| Home Loan Lender |
 |
The Rock Building Society Home Loan |
|
| Home Loan Product Name |
3 yr fixed Equity Line |
| Interest Rate |
6.99% |
Comparison Rate
Estimated |
7.79% |
| Amount |
$150,000 |
| Term |
30 years |
Initial Monthly Payment
Estimated |
$996.95 |
Monthly Payment
Estimated |
$1,081.58 |
Total Paid
Estimated |
$391,380 |
| Establishment Fee |
$600.00 |
| Enquire/Apply |
 
|
| Target Market |
The line of Credit facility gives the client direct access to the equity in their home via Cheque book, ATM's, EFTPOS, and other direct entry facilities such as I Bank (Internet Banking). |
| Acceptable Income |
PAYG and Self Employed applicants, Company and Trust. |
| Loan Term |
Maximum: 30 years.
,
Fixed Rate Period: 1,2, 3 and 5 years avaialbe. |
| Loan Size |
Minimum: $50K.
,
Maximum $1M pers security
,
Maximum: $3.5M total borrowings |
| Repayment Type |
Interest Only.
,
10 years interest only then converting to 20 years P&I. |
| Repayment Options |
Weekly, Fortnightly or Monthly payments following conversion to P&I
,
Interest Only repayments until expiration of Interest Only Period. |
| Extra Repayments |
|
| Split Loan Facility |
Yes. |
| Offset |
Not applicable. |
| Redraw Facility |
Not Required. |
| LVR |
Owner Occupied & Construction Maximum LVR 80%.
,
Residential Investment Maximum LVR 80%.
,
Refinance Maximum LVR 80%. |
| Fees |
Application Fee $600 (includes the valuation of one security property)
,
Additional Valuation Fee $275. (To the value of $1 million the Valuation Fee will be added to the Application Fee).
,
Progress Inspection Fee $125. This fee is charged for each of the first and final builders payments
,
Release Fee:$380.
,
Switch Fee:$250.
,
Monthly Account Keeping Fee $12 per month
,
Variation Fee:$275.
,
Line of Credit Product - can be accessed by cheque book and "cash card". A fee applies to each debit transaction. Transfers to accounts at another financial Institution using Bank or bill payments using Bay (through Rock Direct) will be fee free.
,
All Deferred Establishment Fees:
,
Year 1 or Year 2 minimum $1,500 or 0.25% (whichever is greater).
,
Year 3 minimum $1,200 or 0.20% (whichever is greater).
,
Year 4 minimum $900 or 0.15% (whichever is greater).
,
(Calculated on the approved loan amount).
,
Plus deferred LMI if original LVR was less than or equal to 80% or $500K. |
| Enquire/Apply |
|