Home Access Loan (Owner Occupied)
- Last updated on 03 Jun 2020
Home Value Home Loan
specialGet a low variable interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.
Home Value Loan
based on $350,000 loan amount for 25 years
- No ongoing fees
- Repayments may decrease if RBA cuts rates
- No extra repayments
- No redraw and no offset
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$150k - $100m
Principal & interest
Loan term range
1 - 30 years
Allows split interest
Line of Credit, Owner Occupiers
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
$100 free monthly transaction allowance to use at ATMs and EFTPOS.
Repayment holidays not available on interest only loans
Compare and review home loans with similar features
Qudos Bank is one of Australia’s largest mutual banks with over 96,000 members across Australia and branches in Sydney, Melbourne, Brisbane and Perth. Founded in 1959 as Qantas Credit Union, it has been customer-owned for over 60 years. Offering a full range of products including home loans, personal loans, savings accounts and credit cards, customers benefit from competitive rates and low fees.
A redraw facility attached to your loan allows you to borrow back any additional repayments that you have already paid on your loan. This can be a beneficial feature because, by paying down the principal with additional repayments, you will be charged less interest. However you will still be able to access the extra money when needed.
Equity refers to the difference between what your property is worth and how much you owe on it. Essentially, it is the amount you have repaid on your home loan to date, although if your property has gone up in value it can sometimes be a lot more.
You can use the equity in your home loan to finance renovations on your existing property or as a deposit on an investment property. It can also be accessed for other investment opportunities or smaller purchases, such as a car or holiday, using a redraw facility.
Once you are over 65 you can even use the equity in your home loan as a source of income by taking out a reverse mortgage. This will let you access the equity in your loan in the form of regular payments which will be paid back to the bank following your death by selling your property. But like all financial products, it’s best to seek professional advice before you sign on the dotted line.