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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
    Variable
  • Min Loan
    Max Loan
    $100,000.00
    No maximum
  • Application Fee
    $300
  • Settlement Fee
    $250
  • Monthly Fee
    $10
  • Discharge Fee
    $450
  • Internet Access
    Yes
  • LVR
    70%
  • 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
    5.97% p.a.
    6.12% p.a.
  • Maximum LVR
    70%
     
  • Minimum Loan Size
    $100,000.00
     
  • Maximum Loan Size
    No maximum
     
  • Fixed Rates
     
     
  • 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
     
     
  • Refinance
     
     
  • Debt Consolidation
     
     
  • Construction
     
     
  • Vacant Land
     
     
  • Equity Release
     
     
  • 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
     
     
  • 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
     
     
  • 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
     
     
  • 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
     
     
  • 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
    Lenders Mortgage Insurance is not required to be paid on this loan product. This could save thousands on the set up of a loan.
    Yes
     
  • Loan Portability
     
     
Fees
  • Monthly Fee
    $10
     
  • 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 are mere doc investment loans?

Loans such as this one can be suitable for people who want to buy an investment property and are self-employed, small business owners, contractors or freelancers. That’s because people with these professions are often unable to provide complete financial statements when applying for full documentation loans. These kinds of loans can allow you to self-certify your income, but you will still need to ensure that you have a good credit rating and credit history. Being a mere doc loan means the interest rate can be higher than full documentation loans, but as you continue making repayments, there can be scope to adjust the interest rate in the future. Because there can be less paperwork involved, approvals can be quicker with loans such as these. If you are unsure what kind of paperwork you will need, contact our expert lenders and they can help you out.

What are the features of these kinds of home loans?

Loans such as this one include a lot of features that can make it suitable for your property needs. As a starting point, you can borrow as little as $100,000, and there is no loan maximum. It allows you to make extra repayments without penalty, which can pay off in the long run. By making additional repayments, you can pay off your loan sooner, which will save on interest. If you want to have access to those repayments, in case you need them at any stage, you can, with our redraw facility. Redraw means you can draw down on those extra repayments, or any lump sum amounts you pay, whenever you want to. But remember that no matter how many extra repayments you make, and when you make them, you still have to meet the minimum monthly or fortnightly repayments schedule. Another popular feature of this loan is that you can link it to an offset account, which can also save on interest. An offset account is a non-interest-earning account, where 100% of the balance is offset against your mortgage. Interest is charged on the difference between the two accounts.

Guarantor for Home Loan

Do I need lenders insurance for investment property loans?

Some investment property loans, and some owner-occupied loans can require you to take out Lenders Mortgage Insurance. LMI can protect the lender, not the borrower, and is quite widespread across Australia. LMI can often be required on mortgages where the Loan-to-Value Ratio is higher than 80%. LVR is the amount you can borrow compared to the value of the property. Most lenders won’t allow you to borrow the full cost of the loan, in usual circumstances. The LVR for this loan is 70%, which means LMI may not be required. Our experienced lenders can help you out if you have any queries about either LMI or LVR.

What are the differences between an investment home loan and an owner-occupied mortgage?

There can be a few differences between investment home loans and conventional owner-occupied loans. Some investment loans may be limited in what purposes you can use them for, and interest rates can differ between the two. The interest rates for investment loans can be slightly higher, to recognise their somewhat higher risk to the bank or lender. Loan terms can also be a bit shorter for investment loans. Alongside every advertised interest rate in Australia will be a comparison rate. Banks and lenders are required to display comparison rates, which are designed to be an indication of the real cost of a loan over its term. Comparison rates can take into consideration any fees and charges that you may pay over the life of the loan. They are not a perfect figure, but they can give you a good indication.

What are the differences between property investment and the share market?

Tens of thousands of Australians use property investment as an effective wealth-creation strategy. There can be lots of reasons to invest in property, including that you are buying something that is an asset you can see and touch, bricks and mortar if you like. While stocks and shares can lose a lot of their value in a very short time, that is unlikely to happen with a property, as it will always be in demand. Property can help you receive a dual income, and is an asset that, in the current market, will continue to grow. If you keep it as a long-term investment, you can receive income from rent, and when you sell it, you can also make a profit. You don’t need to sell it immediately for it to be profitable for you. However, if your investment property doesn’t make a profit straight away, it can help you in other areas, especially when it comes to tax. Negative gearing can help maximise your overall tax refund, and you can offset any loss against your income tax.

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