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- Economizer Variable
Economizer Variable
- Owner Occupied
- Variable
- 20% min deposit
- P&I
Interest rate p.a.
6.29%
Comparison rate* p.a.
6.31%
Economizer Variable
- Owner Occupied
- Variable
- 20% min deposit
- P&I
Interest rate p.a.
6.29%
Comparison rate* p.a.
6.31%
Reduce Home Loans Variable Rate Home Loan overview
For Economizer Variable Home Loan (Principal and Interest) (LVR < 80%)>$1M
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
80%
Total repayments
Interest rate type
Variable
Borrowing range
$1m - $3.5m
Suitable for
Owner Occupiers
Loan term range
1 - 30 years
Repayment type
Principal and Interest
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Fortnightly, Monthly, Weekly
Target Market Determination
Visit Reduce Home Loans Pty Ltd 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
Instant approval available for this product. 100% offset account available at $10 per month. 0.08% loyalty discount on the interest rate after the 5th anniversary of the loan.
Fees
Total estimated upfront fees
$1.4k
Application fee
$440
Legal fee
$0
Valuation fee
$0
Settlement fee
$480
Other upfront fee
$500
Ongoing fee
$0
Discharge fee
$0
Other Restrictions
For construction purpose: Add 0.30%, $500 Construction Admin Fee, $550 Upfront Progress Inspection Fee, and $295 Funder Contract Processing Fee.
Pros and Cons
For Economizer Variable
Benefits
- Interest rates ranked in the best 20%
- No ongoing fees
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- No offset account
- Higher than average upfront fee
- No repayment holidays
