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 Zip Home Loan does not offer tier pricing for lower LVR. With Zip Home Loan, you can borrow upto $80% LVR.
80%
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 Zip Home Loan for refinance.
Paying pricinpal and interest
loans.com.au
Q&As
Does loans.com.au Zip Home Loan comes with an offset account?
No, Zip Home Loan does not come with an offset account.
While it does not have the convenient that comes with an offset account, but $Zip Home Loan 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 Zip Home Loan?
There is upfront costs of $530 to apply for Zip 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 Zip 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.