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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
    2 Years Fixed
  • Min Loan
    Max Loan
    $500,000.00
    No maximum
  • Settlement Fee
    $449
  • Monthly Fee
    $10
  • Discharge Fee
    $450
  • Internet Access
    Yes
  • LVR
    70%
  • Repayment Type
    Principal & Interest
  • 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. 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
    3.87% p.a.
    4.03% p.a.
  • Investor LOAN DETAILS
    4.5% p.a.
    4.85% p.a.
  • Maximum LVR
    70%
     
  • Minimum Loan Size
    $500,000.00
     
  • 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
     
     
  • 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
     
     
  • Construction
     
     
  • Vacant Land
     
     
  • Equity Release
    Where you are looking to release cash from equity you have built up in your property
    Yes
     
  • Business Purpose
     
     
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
    $10
     
  • Package Fee
    No package fee
     
  • Rate Lock Fee
    No rate lock fee
     
  • Application Fee
    No application fee
     
  • Valuation Fee
    Up to $300 free^
     
  • Settlement Fee
    $449
     
  • 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 are the benefits of fixed loans?

Fixed home loans can have big benefits, whether you’re intending to live in the home you are looking to purchase or whether you’re looking to buy an investment property. The biggest benefit with fixed rate loans is stability. Fixed rate loans work by fixing your interest rate for an agreed period, usually between 1 and 10 years. In the case of this mortgage, it’s 2 years. Fixing interest rates means you will know exactly what your repayments will be over that period. The alternative is a variable rate loan. Variable rates can increase or decrease over the life of the loan, and are influenced by a range of factors, both external and internal. Fixing interest rates means you are the master of your own domain. You will know exactly how much you will pay, and when. Having that kind of security can make budgeting easier. You can also save on interest with this Advantage - 2 Year Fixed loan by linking it to an offset account. An offset account is a non-interest-bearing bank account that allows you to offset your mortgage account for interest purposes. Interest is calculated on the difference between the two accounts, rather than just what’s in your home loan account.

Are there many differences with investment loans?

Investment loans can be a little different than owner occupier loans, but that’s because they can come with a little higher risk for banks or lenders. That can result in a slightly higher interest rate for comparable loans. However, the differences aren’t that large, and a lot of the features of an owner occupier mortgage will be the same as an investment loan. There are many benefits to investing in property, especially in the current market. Buying an investment property can be quite lucrative over both the short and long term. If you have chosen well, you will immediately start to receive an income, in the form of rent.

As has been the case in Australia for a long time now, not only will you receive income, but your investment property can also increase in value. There aren’t too many investments where you receive both immediate income and long-term value growth. Property can also be less volatile than the share market. It is unlikely most of the value of an investment property will ever be lost overnight, as can sometimes be the case with shares. And, of course, property is an investment you can see and touch, which is important to a lot of people. Finally, whether you lose or make money on your investment property, you can still come out on top. If your income is strong, you can start making money immediately and increase your cash flow. If ongoing costs or a slow market mean you lose money on your investment in the short term, you can claim tax benefits through negative gearing.

What can I find out from a mortgage calculator?

Having access to as many resources as possible when you are looking to buy a property is important. At Mortgage House, we have a number of resources that can help answer any questions you have about property investment or ownership, and our expert lenders are on hand to offer help when you need it. We also have a range of mortgage calculators that can come in very handy before, during and even after your property search. We have calculators that can give you an idea of how much you might be able to borrow, and what your repayments will be for different sized loans and different interest rate levels. Our calculators can also help you with stamp duty calculations, and help to work out how much money you can save if you switch mortgages. We also have a mortgage calculator to help you budget, and one that can find the best interest rates among all our Mortgage House loans. We listen to our customers and give them access to resources they tell us they want. Some banks and lenders only give their customers access to the resources they think they need.

Can I make extra loan repayments if I want?

As we mentioned above, one of the key benefits of a fixed rate loan is that you will know exactly what your repayments will be over the agreed period. Another of the key benefits of this loan is that you can make additional repayments, if you want to, without being penalised. That can help save you money, by helping you pay off your loan sooner. Paying off your loan sooner means you will pay less interest. Another key feature of this loan is that you can access, or drawdown, those extra repayments if you wish, for whatever purpose you wish. Redraw allows you to withdraw the extra repayment or lump sums, provided your minimum repayments are up to date.

Can I use this loan for equity release?

This home loan can be used to release equity in your home. Equity is the amount you have built up over time by paying off your current mortgage. Equity is the difference between what your home is valued at on today’s market, and how much you still owe on your mortgage. For example, if your home is worth $400,000 and you have paid off $200,000, the equity amount is $200,000. Bear in mind though, that most banks and lenders will let you borrow up to 80%of the value of your property, so you may not be able to borrow the full $200,000. You could use the equity for minor renovations, or even to purchase an investment property.

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