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Pacific Mortgage Group Line of Credit

Features

The most attractive feature of the Pacific Mortgage Group Line of Credit Home Loan is the low variable interest rate available to both owner-occupiers and investors, which isn’t generally typical of many other line of credit loans on the market since they usually have a high rate.

This loan works by giving you access to a line of credit drawn from the equity in your home that is used as the security so you can fund things like home renovations, debt consolidation, a deposit for an investment property, a holiday or any other cause accepted by Pacific Mortgage Group.

Similar to a credit card, Pacific Mortgage Group will approve a credit limit and only charge interest on the funds you use.

In addition to having to pay $0 in upfront or ongoing fees, you can make fee-free transactions through an ATM card, EFTPOS, cheque book and through phone and internet banking.

Your payments can be made by directly crediting your salary or through direct debit, or you can choose to make your payments monthly, fortnightly or weekly.

Depending on the amount of equity in your home, this line of credit loan lets you borrow up to a certain amount dependent upon the percentage of your property’s value that you’re borrowing, however you must meet the minimum loan term length.

Who is the Pacific Mortgage Group Line of Credit good for?

As line of credit loans essentially give you access to a large lump sum of accessible cash, this loan is best suited to disciplined borrowers, especially since your home is secured against the loan. Having no upfront fees and a low rate makes this loan appealing to all types of borrowers, however the lack of extra features is something to consider should there be certain features you’re looking for.

Review - What RateCity says

Generally speaking, line of credit home loans attract higher interest rates than traditional home loan products, however, the Pacific Mortgage Group Line of Credit Home Loan breaks this standard with a very low variable interest rate, without this cost hidden in upfront and ongoing fees.

Although, there is a discharge fee, a lack of extra features and no options to handle your home loan other than online, so it would be good to make a list of everything you’re looking for in a line of credit loan and see if you can check off all your boxes with what’s provided by the Line of Credit Home Loan from Pacific Mortgage Group to see if this loan meets all your needs.

Pacific Mortgage Group Line of Credit Options

The Pacific Mortgage Group Line of Credit Home Loan uses the equity in your home to give you access to additional funds. There’s an equity loan to suit different borrowing budgets so explore the following links to find a loan that suits you.

Variable Rates from

3.84%

Advertised rate

3.84%

Comparison rate
Pros
  • Access property’s equity through a line of credit.
  • Very low variable interest rate.
  • No upfront or ongoing fees.
Cons
  • Discharge fee.
  • Minimum loan term.
  • Online lender with no branch locations.
Eligibility

Must be over 18 years old.

Must be able to provide a list of assets and liabilities.

Must be able to provide proof of income.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Line of Credit Loans
  • Investors
Fees
  • Estimated upfront fees: $0
  • Discharge fees: $295
  • Ongoing fees: $0

A huge advantage offered by the Pacific Mortgage Group Line of Credit Home Loan is that you will be charged $0 in upfront and ongoing fees. There is a discharge fee that you must pay when you complete your loan, though it is moderate.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
About Pacific Mortgage Group

Since 2000, Pacific Mortgage Group has been providing Australians with access to award-winning mortgages. As an online-only lender, Pacific Mortgage Group is able to save its customers thousands of dollars through lower fees and interest rates since there’s fewer overhead costs as opposed to other lenders and banks with branch networks.

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