12 Month Discounted Variable Rate 12 Month Discounted Variable Rate (Principal & Interest) (Owner Occupied)
5.22%p.a Standard Variable
About Commonwealth Bank
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 95% 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 Bridging, Equity, Owner Occupied, and Vacant Land in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 1 - 30 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Genuine Saving
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
OTHER PRODUCT INFO: Features & Benefits: - The interest rate is set at a margin below the Standard Variable Home/ Investment Home Loan interest rate for the first 12 months from the date of first loan drawing. - At the end of the introductory rate period the interest rate converts to the Standard Variable Rate current at that time. - No minimum Redraw amount for transactions completed via NetBank, Telephone Banking, ATMs, EFTPOS or EFTPOB. - Minimum Redraw amount of $1,000 for transactions completed over the counter in branch. - Mortgage Interest Saver Account (MISA) 100% off-set (Minimum opening deposit $1000, minimum transaction amount after opening $500. No Commonwealth Bank withdrawal fees apply). - Interest calculated daily, charged monthly so the customer benefits immediately from every repayment they make. - Portability - the home loan can move with the customer (conditions and fees apply) - Variable and Fixed Rate Options (Split Loans). Where a Variable and Fixed progressive drawing is required the loan amount must be drawn down in the following order: Any introductory rates (i.e. One Year Guaranteed or 12 Month Discounted), then; Any Fixed Interest Rate, and finally Any Variable Interest Rate - Switch to a fixed interest rate at any time - Statement frequency 6 monthly or on request (a fee applies for requested statements) - Card access available for Home/ Investment Home Loans/ MISAs in single names or where there is more than one name and the Method of Operation is Either to Operate. Repayment options: - Monthly, fortnightly and weekly repayment options are available. - Payment options of principal and interest or interest-only (subject to a maximum of 15 years) are available. - Interest only - make interest payments for a period of 1-10 years for Home loans and 1-15 years for Investment loans. - Additional repayments of any amount can be made without incurring an Early Repayment Adjustment (ERA).
LMI required above 80%. Maximum LVR 95% for Owner Occupied and 90% for Investment inclusive of LMI. The maximum LVR for residential real property supporting Secured Consumer product(s), where the customer is being refinanced from another financial institution is 90% inclusive of any LMI. The Maximum LVRs will also depend on the borrowers residency status and the currency used for servicing. LVR restrictions apply to company title applications. Refer to Eligible Borrowers matrix for details.
A minimum of 5% savings or equity must be verified for all new Home Loans where the base LVR is greater than 85% (including loans with a LVR of up to 95%).New borrowers are required to contribute a minimum 5% of the purchase price in the form of genuine savings (or equity). This will need to be verified for all new loan applications. Genuine savings can comprise of the following, and must be held for a minimum period of 3 months: A demonstrated savings pattern (regular/irregular deposits - varied amount/frequency); Gift (held in an account); Term Deposit; Cash (held in an account); Shares; Monetary Inheritance; Equity in an existing property. 5% savings held for less than 3 months may also be accepted (Conditions apply - Refer CBA policy). Savings (or equity) can also be considered in either of the following scenarios: If 5% held for less than 3 months but evidence of accelerated repayments; Bonus payments - in conjunction with a savings pattern. FHOGs, borrowed funds (ie. Personal Loans) and sale of assets (excluding property) are not acceptable types of savings or equity.
Establishment Fee for: Off the Plan applications is $800. Top Up or increase to an existing loan is $300. When there are two or more new home loans, investment home loans or LOCs applied for at the same time the Establishment Fee is $600 for each of the first two accounts, plus $300 for each additional account.