Rate Saver Home Loan 3 Yr Special Variable Rate Saver Home Loan 3 Yr Special Variable (Principal & Interest) (Owner Occupied)
4.76%p.a Basic 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, Construction, 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: - Only available for new loans - switching from an existing Commonwealth Bank home/ investment home loan is not permitted. - Discounted base variable rate that stays below the Rate Saver Base Variable Interest Rate (BVR) for 3 years. - At the end of the discounted period, the rate converts to the Banks relevant BVR current at the time (ie. Rate Saver BVR) or the customer can switch to another interest rate option. - Unlimited Special repayments (over repayments) - Repayment Holiday using Special repayments. This option allows customers to suspend loan repayments for nominated periods of 3 to 12 months, offering flexibility during lifestyle changes such as a career break, pregnancy or parental leave. - Repayment Redraw: Minimum Redraw amount of $1,000 for transactions completed over the counter in branch. - If Interest Only Option is chosen, Repayment Redraw is not available for the life of the loan. If customers subsequently want the Repayment Redraw option they must switch to a Standard Variable Rate. - 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 apply) and fees apply CBA will no longer accept IO payments for Home / Investment Home Loans which are construction / building loans. These loans must have P&I repayments after construction is complete and the loan has fully funded.
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.