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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
    $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
    5.25% p.a.
    5.79% 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 is a fixed rate home loan?

There are two types of interest rates – fixed and variable. Fixed rate loans mean your interest rate will be fixed for an agreed period, usually between 1 and 10 years. This loan is fixed for two years. At the end of the fixed period, it will revert to a standard variable loan, unless you negotiate another fixed rate loan. Variable interest rates can change, up or down, over the life of your loan. Both external and internal factors can influence interest rates, including the state of the world or national economy, and the Reserve Bank’s setting of the official cash rate. You can also split some mortgages between both fixed and variable interest rates.

What are the features of fixed home loans like this?

Our Advantage – 2 Years Fixed – Mere Doc – Owner Occupied loan has a range of features that can make it a suitable option for you. It is primarily for people who intend to live in the home they are buying, which means the interest rate may be lower than the comparable loan for those wanting to invest in property. With a minimum loan size of $100,000, this loan can be suitable for a range of different property purchases or refinancing options. Another popular feature of a lot of Mortgage House loans is having access to an offset account to reduce interest. This means you can use a non-interest-bearing account and offset it against your mortgage.

Investment Strategy Options

Interest is charged on the difference between the two accounts, instead of the mortgage account alone. Another feature of our Advantage – 2 Years Fixed – Mere Doc – Owner Occupied loan is that you can make extra repayments. You can be penalised for making extra repayments with some fixed rate mortgages, but not this one. Making extra repayments or lump sum payments when you can has benefits, the biggest one being that you can pay off your loan sooner. Doing that means you save interest. So, paying off more now can save a lot of money later. However, if you want even more flexibility, you can have it, with our Redraw Facility. Redraw simply means that you can draw down on any of those extra repayments or lump sum payments whenever you want, for whatever purpose you want.

What are mere doc fixed rate loans?

If you are self-employed, or a contractor or freelancer, you may struggle to meet the full documentation requirements of applying for a loan. That can especially be the case when it comes to proof of income. Our Advantage – 2 Years Fixed – Mere Doc – Owner Occupied loan is a mere doc loan, which means you don’t need the same level of documentation as you do with full documentation loans. To get around this, mere doc mortgages can require other kinds of documents, such as Business Activity Statements and other tax documents. If you don’t have those, a declaration stating how much you earn can suffice, as can a signed letter from your accountant. Because of the less paperwork, mere doc loans can take less time to approve.

How much can I borrow with a fixed loan?

At Mortgage House we want to make sure all our customers have access to as many resources as possible. Choosing a mortgage can be stressful, and it’s a big decision, whether it’s your first mortgage or your fifth. We want to provide you with the resources you want, not the ones banks and lenders think you should have. Our mortgage calculators are key examples of this. We have a range of calculators that can help make your mortgage decisions easier. A great place to start is with our borrowing calculator. It can give you an indication of how much you may be approved for when you apply for a loan. This figure is only an indication, but it can give you a good picture before you start. It can also help your search for a home. Having an idea of how much you can spend can narrow down your search, and save you time. Our borrowing calculator can also give you an idea of how much your repayments can be, which can give you an even clearer picture of what kind of loan may be suitable.

What are the benefits of fixed repayments?

A fixed rate can help you stick to your budget. Knowing exactly what your repayments will be every fortnight or month can help take any stress out of buying a home. It can give you the peace of mind you are looking for, especially if the market is fluctuating. It also means your repayments won’t be subject to external conditions or influences. The last thing you want to worry about is interest rates increasing if you are concerned about defaulting on you your loan.

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