Homeloans Optima up to Homeloans Optima up to $749K LVR 80% (Principal & Interest) (Owner Occupied)
3.83%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 ["Construction", "Equity", "Owner Occupied"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].
- 0 - 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 repaments Fortnightly, Half-Monthly, 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.
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
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. Available for Individuals, Companies & Trusts. Purposes allowed include: - Purchase - Refinance - Debt Consolidation - Cash Out (max $100k or 20% of security value where LVR>80%) - Business Purposes (max 50% of total loan amount) - Construction (Minimum Servicing Ratio must be 1.10) Features - Redraw - Choice of Repayment Frequency - 100% offset account - Product Split - Extra Repayments Following the initial interest only term of 5 years, loans may be extended to a maximum 10 years interest only term from the original settlement date subject to LVR and loan conduct. Repayments via Direct Debit or Salary Credit. Acceptable securities - Standard residential properties - Construction loans Loan Statements -Default Bi-annual statements; Monthly and Quarterly available on request Loan Increases - Available fees, charges and conditions apply 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 100% Offset Facility Unlimited FREE transactions per month. For more information please refer to your BDM.
95% inclusive of LMI cap for o/o purchase P&I repayments only 90% inclusive of LMI cap for investment purpose and construction
5% Genuine Savings required where LVR >85%.
Homeloans will cover solicitor documentation fee of $363 Construction Fees: $699 (=$250,000) $999 (>$250,000)