Homeloans FlexiChoice Prime Standard Homeloans FlexiChoice Prime Standard LVR 80 90% (Principal & Interest) (Owner Occupied)
4.04%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 90% 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 Equity and Owner Occupied in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 15 - 30 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.
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
Non-resident lending policy all applications: - Maximum LVR of 70% - Category A security locations only (refer Acceptable Property Locations tool on Loanzone) - Lenders Mortgage Insurance will no longer be available - An interest rate loading is applicable above the applicable Investment interest rate. Refer to your BDM. - Non resident loans are not applicable on FlexiChoice Specialist products The Homeloans FlexiChoice Prime product can cater to borrowers who have either genuine savings or little in the way of a deposit and dont have 5% genuine savings to contribute as a deposit - the equity contribution may be by way of a gift, First Home Owners Grant (FHOG) or debt. In the case of a gift forming the deposit, a statutory declaration must be obtained from the provider of the gift to inform of their relationship with the recipient, and confirm that the gift does not have to be repaid or to advise of the terms of any required repayment. If the deposit is borrowed, either by another loan or by a credit card advance, these new repayments must be included for serviceability calculation. No Credit Scoring: There is no credit scoring on applications with genuine savings up to 90% plus LMI. Where seeking the genuine savings interest rates and to receive no credit scoring, when the LVR is >85% borrowers must demonstrate genuine savings of at least 5% of the proposed purchase price, held or accumulated over a minimum period of 3 months. Key Criteria: - Borrowers must have clear credit history - Borrowers must be in their current employment for a minimum of 12 months or 24 months continuous employment within the same industry - Borrowers must disclose the source of funds and provide appropriate evidence - Product excludes Construction of residential property Purchase vacant residential land Home improvement Refinance: - Refinances available up to 95%LVR - dollar for dollar - only be for an owner occupied property - cant have any other debt consolidation cash out etc. - LMI cant be capped. Features: - To 95% LVR - Redraw - Choice of Repayment Frequency - Extra Repayments - 100% Offset available Borrower Type: Individuals Australian residents only. Fixed rates available on request. Weekly, Fortnightly, Monthly repayments via Direct Debit, Direct Credit, BPAY. Fee free Internet and Phone Redraw. Min $100, max $20K per day. Manual redraw fee $26, min $100 and max is the balance available. Loan Increases: Interest Rate Increase may be applicable. Amount dependant on end LVR. 90% LVR: Owner Occupied and investment. Purchase, Debt Consolidation and Cashout (Genuine savings required >85%). 95% LVR: Purchase Non Genuine Savings. Owner occupied only. Rate loading applies and HomeBuyer Plus LMI Premium applies.
LMI not required <85% LVR. **Risk Fee of 1.00% is payable between 80% and 85% when LMI is not taken out. Risk Fee cannot be capitalised above 85%. LMI premium may be capitalised up to a maximum of 95%.
No cost to borrowers for standard loans only (individual borrower (s), and a single security property.) Includes document preparation, search fees, bank cheques, postage and all other sundries. Solicitors fees on all other non standard loans (e.g. additional securities, companies, guarantees, trusts etc) are subject to higher fees. Manual Redraw Fee: $26.