Fixed Rate Home Loans - Heritage - 3 yr fixed |
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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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Heritage Home Loan |
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| Home Loan Product Name |
3 yr fixed |
| Interest Rate |
8.75% |
Comparison Rate
Estimated |
9.18% |
| Amount |
$150,000 |
| Term |
30 years |
Initial Monthly Payment
Estimated |
$1,237.28 |
Monthly Payment
Estimated |
$1,232.10 |
Total Paid
Estimated |
$446,100 |
| Establishment Fee |
$600.00 |
| Enquire/Apply |
 
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| Target Market |
To purchase property for Owner Occupier, Investment purposes and Refinance for any worthwhile purpose. Construction, extension or renovation of a residential property. Purchase vacant land. Consolidation. |
| Acceptable Income |
Self Employed, Salary & Wage earners.
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Rental income 75% of gross rental allowable as income (60% high rise, 0% inner city apartments). |
| Loan Term |
Maximum: 30 years. |
| Loan Size |
Minimum: $20K
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Maximum Unlimited (Refer BDM for loans over $750K). |
| Repayment Type |
Principal & Interest. (Interest only for Investment loans).
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Fixed rates: 1,2,3,or 5 years
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Fixed Rate features that separate our products from some of competitors are: 1/ No lock in fee is payable, rate is guaranteed from applicable rate as at formal approval until settlement. 2/ Unlimited additional repayments at anytime without penalty. 3/ Redraw available on all fixed rate products. |
| Repayment Options |
Weekly (Monthly /4); Fortnightly (Monthly /2); or Monthly payments.
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Owner Occupier Principal & Interest.
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Investment Principal & Interest & Fixed Interest Only. (Maximum: 5 years).
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Ability to skip repayments if additional repayments have been made.
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Change of term available.
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Ability to vary repayments. |
| Extra Repayments |
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| Split Loan Facility |
Yes. |
| Offset |
Yes - Partial Offset Account Only. |
| Redraw Facility |
Yes
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Fee <$20K = $20.00.
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Fee > $20K = $20.00 + current title search fee. |
| LVR |
Owner Occupied: 90% including LMI conditions apply
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Construction 90% including LMI
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Vacant Land: 90% including LMI
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Refinance: 90% plus LMI
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Investment 90% including LMI
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Consolidation: 85% plus LMI maximum of 4 debts |
| Fees |
Establishment Fee: $600 which includes First security valuation if required to a maximum amount of $330).
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Additional valuations are $205min. (maybe higher depending upon Property Valuation Figure)
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Construction progress inspection fee $88 each. ($95 in Qld)
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Monthly Administration Fee $5 per month (included in repayments)
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Switch Fee $100-$600 depending upon product being switch to. Investment Interest Only Loans - can not be switched or refixed, application is to be rewritten/renegotiated.
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Deferred Establishment Fee ($0 to $600) if repaid within three years of initial funding., on a pro-rata basis
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Early Repayment Penalty if repaid within three years of initial funding:
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Owner Occupied: $800.
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Investment: 1 months Interest.
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Further Advance Fee $600
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Build Loan Progress Draw Fee - $50 fee payable at each drawdown will be charged at the time of each draw
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Trust / Company Loan $250 additional to the application fee to partially offset solicitors charges where documents are outsourced
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Multiple Securities fee of $100 charged when there is a second or subsequent security for a loan and the security is in the same state
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Additional fee of $150 charged where there is a second or subsequent security for a loan and the security is from a different state
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Settlement Fees on Purchase/Refinance:
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Agent’s Settlement Fee $0-$250 (Varies from State to State)
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Finalisation Fee $200
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Telegraphic Transfer Fee $0 - $35 Maximum.
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Rate Guarantee The fee will be 0.12% of the Basic Loan Amount (excluding funded Application Fee and LMI premium) and is payable up-front prior to loan being approved. |
| Enquire/Apply |
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| Other Fixed Rate Home Loans |
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| Other Heritage 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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