Rate Chaser Home Loans

Rate Chaser Ezy Self Managed Super Fund (LVR 70%-75%)

Advertised Rate

5.89%

Variable

Comparison Rate*

6.47%

Maximum LVR
75%
Real Time Rating™

1.71

/ 5
Monthly Repayment

$1,777

based on $300,000 loan amount for 25 years

Advertised Rate

5.89%

Variable

Comparison Rate*

6.47%

Maximum LVR
75%
Real Time Rating™

1.71

/ 5
Monthly Repayment

$1,777

based on $300,000 loan amount for 25 years

Calculate repayment for Rate Chaser Home Loans product

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,777

based on $300,000 loan amount for 25 years

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Pros and Cons

Pros and Cons

  • Extra repayments and redraw facility
  • Free redraw facility
  • Split account option
  • No offset account
  • Not available for first home buyers
  • Ongoing fee
  • Discharge fee at end of loan

Rate Chaser Home Loans Features and Fees

Rate Chaser Home Loans Features and Fees

Details

Maximum LVR

75%

Total Repayments

Interest rate type

Variable

Borrowing range

Suitable for

Investors, Self-Managed Super Funds

Loan term range

0 - 30 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Unlimited extra repayments

Redraw facility

Redraw fee: $0

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

$3460

Application fee

$570

Valuation fee

$250

Settlement fee

$150

Other upfront fee

$1095

Ongoing fee

$395 annually

Discharge fee

$535

Application method

Online

Phone

In branch

Other Benefits

Offset available with 0.1% loading on rate

Pros and Cons

  • Extra repayments and redraw facility
  • Free redraw facility
  • Split account option
  • No offset account
  • Not available for first home buyers
  • Ongoing fee
  • Discharge fee at end of loan

Rate Chaser Home Loans Features and Fees

Details

Maximum LVR

75%

Total Repayments

Interest rate type

Variable

Borrowing range

Suitable for

Investors, Self-Managed Super Funds

Loan term range

0 - 30 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Unlimited extra repayments

Redraw facility

Redraw fee: $0

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

$3460

Application fee

$570

Valuation fee

$250

Settlement fee

$150

Other upfront fee

$1095

Ongoing fee

$395 annually

Discharge fee

$535

Application method

Online

Phone

In branch

Other Benefits

Offset available with 0.1% loading on rate

FAQs

How will Real Time Ratings help me find a new home loan?

The home loan market is complex. With almost 4,000 different loans on offer, it’s becoming increasingly difficult to work out which loans work for you.

That’s where Real Time RatingsTM can help. Our system automatically filters out loans that don’t fit your requirements and ranks the remaining loans based on your individual loan requirements and preferences.

Best of all, the ratings are calculated in real time so you know you’re getting the most current information.

What is a fixed home loan?

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

How does a redraw facility work?

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.

Mortgage Calculator, Interest Rate

The percentage of the loan amount you will be charged by your lender to borrow. 

What is the flexibility score?

Today’s home loans often try to lure borrowers with a range of flexible features, including offset accounts, redraw facilities, repayment frequency options, repayment holidays, split loan options and portability. Real Time Ratings™ weights each of these features based on popularity and gives loans a ‘flexibility score’ based on how much they cater to borrowers’ needs over time. The aim is to give a higher score to loans which give borrowers more features and options.

What is appraised value?

An estimation of a property’s value before beginning the mortgage approval process. An appraiser (or valuer) is an expert who estimates the value of a property. The lender generally selects the appraiser or valuer before sanctioning the loan.

How can I get a home loan with no deposit?

Following the Global Financial Crisis, no-deposit loans, as they once used to be known, have largely been removed from the market. Now, if you wish to enter the market with no deposit, you will require a property of your own to secure a loan against or the assistance of a guarantor.

Do other comparison sites offer the same service?

Real Time RatingsTM is the only online system that ranks the home loan market based on your personal borrowing preferences. Until now, home loans have been rated based on outdated data. Our system is unique because it reacts to changes as soon as we update our database.

What is a building in course of erection loan?

Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.

Mortgage Calculator, Property Value

An estimate of how much your desired property is worth. 

What is the average annual percentage rate?

Also known as the comparison rate, or sometimes the ‘true rate’ of a loan, the average annual percentage rate (AAPR) is used to indicate the overall cost of a loan after considering all the fees, charges and other factors, such as introductory offers and honeymoon rates.

The AAPR is calculated based on a standardised loan amount and loan term, and doesn’t include any extra non-standard charges.

What is a valuation and valuation fee?

A valuation is an assessment of what your home is worth, calculated by a professional valuer. A valuation report is typically required whenever a property is bought, sold or refinanced. The valuation fee is paid to cover the cost of preparing a valuation report.

What is appreciation or depreciation of property?

The increase or decrease in the value of a property due to factors including inflation, demand and political stability.

Mortgage Calculator, Repayment Frequency

How often you wish to pay back your lender. 

How is the flexibility score calculated?

Points are awarded for different features. More important features get more points. The points are then added up and indexed into a score from 0 to 5.

What is the amortisation period?

Popularly known as the loan term, the amortisation period is the time over which the borrower must pay back both the loan’s principal and interest. It is usually determined during the application approval process.

Monthly Repayment

Your current monthly home loan repayment. To accurately calculate how much you could save, an accurate payment figure is required. If you are not certain, check your bank statement.

Does Real Time Ratings' work for people who already have a home loan?

Yes. If you already have a mortgage you can use Real Time RatingsTM to compare your loan against the rest of the market. And if your rate changes, you can come back and check whether your loan is still competitive. If it isn’t, you’ll get the ammunition you need to negotiate a rate cut with your lender, or the resources to help you switch to a better lender.

How personalised is my rating?

Real Time Ratings produces instant scores for loan products and updates them based what you tell us about what you’re looking for in a loan. In that sense, we believe the ratings are as close as you get to personalised; the more you tell us, the more we customise to ratings to your needs. Some borrowers value flexibility, while others want the lowest cost loan. Your preferences will be reflected in the rating. 

We also take a shorter term, more realistic view of how long borrowers hold onto their loan, which gives you a better idea about the true borrowing costs. We take your loan details and calculate how much each of the relevent loans would cost you on average each month over the next five years. We assess the overall flexibility of each loan and give you an easy indication of which ones are likely to adjust to your needs over time. 

How much are repayments on a $250K mortgage?

The exact repayment amount for a $250,000 mortgage will be determined by several factors including your deposit size, interest rate and the type of loan. It is best to use a mortgage calculator to determine your actual repayment size.

For example, the monthly repayments on a $250,000 loan with a 5 per cent interest rate over 30 years will be $1342. For a loan of $300,000 on the same rate and loan term, the monthly repayments will be $1610 and for a $500,000 loan, the monthly repayments will be $2684.