CUA

Achieve Variable Home Loan (Interest Only) ($250k-$500k)

Advertised Rate

3.05%

Variable

Comparison Rate*

2.69%

Maximum LVR
80%
Real Time Rating™

1.96

/ 5
Monthly Repayment

$1,273

based on $300,000 loan amount for 25 years

Advertised Rate

3.05%

Variable

Comparison Rate*

2.69%

Maximum LVR
80%
Real Time Rating™

1.96

/ 5
Monthly Repayment

$1,273

based on $300,000 loan amount for 25 years

Calculate repayment for CUA product

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,273

based on $300,000 loan amount for 25 years

Based on your details, CUA is available through brokers

Collins Mayaki

4.8
87 Reviews

Get expert advice from a home loan specialist.

Collins is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 31 minutes

Our brokers call during business hours between 9.00am to 6.00pm.

Gali Alon

5.0
13 Reviews

Get expert advice from a home loan specialist.

Gali is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 4 hours

Our brokers call during business hours between 9.00am to 6.00pm.

Glenn Rowan

5.0
29 Reviews

Get expert advice from a home loan specialist.

Glenn is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 33 minutes

Our brokers call during business hours between 9.00am to 6.00pm.

Pros and Cons

Pros and Cons

  • Lower than average interest rate
  • No ongoing fees
  • Extra repayments and redraw facility
  • Free redraw facility
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 80% of the property's value

CUA Features and Fees

CUA Features and Fees

Details

Maximum LVR

80%

Total Repayments

Next LVR

Interest rate type

Variable

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

Monthly

Features

Extra repayments

Unlimited extra repayments

Redraw facility

Redraw fee: $0

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

$835

Application fee

$600

Valuation fee

$0

Settlement fee

$235

Other upfront fee

$0

Ongoing fee

$0

Discharge fee

$500

Application method

Online

Phone

In branch

Specials
  • Cashback Refinance with an eligible CUA Home Loan and enjoy a $2000 pre-paid digital Mastercard.
    $2,000 digital prepaid Mastercard will be issued for new owner occupier or investor refinance home loan applications received by 31/03/2021 and settled by 31/03/2021. Offer not available for switching of existing CUA home loans. Minimum lending of $250,000 and maximum 80% LVR. Equity lines of credit, bridging loans, construction loans and business loans not eligible.

Other Restrictions

You must maintain a minimum balance of $500 in each offset account to obtain an offset benefit. The maximum in your offset accounts that is able to be offset against your Achieve Variable home loan when calculating interest is $15,000.

Pros and Cons

  • Lower than average interest rate
  • No ongoing fees
  • Extra repayments and redraw facility
  • Free redraw facility
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 80% of the property's value

CUA Features and Fees

Details

Maximum LVR

80%

Total Repayments

Next LVR

Interest rate type

Variable

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

Monthly

Features

Extra repayments

Unlimited extra repayments

Redraw facility

Redraw fee: $0

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

$835

Application fee

$600

Valuation fee

$0

Settlement fee

$235

Other upfront fee

$0

Ongoing fee

$0

Discharge fee

$500

Application method

Online

Phone

In branch

Specials
  • Cashback Refinance with an eligible CUA Home Loan and enjoy a $2000 pre-paid digital Mastercard.
    $2,000 digital prepaid Mastercard will be issued for new owner occupier or investor refinance home loan applications received by 31/03/2021 and settled by 31/03/2021. Offer not available for switching of existing CUA home loans. Minimum lending of $250,000 and maximum 80% LVR. Equity lines of credit, bridging loans, construction loans and business loans not eligible.

Other Restrictions

You must maintain a minimum balance of $500 in each offset account to obtain an offset benefit. The maximum in your offset accounts that is able to be offset against your Achieve Variable home loan when calculating interest is $15,000.

FAQs

Mortgage Calculator, Property Value

An estimate of how much your desired property is worth. 

What is a redraw fee?

Redraw fees are charged by your lender when you want to take money you have already paid into your mortgage back out. Typically, banks will only allow you to take money out of your loan if you have a redraw facility attached to your loan, and the money you are taking out is part of any additional repayments you’ve made. The average redraw fee is around $19 however there are plenty of lenders who include a number of fee-free redraws a year. Tip: Negative-gearers beware – any money redrawn is often treated as new borrowing for tax purposes, so there may be limits on how you can use it if you want to maximise your tax deduction.

Mortgage Balance

The amount you currently owe your mortgage lender. If you are not sure, enter your best estimate.

How often is your data updated?

We work closely with lenders to get updates as quick as possible, with updates made the same day wherever possible.

Mortgage Calculator, Loan Amount

How much you intend to borrow. 

Monthly Repayment

Your current monthly home loan repayment. To accurately calculate how much you could save, an accurate payment figure is required. If you are not certain, check your bank statement.

Mortgage Calculator, Loan Purpose

This is what you will use the loan for – i.e. investment. 

Can I take a personal loan after a home loan?

Are you struggling to pay the deposit for your dream home? A personal loan can help you pay the deposit. The question that may arise in your mind is can I take a home loan after a personal loan, or can you take a personal loan at the same time as a home loan, as it is. The answer is that, yes, provided you can meet the general eligibility criteria for both a personal loan and a home loan, your application should be approved. Those eligibility criteria may include:

  • Higher-income to show repayment capability for both the loans
  • Clear credit history with no delays in bill payments or defaults on debts
  • Zero or minimal current outstanding debt
  • Some amount of savings
  • Proven rent history will be positively perceived by the lenders

A personal loan after or during a home loan may impact serviceability, however, as the numbers can seriously add up. Every loan you avail of increases your monthly installments and the amount you use to repay the personal loan will be considered to lower the money available for the repayment of your home loan.

As to whether you can get a personal loan after your home loan, the answer is a very likely "yes", though it does come with a caveat: as long as you can show sufficient income to repay both the loans on time, you should be able to get that personal loan approved. A personal loan can also help to improve your credit score showing financial discipline and responsibility, which may benefit you with more favorable terms for your home loan.

What is the average annual percentage rate?

Also known as the comparison rate, or sometimes the ‘true rate’ of a loan, the average annual percentage rate (AAPR) is used to indicate the overall cost of a loan after considering all the fees, charges and other factors, such as introductory offers and honeymoon rates.

The AAPR is calculated based on a standardised loan amount and loan term, and doesn’t include any extra non-standard charges.

What is the ratings scale?

The ratings are between 0 and 5, shown to one decimal point, with 5.0 as the best. The ratings should be used as an easy guide rather than the only thing you consider. For example, a product with a rating of 4.7 may or may not be better suited to your needs than one with a rating of 4.5, but both are probably much better than one with a rating of 1.2.

Do other comparison sites offer the same service?

Real Time RatingsTM is the only online system that ranks the home loan market based on your personal borrowing preferences. Until now, home loans have been rated based on outdated data. Our system is unique because it reacts to changes as soon as we update our database.

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

The right deposit size to get a home loan with an Australian lender will depend on the lender’s eligibility criteria and the value of your property.

Generally, lenders look favourably on applicants who save up a 20 per cent deposit for their property This also means applicants do not have to pay Lenders Mortgage Insurance (LMI). However, you may still be able to obtain a mortgage with a 10 - 15 per cent deposit.  

Keep in mind that NAB is one of the participating lenders for the First Home Loan Deposit Scheme, which allows eligible borrowers to buy a property with as low as a 5 per cent deposit without paying the LMI. The Federal Government guarantees up to 15 per cent of the deposit to help first-timers to become homeowners.

What is appraised value?

An estimation of a property’s value before beginning the mortgage approval process. An appraiser (or valuer) is an expert who estimates the value of a property. The lender generally selects the appraiser or valuer before sanctioning the loan.

What is a valuation and valuation fee?

A valuation is an assessment of what your home is worth, calculated by a professional valuer. A valuation report is typically required whenever a property is bought, sold or refinanced. The valuation fee is paid to cover the cost of preparing a valuation report.

Savings over

Select a number of years to see how much money you can save with different home loans over time.

e.g. To see how much you could save in two years by switching mortgages,  set the slider to 2.

How is the flexibility score calculated?

Points are awarded for different features. More important features get more points. The points are then added up and indexed into a score from 0 to 5.

Mortgage Calculator, Repayments

The money you pay back to your lender at regular intervals. 

How will Real Time Ratings help me find a new home loan?

The home loan market is complex. With almost 4,000 different loans on offer, it’s becoming increasingly difficult to work out which loans work for you.

That’s where Real Time RatingsTM can help. Our system automatically filters out loans that don’t fit your requirements and ranks the remaining loans based on your individual loan requirements and preferences.

Best of all, the ratings are calculated in real time so you know you’re getting the most current information.

Mortgage Calculator, Repayment Type

Will you pay off the amount you borrowed + interest or just the interest for a period?

How long does NAB home loan approval take?

The time required to get your home loan from NAB approved can vary based on a number of factors involved in the application process. 

Once you have applied for a home loan, a NAB specialist will contact you within 24 hours over the phone to take down relevant information, including your total income, debts (existing loans, credit cards, etc.), assets (car, shares, etc.), and your monthly expenses (food, utility bills, etc.). Your lender might also ask for information related to the property you want to purchase, including the type of dwelling and preferred postcode.

NAB will then verify all your information and check your credit score, and if the details stack up, you should be given a conditional approval certificate. This certificate stipulates how much money NAB is willing to lend you and is typically valid for 90 days. 

Once you have your conditional approval, you can start browsing for properties that you like and that fit within the budget that NAB has provided. After you find a suitable property, you’ll need to give a copy of the signed deed to NAB, following which you should get full approval and access to the funds. This process can take up to 4-6 weeks.