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- Mortgage Breaker Variable Home Loan - Owner occupied (QLD only)
Mortgage Breaker Variable Home Loan - Owner occupied (QLD only)
- Owner Occupied
- Variable
- 5% min deposit
- P&I
Interest rate p.a.
8.48%
Comparison rate* p.a.
8.55%
Mortgage Breaker Variable Home Loan - Owner occupied (QLD only)
- Owner Occupied
- Variable
- 5% min deposit
- P&I
Interest rate p.a.
8.48%
Comparison rate* p.a.
8.55%
RACQ Bank Variable Rate Home Loan overview
For Mortgage Breaker Home Loan (QLD only) (Principal and Interest)
Principal & Interest (P&I)
Loan type
Loan to value ratio
Interest rate
Comparison rate
Interest only
Loan type
Loan to value ratio
Interest rate
Comparison rate
Details
Maximum LVR
95%
Total repayments
Interest rate type
Variable
Borrowing range
$20k - $100m
Suitable for
Owner Occupiers
Loan term range
1 - 30 years
Repayment type
Principal and Interest
Applicable states
QLD
Repayment options
Fortnightly, Monthly, Weekly
Target Market Determination
Visit RACQ Bank 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
$900
Application fee
$900
Legal fee
$0
Valuation fee
$0
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$165
Pros and Cons
For Mortgage Breaker Variable Home Loan - Owner occupied (QLD only)
Benefits
- No ongoing fees
- 100% full offset account
- Suitable for low deposits
- Parents can sign as guarantor
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- Higher than average interest rate
- Higher than average upfront fee
- Discharge fee at end of loan
