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Australian Military Bank

Construction Loan

Interest rate

4.28

% p.a

Variable

Comparison Rate*

4.32

% p.a

Maximum LVR
Less than 95%
Real Time Rating™

0.89

/ 5
Monthly Repayment

$1,630

based on $300,000 loan amount for 25 years at 4.28%

Interest rate

4.28

% p.a

Variable

Comparison Rate*

4.32

% p.a

Maximum LVR
Less than 95%
Real Time Rating™

0.89

/ 5
Monthly Repayment

$1,630

based on $300,000 loan amount for 25 years at 4.28%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,630

based on $300,000 loan amount for 25 years at 4.28%

Quick home loan review

For Construction Loan (Amounts < $150k)

These are the benefits of this home loan.

  • No ongoing fees
  • Suitable for low deposits
  • Split account option

These are the drawbacks of this home loan.

  • No redraw and no offset
  • Higher than average interest rate
  • Not available for first home buyers
  • Higher than average upfront fee
  • Discharge fee at end of loan
  • No repayment holidays

Home loan overview

For Construction Loan (Amounts < $150k)

TMD

Details

Maximum LVR

Less than 95%

Total Repayments

Next LVR

Interest rate type

Variable

Borrowing range

Suitable for

Owner Occupiers

Loan term range

0 - 3 years

Principal & interest

Interest only

Applicable states

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

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Unlimited extra repayments

Redraw facility

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

500

Application fee

500

Valuation fee

At Cost

Settlement fee

0

Other upfront fee

0

Ongoing fee

$0

Discharge fee

300

Application method

Online

Phone

Broker

In branch

Specials
  • Cashback $2,500 Refinance cashback

Target Market Determination

Visit Australian Military Bank to view Target Market Determination.

Other Benefits

Loan amount, inclusive of Lenders Mortgage Insurance (LMI) premium, with LVR of up to 95% is available but at different rate.

Other Restrictions

Draw down fee: $65 per drawing

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FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $50k to $150k.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 94.99 percent, which means it requires a minimum deposit of 5.01 percent

What's the maximum length for this loan?

Australian Military Bank allows you to have this loan for a range of 0 to 3 years.

How often can you make repayments?

Australian Military Bank allows you to make repayments to this loan option through one of the following repayment schedules: fortnightly, monthly, weekly.

How much will the upfront fees be for this loan?

While it could change based on your circumstances, RateCity estimates that this loan option comes with $500 worth of upfront fees.

Does this loan come with a redraw facility?

No, this loan doesn't come with a redraw facility.

Where can you apply for this loan?

Australian Military Bank makes it possible to apply for this product online. Apply here.