Resi Flexi Options Fixed Home Loan

The Resi Flexi Options Home Loan is a multi-purpose home loan that can be used for both personal and investment purposes. The loan is designed for those who want to purchase or refinance an owner occupied property or an investment property. This home loan requires full evidence of your income for new loans. The Resi Flexi Options is a fixed home loan that provides you with all the security you need, while still offering you the flexibility you crave in a home loan. The loan has plenty of features, making it more than just your average home loan.

If you need a low doc loan, Resi provides their own Lo Doc home loan that may be more appropriate for you. They also offer different variable rate options.

Features of the Resi Flexi Options Home Loan

  • Maximum loan amount. The maximum amount you can borrow with this home loan is $2,500,000 to purchase your property, whereas the minimum loan amount is $250,000. You can borrow any amount between these figures.
  • Maximum LVR. LVR means the Loan to Value Ratio, and refers to the ratio of your loan size to the property value. For this loan the maximum LVR is 95%. That is, you need at least a 5% deposit. Keep in mind that having an LVR of over 80% will come with Lender’s Mortgage Insurance (LMI).
  • Loan term. The maximum loan term for this loan is 30 years. You will have up to 30 years to pay off the value of your home loan plus interest that accumulated over the years.
  • Additional repayment flexibility. The Resi Flexi Options Fixed Loan provides you with great flexibility in terms of repayments. You can select to make payments weekly, fortnightly or monthly. You can also make up to $20,000 in additional repayments during the fixed term to help you pay off your loan in less time with no penalties.
  • Redraw facility. This loan also allows you to redraw repayments you have already made. This means you can redraw your funds from your repayments when you need them. Your funds won’t be locked up and you can access them if need be.
  • Offset account. This home loan has a 100% offset account. The offset account is a transaction account linked to your home loan and will assist you with paying off your home loan quicker. You can get a debit card linked to your offset account.

Fees

Fees you can avoid

  • Ongoing fees: $10. There are no ongoing fees with this home loan. This will assist you in saving money over the duration of your home loan.
  • Early repayment fees: $0. There are no early repayment fees for this loan.
  • Redraw fees: $0. There are no redraw fees and you can make redraws when you need to with this loan.
  • LMI: When the LVR is less than 80% you will pay no LMI. If the LVR is above 80%, then you will be liable for fees and charges from the provider. The amount you pay will depend on the size of your loan and other factors.

Fees you can’t avoid

  • Establishment fees: $150. This fee is charged for the establishment and preparation of your loan.
  • Valuation fees: $264. This covers the lender’s third party costs in having your property valued.
  • Discharge fees: $200. This fee is associated with discharging your loan documents.
  • Lender’s legal fees: $440. This is charged to cover the legal processing of your documents when completing your home loan application.

Know how much you want to borrow? Use our calculator to find out what your repayments will be

How to apply for the Resi Flexi Options Home Loan

Applying for the Resi Flexi Options Home Loan is easy and can be done online. Before you apply, you must consider if you are eligible for this home loan. If you are eligible, you are now ready to complete your application online. Ensure you have the following information and documentation ready for your application:

  • Employment history
  • List of current assets and liabilities
  • Information about the property you want to purchase

For a secure and flexible home loan with plenty of features, the Resi Flexi Options Home Loan has what you need. Compare the range of personal loans available to you and if this one seems right, don’t hesitate and apply online today.


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Resi Flexi Options Fixed Home Loan Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 19 January 2015 at 19:05.

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2 Responses to Resi Flexi Options Fixed Home Loan

  1. Default Gravatar
    Gluteus | May 27, 2014

    Great Article! Can a Resi Flexi loan can be used for purchasing properties under a trust structure?

    • Staff
      Shirley | May 28, 2014

      Hi Gluteus Maximus,

      Thanks for your question.

      This is available on a number of their home loans; for more information please contact the customer service team at Resi.

      Cheers,
      Shirley

Resi Flexi Options Fixed

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $150 / $10

  • Max LVR

    80%

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