Line of Credit Home Loans - Commonwealth Bank - Line of Credit Facility #1 |
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to select a different loan amount and loan term. Currently: $150,000 over 30 years |
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| Home Loan Lender |
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Commonwealth Bank Home Loan |
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| Home Loan Product Name |
Line of Credit Facility #1 |
| Interest Rate |
9.38% |
Comparison Rate
Estimated |
9.54% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,248.17 |
Total Paid
Estimated |
$454,200 |
| Establishment Fee |
$600.00 |
| Enquire/Apply |
 
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| Target Market |
This is a premium Line Of Credit loan, it provides an all in one type solution to the customer housing, personal and personal investment needs
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Housing
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Housing Investment
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Personal Investment
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Not for Business or Commercial Purposes
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Note May split Line of Credit loans with any combination of home/investment home loan products |
| Acceptable Income |
PAYG/ Self Employed/Casual/Contractor/Got Income excluding Newstart) note Austudy not applicable |
| Loan Term |
Ongoing is assess over 25 years |
| Loan Size |
Minimum: $20,000 |
| Repayment Type |
Interest-only |
| Repayment Options |
There are no set principal requirements. However interest-only payments and monthly fees and charges as a minimum must be met on a monthly basis or in advance. |
| Extra Repayments |
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| Split Loan Facility |
Split Line of Credit loans with any combination of home/ investment home loan products |
| Offset |
Not applicable |
| Redraw Facility |
Not applicable |
| LVR |
Borrowings permitted up to maximum LVR 95%
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Line of Credit
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Maximum Aggregate Loan Amount Max LVR Security Property location refer to the Master Postcode List |
| Fees |
Application Fee: $600 ($300 for second loan if there is an existing loan)
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For new loans $600 for 2 loans then $300 for each subsequent loan
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Security Fees: $100 for each additional security (excludes guarantees)
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Monthly Loan Service Fee: $12
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Account Service Fee -This fee is charged on the first business day of each month to Line of Credit customers
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Settlement Attendance Fee - $100 this fee is payable when the Bank (or its representative) is required to attend settlement for the purchase of a security property, or for the refinance of a loan with another credit provider
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Settlement Fee - Discharge: $300
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LMI Arrangement Fee - The amount of LMI payable may vary according to individual loans and is based on the loan amount. Note a LMI Arrangement fee, $20.00 will apply
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Other fees and charges are payable.
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Security Substitution Fee - 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
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If your customer substitutes new security for the loan, they must pay this fee plus any other applicable Bank fees and Government charge
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Stamp Duty on the Mortgage
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Calculated on the amount of the loan and payable to the State Government Stamp Duty authority
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NB: If the customer is buying a property, Stamp Duty on the transfer purchase price will also be payable to the State Government.
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Refer the customer to their solicitors as to other costs they might incur.
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Switching Fee -$300 This fee is payable if your customer applies to switch all or part of their home loan or investment home loan to another home loan or investment home loan product.
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It does not include any out-of-pocket expenses which may be payable to a third party e.g. Stamp Duty
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Valuation Fee - This fee is included in the standard establishment fee.
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Valuations - For high value properties, the Bank requires a full valuation to be undertaken by an independent Valuer. This necessitates referral to the Bank’s Chief Valuer to nominate appropriate valuers and negotiate fees. The valuation requires a detailed inspection and comprehensive written report.
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Sydney & Melbourne metro >$2m
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Other >$1m
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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) |
| Enquire/Apply |
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| Other Line of Credit Home Loans |
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| Other Commonwealth Bank Home Loan Products |
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This Comparison Rate applies only to $150,000 with a loan term of 30 years. The loan amount and term will affect the comparison rate calculation. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparsion rate calculation but may influence the cost of the loan.
This rate is to be used as a guide only and we recommend that you confirm it with the lender before acting upon it.
The information provided in this website is a guide only and may not be complete for your purposes. ratesonline.com.au is not licensed to provide investment advice and recommends that you consult an independent financial adviser.
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