Unity Bank
First Home Buyer Advantage Plus Home Loan
5.99%
Interest rate
5.99%
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 95% 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.
Interest only repayment option is not available with Unity Bank First Home Buyer Advantage Plus Home Loan for construction loan.
Paying pricinpal and interest
Unity Bank
Q&As
Does Unity Bank First Home Buyer Advantage Plus Home Loan comes with an offset account?
Yes, First Home Buyer Advantage Plus 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 Unity Bank First Home Buyer Advantage Plus Home Loan?
There is no upfront costs to apply for First Home Buyer Advantage Plus Home Loan
- Application fee: $0
- Valuation fee: $0
- Settlement fee: $0
Are there costs when I exit or refinance to another lender?
There is no discharge fee for First Home Buyer Advantage Plus 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 Unity Bank or a mortgage broker just to be sure. This information should be used as a guide only.