Important disclosure

Horizon Bank

Home Sweet Home Loan

  • Owner Occupied
  • Variable
  • 30% min deposit
  • P&I
Interest Rate

6.24%

p.a

Comparison Rate*

6.63%

p.a

Real Time Rating™
Tags
  • Owner Occupied
  • Variable
  • 30% min deposit
  • P&I
Interest Rate

6.24%

p.a

Comparison Rate*

6.63%

p.a

ly Repayment

$0

based on $500,000 loan amount for 25 years at 6.09%

Home Sweet Home Loan

Find your ideal home loan from one of the 2 home loans from Horizon Bank

Principal and Interest (P&I)

Loan typeLoan to value ratio
Interest rate
Comparison rate
Intro 24 months
Up to 70%

6.24% p.a.

6.63% p.a.

Product Info
Intro 24 months
Up to 95%

6.39% p.a.

6.77% p.a.

Product Info

Interest only

Loan typeLoan to value ratio
Interest rate
Comparison rate

Horizon Bank Intro 24 months Rate Home loan overview

For Home Sweet Home Loan (LVR ≤ 70%)

Details

Maximum LVR

70%

Total Repayments

Interest rate type

Variable

Borrowing range

Suitable for

Owner Occupiers

Loan term range

1 - 30 years

Repayment type

Principal and Interest

Applicable states

NSW

Repayment options

Fortnightly, Monthly, Weekly

Target Market Determination

Visit Horizon Bank to view Target Market Determination.

Features

Extra repayments

Unlimited

Redraw facility

Redraw fee: $0

Split interest facility

Loan portability

Repayment holiday available

Allow guarantors

Available for first home buyers

Other benefits

Offset account available for $150 p.a

Fees

Total estimated upfront fees

$350

Application fee

$350

Valuation fee

$0

Settlement fee

$0

Other upfront fee

$0

Ongoing fee

$150

Discharge fee

$250

Pros and cons

For Home Sweet Home Loan (LVR ≤ 70%)

Benefits

  • Interest rates ranked in the best 20%
  • Extra repayments and redraw facility
  • Free redraw facility
  • Split account option

Drawbacks

  • No offset account
  • Loan reverts to higher rate after introductory period
  • Ongoing fee
  • 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
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Interest Rate

6.01%

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Comparison Rate*

6.14%

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Comparison Rate*

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Interest Rate

6.30%

p.a

Comparison Rate*

6.58%

p.a

FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $50k to $99,999,999.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 70 percent, which means it requires a minimum deposit of 30 percent

What's the maximum length for this loan?

Horizon Bank allows you to have this loan for a range of 1 to 30 years.

How often can you make repayments?

Horizon Bank allows you to make repayments to this loan option through one of the following repayment schedules: fortnightly, monthly, weekly.

How much will the upfront fees be for this loan?

While it could change based on your circumstances, RateCity estimates that this loan option comes with $350 worth of upfront fees.

Does this loan come with a redraw facility?

Yes, this loan comes with a redraw, charged at $0 if you need to use it.

Where can you apply for this loan?

Horizon Bank makes it possible to apply for this product online. Apply here.