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- Home Loans
- First Option Bank
- Simple Home Loan (Principal and Interest) (LVR < 60%)
Simple Home Loan (Variable)
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
5.99%
Comparison rate* p.a.
5.99%
Simple Home Loan (Variable)
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
5.99%
Comparison rate* p.a.
5.99%
Calculate your repayments for this loan
Your estimated repayment
$2,995
based on 500000 loan amount for 25 years at 5.99%
Monthly Repayment
$2,995
Total interest
$578,034
Total payments
$1,078,034
Start date
05-2024
End date
05-2049
Pros and Cons
For Simple Home Loan (Variable)
Benefits
- Interest rates ranked in the best 20%
- No upfront or ongoing fees
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- No offset account
- Discharge fee at end of loan
- Maximum loan amount is limited to 60% of the property's value
- No repayment holidays
First Option Bank Variable Rate Home Loan overview
For Simple Home Loan (Principal and Interest) (LVR < 60%)
Details
Maximum LVR
60%
Total repayments
$1,078,034
Interest rate type
Variable
Borrowing range
$0 - $100m
Suitable for
Owner Occupiers
Loan term range
1 - 30 years
Repayment type
Principal and Interest
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Fortnightly, Monthly, Weekly
Target Market Determination
Visit First Option Credit Union Limited to view Target Market Determination.
Features
Extra repayments
Unlimited
Redraw facility
Redraw fee: $0
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
Fees
Total estimated upfront fees
$0
Application fee
$0
Legal fee
$0
Valuation fee
$0
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$175