Queensland Country Credit Union Home Equity Loan | Review & Compare Home Loans

Advertised Rate

5.49%

Variable

Comparison Rate*

6.36%

Maximum LVR

90%

Real Time Rating™

Monthly Repayment

$1,701

based on $300,000 loan amount for 25 years

Pros and Cons

Pros

Extra repayments + redraw services
Free redraw facility
Repayments may decrease if RBA cuts rates

Cons

Not available for first home buyer
Discharge fee at end of loan
Repayments may increase if RBA raises rates

Queensland Country Bank Fees and Features

Maximum LVR 90%	Interest rate structure Variable
Borrowing range $10k - $100m Calculate how much you can borrow	Total Repayments $612,360 View repayment schedule »
Principal & interest	Interest only
Loan term range 0 - 10 years	Offset account No
Extra repayments Unlimited extra repayments	Redraw facility Redraw fee: $0
Allows split interest	Suitable For Line of Credit, Owner Occupiers
Applicable States	Make Repayments Fortnightly, Monthly, Weekly
Total estimated upfront fees $750	Application fee $250
Settlement fee $250	Valuation fee $0
Legal fee $250	Other upfront fee $0
Ongoing fee $10 monthly	Discharge fee $450
Property Type	SMSF Trustee
Minimum SMSF Amount

Queensland Country Credit Union (QCCU) is a Queensland-based credit union that was founded in 1971 as the Isa Mine Employees’ Credit Union Limited. Since then, QCCU has grown and expanded its membership, merging with other Queensland-based credit unions such as QCCU Australia and Queenslanders Credit Union.

Like other credit unions, QCCU isn’t beholden to any shareholders, which means profits can be passed back to members through competitive interest rates.

QCCU aims to offer an alternative to the big four banks and provides a range of everyday banking products, insurance, credit cards and home loans.

QCCU Home Loan Calculator

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

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Five home loans for getting cash out from your equity

With social distancing restrictions affecting many Australian workplaces, a lot of us have had to rethink our personal finances, including our home loans. And with big banks and smaller lenders slashing interest rates to new record lows, it’s no surprise that many Australians are refinancing their mortgages, as shown by recent ABS data.

Mark BristowJun 25, 2020( 3 min read )

How low could home loan rates go?

With Australia entering its first recession in decades, banks and mortgage lenders are eager to sign up new customers, and are making discounted interest rates available to first home buyers and refinancers. Large and small banks have been slashing both fixed and variable interest rates, and may continue to compete by offering further discounts.

Mark BristowJul 6, 2020( 2 min read )

The benefits of line of credit loans

Do you want more financial freedom? Have you got equity in existing property? Would you like to consolidate your finances? A line of credit loan may give you access to funds to purchase another property, invest in shares or take a well-deserved holiday.

Alex RitchieMar 8, 2017( 4 min read )

Refinancing a home loan for bad credit

Managing your finances is never easy, but this can prove especially challenging if you’ve had problems with bad credit in the past. Whether you’re doing it tough due to financial problems from circumstances beyond your control, or if you’re trying to make up for money mistakes you've made in the past, a bad credit score can cast a long shadow over your future financial dealings, including refinancing a home loan.

Mark BristowNov 28, 2016( 6 min read )

Refinancing your home loan to buy an investment property

If you have been paying down your mortgage consistently while living in your property, you may be considering using your available equity to secure an investment property. While this strategy comes with its risks, there is also great reward to be had in a successful investment.

Patricia BabalisDec 4, 2016( 9 min read )

FAQs

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RateCity wants to prove that it pays to check your home loan rate, and provide some extra motivation for doing so. We want to encourage people to take an active interest in their home loans, and gain a thorough understanding of what they’re paying and how much they could save.

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You can only check your rates once. However we will send you, via email, the link to the result page so that you may return to it.

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The winner will be chosen randomly from our entries on 21 May 2020 by Loyalty.com.au, in the presence of an independent scrutineer.

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No. You can invite as many people to enter the competition as you like. Just remember that you’ll only get one extra entry in the competition for each invited friend that checks their own rate.

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For details on how RateCity makes money, please see here.

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No. While we will do our best to show a list of loans that may suit your needs, if you choose to apply to refinance, it is up to the lender to approve or disapprove your loan based on your individual circumstances, after you have submitted all your paperwork.

This can sometimes take up to 30 days, so it is important to find out exactly what the criteria is for the loan, and what you need in terms of paperwork. RateCity does not make any suggestions taking into account your personal and individual needs.

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If we can’t beat your current home loan rate, you can claim your $100 gift card by confirming your home loan details with us.*

To do this, on your results page you’ll need to securely upload a home loan document or statement from your lender that can be used to confirm the home loan details you provided. This should outline the following information:

Loan term
Loan type (fixed / variable)
Payment type (principal and interest / interest only)
Loan purpose (owner / investor)
Property value
Date of loan commencement
Any special conditions

We’ll keep your information private and confidential and only use your document to confirm your entry.

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Your repayments should appear on your bank statements or your internet banking. If you make weekly or fortnightly repayments, make sure you convert them to monthly calculations.

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We use your current mortgage details to calculate the potential savings if you were to change lenders, and also to help us point you to loans that may meet your needs.

For example – if you live in the house you own, we’ll make sure we show you the owner-occupier rates, which are typically cheaper than investor rates. Or if you have less than 20% equity in your property, then we won’t show you the deals that require a greater amount of equity.

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This competition is only available to Australian residents who are over 18 and check their home loan interest rate at RateCity. However, you are not required to refinance your home loan or apply for any financial products.

You can still enter if you don’t have a home loan yet – enter how much you plan to borrow and the details of the property you’re considering, and we’ll compare mortgage offers that may suit your needs and estimate how much you could save compared to a loan with an average interest rate.

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