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- Fixed Options Home Loan (Principal and Interest) 5 Years
Fixed Options Home Loan
- Owner Occupied
- Fixed 5 years
- 5% min deposit
- P&I
Interest rate p.a.
6.99%
Comparison rate* p.a.
8.11%
Fixed Options Home Loan
- Owner Occupied
- Fixed 5 years
- 5% min deposit
- P&I
Interest rate p.a.
6.99%
Comparison rate* p.a.
8.11%
Calculate your repayments for this loan
Your estimated repayment
$3,323
based on 500000 loan amount for 25 years at 6.99%
Monthly Repayment
$3,323
Total interest
$818,888
Total payments
$1,318,888
Start date
05-2024
End date
05-2049
Pros and Cons
For Fixed Options Home Loan
Benefits
- Suitable for low deposits
- Parents can sign as guarantor
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- Limited extra repayments
- No offset account
- Higher than average interest rate
- Loan reverts to higher rate after fixed period
- Ongoing fee
- Higher than average upfront fee
- Discharge fee at end of loan
Westpac Fixed - 5 years Rate Home Loan overview
For Fixed Options Home Loan (Principal and Interest) 5 Years
Details
Maximum LVR
95%
Total repayments
$1,318,888
Interest rate type
Fixed - 5 years
Borrowing range
$15k - $100m
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 Westpac Banking Corporation Ltd to view Target Market Determination.
Features
Extra repayments
Allowed with restrictions
Redraw facility
Redraw fee: $0
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
Fees
Total estimated upfront fees
$600
Application fee
$600
Legal fee
$0
Valuation fee
$0
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$8
Discharge fee
$350