Homeloans Flexichoice Clear 80% to 85% Homeloans Flexichoice Clear >80% to 85% (Principal & Interest) (Owner Occupied)
6.36%p.a Standard Variable
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 Owner Occupied 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
- Non Conforming
- 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
- Internet Banking
- Telephone Banking
- Credit Card
- 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.
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
Non-resident lending policy all applications: - Non resident loans are not applicable on FlexiChoice Specialist products STEPPED RATE DISCOUNT: Applies to FlexiChoice Plus and FlexiChoice Assist products only. If on the first and second anniversary of 12 on time payments, the funder will decide in absolute discretion that the conduct of the loan has been satisfactory, then the interest rate will reduce by the following levels: First Anniversary Discount: 0.25%p.a. (e.g. 9.00% to 8.75%) Second Anniversary Discount: 0.25%p.a.( e.g. 8.75% - 8.50%) Notes: Satisfactory is defined as the loan not being in default at the review date, and the Borrower has not defaulted on any payment in the 12 months immediately prior the anniversary (i.e. on time payments and no arrears balance). The applicable interest rate reduction will be made in the month following the relevant anniversary but applied with effect from the anniversary date. Where a loan has been in arrears at any stage in the first two years, the applicable 12 month period does not re-commence until all payments have been adjusted in full, including all fees and charges. It is possible for the original step-down period of two years to be extended if there has been a missed or late payment within the first two years. RATE LOADING MAY APPLY TO APPLICATIONS CONSIDERED ON AN EXCEPTIONS BASIS. MAXIMUM LOAN AMOUNTS (Maximum LVRs and Loan Amounts may be reduced for applications considered on an exceptions basis): 75% LVR - $1,5M 80% LVR - $1,25M 85% LVR - $1M 90% LVR - $750K. Maximum LVR (Specific Cases Only): Where the security property is located in Victoria, the maximum LVR will be 5% less than the product limit. LMI WAIVER FEE: Up to 70% LVR - 0.30% >70% up to 80% LVR - 0.80% >80% up to 85% LVR - 1.05% >85% up to 90% LVR - 1.30%. LMI Waiver Fee Capitalisation: To max LVR of 90%. NOTE: Capitalisation of LMI Waiver Fee does not alter the original LVR for Interest Rate purposes. The Homeloans FlexiChoice full doc has been specifically tailored to suit the needs of borrowers who fall outside the mortgage insurance and banking guidelines. Types of borrowers that may fall into this category include: self-employed borrowers, credit impaired borrowers, contract workers and other Applicants who do not fit into mainstream products, or borrowers who have reached their exposure with mortgage insurers. Key Benefits: - No Lenders Mortgage Insurance LMI Waiver Fee applies to all loans - Adverse credit history is considered - Adverse mortgage arrears considered - Bankruptcy discharges considered - No limit on the number of debts that can be consolidated - Available for refinance, including Non-Conforming, Private and Solicitor Loans - Child support (children 13 and under) and Family A & B benefits (children 11 and under) accepted - Unlimited Cash Out for any worthwhile purpose including payout ATO debts, working capital and purchase of business equipment (Max LVR 80% for cash out) - Refinance of business loans (Please Note max LVR is 80% for Business Purposes) Features: - Redraw - Credit impairment considered - To 90% LVR - Choice of Repayment Frequency - Extra Repayments - 100% Offset available Repayment Methods of Direct Debit, Direct Credit, BPAY. Internet and Phone Redraw: Min $100 Max $20,000 per day, no fee. Manual Redraw: Min $100 Max is the balance available. Redraw Fee $26. Loan Statements issued Six Monthly. Loan Increases: Interest Rate Increase and LMI Waiver Fee may be applicable - rate and amount dependant on end LVR. Split and Switch Loans: There is a maximum of 6 split loan accounts. The minimum amount of a split loan is $10,000.
Risk Fee replaces LMI. Risk Fee applies to all loans regardless of LVR. Max LVR 90% inclusive of any capitalised Risk Fee. Capitalisation of Risk Fee does not alter the original LVR for rate purposes. Refer to Product Guide for further information.
Valuation cost payment required following conditional approval. Quoted valuation fee of $300 is the average cost of valuation. The borrower/s will be charged the exact cost of the valuation.