Homeloans Optima LOC Homeloans Optima LOC LVR 80% (Owner Occupied)
4.43%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 80% 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 Line of Credit, Equity, and 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
- 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 Monthly.
- Interest Only Option
- Max Interest Only
- 5 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 Yearly
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
Product Overview: The Homeloans Optima LOC product has all the essentials for a home loan for purchase, refinance and debt consolidation with a competitive interest rate. The Optima LOC product is designed for home buyers and investors who want the flexibility to easily access the equity in their property at a competitive interest rate. Loan Purpose: - Purchase - Refinance - Debt Consolidation - Cash Out where LVR >80% limited to 5% of refinance amount, max $100K or 20% of security value whichever amount is lowest) Rate Conversion: - Borrowers may apply to convert to a fixed rate at any time and rate conversion fee may apply - At the expiration of the fixed term, the loan reverts to the applicable variable rate Redraw: - Internet banking min redraw and fees $0 - Client services/Telephone min redraw $0 fee $50 Loan Increases: Available fees, charges and conditions apply
LVR 75% - Max Loan $5M
Valuation cost nil for standard val, non-standard vals at cost. Construction Admin Fee $999 for all loans regardless of building contract value.