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Reduce Home Loans

Home Owners Dream Fixed

Advertised Rate

1.89

% p.a

Fixed - 1 year

Comparison Rate*

2.24

% p.a

Maximum LVR
80%
Real Time Rating™

4.04

/ 5
Monthly Repayment

$1,256

based on $300,000 loan amount for 25 years at 1.89%

Advertised Rate

1.89

% p.a

Fixed - 1 year

Comparison Rate*

2.24

% p.a

Maximum LVR
80%
Real Time Rating™

4.04

/ 5
Monthly Repayment

$1,256

based on $300,000 loan amount for 25 years at 1.89%

Calculate your repayments for this loan

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,256

based on $300,000 loan amount for 25 years at 1.89%

Quick home loan review

For Home Owners Dream Fixed 1 Year (LVR < 80%)

These are the benefits of this home loan.

  • Interest rates ranked in the best 20%
  • No ongoing fees
  • Parents can sign as guarantor
  • Split account option

These are the drawbacks of this home loan.

  • Limited extra repayments
  • No redraw and no offset
  • Loan reverts to higher rate after fixed period
  • Higher than average upfront fee
  • Discharge fee at end of loan
  • No repayment holidays

Home loan overview

For Home Owners Dream Fixed 1 Year (LVR < 80%)

TMD

Details

Maximum LVR

80%

Total Repayments

Interest rate type

Fixed - 1 year

Borrowing range

Suitable for

Owner Occupiers

Loan term range

1 - 30 years

Principal & interest

Interest only

Applicable states

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

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Yes - limited to $20000

Redraw facility

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

1,170

Application fee

440

Valuation fee

At Cost

Settlement fee

0

Other upfront fee

730

Ongoing fee

$0

Discharge fee

500

Application method

Online

Phone

Broker

In branch

Target Market Determination

Visit Reduce Home Loans to view Target Market Determination.

Other Benefits

100% offset account available at $10/month. You may be eligible for a 0.10% discount after 5 years of good payment conduct; speak to your credit representative for more information. Add 0.10% to waive upfront fees ($697) on loans over $150k.

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FAQs

What is the minimum amount you can apply for?

The range you can borrow from this loan is $50k to $3,500,000.

What's the minimum deposit needed for this loan?

This loan option comes with a maximum loan-to-value ratio of 80 percent, which means it requires a minimum deposit of 20 percent

What's the maximum length for this loan?

Reduce Home Loans allows you to have this loan for a range of 1 to 30 years.

How often can you make repayments?

Reduce Home Loans allows you to make repayments to this loan option through one of the following repayment schedules: fortnightly, monthly, weekly.

How much will the upfront fees be for this loan?

While it could change based on your circumstances, RateCity estimates that this loan option comes with $1,170 worth of upfront fees.

Does this loan come with a redraw facility?

No, this loan doesn't come with a redraw facility.

Where can you apply for this loan?

Reduce Home Loans makes it possible to apply for this product online. Apply here.