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Bare Essentials Home Loan

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Customise your mortgage repayments by entering your details:

I want to borrow

Loan Term

years

Repayment Frequency

Pros and Cons

Pros:
  • No ongoing fees
  • Suitable for low deposits
  • Parents can sign as guarantor
  • Extra repayments + redraw services
Cons:
  • Discharge fee at end of loan
  • Repayments may increase if RBA raises rates
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Fees and Features

Maximum LVR
Maximum LVR
95%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$30k - $100m
Total repayments
Total repayments
$499,800
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
10 - 30 years
Offset account
Offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$607.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
$242
Legal fee
Legal fee
$365
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee
$250
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Maximum LVR
Maximum LVR
95%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$30k - $100m
Total repayments
Total repayments
$499,800
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
10 - 30 years
Offset account
Offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$607.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
$242
Legal fee
Legal fee
$365
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee
$250
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Other Benefits
$6 monthly account keeping fee waived on the Everyday account
Other Restrictions
Loan repayments must be made from an ICU Everyday transaction account

Illawarra Credit Union has been serving the Illawarra region since 1972. It is community focused and aims to help members map and achieve their financial strategy. Customers of Illawarra Credit Union must also become a member of the union and therefore have a say in how it is run. One of the main points of difference here is that Illawarra’s profits are reinvested into the business, unlike the major banks where the profits go to the shareholders.

Illawarra offers a full range of financial products and services, including:

  • Home loans.
  • Personal loans.
  • Savings accounts.
  • Everyday transaction accounts.
  • Term deposits.
  • Business banking solutions.

Illawarra Credit Union Home Loan Calculator  
Interested in a Illawarra home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Illawarra compares to its competitors. Simply plug in your borrowing amount below.

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