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- Home Loans
- Northern Inland
- Smart Home Loan (Interest Only)
Smart Home Loan
- Owner Occupied
- Variable
- 5.01% min deposit
- Interest Only
Interest rate p.a.
7.94%
Comparison rate* p.a.
8.07%
Smart Home Loan
- Owner Occupied
- Variable
- 5.01% min deposit
- Interest Only
Interest rate p.a.
7.94%
Comparison rate* p.a.
8.07%
Calculate your repayments for this loan
$
Your estimated repayment
$3,308
based on 500000 loan amount for 25 years at 7.94%
Monthly Repayment
$3,308
Total interest
$1,191,000
Total payments
$1,191,000
Start date
04-2024
End date
04-2049
$1,191,000
025 years
Principal owed
Total repayments owed
Interest owed
Pros and Cons
For Smart Home Loan
Benefits
- 100% full offset account
- Suitable for low deposits
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- Higher than average interest rate
- Ongoing fee
- Higher than average upfront fee
- Discharge fee at end of loan
- No repayment holidays
Northern Inland Variable Rate Home Loan overview
For Smart Home Loan (Interest Only)
Details
Maximum LVR
94.99%
Total repayments
$1,191,000
Interest rate type
Variable
Borrowing range
$20k - $100m
Suitable for
Owner Occupiers
Loan term range
0 - 30 years
Repayment type
Interest only
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Fortnightly, Monthly, Weekly
Target Market Determination
Visit Northern Inland 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
$600
Application fee
$600
Legal fee
$0
Valuation fee
$0
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$8
Discharge fee
$200
