Homeloans Optima Homeloans Optima LVR >90% (Principal & Interest) (Owner Occupied)
4.18%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 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 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
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 and Monthly.
- 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 Yearly
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
Product Overview: The Homeloans Optima product has all the essentials for a home loan for purchase, refinance and debt consolidation with a competitive interest rate. There is also an option for an Offset package designed for home buyers and investors who want a flexible home loan solution with an Offset facility. This is a fully transactional loan enabling you to pay off your loan while maintaining flexibility. 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) - Construction Minimum servicing ratio must be 1.00, Offset unavailable during construction period, max loan $1M Offset: - 100% Offset facility - Unlimited FREE transactions per month - If multiple loan splits, the Offset account can only be linked to one split Fixed Rate Option: - 1-5 year fixed options available - Additional repayments up to 5% max in a 12 month period - Free rate lock available for loans formally approved and is valid for 90 days - Offset facility unavailable - Redraw facility unavailable. 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 standard 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
95% inclusive of LMI cap for o/o purchase P&I repayments only 90% inclusive of LMI cap for investment purpose, refinance, cash out and construction
5% Genuine Savings required where LVR >85%.
Valuation cost nil for standard val, non-standard vals at cost. Construction Admin Fee $999 for all loans regardless of building contract value.