Key Features
You can SAVE hundreds
with this loan
-
Offset AccountYes
-
Redraw FacilityYes
-
Additional RepaymentsYes
-
Loan Type4 Years Fixed
-
Min Loan
Max Loan$100,000.00
No maximum -
Settlement Fee$445
-
Monthly Fee$10
-
Discharge Fee$500
-
Internet AccessYes
-
LVR90%
-
Repayment TypePrincipal & Interest
-
Loan SplittingYes
Repayments Calculator
Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House’s prevailing credit criteria apply. Please note that your actual fortnightly repayment would be equal to the monthly repayment amount divided by two. Weekly repayments would equal the monthly repayment amount divided by four. If you choose to pay fortnightly or weekly, your actual repayments will be higher than repayments shown on this page. You can reduce the term of your loan if you choose to make repayments fortnightly or weekly. We recommend you seek independent legal and financial advice before proceeding with any loan.
Loan Details
-
Interest RateComparison RateThe Comparison Rate is based on a loan of $150,000.00 over 25 years. Fees and charges may be payable. WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
-
Owner Occupied6.74% p.a.6.87% p.a.
-
Maximum LVR90%
-
Minimum Loan Size$100,000.00
-
Maximum Loan SizeNo maximum
-
Fixed RatesYes
-
Loan SplittingThe ability to have many separate accounts under one loan for which there may be multiple purposes, e.g personal and investment splits, fixed and variable splits, etc.Yes
- Repayment Options
-
-
Principal & InterestA loan in which both the principal and the interest are repaid over the term of the loan. Amortisation or amortising is another word for these loans that are gradually being paid off over a set period of time (the loan term). P&I can also be the abbreviation term for Principal & Interest.Yes
-
Interest Only
-
Additional RepaymentsMoney IN - Allows you to make additional repayments without penalty.Yes
-
Direct DebitsMoney IN - A direct debit is an automatic payment that is set up to repay your home loan. You specify the frequency and repayment amount as well as the bank or transaction account that the repayment is to be drawn from and this payment will occur automatically on the set due date.Yes
-
Salary CreditMoney IN - A manual payment to a loan account either via internet transfer or employee payroll transferYes
-
Direct CreditsMoney IN - The ability for an external party to pay directly into a borrower's loan accountYes
-
Deposit CardMoney IN - A card used at the post office to deposit your repayments (they can be your normal repayments that are due or additional repayments)Yes
-
Bpay InMoney IN - The ability to pay your loan via a unique biller code from another financial institutionYes
-
Capitalising of Interest
-
Line of Credit
-
- Loan Purpose
-
-
PurchaseWhere you are buying a propertyYes
-
RefinanceWhere you are looking to move your current loan from one lender to anotherYes
-
Debt ConsolidationWhere you are looking to move multiple loans into one loanYes
-
ConstructionWhere you are building a new propertyYes
-
Vacant LandWhere you are purchasing land with no immediate intent to build the new property straight awayYes
-
Equity ReleaseWhere you are looking to release cash from equity you have built up in your propertyYes
-
Business PurposeWhere you are looking to use funds for a business useYes
-
- Features
-
-
100% Offset FacilityA non-interest earning account where 100% of the balance is offset against the home loan to reduce the total interest payable.Yes
-
Redraw FacilityMoney OUT - If you have made any lump sum or additional principal repayments to your loan account in excess of the standard repayment amount, you can access or draw back those extra repayments.Yes
-
No Monthly Fees
-
No Package Fee (excluding Stretch Feature)No fee to pay each & every year.Yes
-
No Rate Lock Fee
-
Stretch Package FeatureThe ability to include a credit card facility at home loan rates into your home loan facilityYes
-
Low Deposit Option
-
Toggle FeatureAn innovative new loan feature that allows you to maximise your interest savings through and intelligent offset Toggle systemYes
-
Relocation FeatureThe ability to purchase you next home prior to you selling your current propertyYes
-
Repayment Sweep of Credit CardMoney OUT - Allows your loan to automatically clear your credit card linked to this loan back to zero each month.Yes
-
Internet AccessThe access via the internet to view & administer your home loan.Yes
-
Phone AccessThe access via the phone to administer your home loan.Yes
-
ATM / EFTPOS Debit CardMoney OUT - An ATM card is included on this loan in order for you to withdraw cash or make purchases for living purposes.Yes
-
3rd Party Direct DebitsMoney OUT - You can pass your loan account number & BSB to another financial institution in order to take money periodically from your home loan account.Yes
-
Repayment RequiredEach repayment cycle (normally monthly) a repayment must be made, regardless if you have redraw available in the loan account.Yes
-
Cheque Book
-
LMI Premium CapitalisationThe ability to capitalise the Lenders Mortgage Insurance premium on top of your required loan amountYes
-
3rd Party Protocol FriendlyMoney IN and Money OUT - A payment made to a loan account or an amount taken from a loan account either via internet transfer, employee payroll transfer or by an external partyYes
-
Loan SwitchingYou can switch you loans variable interest rate to a fixed interest rate (subject to the terms and conditions of your loan)Yes
-
Up to 40 Year Loan Term
-
Up to 30 Year Loan Term
-
Up to 25 Year Loan Term
-
SMSF Loans
-
Deposit BondA deposit bond acts as a substitute for the cash deposit in between signing a contract and settlement and can be issued for all or part of the deposit amount required, up to 10% of the purchase price. At settlement, the purchaser is required to pay the full purchase price including the deposit.Yes
-
NRAS Option
-
Bpay OutMoney OUT - The ability to pay your loan via a unique biller code to another financial institutionYes
-
No LMI Premium Payable By Borrower
-
Mortgage Insurance not Required
-
Loan PortabilityA feature that enables a home loan to be transferred from one property to another, without refinancing. It can be of benefit by savings on loan set-up fees and government loan security duty.Yes
-
- Fees
-
-
Monthly Fee$10
-
Package FeeNo package fee
-
Rate Lock FeeNo rate lock fee
-
Application FeeNo application fee
-
Valuation FeeUp to $300 free^
-
Settlement Fee$445
-
Discharge Fee$500
^Mortgage House will pay up to $300 per property, any excess valuation fees are payable by the borrower(s) -
What interest rate loan options are available?
What features does this fixed rate home loan include?
Our 4 Years Fixed Mortgage is full of features that can provide owner occupiers with both flexibility and the security of fixed payments. Its key features include access to an offset account, a redraw facility and the freedom to make extra payments. An offset account is a non-interest earning account where all of the balance is offset against the home loan. This can allow you to reduce the total interest payable, and can save you money over the life of the loan. The redraw facility attached to our 4 Years Fixed Mortgage allows you to have access to any additional principal repayments or lump sum amounts you have paid off the loan. And unlike some fixed term mortgages, you can also make additional payments without being penalised. Our 4 Years Fixed Mortgage is suitable for a range of mortgage requirements such as the purchasing of a home, refinancing, debt consolidation, building a new home or buying land, or looking to release equity in an existing home.
How much can I borrow with this fixed home loan?
With our 4 Years Fixed Mortgage, the minimum loan size is $100,000, and there is no maximum amount. The Loan to Value Ratio (LVR) required for this loan is 90%. The LVR is the value of the loan divided by the value of the property the loan is being used to buy. For example, if you have a house that is worth $500,000, the maximum amount you could borrow with our 4 Years Fixed Mortgage is $450,000. If you want to know what documents you need to apply for this loan, our handy checklist can give you all the information you need. And like all mortgages, our borrowing calculator can give you an indication of how much you may be able to borrow with our 4 Years Fixed Mortgage. Make sure you fill in all the information as accurately as you can, and remember it is only a guide. Speak with our experienced lenders and we can help steer you through the process.
Can fixed rate loans make budgeting easier?
Fixed rate mortgages can be a safety blanket when you are buying a home, especially if it’s your first one. Having the security of knowing exactly what your repayments will be over an agreed period of time can be an assurance a lot of people need. Buying a house will probably be the largest purchase most people will make in their lives, and being able to budget for a fixed amount of repayments each week, fortnight or month for the agreed time period is reassuring. Fixed term mortgages such as our 4 Years Fixed Mortgage mean your repayments will not change over the agreed time, and will not be subject to external influences such as national and international economic conditions. If the world economy is volatile, fixed mortgages can be popular, because they can offer that extra level of security. And at the same time, if official variable interest rates are low, mortgages such as our 4 Years Fixed Mortgage can also be attractive, as people prepare for possible variable rate increases.
How are variable rate loans different?
As we mentioned above, variable rate loans differ from fixed rate loans because the interest rate can change – up and down – over the life of the loan. Variable interest rates can change for a number of reasons. The most well-known influence on variable interest rates is the Reserve Bank. Based on a set of goals and indicators aimed at keeping the Australian economy stable, it is the RBA’s role to set the official cash rate, which is the interest rate banks pay or charge to borrow funds from, or lend funds to, other banks on an overnight unsecured basis. The cash rate is the primary influence over other interest rates. Banks and lenders may also change their rates based on internal factors and influences, or to compete against other lenders.