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- Home Loans
- Macquarie Credit Union
- Home Equity Loan
Home Equity Loan
- Owner Occupied
- Variable
- 20% min deposit
- P&I
Interest rate p.a.
9.40%
Comparison rate* p.a.
9.45%
Home Equity Loan
- Owner Occupied
- Variable
- 20% min deposit
- P&I
Interest rate p.a.
9.40%
Comparison rate* p.a.
9.45%
Calculate your repayments for this loan
$
Your estimated repayment
$4,168
based on 500000 loan amount for 25 years at 9.4%
Monthly Repayment
$4,168
Total interest
$1,000,422
Total payments
$1,500,422
Start date
04-2024
End date
04-2049
$1,500,422
025 years
Principal owed
Total repayments owed
Interest owed
Pros and Cons
For Home Equity Loan
Benefits
- No ongoing fees
- Extra repayments and redraw facility
- Free redraw facility
Drawbacks
- No offset account
- Higher than average interest rate
- Higher than average upfront fee
- Discharge fee at end of loan
Macquarie Credit Union Variable Rate Home Loan overview
For Home Equity Loan
Details
Maximum LVR
80%
Total repayments
$1,500,422
Interest rate type
Variable
Borrowing range
$5k - $100m
Suitable for
Line of Credit, Owner Occupiers
Loan term range
1 - 30 years
Repayment type
Principal and Interest
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Fortnightly, Monthly, Weekly
Target Market Determination
Visit Macquarie Credit Union 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
$400
Application fee
$250
Legal fee
$0
Valuation fee
$0
Settlement fee
$150
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$350
