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Line of Credit Home Loans - NAB - Home Equity LOC

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NAB
Comparison Rate 6.36%
Amount $200,000
Term 30 years
Monthly Payment Est. $1,227.53
Total Amount Paid Est. $448,080
Establishment Fee $600.00

6.22%

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Loan Features for NAB - Home Equity LOC
NAB Home Equity Line of Credit (HELOC) is a flexible and cost effective overdraft solution for customers seeking a line of credit (LOC) product.

This loan is suitable for
PAYG SELF EMPLOYED.

Home Loan Loan Term
Reviewed Yearly.

Home Loan Loan Size
Minimum amount $20K
No Maximum.

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Home Loan Repayment Type
Principal & Interest & Interest Only.

Repayment Options
Interest Only Monthly.

Extra Repayments
Can make unlimited repayments. Early Exit Fee applies if facility cancelled within 4 years of settlement date

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Split Loan Facility
Yes maximum of 2 splits for the same property with just 1 Application Fee.

Offset

Redraw Facility
Yes any time over the phone, online or at any of our ATM up to the facility limit.


LVR for Line of Credit Home Loans - NAB - Home Equity LOC

Owner Occupier Maximum LVR 90%
Investment Maximum LVR 90%
Construction Maximum LVR 90%
Refinance Maximum LVR 90% higher LVR refer to Lender
Land Maximum LVR 90%
Debt Consolidation Maximum LVR 90%
Effective 1st May 2009, Broker Star Rating determines Max LVRs applicable for new customers:
4 Star Brokers - Max LVR 95% (LOC Max LVR 80%)
2 & 3 Star Brokers - Max LVR 90%
0 & 1 Star Brokers - Not able to submit new business.

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Fees for Line of Credit Home Loans - NAB - Home Equity LOC

Application Fee $600 - Split - Personal & Investment at no cost
Loan Admin Fee $15 pm
Valuation Fee N/A
Free Transaction Per Month Unlimited ATM, EFTPOS, Cheque
Telephone & Internet Banking
Account Keeping Fee N/A
Legal Fees N/A
Settlement Processing Fee N/A
Increase Fee $600
Early Exit Fee if loan repaid in full within 4 years $900

 
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The comparison rate applies only to $200,000 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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