ANZ

Fixed Rate Loan

Advertised Rate

7.64

% p.a

Fixed - 7 years

Comparison Rate*

6.35

% p.a

Maximum LVR
80%
Real Time Rating™

1.23

/ 5
Monthly Repayment

$2,244

based on $300,000 loan amount for 25 years at 7.64%

Advertised Rate

7.64

% p.a

Fixed - 7 years

Comparison Rate*

6.35

% p.a

Maximum LVR
80%
Real Time Rating™

1.23

/ 5
Monthly Repayment

$2,244

based on $300,000 loan amount for 25 years at 7.64%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$2,244

based on $300,000 loan amount for 25 years at 7.64%

ANZ home loans are available through brokers who can help find the right loan and manage your application at no charge.

Biren Joshi

5.0
21 Reviews

Get expert advice from a home loans specialist.

Passion to help, experience with numbers, and professionalism are three words I live by. There’s nothing I enjoy more than displaying my passion for a home financing by sharing my experience with my clients as a professional mortgage broker. The experience is backed by an accounting background which helps to service my client with a real understanding of numbers and for investors in the most tax-effective way. I am a Mortgage broker and an accountant and I believe that everyone has the opportunity to invest in property and we want to help them navigate the array of products and services offered to ensure they get the best deal on their finance. I thrive to help home buyers and investors by leveraging my years of experience in finance and accounting. I also help clients to purchase property through SMSF helping them to get finance for SMSF and to grow their super portfolio If you are passionate about property investment or buying Owner Occupied property I am the right person to help you to organize your finances. If you require any assistance please call on 1300 300 759

Response time: in 30 minutes | Our brokers call during business hours between 9.00am to 6.00pm.

Bianca Dacic

5.0
51 Reviews

Get expert advice from a home loans specialist.

Loan-Savvy is committed to helping you find the right financial solution. Whether you are looking to purchase your first home, expand your investment portfolio or refinance your existing mortgage. We are a qualified Finance Brokerage, located in the Caroline Springs area of Victoria. Possessing industry experience, knowledge and contacts, to help you secure the right loan for your circumstance. Loan-Savvy is dedicated to your financial goals and always has your best interest in mind. We will take the time to understand your goals and assist with structuring a loan appropriately inline with your financial goals. We takes the stress out of the process and allow you to focus on the important things in life. Loan-Savvy facilitates all the available options, allowing you to make an informed decision in choosing the correct lending product.

Response time: in 32 minutes | Our brokers call during business hours between 9.00am to 6.00pm.

Hishan Naufal

5.0
15 Reviews

Get expert advice from a home loans specialist.

Mint Financial Solutions are accredited advisors seeking a better financial future for you, your business, and your family. Our objective with these solutions is to help you make smart decisions with your money so you can achieve financial security. We will listen to your concerns and take the time to understand your needs, constraints and values, and work hard to inform you of your options, explain your choices and guide you through the decision-making process. Our Philosophy Mint Financial Solution is dedicated to building a lasting relationship with our clients by developing an understanding of the changing finance needs at different stages of their life. Our experience enables us to change with time, sourcing quality products by means that are convenient to our clients. We engage on behalf of our clients in all aspects concerning their financial security and future. Our Values Mint Financial Solutions is dedicated to giving back to the community through donating both financial aid and resources. We believe that together we can make a difference, and as a result, are committed to our charity foundation.

Response time: in 31 minutes | Our brokers call during business hours between 9.00am to 6.00pm.

Promoted

Quick home loan review

For Fixed Rate Home Loan (Principal and Interest) 7 Years (LVR < 80%)

These are the benefts of this home loan.

    These are the drawbacks of this home loan.

    • Limited extra repayments
    • No redraw and no offset
    • Higher than average interest rate
    • Loan reverts to higher rate after fixed period
    • Not available for first home buyers
    • Ongoing fee
    • Higher than average upfront fee
    • Discharge fee at end of loan
    • No repayment holidays

    Home loan overview

    For Fixed Rate Home Loan (Principal and Interest) 7 Years (LVR < 80%)

    Details

    Maximum LVR

    80%

    Total Repayments

    Interest rate type

    Fixed - 7 years

    Borrowing range

    Suitable for

    Owner Occupiers

    Loan term range

    1 - 30 years

    Principal & interest

    Interest only

    Applicable states

    ACT, NSW, NT, QLD, SA, TAS, VIC, WA

    Make repayments

    Fortnightly, Monthly, Weekly

    Features

    Extra repayments

    Yes - limited to $5000 per year

    Redraw facility

    Split interest facility

    Loan portable

    Repayment holiday available

    Allow guarantors

    Available for first home buyers

    Fees

    Total estimated upfront fees

    $910

    Application fee

    $600

    Valuation fee

    $150

    Settlement fee

    $160

    Other upfront fee

    $0

    Ongoing fee

    $10 monthly

    Discharge fee

    $160

    Application method

    Online

    Phone

    In branch

    Other Restrictions

    Only 1 year fixed has offset account

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    FAQs

    When does Commonwealth Bank charge an early exit fee?

    When you take out a fixed interest home loan with the Commonwealth Bank, you’re able to lock the interest for a particular period. If the rates change during this period, your repayments remain unchanged. If you break the loan during the fixed interest period, you’ll have to pay the Commonwealth Bank home loan early exit fee and an administrative fee.

    The Early Repayment Adjustment (ERA) and Administrative fees are applicable in the following instances:

    • If you switch your loan from fixed interest to variable rate
    • When you apply for a top-up home loan
    • If you repay over and above the annual threshold limit, which is $10,000 per year during the fixed interest period
    • When you prepay the entire outstanding loan balance before the end of the fixed interest duration.

    The fee calculation depends on the interest rates, the amount you’ve repaid and the loan size. You can contact the lender to understand more about what you may have to pay. 

    When do mortgage payments start after settlement?

    Generally speaking, your first mortgage payment falls due one month after the settlement date. However, this may vary based on your mortgage terms. You can check the exact date by contacting your lender.

    Usually your settlement agent will meet the seller’s representatives to exchange documents at an agreed place and time. The balance purchase price is paid to the seller. The lender will register a mortgage against your title and give you the funds to purchase the new home.

    Once the settlement process is complete, the lender allows you to draw down the loan. The loan amount is debited from your loan account. As soon as the settlement paperwork is sorted, you can collect the keys to your new home and work your way through the moving-in checklist.

    Cash or mortgage – which is more suitable to buy an investment property?

    Deciding whether to buy an investment property with cash or a mortgage is a matter or personal choice and will often depend on your financial situation. Using cash may seem logical if you have the money in reserve and it can allow you to later use the equity in your home. However, there may be other factors to think about, such as whether there are other debts to pay down and whether it will tie up all of your spare cash. Again, it’s a personal choice and may be worth seeking personal advice.

    A mortgage is a popular option for people who don’t have enough cash in the bank to pay for an investment property. Sometimes when you take out a mortgage you can offset your loan interest against the rental income you may earn. The rental income can also help to pay down the loan.

    Why does Westpac charge an early termination fee for home loans?

    The Westpac home loan early termination fee or break cost is applicable if you have a fixed rate home loan and repay part of or the whole outstanding amount before the fixed period ends. If you’re switching between products before the fixed period ends, you’ll pay a switching break cost and an administrative fee. 

    The Westpac home loan early termination fee may not apply if you repay an amount below the prepayment threshold. The prepayment threshold is the amount Westpac allows you to repay during the fixed period outside your regular repayments.

    Westpac charges this fee because when you take out a home loan, the bank borrows the funds with wholesale rates available to banks and lenders. Westpac will then work out your interest rate based on you making regular repayments for a fixed period. If you repay before this period ends, the lender may incur a loss if there is any change in the wholesale rate of interest.

    What are the features of home loans for expats from Westpac?

    If you’re an Australian citizen living and working abroad, you can borrow to buy a property in Australia. With a Westpac non-resident home loan, you can borrow up to 80 per cent of the property value to purchase a property whilst living overseas. The minimum loan amount for these loans is $25,000, with a maximum loan term of 30 years.

    The interest rates and other fees for Westpac non-resident home loans are the same as regular home loans offered to borrowers living in Australia. You’ll have to submit proof of income, six-month bank statements, an employment letter, and your last two payslips. You may also be required to submit a copy of your passport and visa that shows you’re allowed to live and work abroad.

    How long does ANZ take to approve a home loan?

    The process of applying for a home loan usually stays the same across all lenders. On the other hand, the time it takes for a lender to approve the home loan differs from lender to lender. When it comes to ANZ, it takes anywhere between 15 to 18 business days to approve a home loan from the day of the application to approval. This timeframe is highly dependent on the credibility and availability of your documentation. You can apply for an ANZ home loan in two ways; a Quick Start home loan application or a full online application.

    If you opt for the Quick Start home loan option, you’ll need to fill out a form with basic details. During this stage, you don’t need to add any supporting information. An ANZ representative will then call you within 48 hours. The representative will help take your application forward, including assessing all relevant information, documentation and conducting a credit check.

    You can also submit your entire home loan application with ANZ online by filling out a comprehensive form with all the information and documentation needed.

    Once ANZ has conducted the preliminary checks, you’ll be informed of the pre-approved amount they’re willing to offer. Based on this amount, you can set a budget for your property search and make sure you stay inside your budget. Pre-approval will last for three months but can be extended by applying with ANZ if you don’t find a property. But it’s best to find a property as soon as possible as ANZ may decide to change the amount if your financial situation changes.

    After you find a property and have your offer accepted, ANZ may send an assessor to the property to verify it’s value. If everything is per their terms and conditions, ANZ will finalise your home loan’s approval and release the funds.

    Where can I get all the information about an ANZ first home buyer’s loan?

    As a first home buyer, you may require help and hand-holding, and as such ANZ has the buying your first home section on its website full of important information. ANZ also has a form in this section you can fill out to get a free consultation from an ANZ First Home Coach and create your own plan for buying your first home. This coach will help you understand where your current income is being spent and plan for your home loan repayments. You’ll get a clear picture of the costs involved in purchasing a property and how to budget or save for these costs. The coach will help you understand different deposit options and manage your accounts to enhance your savings.

    There are three types of ANZ first home loans - Standard Variable, Fixed, and Equity Manager. The features, interest rates, and terms for each are different, and you can compare them here.

    When they apply for an ANZ home loan, first home buyers can also get guidance on applying for the First Home Owner Grant (FHOG). This is a one-off government grant that may be available to you when you’re buying your first home. The eligibility criteria for FHOG differs between the different states and territories, which is why it’s helpful to have expert advice when applying.

    Can I apply for an ANZ non-resident home loan? 

    You may be eligible to apply for an ANZ non-resident home loan only if you meet the following two conditions:

    1. You hold a Temporary Skill Shortage (TSS) visa or its predecessor, the Temporary Skilled Work (subclass 457) visa.
    2. Your job is included in the Australian government’s Medium and Long Term Strategic Skills List. 

    However, non-resident home loan applications may need Foreign Investment Review Board (FIRB) approval in addition to meeting ANZ’s Mortgage Credit Requirements. Also, they may not be eligible for loans that require paying for Lender’s Mortgage Insurance (LMI). As a result, you may not be able to borrow more than 80 per cent of your home’s value. However, you can apply as a co-borrower with your spouse if they are a citizen of either Australia or New Zealand, or are a permanent resident.

    How can I get ANZ home loan pre-approval?

    Shopping for a new home is an exciting experience and getting a pre-approval on the loan may give you the peace of mind that you are looking at properties within your budget. 

    At the time of applying for the ANZ Bank home loan pre-approval, you will be required to provide proof of employment and income, along with records of your savings and debts.

    An ANZ home loan pre-approval time frame is usually up to three months. However, being pre-approved doesn’t necessarily mean you will get your home loan. Other factors could lead to your home loan application being rejected, even with a prior pre-approval. Some factors include the property evaluation not meeting the bank’s criteria or a change in your financial circumstances.

    You can make an application for ANZ home loan pre-approval online or call on 1800100641 Mon-Fri 8.00 am to 8.00 pm (AEST).

    How does ANZ calculate early repayment costs?

    If you have a fixed interest home loan, you’ll pay ANZ home loan early exit fees for partial or full repayment of the loan amount before the end of the fixed interest rate duration. These fees are also payable if you switch to another variable or fixed-rate loan.

    The ANZ mortgage early exit fees can vary and you can get an estimate from the lender before you decide to prepay the loan. However, the exact early repayment cost can be determined when you prepay the loan.

    The early exit fees are calculated after considering factors like the prepayment amount, the period left before the fixed-rate duration ends, and the change in the market rates since the beginning of the fixed-rate period. The early exit fees may not be charged if you’re paying off a smaller amount. You can check with ANZ to see how much you’ll have to pay.

    What is the ANZ home loan settlement process?

    Settlement is the procedure for the official transfer of ownership between the seller and buyer. It’s often done without the seller or buyers input but between both parties’ the financial and legal representatives.

    Here is how the ANZ home loan settlement process works:

    1. The solicitor or conveyancer prepares the Transfer of Land document at least two weeks before the settlement date.
    2. The signed document is registered at the state or territory land registry office.
    3. Your solicitor or conveyancer will connect with the ANZ home loan settlement contact and the seller’s solicitor or conveyancer to finalise the date, time, and place of settlement.
    4. You must deposit any applicable amount into your ANZ account three days before the settlement date.
    5. After the settlement is completed, your solicitor or conveyancer will send you a Statement of Adjustment confirming the disbursal of funds from your home loan amongst the involved parties.

    Do the big four banks have guarantor home loans?

    Yes, ANZ, Commonwealth Bank, NAB and Westpac all offer guarantor home loans. These mortgages are also offered by many other banks, credit unions and building societies.

    How to apply for ANZ home loan during maternity leave?

    Qualifying for an ANZ home loan while you’re on maternity leave may require some research.

    Much like other home loan applications, you'll need to be able to show the lenders that you’ll be able to pay the mortgage instalments on time, even during maternity leave, which can improve  chances of your home loan being approved. Your chances improve if you have savings, home equity, or if you receive any government-related benefits.

    You’ll likely need  to provide no less than three payslips you received before the start of your maternity leave and a letter from your employer, with the letter stating the maternity leave terms such as the date on which you’ll return to work and the kind of employment (full-time, part-time, or casual) when you resume.

    Your lender will likely consider the tenure of your maternity leave while assessing your loan application. Lenders also prefer if you are paid while on maternity leave; however, you may receive only half your salary, so the lender may not consider your regular income to determine the loan amount.

    How much deposit do I need for a home loan from ANZ?

    Like other mortgage lenders, ANZ often prefers a home loan deposit of 20 per cent or more of the property value when you’re applying for a home loan. It may be possible to get a home loan with a smaller deposit of 10 per cent or even 5 per cent, but there are a few reasons to consider saving a larger deposit if possible:

    • A larger deposit tells a lender that you’re a great saver, which could help increase the chances of your home loan application getting approved.
    • The more money you pay as a deposit, the less you’ll have to borrow in your home loan. This could mean paying off your loan sooner, and being charged less total interest.
    • If your deposit is less than 20 per cent of the property value, you might incur additional costs, such as Lenders Mortgage Insurance (LMI).

    What happens if I don’t know my monthly repayments?

    Your repayments should appear on your bank statements or your internet banking. If you make weekly or fortnightly repayments, make sure you convert them to monthly calculations.

    How do you determine which home loan rates/products I’m shown?

    When you check your home loan rate, you’ll supply some basic information about your current loan, including the amount owing on your mortgage and your current interest rate.

    We’ll compare this information to the home loan options in the RateCity database and show you which home loan products you may be eligible to apply for.

     

    Why do I need to enter my current mortgage information?

    We use your current mortgage details to calculate the potential savings if you were to change lenders, and also to help us point you to loans that may meet your needs.

    For example – if you live in the house you own, we’ll make sure we show you the owner-occupier rates, which are typically cheaper than investor rates. Or if you have less than 20% equity in your property, then we won’t show you the deals that require a greater amount of equity.

    How does it work? What are the steps involved?

    To check your rate, start by entering your contact details and home loan information at ratecity.com.au. We’ll compare your current home loan to other options in our database, and let you know how much you could save by refinancing.  

    If we can’t beat your current rate, you can claim a $100 gift card by confirming your home loan details with us.*

    How do I find out my current interest rate and how much is owing on my loan?

    Your bank statements and/or your internet banking should show these details. If you are not sure, call your bank or estimate.

    Who can enter?

    Any Australian resident who is over 18 and currently has a personal home loan is eligible for our Home Loan Rate Promise. See terms and conditions.