Ultimate Fixed Home Loan (NSW, ACT & QLD only) 3 Years
specialBorrow up to 110% of the property value by asking your family to guarantee the home loan by using their property as security on your mortgage
- Last updated on 06 Jul 2020
Smart Home Loan
specialGet one of the lowest variable interest rates on the market and pay no application or ongoing fees
Get one of the lowest variable interest rates on the market
Smart Home Loan
Fixed - 3 years
based on $300,000 loan amount for 25 years
- No upfront fees
- Parents can sign as guarantor
- Extra repayments + redraw services
- Comes with a credit card
- Limited extra repayments
- Annual fee charged
- Discharge fee at end of loan
- Repayments won't decrease if RBA cuts rates
Interest rate structure
Fixed - 3 years
$40k - $100m
Principal & interest
Loan term range
0 - 30 years
Allowed with restrictions
Redraw fee: $0
Allows split interest
ACT, NSW, QLD
Total estimated upfront fees
Other upfront fee
Minimum SMSF Amount
- Special Borrow up to 110% of the property value by asking your family to guarantee the home loan by using their property as security on your mortgage
ATM Fees is zero if you deposit at least $2000 monthly
Compare and review home loans with similar features
Since 1945, Greater Bank has been helping Australians build better financial futures. As a member-owned and member-run mutual bank, all profits are reinvested into the business, which means Greater Bank customers can enjoy better value products and services.
Greater Bank’s roots are firmly planted in community, with a percentage of profits put towards supporting each branch’s local community.
With over 250,000 customers and more than 700 staff, Greater Bank makes customer support a priority. Greater Bank has won numerous awards including the Building Society of the Year, Asia-Pacific Banking & Finance Building Society of the Year and Smart Investor Blue Ribbon Awards Building Society of the Year.
Note: Greater Bank home loans are only available for properties in NSW, ACT and QLD.
A loan-to-value ratio (otherwise known as a Loan to Valuation Ratio or LVR), is a calculation lenders make to work out the value of your loan versus the value of your property, expressed as a percentage. Lenders use this calculation to help assess your suitability for a home loan, and whether you need to pay lender’s mortgage insurance (LMI). As a general rule, most banks will require you to pay LMI if your loan-to-value ratio is 80 per cent or more. LVR is worked out by dividing the loan amount by the value of the property. If you are looking for a quick ball-park estimate of LVR, the size of your deposit is a good indicator as it is directly proportionate to your LVR. For instance, a loan with an LVR of 80 per cent requires a deposit of 20 per cent, while a 90 per cent LVR requires 10 per cent down payment.
LOAN AMOUNT / PROPERTY VALUE = LVR%
While this all sounds simple enough, it is worth doing a more accurate calculation of LVR before you commit to buying a place as there are some traps to be aware of. Firstly, the ‘loan amount’ is the price you paid for the property plus additional costs such as stamp duty and legal fees, minus your deposit amount. Secondly, the ‘property value’ is determined by your lender’s valuation of the property, not the price you paid for it, and sometimes these can differ so where possible, try and get your bank to evaluate the property before you put in an offer.