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A variable rate loan with a very competitive rate. Unlike other lenders offering discounted interest rates, the HOMESTAR™ Stand Variable Rate homeloan is fully featured and includes unlimited free redraws, salary crediting and flexible repayment options.
This Advantage Rate Loan could be the perfect loan if you are:
• A first time home buyer
• A person who wants to upgrade their existing home
• Looking for a better home loan deal or consolidating expensive debt
• An investor looking for a competitive variable rate loan.
Features include:
| GENERAL |
Owner-occupied or investment purchases, construction, refinancing existing residential or investment or business
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| Loan size |
From 30,000 to $2,500,000 per security property.
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| Term |
10 to 30 years.
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| Repayments |
Principal and Interest or interest only for 2,3,5,10 years and Line of Credit 15 years.
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| Frequency |
Weekly,fortnightly or monthly
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| Extra repayments |
Extra repayments can be made on variable loans at any time.
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| Convert to fixed rate |
All or part of the loan can be converted to a fixed rate at any time.
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| Split loan facility |
Up to 4 separate splits per facility. Transfer funds between splits using inter-account payment facility.
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| Re-draw facility |
Unlimited re-draw at no cost. (minimum re-draw $50 when using Loan Services line or Loan Services Net for all variable rate loans).
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| Pay anyone |
Payment can be made to any bank, building society or credit union directly from your loan using a valid BSB and account number (excludes credit cards). Maximum of $5,000 per day. Not available during fixed rate period.
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| Max loan to value ratio (LVR) |
80% LVR for all loans $1,000,000 to a maximum of $2,500,000;
85% LVR for all loans up to $1,000,000;
90% LVR for all loans up to $750,000;
95% LVR for investment loans up to $300,000;
95% LVR for owner occupied loans up to $650,000;
100% LVR for owner occupied loans up to $500,000 (conditions apply).
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| FEES |
Please refer to fees that don't tease.
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| OTHER CONDITIONS |
All repayents are to be made by electronic direct debit or direct salary credit.
LendersMortgage Insurance is required for all loans.The premium is payable by the borrower if the amount borrowed is greater than 80% of the value of the property (conditions apply);
Break costs will apply to fixed rate loans if fixed rate period is being broken.
Registered first mortgage over residential property as security on all loans.
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