- Home
- Home Loans
- Australian Military Bank
- Construction Loan
Construction Loan
- Owner Occupied
- Variable
- 5% min deposit
- Interest Only
Interest rate p.a.
6.78%
Comparison rate* p.a.
7.42%
Construction Loan
- Owner Occupied
- Variable
- 5% min deposit
- Interest Only
Interest rate p.a.
6.78%
Comparison rate* p.a.
7.42%
Australian Military Bank Variable Rate Home Loan overview
For Construction Loan
Principal & Interest (P&I)
Loan type
Loan to value ratio
Interest rate
Comparison rate
Interest only
Loan type
Loan to value ratio
Interest rate
Comparison rate
Details
Maximum LVR
95%
Total repayments
Interest rate type
Variable
Borrowing range
$150k - $100m
Suitable for
Owner Occupiers
Loan term range
0 - 2 years
Repayment type
Interest only
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Fortnightly, Monthly, Weekly
Target Market Determination
Visit Australian Military Bank Ltd to view Target Market Determination.
Features
Extra repayments
Unlimited
Redraw facility
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
Loan amount, inclusive of Lenders Mortgage Insurance (LMI) premium, with LVR of up to 95% is available but at different rate.
Fees
Total estimated upfront fees
$450
Application fee
$450
Legal fee
$0
Valuation fee
$0
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$120
Other Restrictions
Draw down fee: $65 per drawing
Pros and Cons
For Construction Loan
Benefits
- No ongoing fees
- Suitable for low deposits
- Parents can sign as guarantor
- Split account option
Drawbacks
- No redraw and no offset
- Higher than average interest rate
- Higher than average upfront fee
- Discharge fee at end of loan
- No repayment holidays
