GMCU
Standard Home Loan
Owner Occupied Variable Principal & Interest 0 Years 80% LVR
6.19%
Interest rate
6.35%
Comparison rate
Rates as at 28 Sep 2026
Ratings
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About this rate option
The GMCU Standard Variable Plus Home Loan is for owner-occupiers with a variable rate of 6.19% (comparison rate 6.35%), repayable by principal and interest so the balance reduces over time. Borrowing is available up to 80% of the property value, meaning a deposit of at least 20% is required. The loan includes an offset account, redraw facility and the ability to make extra repayments. Various fees apply, with amounts available on request, and approval is subject to eligibility criteria.
This summary was generated from GMCU’s published product data for this specific rate option. Always confirm current rates with the lender.
About Standard Home Loan
Interest only loans have traditionally been tailored to investors so they can reduce their mortgage repayments and maximise their tax benefits and overall return on investment (ROI). However, getting home loan with interest only (IO) has its place and some lenders are willing to consider your application if you can provide valid reasons.
LVR is an acronym for Loan-To-Value Ratio. The LVR is the amount you are borrowing against the property value being used as security, represented as a percentage.
Fees & Costs
- A 100% offset account is an account linked to your home loan where you can park your savings and spare cash to reduce the interest you pay. Then, when interest is calculated on your home loan, the balance in your offset account is deducted from the loan amount owing, and interest is only charged on what remains.
- GMCU charge a discharge fee of $270, which covers the cost for removing the mortgage that has been registered on the title of your property.
Borrowing Limits
- An LVR of 95% is a high risk, whereas an LVR of 80% or less is considered safe by most lenders. The majority of lenders will require you to pay Lenders Mortgage Insurance (LMI) if you borrow over 80% LVR.
Eligibility
- Interest only repayment option is not available with GMCU Standard Home Loan for buying next home.
- Interest only repayment option is not available with GMCU Standard Home Loan for investment loan.
- Interest only repayment option is not available with GMCU Standard Home Loan for refinance.
IMPORTANT:Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with GMCU or a mortgage broker just to be sure. This information should be used as a guide only.
Other rate options for Standard Home Loan
Refinance
Variable · Principal & Interest
0 Years · 80% LVR
6.19%
Refinance
Variable · Principal & Interest
0 Years · 95% LVR
6.59%
Investment
Variable · Principal & Interest
0 Years · 80% LVR
6.39%
Investment
Variable · Principal & Interest
0 Years · 95% LVR
6.79%
Owner Occupied
Variable · Principal & Interest
0 Years · 80% LVR
6.19%
Owner Occupied
Variable · Principal & Interest
0 Years · 95% LVR
6.59%
Frequently Asked Questions
Are there costs when I exit or refinance to another lender?
GMCU charge a discharge fee of $270, which covers the cost for removing the mortgage that has been registered on the title of your property.
Does GMCU Standard Home Loan comes with an offset account?
Yes, Standard Home Loan comes with a 100% offset account. A 100% offset account is an account linked to your home loan where you can park your savings and spare cash to reduce the interest you pay. Then, when interest is calculated on your home loan, the balance in your offset account is deducted from the loan amount owing, and interest is only charged on what remains.
What are the costs to apply for GMCU Standard Home Loan?
There is upfront costs of $500 to apply for Standard Home Loan. Application fee: $500 Standard Home Loan also comes with ongoing account fees of $96 per year. Monthly fee: $8 per month
Fees
- Application fee
Important Information
Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with GMCU or a mortgage broker just to be sure. This information should be used as a guide only.