Ratings
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 Package Home Loan does not offer tier pricing for lower LVR. With Package 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
loans.com.au
Q&As
Does loans.com.au Package Home Loan comes with an offset account?
No, Package Home Loan 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 loans.com.au Package Home Loan?
There is upfront costs of $530 to apply for Package 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 Package 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.