Overview of the Resi Home Loans True Saver
The Resi Home Loans True Saver mortgage offers a seriously discounted interest rate that is substantially lower than the standard variable rate advertised by the Big four Banks. On top of their already-competitive rate, you can take advantage of a further discount if you keep your loan amount under of the property value.
Resi Home Loans will allow applications from personal borrowers, but also applications in the name of a company or a trust.
You can borrow up to 95% of the property value with this loan. However, a Lender's Mortgage Insurance fee may apply to any loan amounts that exceed Also, the discounted interest rate does only apply to loans below a loan-to-value ratio (LVR).
Loan features and benefits
This is a very flexible home loan, so you can make additional payments whenever you wish with no penalties. You can also access those extra payments by withdrawing them using the redraw facility. You can link a debit card to your account to make accessing the funds available in the redraw facility easier for you.
- This loan is suitable for personal residential use, as well as for investment use. It's able to be used to purchase an existing property, refinance a current home loan, or for construction purposes if you're building a new home.
- You can stick with the standard Principal and Interest payments, where some of the payment amount covers any interest charges and the remaining component pays down the balance a little more.
- Alternatively, you can opt for Interest-Only payments, where the payments you make are calculated only on the interest due. The maximum Interest-Only period allowed is up to 10 years. This is an ideal option for many investors who may want to maximise the deductible nature of their investment loan.
- Payment frequency can be amended from the standard monthly payments over to weekly or fortnightly, if this suits your pay schedule better.
- Resi Home Loans will also allow you to split your loan, so that a portion is locked into a fixed interest rate and the remaining portion stays on the low variable rate.
Applying for the Resi Home Loan True Saver Home Loan
If you're ready to apply for this home loan, you can click here to learn more and apply for the . This will take you to the Resi Home Loans website, where you can enter your contact details. You'll also be asked to enter a little bit of information about how much you want to borrow and a few other loan details.
When you're done, submit your enquiry form and a qualified representative from Resi Home Loans will contact you to discuss your application further at a convenient time for you.