Ratings
Introductory period
loans.com.au Green Home Loan Intro 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 Green Home Loan Intro does not offer tier pricing for lower LVR. With Green Home Loan Intro, you can borrow upto $90% LVR.
90%
LVR
loans.com.au
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 loans.com.au Green Home Loan Intro for refinance.
Paying pricinpal and interest
loans.com.au
Q&As
Does loans.com.au Green Home Loan Intro comes with an offset account?
No, Green Home Loan Intro does not come with an offset account.
While it does not have the convenient that comes with an offset account, but $Green Home Loan Intro comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
What are the costs to apply for loans.com.au Green Home Loan Intro?
There is upfront costs of $530 to apply for Green Home Loan Intro, 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 Green Home Loan Intro. 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.