Fixed Rate Home Loans - St George Bank - No Deposit Flexible 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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St George Bank Home Loan |
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| Home Loan Product Name |
No Deposit Flexible 3 yr fixed |
| Interest Rate |
7.39% |
Comparison Rate
Estimated |
7.51% |
| Amount |
$150,000 |
| Term |
30 years |
Initial Monthly Payment
Estimated |
$1,037.55 |
Monthly Payment
Estimated |
$1,029.86 |
Total Paid
Estimated |
$376,158 |
| Establishment Fee |
$750.00 |
| Enquire/Apply |
 
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| Target Market |
The St.George No Deposit Home Loan is now an option for customers who do not meet traditional mortgage insurance savings requirements, but need a flexible home loan to purchase their own home; i.e. newly built or established.
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Refinances available on this product
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Available for Construction Loans Variable Rate, House and Land Packages and Strata Units and Townhouses
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A No Deposit Home Loan customer would be someone who has newly
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graduated from university and is now in stable employment, or perhaps a younger borrower who has not yet had time to establish themselves and save a deposit
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Who has sufficient income to afford to buy a more expensive house but has less than 5% deposit
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Who has a good income but has lost assets in a divorce settlement.
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Who have a deposit but who would prefer to use their own funds for purchases after they move into their new home, such as furniture, or renovations. |
| Acceptable Income |
PAYE employees. Approval to be obtained on an individual basis per application. Investors profile minimum net assets of $100K or at least 20% equity in their own home (minimum value $50K) and minimum income of $50K one borrower. |
| Loan Term |
Owner Occupier Principal and Interest loan term 30 Years Investor P&I oan term 25 years.
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Interest Only maximum 5 years then P & I over 20 years or 25 for Owner Occupier. |
| Loan Size |
Minimum $50K
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Maximum Loan $750K
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Maximum loan $750K. Capital and major regional centre - refer to No Deposit Home Loan Locator for remaining allowable security locations |
| Repayment Type |
Principal & Interest for Owner Occupier & Investment
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Owner Occupier & Investment - IInterest Based or Principal & Interest
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Fixed option is available upon the completion of the dwelling. |
| Repayment Options |
Weekly Fortnightly Monthly allowed on Principal & Interest Loans.
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Monthly repayments only for Interest Only Loans.
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Interest in advance repayment option for investors with fixed rate loans. |
| Extra Repayments |
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| Split Loan Facility |
Yes available. |
| Offset |
Mortgage Offset Available. (100% offset (Mortgage Equaliser) only available on variable rate loans.) |
| Redraw Facility |
Available on variable rate loans subject to the bank approval. No Minimum redraw amount subject to bank approval. |
| LVR |
Owner Occupied Maximum LVR 100%
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Investment Maximum LVR 100%
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Construction Maximum LVR 100%
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Refinancing Maximum LVR 100%
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Increase to an existing No Deposit Home Loan
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Home Improvements by contract builders only 100%
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No Genuine Savings required (refer to Special Lenders Criteria for information)
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FASTRefi® is a process that allows settlement for refinancing of residential loans to be completed within days of the customer signing the loan documents. For more information on this service contact your broker support centre Mortgage Central on 1300 137 532. |
| Fees |
Establishment Fee $750 includes Legal, Valuation on one property and Admin Fee reduced savings account when nominated for the loan repayment.
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Early Termination Fee 1.75% in first 4 Years
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No minimum redraw amount
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Redraw Fee Electronic $10
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Manual Redraw Fee $50
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Increase Fee $500
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Rate Lock Fee 0.15% of the loan amount or $500 whichever is higher)
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Consent to Subdivision $350
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Substitution of Security $350
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Renegotiation $500
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Discharge of Mortgage Fee $350
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Discharge Settlement Processing Fee $100
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Progress Payment Administration Fee $250
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Progress Payment Final Inspection Fee $102.50
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Arrears Letter Fee $50
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Settlement/Lodgment Fee:$ 100 per loan (Fee displayed as Mortgage Preparation). |
| Enquire/Apply |
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| Other Fixed Rate Home Loans |
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| Other St George 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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