Hume Bank
Liteblue Spring Locals Only Exclusive Offer
5.89%
Interest rate
6.18%
Comparison rate
Ratings
Introductory period
Hume Bank Liteblue Spring Locals Only Exclusive Offer is a 2 year introductory rate loan. An introductory rate is a special interest rate discount offered for the first year of your home loan, allowing you to get a headstart on your repayments.
Tips: Many lenders give you a cheaper rate in the first year as a carrot, then revert your rate to the Bank Standard Variable Rate and then refuse to give you a discount. This is the major problem with introductory rates, don't get caught out, ask your lender about discounts after the introductory rate has expired!
2 year
Hume Bank
LVR options
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.
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.
Repayment options
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.
Interest only repayment option is not available with Hume Bank Liteblue Spring Locals Only Exclusive Offer for construction loan.
Paying pricinpal and interest
Hume Bank
Q&As
Does Hume Bank Liteblue Spring Locals Only Exclusive Offer comes with an offset account?
No, Liteblue Spring Locals Only Exclusive Offer does not come with an offset account.
Generally speaking, variable home loans without offset accounts are often called basic or 'no-frills' loans, you get lower account-keeping fees and lower interest rate for your home loan. In some cases a basic home loan can actually be cost efficient than a 100% offset account.
What are the costs to apply for Hume Bank Liteblue Spring Locals Only Exclusive Offer?
There is upfront costs of $349 to apply for Liteblue Spring Locals Only Exclusive Offer, with no ongoing account keeping fees.
- Application fee: $199
- Settlement fee: $150
Are there costs when I exit or refinance to another lender?
Hume Bank charge a discharge fee of $350, which covers the cost for removing the mortgage that has been registered on the title of your property.
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 Hume Bank or a mortgage broker just to be sure. This information should be used as a guide only.