Qudos Bank Fixed Home Loan - Investment - Fixed

Ratings

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About this rate option

This Qudos Bank fixed home loan option carries a 6.84% interest rate (6.44% comparison rate) and is designed for investment property purchases, with principal-and-interest repayments that reduce the loan balance over time. The rate is fixed for two years and applies to borrowings up to 80% of the property value, meaning a deposit of at least 20%. During the fixed period you can make up to $10,000 in extra repayments each year without a break cost fee. After two years, the rate typically reverts to the lender's variable rate.

This summary was generated from Qudos Bank’s published product data for this specific rate option. Always confirm current rates with the lender.

About Fixed Home Loan

Key Features

Generally speaking, offset accounts is more common with variable rate home loans than fixed loan 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.

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.

Unlike in the US, there are no lenders in Australia that offer 20 or 30 year fixed rates for standard residential home loans. Qudos Bank Fixed Home Loan offers fixed loan terms between 1 - 5 years.

Fees & Costs

Qudos Bank charge a discharge fee of $275, which covers the cost for removing the mortgage that has been registered on the title of your property.
Qudos Bank may also charge you a fixed-rate break cost if you refinance out of Fixed Home Loan or sell your house before the fixed term ends. It can cost thousands of dollars, and the advantages of breaking the fixed loan won't always outweigh the disadvantages.
Selling the property or refinance during the fixed rate term can trigger hefty fees for breaking a fixed rate contract, and fixed rate loans tend to have restrictions on making extra repayments. Before you lock your rate in, you need to be sure that a fixed rate home loan is suitable for your situation.

Borrowing Limits

An LVR of 90% is a high risk, whereas an LVR of 80% or less is considered safe by most lenders. The majority of lenders will require you to pay Lenders Mortgage Insurance (LMI) if you borrow over 80% LVR.

Eligibility

Interest only repayment option is not available with Qudos Bank Fixed Home Loan for buying next home.
Interest only repayment option is not available with Qudos Bank Fixed Home Loan for refinance.

💡 Tip: 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.

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 Qudos Bank or a mortgage broker just to be sure. This information should be used as a guide only.

Other rate options for Fixed Home Loan

Refinance Fixed · Principal & Interest 1 Year · 80% LVR

6.14%

Refinance Fixed · Principal & Interest 1 Year · 90% LVR

6.44%

Refinance Fixed · Principal & Interest 2 Years · 80% LVR

6.04%

Refinance Fixed · Principal & Interest 2 Years · 90% LVR

6.34%

Refinance Fixed · Principal & Interest 3 Years · 80% LVR

5.94%

Refinance Fixed · Principal & Interest 3 Years · 90% LVR

6.24%

Refinance Fixed · Principal & Interest 4 Years · 80% LVR

6.14%

Refinance Fixed · Principal & Interest 4 Years · 90% LVR

6.44%

Refinance Fixed · Principal & Interest 5 Years · 80% LVR

6.14%

Refinance Fixed · Principal & Interest 5 Years · 90% LVR

6.44%

Investment Fixed · Interest Only 1 Year · 80% LVR

7.04%

Investment Fixed · Interest Only 1 Year · 90% LVR

7.34%

Frequently Asked Questions

Are there costs when I exit or refinance to another lender?

Qudos Bank charge a discharge fee of $275, which covers the cost for removing the mortgage that has been registered on the title of your property. Qudos Bank may also charge you a fixed-rate break cost if you refinance out of Fixed Home Loan or sell your house before the fixed term ends. It can cost thousands of dollars, and the advantages of breaking the fixed loan won't always outweigh the disadvantages.

Does Qudos Bank Fixed Home Loan comes with an offset account?

No, Fixed Home Loan does not come with an offset account. Generally speaking, offset accounts is more common with variable rate home loans than fixed loan options.

What are the costs to apply for Qudos Bank Fixed Home Loan?

There is no upfront costs to apply for Fixed Home Loan Application fee: $0
Valuation fee: $0
Settlement fee: $0

Fees

Application fee

Important Information

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 Qudos Bank or a mortgage broker just to be sure. This information should be used as a guide only.