Fixed Rate Home Loans - Home Loans Ltd - 3 yr fixed Hassle Free 60%<80% |
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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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Home Loans Ltd Home Loan |
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| Home Loan Product Name |
3 yr fixed Hassle Free 60%<80% |
| Interest Rate |
10.04% |
Comparison Rate
Estimated |
9.58% |
| Amount |
$150,000 |
| Term |
30 years |
Initial Monthly Payment
Estimated |
$1,131.12 |
Monthly Payment
Estimated |
$1,232.67 |
Total Paid
Estimated |
$440,707 |
| Establishment Fee |
$499.00 |
| Enquire/Apply |
 
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| Target Market |
The Hassle Free Home Loan is specifically designed for those who don’t meet the usual lending requirements. You are not required to provide supporting evidence of income such as pay slips, tax returns etc. which reduces the amount of paperwork you are required to complete. This is ideal for self-employed and PAYG borrowers.
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The Hassle Free Home Loan also has all the features including redraw, choice of repayment frequency, and the ability to make extra repayments at any time. It also incorporates 100% Offset facility and Go Between loan.
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Standard residential loan purposes such as: Purchase or refinance an owner-occupied or investment property, debt consolidation, equity for investment or personal purposes, loans for business purposes up to 20% of the loan amount and Go Between loans. |
| Acceptable Income |
One borrower must be self-employed and operating in current business for a minimum of 2 years (ABN and GST registration to apply where applicable). Capacity to service reliant on income declaration form.
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PAYG income borrowers must have been employed with their current employer for a minimum of 6 months or minimum 2 years in the same industry. PAYG applicants will continue to declare the components of their income such as bonuses, commission,rental payments, investments, etc. However, in addition to the income declaration, standard fully verified steps to verify income will need to be taken as per lending guidelines: Any variations or exclusions, please contact your BDM. |
| Loan Term |
Principal & Interest: 5-30 years
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Interest Only: 1-10 years |
| Loan Size |
Minimum: $10K
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Maximum:
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up to 80% LVR: $1M
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up to 60% LVR: $2M |
| Repayment Type |
Principal & Interest: 5-30 years
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Interest Only: 1-10 years |
| Repayment Options |
Weekly, fortnightly or monthly. |
| Extra Repayments |
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| Split Loan Facility |
Available. |
| Offset |
100% Offset available:
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100% Offset facility available.
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Minimum account balance: $0 (opening and operating)
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Maximum account balance: No maximum. However the customer receives no benefit (or interest) on any offset balance that exceeds the loan balance.
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Repayments must be debited from the offset balance
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Interest and statements: Interest is calculated daily. Statements are issued monthly
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Transactions fees: Borrower receives $20 worth of free transactions p/m, then fees apply
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Go Between Loan available.
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Minimum loan amount: $40,000
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Maximum loan amount: No maximum
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Maximum LVR: 80%
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Repayments: For established property, you are not required to make any repayments for the first six months or until the sale of your existing property (whichever occurs first). For construction, you are not required to make repayments for the first 12 months. However you can make regular or one off payments at any time if you choose. The interest repayments during this time are capitalised. |
| Redraw Facility |
Only available during variable period. Free if done via Internet and Telephone banking with minimum redraw of $500. Manual fee $50. For Go Between loans redraw is only available after the initial Go Between period. |
| LVR |
Owner Occupied Maximum LVR 80%
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Investment Maximum LVR 80%
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Construction Maximum LVR N/A
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Refinancing Maximum LVR 80%
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Debt consolidation Maximum LVR 80%
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Self Employed & PAYG LVR 80%. |
| Fees |
Establishment Fee $499 (Application fee includes one standard valuation fee)
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Mortgage Prep Fee $395 ( Legal & Loan Processing Fee & Settlement Fee)
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Valuation Fee Included in Application Fee
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Additional Contract Fee $50
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Ongoing Fee Nil
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Redraw Fee: Nil Fees apply if done via telephone and internet banking. Manual fee: $50
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Split Fee: $100 pre-settlement
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Switch Fee: $250 (Switch from variable to fixed rate)
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Refix Fee: Nil (Refix the fixed rate)
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Deferred Establishment Fee:
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0 -12m = 1.25%; 13-24m = 0.94%; 25-36m = 0.625%; 37-48m =0.31% of approval amount.
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Discount Recovery Break Costs: We recover the amount of interest foregone during an introductory fixed or discount variable rate period if the loan is finalized within the first 3 years of settlement. |
| Enquire/Apply |
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| Other Fixed Rate Home Loans |
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| Other Home Loans Ltd 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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