South West Slopes Credit Union
Rate Home Loan
6.10%
Interest rate
6.10%
Comparison rate
Ratings
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LVR options
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.
South West Slopes Credit Union Rate Home Loan does not offer tier pricing for lower LVR. With Rate Home Loan, you can borrow upto $90% LVR.
90%
LVR
South West Slopes Credit Union
Repayment options
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.
Tips: 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.
Paying pricinpal and interest
South West Slopes Credit Union
Paying interest only
South West Slopes Credit Union
Q&As
Does South West Slopes Credit Union Rate Home Loan comes with an offset account?
No, Rate Home Loan does not come with an offset account.
While it does not have the convenient that comes with an offset account, but $Rate Home Loan 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 South West Slopes Credit Union Rate Home Loan?
There is no upfront costs to apply for Rate Home Loan
- Application fee: $0
- Valuation fee: $0
- Settlement fee: $0
Are there costs when I exit or refinance to another lender?
There is no discharge fee for Rate Home Loan. Which is a good news as most lenders charge a discharge fee range anywhere from $150 to $400 when you exit or refinance out.
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 South West Slopes Credit Union or a mortgage broker just to be sure. This information should be used as a guide only.