Intro Rate Home Loans - Commonwealth Bank - 12 Month Discounted Variable Rate

This loan is suitable for
PAYG/ Self Employed/Casual/Contractor/Got Income excluding Newstart)

Home Loan Loan Term
Minimum: No minimum
Maximum: 30 years (subject to expected retirement age of applicant), Interest Only Period - 5 years

Home Loan Loan Size
Minimum: $10,000
Maximum: No Maximum

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Home Loan Repayment Type
Principal and Interest and Interest Only
Discount off and varying with the Standard Variable rate, converts to standard variable rate at end of Introductory Period
Discount off the Standard Variable Rate but fixed for 1 year, converts to
standard variable rate at end of introductory Period

Repayment Options
Weekly, fortnightly or monthly repayments
Monthly Only during Interest only period
Early payout
Deferred Establishment Fee $700 applicable if loan paid out within 4 years
Early Repayment Adjustment incurred if 1 year guaranteed repaid with 12 months

Extra Repayments
Additional Repayments of any amount can be made without incurring an Early Repayment Adjustment (ERA).
Interest Only - special payments can be made only - must be made separately to the direct entry ie through B pay or AFT.

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Split Loan Facility
Yes splits available

Offset
Mortgage Interest Saver Account (MISA) - 100% offset

Redraw Facility
Yes - Minimum $500 by electronic request and $1,000 from the branch. No redraw fee.
Redraw available via Internet and Phone Banking and can be linked to ATM Card

LVR for Intro Rate Home Loans - Commonwealth Bank - 12 Month Discounted Variable Rate

Owner Occupier, Investment, Construction Maximum LVR 90% LVR (Max 95% for existing CBA customers who hold a CBA Consumer Finance Product - for atleast 6 months with no arrears or missed payments) plus LMI
External Refinance (from other financial institutes) a maximum LVR 90%
Vacant Land Maximum LVR 90% LVR

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Fees for Intro Rate Home Loans - Commonwealth Bank - 12 Month Discounted Variable Rate

Application Fee: $600 ($300 for each subsequent loan if there is an existing loan).
Off The Plan purchases incur an application fee of $800
Additional Security Fee- $150 for each additional security
Monthly Loan Service Fee: $8
Progress Draw Fee $50.00
Switching Fee: Up to $300 where switching is allowed)
A settlement fee of $150 will apply to all H/L Invest Loans/ Lines of Credit/ where the bank is required to physically attend a settlement and where a new mortgage security to be obtained (Fee displayed as Mortgage Preparation)
Settlement Fee - Discharge: $350
Security Substitution - A security substitution fee of $300 applies where no additional funds are sought. Where additional funds are also sought the standard establishment fee for that product applies
If your customer substitutes new security for the loan, they must pay this fee plus any other applicable Bank fees and Government charge
Other fees and charges are payable
Application for Increase $300
Security Guarantee Fee -$200 (per borrower) applies where a guarantor's) provides security to support the loan. The fee is debited to the loan account (Refer Special Notes Family Equity and Guarantors ’Support Policy)
Deferred Establishment Fee $700 applicable if loan is repaid out within 4 years from the first loan drawing