Apply Anywhere, Anytime!

Enjoy the convenience and flexibility of our simple online application.

Apply Online

Talk to a Lending Specialist

Book a Call Back

Key Features

You can SAVE hundreds
with this loan

*T&Cs Apply
  • Offset Account
    Yes
  • Redraw Facility
    Yes
  • Additional Repayments
    Yes
  • Loan Type
    3 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. 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
    5.38% p.a.
    5.74% 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)
Fast track your home loan
Apply Online Book a Call Back
133 144

What does a mere doc fixed rate home loan mean?

Our Advantage - 3 Years Fixed - Mere Doc is a loan for owner-occupiers, not those investing in property. Mere doc loans are loans for those who may be unable to provide full financial statements or other evidence of income when applying for a loan. Mere doc loans can help you if you are self-employed, a business owner, contractor or freelancer. You can self-certify your income without needing to provide employment proof, but you will still need to have a good credit rating and credit history. Interest rates tend to be slightly higher for mere doc loans, to compensate for the increased risk, but interest rate discounts can apply after a period of regular loan repayments. The amount of paperwork required can be less, and therefore the approvals process can be quicker. Make sure you check with our expert lenders to work out exactly what paperwork you will need.

Apart from fixed loan repayments, what other features come with this loan?

This fixed interest rate mortgage has a range of features that can benefit you over its life. It is fixed for three years, and after that, it will revert to a standard variable rate loan unless you renegotiate another fixed-rate term. Another feature of this loan is you can attach it to an offset account. An offset account is a non-interest-earning bank account you can use to offset the amount of interest you pay on your mortgage. All the balance of that account is offset against your mortgage, meaning you only pay interest on the difference. Over the life of your loan, you could save a lot of money. Unlike some other fixed-term mortgages, you can make additional repayments without attracting a penalty, and you can access those extra payments when you want, through what’s called a redraw facility. You can have access to any lump sum or extra repayments you have made if you need to. This can add extra flexibility to your mortgage and can help you save money in the long term. The minimum loan size is $100,000, and you can use it for a range of different property purposes, outside of investment, such as refinancing your current mortgage, buying a vacant block, and building your dream home.

What will my mortgage repayments be?

It is easy to find out what you can pay in mortgage repayments with our Advantage – 3 Years Fixed – Mere Doc loan. All you need to do is enter the information into the mortgage repayment calculator above, as accurately as you can. The results are only a guide but can give you a clear indication. The results will also give you weekly, fortnightly and monthly repayment amounts, and will provide you with the approximate interest you will pay over the life of the loan. Remembering that this loan can revert to a standard variable rate at the end of the three-year fixed term, you can change the repayment calculator to the current standard variable interest rate and work out the difference between the two repayment options. Yes, the variable rate can change at any time, and may well do over your fixed term, but it can ensure there are no big surprises when that term is up. If you choose to pay your loan as an interest-only mortgage, our repayment calculator can also tell you what your repayments may be.

How does a fixed loan work?

Fixed mortgage rates are what they sound like they will be. The interest rate is fixed for an agreed period, usually between 1 and 10 years. Fixed rate loans mean you know exactly how much your repayments will be, for the fixed term. This can make budgeting easier, which can be important for those who don’t have a lot of room to move. With variable interest rates being so low, if the Reserve Bank spikes them in the near future, then those who have a fixed loan at the time will be immune, which is always great news. It is possible variable interest rates will never be this low again, so now may be the perfect opportunity to fix your rates and take advantage of the current situation.

What other interest rates are available?

As has been mentioned above, the other main type of interest rate is a variable interest rate. Variable rates can move at any time, either up or down, over the life of a loan depending on either external or internal factors. The Reserve Bank, moving to cut the official cash rate – which is the overnight rate it charges banks to borrow– based on the state of the national or international economy, is perhaps the largest influence on variable rates. The internal costs of a bank or lender in providing the loan to you is another significant influence on the variable rate level. At Mortgage House we are proud of how our interest rates compare to those of the major banks.

Need More Information?