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Illawarra Credit Union

Bare Essentials (Principal and Interest)

Advertised Rate

2.59

% p.a

Variable

Comparison Rate*

2.64

% p.a

Maximum LVR
95%
Real Time Rating™

2.81

/ 5
Monthly Repayment

$1,359

based on $300,000 loan amount for 25 years at 2.59%

Advertised Rate

2.59

% p.a

Variable

Comparison Rate*

2.64

% p.a

Maximum LVR
95%
Real Time Rating™

2.81

/ 5
Monthly Repayment

$1,359

based on $300,000 loan amount for 25 years at 2.59%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,359

based on $300,000 loan amount for 25 years at 2.59%

Illawarra Credit Union home loans are available through brokers who can help find the right loan and manage your application at no charge.

Tony Harris

5.0
2 Reviews

Get expert advice from a home loans specialist.

A natural leader, innovator and developer of businesses and their people; Tony’s career over the last 40+ years has spanned Building and Construction, Property and Finance and Community Welfare and Charity. Tony is a serial entrepreneur and former corporate CEO, and for the last decade Tony’s focus has been in the finance industry with a strong bias towards property. Having worked as a mortgage and finance broker, Tony has also lent his expertise to advise and mentor other businesses to overcome challenges and thrive in a competitive and rapidly changing environment. Tony has a passion for Community Welfare and Charity events and founded the Bright Smiles Ride for Oral Health in Indigenous communities, he is a part of the Royal Flying Doctors Service Motorbike Ride and Car Trek which to date has raised over $30 million and he is a Board Member of the One Foundation. He has a proven track record of getting things done with unbridled enthusiasm and a commitment to help make a difference. Tony devotes the remainder of his time to being the best dad he can be, the greatest Grandfather of all time and to pursuing his life-long interest in horses. “I love talking about property and finance and love helping people see their full potential both personally and in their business. I’m always open to having a chat if you would like to reach out!”

NSW2000

ACL: 391823

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Quick home loan review

For Bare Essentials Home Loan (Principal and Interest)

These are the benefits of this home loan.

  • Lower than average interest rate
  • No ongoing fees
  • Suitable for low deposits
  • Parents can sign as guarantor
  • Extra repayments and redraw facility
  • Free redraw facility
  • Split account option

These are the drawbacks of this home loan.

  • No offset account
  • Higher than average upfront fee
  • Discharge fee at end of loan
  • No repayment holidays

Home loan overview

For Bare Essentials Home Loan (Principal and Interest)

Details

Maximum LVR

95%

Total Repayments

Next LVR

Interest rate type

Variable

Borrowing range

Suitable for

Owner Occupiers

Loan term range

10 - 30 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Unlimited extra repayments

Redraw facility

Redraw fee: $0

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

1,282

Application fee

600

Valuation fee

$242

Settlement fee

0

Other upfront fee

0

Ongoing fee

$0

Discharge fee

350

Application method

Online

Phone

In branch

Other Benefits

$6 monthly account keeping fee on the Everyday account waived while the Bare Essentials home loan is held (other fees and charges may apply).

Other Restrictions

Loan repayments must be made from an ICU Everyday transaction account

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FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $30k 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 95 percent, which means it requires a minimum deposit of 5 percent

What's the maximum length for this loan?

Illawarra Credit Union allows you to have this loan for a range of 10 to 30 years.

How often can you make repayments?

Illawarra Credit Union 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 $1,282 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?

Illawarra Credit Union makes it possible to apply for this product online. Apply here.

Can a broker help me with this loan?

Yes, this Illawarra Credit Union loan is available through a broker. Find a broker to help you with your needs.