- Home
- Home Loans
- Gateway Bank
- EquitiSmart Line of Credit
EquitiSmart Line of Credit
- Owner Occupied
- Variable
- 20% min deposit
- Interest Only
Interest rate p.a.
9.50%
Comparison rate* p.a.
EquitiSmart Line of Credit
- Owner Occupied
- Variable
- 20% min deposit
- Interest Only
Interest rate p.a.
9.50%
Comparison rate* p.a.
Gateway Bank Variable Rate Home Loan overview
For EquitiSmart Line of Credit Home Loan
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
80%
Total repayments
Interest rate type
Variable
Borrowing range
$20k - $1m
Suitable for
Line of Credit, Owner Occupiers
Loan term range
1 - 30 years
Repayment type
Interest only
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Fortnightly, Monthly, Weekly
Target Market Determination
Visit Gateway Bank Ltd to view Target Market Determination.
Features
Extra repayments
Unlimited
Redraw facility
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
Fees
Total estimated upfront fees
$800
Application fee
$200
Legal fee
$275
Valuation fee
$325
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$300
Pros and Cons
For EquitiSmart Line of Credit
Benefits
- No ongoing fees
- Split account option
Drawbacks
- No redraw and no offset
- Higher than average interest rate
- Higher than average upfront fee
- Discharge fee at end of loan
- No repayment holidays
