Construction Loan ($150k+, LVR < 60%)
- Last updated on 02 Jun 2020
Home Value Home Loan
specialGet a low variable interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.
Home Value Loan
based on $300,000 loan amount for 25 years
- No ongoing fees
- Repayments may decrease if RBA cuts rates
- No redraw and no offset
- Not available for first home buyer
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$150k - $100m
Principal & interest
Loan term range
0 - 3 years
Unlimited extra repayments
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
Loan amount, inclusive of Lenders Mortgage Insurance (LMI) premium, with LVR of up to 95% is available but at different rate.
Draw down fee: $65 per drawing
Compare and review home loans with similar features
The Australian Military Bank was founded in 1959 and is Australia’s longest serving defence financial organisation with over $1 billion in total assets. Formerly the Australian Defence Credit Union, it was renamed the Australian Military bank in 2015.
The bank has over 50,000 members and over 30 branches at military bases around Australia. They offer home and personal loans, credit cards, savings accounts, insurance and superannuation, as well as financial planning and advice.
The Australian Military Bank has won numerous awards, including Money Magazine’s Best DIY Savings Account Award in 2016.
Australian Military Bank home loan calculator
Interested in an Australian Military Bank home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Australian Military Bank compares to its competitors. Simply plug in your borrowing amount below.
A construction loan is loan taken out for the purpose of building or substantially renovating a residential property. Under this type of loan, the funds are released in stages when certain milestones in the construction process are reached. Once the building is complete, the loan will revert to a standard principal and interest mortgage.
Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.