Fixed Rate Home Loans - Westpac - 6 yr fixed Investment |
 |
 |
to select a different loan amount and loan term. Currently: $150,000 over 30 years |
|
| Home Loan Lender |
 |
Westpac Home Loan |
|
| Home Loan Product Name |
6 yr fixed Investment |
| Interest Rate |
7.39% |
Comparison Rate
Estimated |
7.69% |
| Amount |
$150,000 |
| Term |
30 years |
Initial Monthly Payment
Estimated |
$1,037.55 |
Monthly Payment
Estimated |
$1,066.35 |
Total Paid
Estimated |
$385,374 |
| Establishment Fee |
$750.00 |
| Enquire/Apply |
 
|
| Target Market |
A loan to buy construct or refinance residential real estate for investment purposes. (Available to Non- Residents).
,
Can be combined with other eligible loans to form a Combination Investment Property Loan.
,
First mortgage over residential property is required as security.
,
Fixed rate term options for 1,2,3,4,5,6,7,9,10 & 12 year periods. |
| Acceptable Income |
|
| Loan Term |
Fixed rate term options for 1,2,3,4,5,6,7,9,10 & 12 year periods.
,
Maximum overall loan term is 30 years. |
| Loan Size |
Minimum: $15K
,
No maximum. |
| Repayment Type |
Principle and interest
,
Interest only term (up to 10yrs) and/or
,
Interest only in advance repayments (up to 12 months) available on 1-5 Year terms. |
| Repayment Options |
Weekly, fortnightly or monthly. |
| Extra Repayments |
|
| Split Loan Facility |
Available within combination structure. |
| Offset |
Not available. |
| Redraw Facility |
Available. Redraw fee $10 for Fixed Rate Investment Property Loans & Low Doc. Customer may redraw excess funds they have prepaid during the fixed period ,up to a maximum of the prepayment threshold of $15,000 during the fixed period. Redraw not available for company borrowers and where loan has Interest Only in Advance ( IOA ) payment arrangement. |
| LVR |
Australian residences Investment Maximum LVR 100% Loan Product Option available.
,
Investment Maximum LVR 100%
,
Construction Maximum LVR 100%
,
Refinancing Maximum LVR 97%.
,
Loan to Security Ratio (LSR) between 80 and 85% refer to Flyer in Lender Documents LMI Folder.
Fixed Rate Low Doc loans are available on the full range of loan terms (1,2,3,4,5,6,7,9,10 and 12 years) and will incur the same interest rates, fees and charges as our standard fixed rate loans.
,
Available to self-employed borrowers who cannot supply up to date financials.
,
Accounts that break within 3 years must switch into another low doc product until 3 years has lapsed from the original loan start date.
,
Expiring fixed rate low docs that are not re-fixed will automatically roll into a variable rate low doc (Home Loans will roll into a Premium Option Low Doc, and Investment loans into a Variable Rate Investment Property Loan Low Doc).
,
Lenders Mortgage Insurance is required on Low Doc loans for Loan to Valuation Ratios (LVR) above 60%, up to a maximum LVR of 82%.
,
Fixed rate low doc loans are eligible for PAP discounts when they roll into a variable rate low doc at the end of the fixed term.
,
Low Docs are available for construction loans, however not for owner builders.
,
Properties of up to 8ha will now be acceptable security.
,
Minimum loan amount is $25,000 for Low doc loans and maximum term is 30 years.
,
Full valuations are required on all security properties. |
| Fees |
Establishment Fee:$750 ($1,000 for non-residents).
,
Loan Maintenance Fee:$ 8per month
,
$8 per loan if Combination Loan.
,
Progressive Draw Down Fee:$300 (payable once only)
,
Switching Fee::$300 (covers all draws)
,
No fee applies when customer refixes loan or reverts to variable rate at the end of the fixed rate period
,
Switching fee applies if switching during fixed rate period to another fixed rate contract or to a variable rate loan.
,
A prepayment cost plus admin fee may apply if switching prior to fixed term expiry
,
Lock in Fee 0.15% of the Loan Amount
,
Additional Valuation Fees:
,
Independent valuers - for quote contact lender.
,
Deferred Establishment Fee $900 will only be charged if a customer closes their loan with Westpac within 4 years of origination for reasons such as re-financing to another institution, selling their property or early
,
repayment where they request to close their loan.
,
Guarantor Fee $200. |
| Enquire/Apply |
|
| Other Fixed Rate Home Loans |
 |
|
|
|
|
 |
| Other Westpac Home Loan Products |
|
|
|
|
|
|