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- Variable Rate Home Loan (Interest Only) (LVR < 70%)
Owner Occupied Variable Home Loan (Interest Only)
- Owner Occupied
- Variable
- 30% min deposit
- Interest Only
Interest rate p.a.
6.39%
Comparison rate* p.a.
6.39%
Owner Occupied Variable Home Loan (Interest Only)
- Owner Occupied
- Variable
- 30% min deposit
- Interest Only
Interest rate p.a.
6.39%
Comparison rate* p.a.
6.39%
Calculate your repayments for this loan
$
Your estimated repayment
$2,663
based on 500000 loan amount for 25 years at 6.39%
Monthly Repayment
$2,663
Total interest
$958,500
Total payments
$958,500
Start date
05-2024
End date
05-2049
$958,500
025 years
Principal owed
Total repayments owed
Interest owed
Pros and Cons
For Owner Occupied Variable Home Loan (Interest Only)
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 70% of the property's value
- No repayment holidays
Homestar Finance Variable Rate Home Loan overview
For Variable Rate Home Loan (Interest Only) (LVR < 70%)
Details
Maximum LVR
70%
Total repayments
$958,500
Interest rate type
Variable
Borrowing range
$150k - $2m
Suitable for
Owner Occupiers
Loan term range
1 - 30 years
Repayment type
Interest only
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Monthly
Target Market Determination
Visit Homestar Finance 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
$395
Application fee
$0
Legal fee
$0
Valuation fee
$0
Settlement fee
$395
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$535
