- Home
- Home Loans
- Resi Mortgage
- Essential Options Alt Doc
Essential Options Alt Doc
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
7.19%
Comparison rate* p.a.
7.25%
Essential Options Alt Doc
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
7.19%
Comparison rate* p.a.
7.25%
Resi Mortgage Variable Rate Home Loan overview
For Essential Options Alt Doc Home Loan (Principal and Interest) (LVR < 60%) (New Customer)
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
60%
Total repayments
Interest rate type
Variable
Borrowing range
$150k - $2m
Suitable for
Owner Occupiers
Loan term range
10 - 40 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 Resi Mortgage 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
100% Offset
Fees
Total estimated upfront fees
$860
Application fee
$495
Legal fee
$365
Valuation fee
$0
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$300
Pros and Cons
For Essential Options Alt Doc
Benefits
- No ongoing fees
- 100% full offset account
- 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
- Maximum loan amount is limited to 60% of the property's value
- No repayment holidays
