RateCity
Wagga Mutual Credit Union has been providing financial services to the community in the region of Wagga Wagga for the past 42 years. The local community credit union returns all benefits to its members through the implementation of better fees and charges, community support and personal service. Wagga Mutual is devoted to ensuring its members receive value for their investments and a flexible product range which includes home loans and personal loans, that is designed to meet their specific needs.
Product Details
- Company
-
- Repayments
-
$1,733.6
monthly - Total Repayments
- $521,998.15
- Introductory Rate
-
6.79%
5 years fixed - Advertised Rate
- 6.84%
- Comparison Rate
- 6.87%
- Rate Type
-
Fixed
(5 years) - Ongoing Fees
-
$0
Monthly - Application Fees
- $445
- Max LVR
- 95%
- Break Fees
- N/A
Product Features
Split Loan Option y
This home loan feature offers the ability to have a portion of the loan charged at a fixed rate of interest and the balance attracts a variable rate of interest (eg 30% fixed and 70% variable)
Additional Repayments y
Regular additional payments allowed as in weekly or fortnightly
Lump Sum Repayments y
Additional bulk repayment allowed, usually on an ad hoc basis
Construction Facility y
Is this loan available for construction purposes?
Mortgage Portability y
A mortgage that allows you to release one home and substitute another using the same documentation, usually to reduce stamp duty costs.
Progressive Drawdown y
The interest is charged only on the amount that is progressively drawn
Redraw Facility y
A redraw facility gives you the flexibility to put more money towards the loan when you have cash available, whilst knowing you can access your extra repayments later on if you wish to.
First Home Buyers Only n
Product is restricted to First Home Buyers!
Mortgage Offset Account n
Does this loan allow for a partial or full offset deposit account facility?
100% Mortgage Offset n
Does this loan allow for full offset?
Introductory Rate n
Mortgages with an introductory rate usually offer a discounted interest rate for an introductory period. Be sure to check what the revert rate is so you don't get stung by an unexpected interest rate rise.
Reverse Mortgage n
Reverse mortgages are typically available to seniors who convert the equity from their home into cash. The money obtained through a reverse mortgage is usually used to provide people with financial security in their retirement years.
Line of Credit n
This type of loan can be like an overdraft facility that is secured against your existing property, where interest is charged only on what you have used and is charged to your account on a monthly basis.
Low Doc n
Low doc loans and are a type of mortgage that is available for borrowers who cannot prove their income and cannot provide all of the regular paperwork required for standard home loans such as tax returns and pay slips.
