Resimac's Optima has been designed to offer a 'tailor-made' mortgage to suit your borrowing needs. Unlike other home loan products where the loan type is pre-set, you get to choose what you want the loan to look like.
For starters, you can opt for a variable interest or fixed interest rate, or you could split the loan between a fixed and variable portion. This would allow you to take advantage of fixing part of your repayments while retaining the flexibility that a variable loan often provides.
The flexibility offered by the Resimac Optima loan means that it can be adapted to suit any type of borrowing scenario. Investors may want a line of credit, with interest-only repayments. Whereas a first home buyer might feel more comfortable with a 25 year loan term, with five years fixed interest paying principle and interest.
The Resimac Optima loan also gives you a range of banking features to use. If you setup a variable rate loan, you might also want an offset account to help reduce the overall interest payable on your loan. You also have the option of making unlimited extra repayments, along with an unlimited free redraw facility.
You can borrow up to 95 per cent of the property value, however you will be expected to pay lenders mortgage insurance.
The Resimac Optima makes itself attractive to every type of borrower. Whether you're a first home buyer, owner-occupier, refinancer or investor you can mix and match features of the home loan to suit your purpose.
The Homeloans Optima loan offers a 'pick and mix' solution based on your borrowing situation. It gives you the freedom to be able to decide what features you want, and which ones you don't need. Their interest rates are competitive and the fees are relatively low, depending on which features you choose.
Borrow from $150,000, as a term loan or line of credit. Choose between a fixed or variable interest rate or a split loan. And establish repayments as principle and interest, or interest-only.