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- Construction Loan
Construction Loan
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
6.45%
Comparison rate* p.a.
6.20%
Construction Loan
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
6.45%
Comparison rate* p.a.
6.20%
Freedom Lend Variable Rate Home Loan overview
For Construction Home Loan (LVR <60%)
Principal & Interest (P&I)
Loan type
Loan to value ratio
Interest rate
Comparison rate
Interest only
Loan type
Loan to value ratio
Interest rate
Comparison rate
Details
Maximum LVR
60%
Total repayments
Interest rate type
Variable
Borrowing range
$150k - $5m
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 FreedomLend Pty Ltd 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
$1.5k
Application fee
$750
Legal fee
$0
Valuation fee
$770
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$795
Pros and Cons
For Construction Loan
Benefits
- Interest rates ranked in the best 20%
- No ongoing fees
- 100% full offset account
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- Higher than average upfront fee
- Discharge fee at end of loan
- Maximum loan amount is limited to 60% of the property's value
- No repayment holidays
