Northern Inland CU
Smart Home Loan
7.94%
Interest rate
8.07%
Comparison rate
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.
Northern Inland CU Smart Home Loan does not offer tier pricing for lower LVR. With Smart Home Loan, you can borrow upto $90% LVR.
90%
LVR
Northern Inland CU
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
Northern Inland CU
Paying interest only
Northern Inland CU
Q&As
Does Northern Inland CU Smart Home Loan comes with an offset account?
Yes, Smart 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 Northern Inland CU Smart Home Loan?
There is upfront costs of $1100 to apply for Smart Home Loan.
- Application fee: $600
- Document fee: $500
Smart Home Loan also comes with ongoing account fees of $96 per year.
- Monthly fee: $8 per month
Are there costs when I exit or refinance to another lender?
Northern Inland CU charge a discharge fee of $200, 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 Northern Inland CU or a mortgage broker just to be sure. This information should be used as a guide only.