Qantas Home Loans - First Home Buyer - Variable

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About Home Loans

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.

Unlike in the US, there are no lenders in Australia that offer 20 or 30 year fixed rates for standard residential home loans. QANTAS Home Loans offers fixed loan terms between 1 - 5 years.

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.
QANTAS charge a discharge fee of $325, which covers the cost for removing the mortgage that has been registered on the title of your property.
QANTAS may also charge you a fixed-rate break cost if you refinance out of Home Loans or sell your house before the fixed term ends. It can cost thousands of dollars, and the advantages of breaking the fixed loan won't always outweigh the disadvantages.
Selling the property or refinance during the fixed rate term can trigger hefty fees for breaking a fixed rate contract, and fixed rate loans tend to have restrictions on making extra repayments. Before you lock your rate in, you need to be sure that a fixed rate home loan is suitable for your situation.
There is upfront costs of $840 to apply for Home Loans, with no ongoing account keeping fees.

Borrowing Limits

QANTAS Home Loans does not offer tier pricing for lower LVR. With Home Loans, you can borrow upto $90% LVR.

Eligibility

Interest only repayment option is not available with QANTAS Home Loans for buying next home.
Interest only repayment option is not available with QANTAS Home Loans for first home buyer.
Interest only repayment option is not available with QANTAS Home Loans 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 QANTAS or a mortgage broker just to be sure. This information should be used as a guide only.

Other rate options for Home Loans

Refinance Fixed · Principal & Interest 2 Years · 90% LVR

5.64%

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

6.13%

Investment Fixed · Principal & Interest 3 Years · 90% LVR

6.19%

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

6.34%

Owner Occupied Fixed · Principal & Interest 1 Year · 90% LVR

5.89%

First Home Buyer Fixed · Principal & Interest 2 Years · 90% LVR

5.64%

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

6.13%

Frequently Asked Questions

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

QANTAS charge a discharge fee of $325, which covers the cost for removing the mortgage that has been registered on the title of your property.

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

QANTAS charge a discharge fee of $325, which covers the cost for removing the mortgage that has been registered on the title of your property. QANTAS may also charge you a fixed-rate break cost if you refinance out of Home Loans or sell your house before the fixed term ends. It can cost thousands of dollars, and the advantages of breaking the fixed loan won't always outweigh the disadvantages.

Does QANTAS Home Loans comes with an offset account?

Yes, Home Loans 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 QANTAS Home Loans?

There is upfront costs of $840 to apply for Home Loans, with no ongoing account keeping fees. Application fee: $345
Settlement fee: $345
Document fee: $150

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