Community First Credit Union True Loan

Features

The Community First Credit Union True Loan options give borrowers a range of options to allow them to refinance more quickly, with a low minimum deposit and no ongoing fees.

Borrowers have the option of paying weekly, fortnightly, or monthly. This gives borrowers a little more control over how they manage their money.

Borrowers can also make extra repayments at any time, without incurring a penalty. Repayments can also be redrawn at any time by borrowers.

A 100 per cent offset account is also available on the True Value Standard Loan, which allows borrowers to deposit money to directly offset the interest that they pay over the course of the loan. It should be noted that this feature not available on the True Value Basic Loan.

Who is the Community First Credit Union True Loan good for?

The Community First Credit Union’s True Loan options may suit borrowers who are looking for flexible loan options with no ongoing fees. 

Review - What RateCity says

The Community First Credit Union True Loan options provide flexibility to borrowers at a moderate interest rate. The lack of ongoing fees helps borrowers to take advantage of features such as additional repayments, while additional flexibility is offered via repayment schedules and interest rate structures. 

Community First Credit Union True Loan Options

The Community Credit Union’s True Loan offers a range of options for investment and home buying, including both variable and split interest rate loans.

Basic Variable Investment Loan (No LVR Cap)SpecialLower rate with no LVR cap. Application deadline of 8 August 2018, loan funding deadline of 8 November 2018.
Advertised rate
3.89%
Variable
Comparison rate*
3.95%
Compare
Basic Variable Home Loan (Principal and Interest) (LVR < 80%)
Advertised rate
4.10%
Variable
Comparison rate*
4.16%
Compare
Basic Variable Investment Loan (LVR < 80%)
Advertised rate
4.50%
Variable
Comparison rate*
4.56%
Compare
Basic Variable Home Loan (Principal and Interest) (LVR 80%-95%)
Advertised rate
4.51%
Variable
Comparison rate*
4.57%
Compare
Fixed Rate Home Loan (Principal and Interest) 3 Years (New Money Offer)
Advertised rate
3.69%
Fixed - 3 years
Comparison rate*
4.93%
Compare
Basic Variable Home Loan (Interest Only) (LVR < 80%)
Advertised rate
4.45%
Variable
Comparison rate*
4.94%
Compare
Basic Variable Investment Loan (LVR 80%-95%)
Advertised rate
4.91%
Variable
Comparison rate*
4.98%
Compare
Fixed Rate Home Loan (Principal and Interest) 3 Years
Advertised rate
3.99%
Fixed - 3 years
Comparison rate*
4.99%
Compare
Fixed Rate Home Loan (Interest Only) 3 Years
Advertised rate
4.34%
Fixed - 3 years
Comparison rate*
5.01%
Compare
Fixed Rate Home Loan (Principal and Interest) 2 Years
Advertised rate
3.85%
Fixed - 2 years
Comparison rate*
5.05%
Compare
Fixed Rate Home Loan (Interest Only) 2 Years
Advertised rate
4.20%
Fixed - 2 years
Comparison rate*
5.06%
Compare
Basic Variable Home Loan (Interest Only) (LVR 80%-95%)
Advertised rate
4.86%
Variable
Comparison rate*
5.10%
Compare
Fixed Rate Home Loan (Principal and Interest) 1 Year
Advertised rate
3.79%
Fixed - 1 year
Comparison rate*
5.14%
Compare
Fixed Rate Home Loan (Interest Only) 1 Year
Advertised rate
4.14%
Fixed - 1 year
Comparison rate*
5.14%
Compare
Standard Variable Home Loan
Advertised rate
5.17%
Variable
Comparison rate*
5.24%
Compare
Fixed Rate Investment Loan 3 Years
Advertised rate
4.39%
Fixed - 3 years
Comparison rate*
5.40%
Compare
Fixed Rate Investment Loan 2 Years
Advertised rate
4.25%
Fixed - 2 years
Comparison rate*
5.46%
Compare
Fixed Rate Investment Loan 1 Year
Advertised rate
4.19%
Fixed - 1 year
Comparison rate*
5.54%
Compare
Standard Variable Investment Loan
Advertised rate
5.57%
Variable
Comparison rate*
5.64%
Compare

Fixed Rates from

3.69%

Advertised rate

4.93%

Comparison rate

Variable Rates from

3.89%

Advertised rate

3.95%

Comparison rate
Pros
  • Additional repayments.
  • No ongoing fees.
  • 100 per cent offset account.
Cons
  • Offset account only available with Standard Loan.
  • Not portable.
  • Large upfront fee.
Eligibility

Australian resident.

At least 18 years of age.

Proof of income.

Suitable For
  • First Home Buyers
  • Investors
  • Refinancers
  • Owner-Occupiers
Fees
  • Estimated upfront fees: $990.00
  • Discharge fees: $300
  • Ongoing fees: $0

Borrowers signing up to either of the Community First Credit Union True Loan options are required to pay hefty upfront fees, but are free of any ongoing fees for the duration of the loan. A discharge fee is payable when borrowers have completed the loan.

Borrowers may also be required to pay lenders mortgage insurance for smaller deposits.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Community First Credit Union

The Community First Credit Union was founded in 1959 as the Sydney Water Board Officers Credit Union. It now has branches in Sydney and the Central Coast region.

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