Variable ALT Home Loan F585C 80% 85% Variable ALT Home Loan - F585C - 80% - 85% (Principal & Interest) (Owner Occupied)
6.31%p.a Standard Variable
About Better Choice Home Loans
Repayments calculated to take into account ongoing monthly and anual fees.
- Monthly repayment*
- rate per annum
Loan to Value Ratio
Borrow up to the maxium of 85% of the value of the property.
Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.
However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.
- Capitalise LMI
For Construction, Equity, Owner Occupied, and Vacant Land in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 10 - 40 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Genuine Saving
- Not Required
Save on interest repayments by holding spare cash in an offset account.
- Offset account
Get quick access to cash by drawing on the loan to pay for renovations or other purchases.
- Redraw Facility
- Min Redraw
- Redraw fee
Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.
Some features you may wish to consider include:
- an offset account;
- ability to make extra repayments;
- a redraw facility; and
- linked credit card and savings accounts;
- ability to split your loan between fixed and variable interest rates
- Offset Account
- Redraw Available
- Credit Card
- Internet Banking
- Telephone Banking
- BPay Option
- Portability of Loan
- Professional Pack
- Check Account
- Direct Salary Credit
- Free Transactions
- Minimum Redraw
- Redraw Fee
You can make your repayments Fortnightly, Monthly, and Weekly.
- Interest Only Option
- Max Interest Only
- 0 years
Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.
Monthly and annual fees and charges during the loan period.
- Ongoing Monthly
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
Max 90% LVR for purchase of owner occupied or investment properties. Max 90% LVR for Refinances inclusive of Risk Fee. Available with 100% offset account with optional Visa debit card. Monthly fee applies (see fees sheet). Business - Purchase, Refinance and Consolidation. NRAS included to max LVR. Unlimited cash out to 90% LVR. Loans up to 40 years. Non Genuine Savings. Minor defaults up to $1,000 accepted, Unlimited defaults and judgments > $1,000, registered > 24 months (paid or unpaid), Discharged from bankruptcy (1 day accepted). Income Documentation (PAYG) Last 2 pay slips plus one of the following: Letter of employment or Tax assessment notice or Latest group certificate or 3 months bank statements. Income Documentation (Self-Employed) Last 2 years tax returns & Last 2 years tax assessment notices. Construction Available: Max 90% LVR plus Risk Fee for purchase or refinance of an existing land loan with immediate construction. Owner Occupied only. Max loan amount $850,000. Min loan amount $50,000. Max loan term 30 years. 1 year Interest Only repayments with P&I repayments for the remaining term. Monthly and Drawdown fees apply (see fees sheet). A minimum of 4 valuations will be required. Can be used for completion of major renovations and improvements of a structural nature to an existing property. Single residential dwelling only. Construction valuation fee of $950 PLUS up to 5 progress inspection fees are required (with a minimum of 4 required)
Max 55% includes Purchase & Refinance O/O & Investment. Construction max loan $850K
$400 title insurance fee is waived for new applications received by 26th January, 2018. Note this is not the case for construction. Note: Please see lender's Risk Fee document for applicable fees.