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Key Features

You can SAVE hundreds
with this loan

*T&Cs Apply
  • Offset Account
    Yes
  • Redraw Facility
    Yes
  • Additional Repayments
    Yes
  • Loan Type
    1 Year Fixed
  • Min Loan
    Max Loan
    $100,000.00
    No maximum
  • Application Fee
    $300
  • Settlement Fee
    $250
  • Discharge Fee
    $450
  • Internet Access
    Yes
  • LVR
    80%
  • Repayment Type
    Principal & Interest
  • Repayment Type
    Interest Only
  • Loan Splitting
    Yes

Repayments Calculator

The interest rate for the loan.
% p.a.
What is the length of time to repay the loan?
years
How much do you want to borrow?
$
What is the type of the loan?

Principal
& Interest

Interest Only

Your Repayments

  • Weekly
  • Fortnightly
  • Monthly

$1,798.65 per month

Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House’s prevailing credit criteria apply. Please note that your actual fortnightly repayment would be equal to the monthly repayment amount divided by two. Weekly repayments would equal the monthly repayment amount divided by four. If you choose to pay fortnightly or weekly, your actual repayments will be higher than repayments shown on this page. You can reduce the term of your loan if you choose to make repayments fortnightly or weekly. We recommend you seek independent legal and financial advice before proceeding with any loan.

Loan Details

  •  
    Interest Rate
    Comparison Rate
    The Comparison Rate is based on a loan of $150,000.00 over 25 years. Fees and charges may be payable. WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
  • Owner Occupied
    5.07% p.a.
    5.52% p.a.
  • Maximum LVR
    80%
     
  • Minimum Loan Size
    $100,000.00
     
  • Maximum Loan Size
    No maximum
     
  • Fixed Rates
    Yes
     
  • Loan Splitting
    The ability to have many separate accounts under one loan for which there may be multiple purposes, e.g personal and investment splits, fixed and variable splits, etc.
    Yes
     
Repayment Options
  • Principal & Interest
    A loan in which both the principal and the interest are repaid over the term of the loan. Amortisation or amortising is another word for these loans that are gradually being paid off over a set period of time (the loan term). P&I can also be the abbreviation term for Principal & Interest.
    Yes
     
  • Interest Only
    A loan where the borrower elects to make monthly repayments of interest and no principal reductions. You only have to pay the interest charged to your loan. Normally repayments for an interest only will be from 1 – 10 years of the initial loan term with the balance of the loan term then reverting to Principal & Interest repayments. IO can also be the abbreviation term for Interest Only.
    Yes
     
  • Additional Repayments
    Money IN - Allows you to make additional repayments without penalty.
    Yes
     
  • Direct Debits
    Money IN - A direct debit is an automatic payment that is set up to repay your home loan. You specify the frequency and repayment amount as well as the bank or transaction account that the repayment is to be drawn from and this payment will occur automatically on the set due date.
    Yes
     
  • Salary Credit
    Money IN - A manual payment to a loan account either via internet transfer or employee payroll transfer
    Yes
     
  • Direct Credits
    Money IN - The ability for an external party to pay directly into a borrower's loan account
    Yes
     
  • Deposit Card
    Money IN - A card used at the post office to deposit your repayments (they can be your normal repayments that are due or additional repayments)
    Yes
     
  • Bpay In
    Money IN - The ability to pay your loan via a unique biller code from another financial institution
    Yes
     
  • Capitalising of Interest
     
     
  • Line of Credit
     
     
Loan Purpose
  • Purchase
    Where you are buying a property
    Yes
     
  • Refinance
    Where you are looking to move your current loan from one lender to another
    Yes
     
  • Debt Consolidation
    Where you are looking to move multiple loans into one loan
    Yes
     
  • Construction
    Where you are building a new property
    Yes
     
  • Vacant Land
    Where you are purchasing land with no immediate intent to build the new property straight away
    Yes
     
  • Equity Release
    Where you are looking to release cash from equity you have built up in your property
    Yes
     
  • Business Purpose
    Where you are looking to use funds for a business use
    Yes
     
Features
  • 100% Offset Facility
    A non-interest earning account where 100% of the balance is offset against the home loan to reduce the total interest payable.
    Yes
     
  • Redraw Facility
    Money OUT - If you have made any lump sum or additional principal repayments to your loan account in excess of the standard repayment amount, you can access or draw back those extra repayments.
    Yes
     
  • No Monthly Fees
     
     
  • No Package Fee (excluding Stretch Feature)
    No fee to pay each & every year.
    Yes
     
  • No Rate Lock Fee
     
     
  • Stretch Package Feature
    The ability to include a credit card facility at home loan rates into your home loan facility
    Yes
     
  • Low Deposit Option
     
     
  • Toggle Feature
    An innovative new loan feature that allows you to maximise your interest savings through and intelligent offset Toggle system
    Yes
     
  • Relocation Feature
    The ability to purchase you next home prior to you selling your current property
    Yes
     
  • Repayment Sweep of Credit Card
    Money OUT - Allows your loan to automatically clear your credit card linked to this loan back to zero each month.
    Yes
     
  • Internet Access
    The access via the internet to view & administer your home loan.
    Yes
     
  • Phone Access
    The access via the phone to administer your home loan.
    Yes
     
  • ATM / EFTPOS Debit Card
    Money OUT - An ATM card is included on this loan in order for you to withdraw cash or make purchases for living purposes.
    Yes
     
  • 3rd Party Direct Debits
    Money OUT - You can pass your loan account number & BSB to another financial institution in order to take money periodically from your home loan account.
    Yes
     
  • Repayment Required
    Each repayment cycle (normally monthly) a repayment must be made, regardless if you have redraw available in the loan account.
    Yes
     
  • Cheque Book
     
     
  • LMI Premium Capitalisation
    The ability to capitalise the Lenders Mortgage Insurance premium on top of your required loan amount
    Yes
     
  • 3rd Party Protocol Friendly
    Money IN and Money OUT - A payment made to a loan account or an amount taken from a loan account either via internet transfer, employee payroll transfer or by an external party
    Yes
     
  • Loan Switching
    You can switch you loans variable interest rate to a fixed interest rate (subject to the terms and conditions of your loan)
    Yes
     
  • Up to 40 Year Loan Term
     
     
  • Up to 30 Year Loan Term
     
     
  • Up to 25 Year Loan Term
     
     
  • SMSF Loans
     
     
  • Deposit Bond
    A deposit bond acts as a substitute for the cash deposit in between signing a contract and settlement and can be issued for all or part of the deposit amount required, up to 10% of the purchase price. At settlement, the purchaser is required to pay the full purchase price including the deposit.
    Yes
     
  • NRAS Option
     
     
  • Bpay Out
    Money OUT - The ability to pay your loan via a unique biller code to another financial institution
    Yes
     
  • No LMI Premium Payable By Borrower
     
     
  • Mortgage Insurance not Required
     
     
  • Loan Portability
    A feature that enables a home loan to be transferred from one property to another, without refinancing. It can be of benefit by savings on loan set-up fees and government loan security duty.
    Yes
     
Fees
  • Monthly Fee
    No monthly fee
     
  • Package Fee
    No package fee
     
  • Rate Lock Fee
    No rate lock fee
     
  • Application Fee
    $300
     
  • Valuation Fee
    Up to $300 free^
     
  • Settlement Fee
    $250
     
  • Discharge Fee
    $450
     
^Mortgage House will pay up to $300 per property, any excess valuation fees are payable by the borrower(s)
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What home loan rate options do I have?

There are two main kinds of interest rates – fixed and variable. With a fixed rate loan, your interest rate will be fixed for an agreed time, usually between 1 and 10 years. In this case, your rate will be fixed at 5.07% for one year. After that year, the loan will revert to a standard variable loan, but you can speak to our expert lenders about another fixed rate loan if you wish. A variable interest rate loan means the rate can vary – up or down – over the life of the loan. Variable rates can be influenced by a range of internal and external factors, including Reserve Bank decisions to increase or decrease the official cash rate. When the official cash rate changes, or when variable rates change, a fixed rate will stay the same, as long as it is during the fixed period. At Mortgage House, we have a range of both fixed and variable rate loans which can be suitable for your property goals.

What are mere doc home loans?

Loans such as our Advantage – 1 Year Fixed – Mere Doc – Owner Occupied are for those who intend to live in the home they are looking to purchase. They include a range of features that can meet the your needs as a buyer. As a mere doc mortgage, this loan can be suitable if you are self-employed, a contractor or even a freelancer, or you are unable to produce the level of documentation needed when applying for loans, especially when it comes to proof of income. You can self-certify your income with mere doc loans, or have an accountant certify tax records to help with your application. Due to the increased risk to the lender, the interest rate of mere doc loans can be slightly higher than comparable full documentation loans.

You can also connect an offset account to our Advantage – 1 Year Fixed – Mere Doc – Owner Occupied loan, potentially saving you money. An offset account is a non-interest-bearing account that sits alongside your mortgage, with the balance offsetting the loan. Interest is charged on the difference between the two. For example, if you have $20,000 in an offset account, and a loan of $300,000, interest will be charged on $280,000. Speaking of interest, this loan also features access to a Stretch Package, which means you can include a credit card into your mortgage, with home loan rates.

What are the benefits of a fixed rate?

Fixed rate loans can provide many benefits for homeowners. The clearest benefit is security. Fixed interest rates mean your repayments will remain the same, for the agreed period. Knowing exactly what your repayments will be can help with your budgeting. It can also be the security you are after if you are worried about being able to make your mortgage repayments. Taking out a mortgage, especially for the first time, can be stressful. Having fixed payments can help with your peace of mind and take away a little of that stress. Fixed loans also mean that no matter what happens in the world’s economy, your interest rates will remain the same, over the fixed period. While official variable rates are very low now, if they do spike anytime soon, and you have a fixed loan, your rate will remain the same.

Can I make extra fixed repayments?

Even though your repayments are fixed, that doesn’t mean you can’t make extra ones. Some fixed-rate loans penalise you for making extra repayments, but not our Advantage – 1 Year Fixed – Mere Doc – Owner Occupied loan. You can make extra repayments or lump sum payments as you want, as long as you are still making the minimum repayments when they are due. Making extra repayments can save you money, by helping you pay off your loan sooner. If you do, you will save on interest. However, this loan also includes an extra feature around repayments. If you need to, you can withdraw those extra repayments or lump sums to use as you wish. This is called Redraw and is a popular feature of a lot of Mortgage House loans.

What will my mortgage repayments be?

You can find out what your mortgage repayments are likely to be even before you apply for a Mortgage House loan. At the top of all pages promoting our loans is a Repayment Calculator. By entering how much you want to borrow, remembering with this loan you can borrow up to 80% of the value of the property, you can find out what your weekly, fortnightly or monthly repayments can be. This can be a big help when it comes to budgeting and can go a long way to working out whether our Advantage – 1 Year Fixed – Mere Doc – Owner Occupied loan can be suitable for you and your property goals.

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