Variable Rate Home Loans - Heritage - Variable |
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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 |
Variable |
| Interest Rate |
9.38% |
Comparison Rate
Estimated |
9.32% |
| Amount |
$150,000 |
| Term |
30 years |
Monthly Payment
Estimated |
$1,231.84 |
Total Paid
Estimated |
$445,920 |
| Establishment Fee |
$600.00 |
| Enquire/Apply |
 
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| Target Market |
Purchase Owner Occupier.
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Refinance an existing loan.
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Construction, extension or renovation of a residential property.
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Purchase vacant land.
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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. |
| Repayment Options |
Weekly (Monthly /4);Fortnightly (Monthly /2) or Monthly payments. |
| Extra Repayments |
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| Split Loan Facility |
Yes. |
| Offset |
Yes - 100% daily offset (minimum balance of $500). |
| Redraw Facility |
Yes
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Fee <$20,K = $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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Owner Occupied: 90% including LMI
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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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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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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 first year of initial funding:
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Owner Occupied: $800.
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Further Advance Fee $7.50 per $1000 to Max. $600 Min $400.
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Switch Fee $100-$600 depending upon product being switch to.
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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 Additional 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 ( Payout of loan).
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Telegraphic Transfer Fee $0 - $35 Max. |
| Enquire/Apply |
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| Other Variable 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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