CUA

Achieve Variable Home Loan (Principal and Interest) ($100k-$250k)

Advertised Rate

2.95%

Variable

Comparison Rate*

3.00%

Maximum LVR
90%
Real Time Rating™

0.99

/ 5
Monthly Repayment

$1,257

based on $300,000 loan amount for 25 years

Advertised Rate

2.95%

Variable

Comparison Rate*

3.00%

Maximum LVR
90%
Real Time Rating™

0.99

/ 5
Monthly Repayment

$1,257

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

$1,257

based on $300,000 loan amount for 25 years

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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

CUA Features and Fees

CUA Features and Fees

Details

Maximum LVR

90%

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 between 25/08/2020 and 30/10/2020 and settled by 31/01/2021. 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

CUA Features and Fees

Details

Maximum LVR

90%

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 between 25/08/2020 and 30/10/2020 and settled by 31/01/2021. 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.

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FAQs

What is appreciation or depreciation of property?

The increase or decrease in the value of a property due to factors including inflation, demand and political stability.

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.

Interest Rate

Your current home loan interest rate. To accurately calculate how much you could save, an accurate interest figure is required. If you are not certain, check your bank statement or log into your mortgage account.

What is a specialist lender?

Specialist lenders, also known as non-conforming lenders, are lenders that offer mortgages to ‘non-vanilla’ borrowers who struggle to get finance at mainstream banks.

That includes people with bad credit, as well as borrowers who are self-employed, in casual employment or are new to Australia.

Specialist lenders take a much more flexible approach to assessing mortgage applications than mainstream banks.

What is a fixed home loan?

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

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.

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, Loan Term

How long you wish to take to pay off your loan. 

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.

Does Real Time Ratings' work for people who already have a home loan?

Yes. If you already have a mortgage you can use Real Time RatingsTM to compare your loan against the rest of the market. And if your rate changes, you can come back and check whether your loan is still competitive. If it isn’t, you’ll get the ammunition you need to negotiate a rate cut with your lender, or the resources to help you switch to a better lender.

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.

How much are repayments on a $250K mortgage?

The exact repayment amount for a $250,000 mortgage will be determined by several factors including your deposit size, interest rate and the type of loan. It is best to use a mortgage calculator to determine your actual repayment size.

For example, the monthly repayments on a $250,000 loan with a 5 per cent interest rate over 30 years will be $1342. For a loan of $300,000 on the same rate and loan term, the monthly repayments will be $1610 and for a $500,000 loan, the monthly repayments will be $2684.

What is breach of contract?

A failure to follow all or part of a contract or breaking the conditions of a contract without any legal excuse. A breach of contract can be material, minor, actual or anticipatory, depending on the severity of the breaches and their material impact.

Mortgage Balance

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

Mortgage Calculator, Loan Results

These are the loans that may be suitable, based on your pre-selected criteria. 

Mortgage Calculator, Repayment Type

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

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.

How common are low-deposit home loans?

Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

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.

Mortgage Calculator, Interest Rate

The percentage of the loan amount you will be charged by your lender to borrow.