Athena
Straight Up
Owner Occupied Variable Principal & Interest 0 Years 80% LVR
6.39%
Interest rate
6.35%
Comparison rate
Ratings
★ ★ ★ ★ ★ (1 reviews)
About Straight Up
Key Features
- While it does not have the convenient that comes with an offset account, but $Straight Up comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
Interest only loans have traditionally been tailored to investors so they can reduce their mortgage repayments and maximise their tax benefits and overall return on investment (ROI). However, getting home loan with interest only (IO) has its place and some lenders are willing to consider your application if you can provide valid reasons.
LVR is an acronym for Loan-To-Value Ratio. The LVR is the amount you are borrowing against the property value being used as security, represented as a percentage.
Fees & Costs
- Generally speaking, variable home loans without offset accounts are often called basic or 'no-frills' loans, you get lower account-keeping fees and lower interest rate for your home loan. In some cases a basic home loan can actually be cost efficient than a 100% offset account.
- There is no discharge fee for Straight Up. Which is a good news as most lenders charge a discharge fee range anywhere from $150 to $400 when you exit or refinance out.
Eligibility
- Interest only repayment option is not available with Athena Straight Up for buying next home.
- Interest only repayment option is not available with Athena Straight Up for first home buyer.
- Interest only repayment option is not available with Athena Straight Up for refinance.
💡 Tip: To get approved for an interest only home loan you need to have a strong enough income to afford principal and interest (P&I) repayments once your interest only term expires. Sometimes extending your interest only period can be tough and getting approved for a P&I refinance is a lot easier.
IMPORTANT:Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with Athena or a mortgage broker just to be sure. This information should be used as a guide only.
Other rate options for Straight Up
Refinance
Variable · Principal & Interest
0 Years · 50% LVR
6.24%
Refinance
Variable · Principal & Interest
0 Years · 60% LVR
6.29%
Refinance
Variable · Principal & Interest
0 Years · 70% LVR
6.34%
Refinance
Variable · Principal & Interest
0 Years · 80% LVR
6.39%
Investment
Variable · Interest Only
0 Years · 50% LVR
6.54%
Investment
Variable · Interest Only
0 Years · 60% LVR
6.54%
Investment
Variable · Interest Only
0 Years · 70% LVR
6.59%
Investment
Variable · Interest Only
0 Years · 80% LVR
6.64%
Investment
Variable · Principal & Interest
0 Years · 50% LVR
6.34%
Investment
Variable · Principal & Interest
0 Years · 60% LVR
6.39%
Investment
Variable · Principal & Interest
0 Years · 70% LVR
6.44%
Investment
Variable · Principal & Interest
0 Years · 80% LVR
6.54%
Frequently Asked Questions
Are there costs when I exit or refinance to another lender?
There is no discharge fee for Straight Up. Which is a good news as most lenders charge a discharge fee range anywhere from $150 to $400 when you exit or refinance out.
Does Athena Straight Up comes with an offset account?
No, Straight Up does not come with an offset account. Generally speaking, variable home loans without offset accounts are often called basic or 'no-frills' loans, you get lower account-keeping fees and lower interest rate for your home loan. In some cases a basic home loan can actually be cost efficient than a 100% offset account.
Does Athena Straight Up comes with an offset account?
No, Straight Up does not come with an offset account. While it does not have the convenient that comes with an offset account, but $Straight Up comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
What are the costs to apply for Athena Straight Up?
There is no upfront costs to apply for Straight Up Application fee: $0
Valuation fee: $0
Settlement fee: $0
Fees
- Application fee
Important Information
Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with Athena or a mortgage broker just to be sure. This information should be used as a guide only.