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Introductory period
loans.com.au Expat Home Loan is a 5 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!
5 year
loans.com.au
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.
loans.com.au Expat Home Loan does not offer tier pricing for lower LVR. With Expat Home Loan, you can borrow upto $80% LVR.
80%
LVR
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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.
Tips: To get approved for an interest only home loan you need to have a strong enough income to afford principal and interest (P&I) repayments once your interest only term expires. Sometimes extending your interest only period can be tough and getting approved for a P&I refinance is a lot easier.
Paying pricinpal and interest
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Paying interest only
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Q&As
Does loans.com.au Expat Home Loan comes with an offset account?
Yes, Expat 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 loans.com.au Expat Home Loan?
There is upfront costs of $530 to apply for Expat Home Loan, with no ongoing account keeping fees.
- Valuation fee: $230
- Settlement fee: $300
Are there costs when I exit or refinance to another lender?
There is no discharge fee for Expat Home Loan. Which is a good news as most lenders charge a discharge fee range anywhere from $150 to $400 when you exit or refinance out.
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 loans.com.au or a mortgage broker just to be sure. This information should be used as a guide only.