Mortgage House Executive Saver Home Loan - Refinance - Variable

Ratings

★ ★ ★ ★ ★ (1 reviews)

About Executive Saver Home Loan

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

A 100% offset account is an account linked to your home loan where you can park your savings and spare cash to reduce the interest you pay. Then, when interest is calculated on your home loan, the balance in your offset account is deducted from the loan amount owing, and interest is only charged on what remains.
Mortgage House charge a discharge fee of $500, which covers the cost for removing the mortgage that has been registered on the title of your property.
There is upfront costs of $1440 to apply for Executive Saver Home Loan, with no ongoing account keeping fees.

Borrowing Limits

An LVR of 95% is a high risk, whereas an LVR of 80% or less is considered safe by most lenders. The majority of lenders will require you to pay Lenders Mortgage Insurance (LMI) if you borrow over 80% LVR.

Eligibility

Interest only repayment option is not available with Mortgage House Executive Saver Home Loan for buying next home.
Interest only repayment option is not available with Mortgage House Executive Saver Home Loan for refinance.

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 Mortgage House or a mortgage broker just to be sure. This information should be used as a guide only.

Other rate options for Executive Saver Home Loan

Refinance Variable · Principal & Interest 0 Years · 60% LVR

5.89%

Refinance Variable · Principal & Interest 0 Years · 80% LVR

6.04%

Refinance Variable · Principal & Interest 0 Years · 90% LVR

6.69%

Refinance Variable · Principal & Interest 0 Years · 95% LVR

7.54%

Owner Occupied Variable · Principal & Interest 0 Years · 60% LVR

5.89%

Owner Occupied Variable · Principal & Interest 0 Years · 80% LVR

6.04%

Owner Occupied Variable · Principal & Interest 0 Years · 90% LVR

6.69%

Owner Occupied Variable · Principal & Interest 0 Years · 95% LVR

7.19%

First Home Buyer Variable · Principal & Interest 0 Years · 60% LVR

5.99%

First Home Buyer Variable · Principal & Interest 0 Years · 80% LVR

6.04%

First Home Buyer Variable · Principal & Interest 0 Years · 90% LVR

7.34%

First Home Buyer Variable · Principal & Interest 0 Years · 95% LVR

7.54%

Frequently Asked Questions

Are there costs when I exit or refinance to another lender?

Mortgage House charge a discharge fee of $500, which covers the cost for removing the mortgage that has been registered on the title of your property.

Does Mortgage House Executive Saver Home Loan comes with an offset account?

Yes, Executive Saver Home Loan comes with a 100% offset account. A 100% offset account is an account linked to your home loan where you can park your savings and spare cash to reduce the interest you pay. Then, when interest is calculated on your home loan, the balance in your offset account is deducted from the loan amount owing, and interest is only charged on what remains.

What are the costs to apply for Mortgage House Executive Saver Home Loan?

There is upfront costs of $1440 to apply for Executive Saver Home Loan, with no ongoing account keeping fees. Application fee: $600
Settlement fee: $445
Legal fee: $395

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 Mortgage House or a mortgage broker just to be sure. This information should be used as a guide only.