Homeloans Ultra Plus Homeloans Ultra Plus $200K-$499K LVR 80% - 90% (Interest Only) (Owner Occupied)

  • 4.22%
    p.a Standard Variable
  • 4.28%
    p.a Comparison**
  • $363
    Upfront fees
  • $120
    Annual fees
  • 90%
    Max Lvr
  • $1,900
    Per Month*

About Homeloans

Homeloans has provided Australians with an alternative to banks for their home finance since 1985. They specialise in home loans, and have a wide range of products to meet the needs of all customers, from first home buyers to investors. Homelaons were listed on the Australian Securities Exchange (ASX) in 2001, and today their major shareholders include National Australia Bank and Macquarie Bank. They pride themselves on quality award-winning service.

Standard Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
$1,900
rate per annum
4.22%

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.

Lvr
90%
Capitalise LMI
Yes

Availability

For ["Construction", "Equity", "Owner Occupied", "Vacant Land"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

Term
5 - 30 years
Min
$200,000
Max
$499,999

Eligibility

The level of financial documentaion and credit history required to apply for the loan.

Financials
Full Doc
Credit History
Conforming
Genuine Saving
Required

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
Yes
Min Redraw
$0
Redraw fee
$0

Banking Features

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
No
Redraw Available
Yes
Credit Card
No
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
Yes
Portability of Loan
Yes
Professional Pack
No
Check Account
No
Direct Salary Credit
Yes
Free Transactions
Yes
Minimum Redraw
No
Redraw Fee
No

Repayments

You can make your repaments Fortnightly, Monthly, and Weekly.

Interest Only Option
Yes
Max Interest Only
5 years

Upfront Fees

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.

Total
$363
Settlement
$363

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$120
Ongoing Yearly
$120

Exit Fees

Fees associated with prematurely ending the loan.

Total
$695
Exit
$545
Early Repayment
$0
Switch To Fixed
$150

Notes

SPECIAL OFFER – Homeloans Ltd is waiving its $199 Application Fee for new loan submissions until further notice OTHER PRODUCT INFO: RATE LOADING MAY APPLY TO LOANS <$200,000, PLEASE REFER TO INTEREST RATE CARD IN DOCUMENT LIBRARY . No owner builder for vacant land . The Homeloans Ultra Plus is a fully featured loan for purchase, refinance or debt consolidation at a reduced interest rate. **Please note: Minimum Loan amount required for the Homeloans Ultra Plus 75 is $200,000 Features; -Redraw -Extra Repayments -Monthly credit card sweep -Choice of Repayment Frequency Cash Out is available as per following: LVR up to 80%: Unlimited. LVR >80%: Subject to LMI Insurer. Some conditions apply. Once P&I option is selected, P&I repayments are required for the term of the loan. Interest only converts to P&I after maximum of 5 years for the remainder of the time. Loan Increases Available – Fees, charges and conditions apply. Loan increases not available for construction loans during progress payment period Please do not hesitate to contact your BDM for further info RATE LOADING MAY APPLY TO LOANS <$200,000, PLEASE REFER TO INTEREST RATE CARD IN DOCUMENT LIBRARY

LVR Notes

Max loan amount of $2m applies to <80% LVR and varies for >80% to 90% LVR (Varying maximum loan amounts will apply for loans with regional or country securities as dictated by LMI policy). LMI is applicable over 80% LVR and borrower pays. Max LVR 90% plus LMI premium for purchases (max LVR 95) Max LVR for Refinance and Debt consolidation to 90% plus LMI premium capitalised (max LVR 93%)

Fee Notes

Homeloans covers the cost of 1 std valuation per app on the Ultra range. All Homeloans accredited brokers will be entitled to 1 free std val up to $300 per app. Non-std vals and additional vals will be charged to the borrower. Loan processing fee quoted as Settlement Fee. Free redraw via internet, telephone, ATM, EFTPOS or Direct Credit. Manual redraw fee $45. A $300 Construction Drawdown Fee will apply and be debited to the loan prior to the first progress pa

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided