Smart Pro Home Loan (Interest Only) ($30k-$200k, LVR 80%-90%)
- Extra repayments + redraw services
- Free redraw facility
- Repayments may decrease if RBA cuts rates
- Annual fee charged
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$30k - $2m
Principal & interest
Loan term range
25 - 30 years
Unlimited extra repayments
Redraw fee: $0
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
Compare and review home loans with similar features
RESI is based in Sydney and has branches throughout Australia and offers a number of financial products and services. These include home and commercial loans, superannuation and personal finance advice.
RESI Mortgage Corp has won numerous awards and was named Australia’s Best Non-Bank Lender at the Australian Lending Awards in 2012.
RESI Home Loan Calculator
Interested in an RESI home loan? RateCity has a suite of calculators that can show you what your repayments would be and how RESIcompares to its competitors. Simply plug in your borrowing amount below.
You should carefully weigh up the pros and cons before signing on as a guarantor – because while it can be very rewarding if everything goes according to plan, it can have serious consequences if the plan goes awry.
If the person you’re guaranteeing keeps up with their mortgage repayments, you’ll be able to take pleasure in helping them fulfil their dream of home ownership.
However if that person fails to meet their mortgage repayments, it might damage or destroy your relationship. Your finances might also be affected if the lender asks you to make the repayments or even seizes your home to settle the debt.
It’s no longer possible to get a no-deposit home loan in Australia. In some circumstances, you might be able to take out a mortgage with a 5 per cent deposit – but before you do so, it’s important to weigh up the pros and cons.
The big advantage of borrowing 95 per cent (also known as a 95 per cent home loan) is that you get to buy your property sooner. That may be particularly important if you plan to purchase in a rising market, where prices are increasing faster than you can accumulate savings.
But 95 per cent home loans also have disadvantages. First, the 95 per cent home loan market is relatively small, so you’ll have fewer options to choose from. Second, you’ll probably have to pay LMI (lender’s mortgage insurance). Third, you’ll probably be charged a higher interest rate. Fourth, the more you borrow, the more you’ll ultimately have to pay in interest. Fifth, if your property declines in value, your mortgage might end up being worth more than your home.