Regional Australia Bank

Mortgage Offset Home Loan

Investment loan
Variable
90% LVR

7.29%

Interest rate

7.32%

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.

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.

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.

Variable
Paying pricinpal and interest
Regional Australia Bank logo

Regional Australia Bank

Variable
Paying interest only
Regional Australia Bank logo

Regional Australia Bank

Q&As

Does Regional Australia Bank Mortgage Offset Home Loan comes with an offset account?

Yes, Mortgage Offset 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 Regional Australia Bank Mortgage Offset Home Loan?

There is upfront costs of $250 to apply for Mortgage Offset Home Loan, with no ongoing account keeping fees.

  • Document fee: $250

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

Regional Australia Bank charge a discharge fee of $250, 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 Regional Australia Bank or a mortgage broker just to be sure. This information should be used as a guide only.

Contact a mortgage broker

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