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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
  • 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
    5.72% p.a.
    5.76% p.a.
  • Maximum LVR
    80%
     
  • 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
    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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Should I consider property investment?

Whether or not to invest in property can come down to what you are trying to achieve. Whether you are looking to build equity or build a secure income stream, our Advantage Home Loan Investment – Mere Doc may be suitable. Whatever type of property you invest in can depend on your investment strategy and disposable income. A great place to start can be by understanding your income, assets and expenses, and how much money you can commit to each fortnight or month. Speak with our experienced lenders, and we can help find a suitable loan for your investment needs, whatever they may be.

What are the features of these types of investment property home loans?

Investment property home loans such as our Advantage Home Loan Investment – Mere Doc have a range of features that can make them suitable for a variety of different investors and home buyers. As a mere doc loan, this mortgage can be suitable for those who are self-employed, small business owners, freelancers or contractors. That’s because it’s designed for those who may not be able to provide the full documentation usually needed when applying for a loan, especially when it comes to proof of employment or income. You can self-certify your income, but you will still need to have a good credit rating. This loan also features the ability to access an offset account. An offset account is a regular account, but one that does not bear any interest. You can use the account to offset your mortgage, and you will only be charged interest on the difference. This can save you money. Paying off your mortgage sooner can also save you money, and our Advantage Home Loan Investment – Mere Doc loan allows you to make extra repayments. Those repayments can also be accessed, if you want, through our redraw facility. That means you can withdraw any extra repayments or lump sums you pay in over the life of your loan.

What are mortgage calculators and how do they work?

At Mortgage House, we believe in giving you access to as many resources as possible, whether you are buying an investment property or the home of your dreams. Our range of mortgage calculators is a great place to start when you are looking for a suitable loan. You can find out how much we might be able to lend you with our special borrowing calculator. Make sure you enter your income and expenses as accurately as you can, so we can give you a fair indication of the possibilities. Once you have done that, our Best Rate Mortgage Calculator can help you find the best rate for the amount you want to borrow, and the type of loan you are looking for. We also have a calculator that can give you an indication of how much your mortgage repayments may be, and a calculator that can help you calculate the amount of stamp duty you may have to pay. Our Switching Mortgage Calculator can give you an indication of how much you may be able to save if you switch loans, and we even have a calculator that can lay your budget out in an easy-to-understand way. These tools can help you save for a deposit, and give you a picture of how much spare room you have in your current budget for mortgage repayments. The important thing to remember about all these calculators is that they are only a guide, but can give you a good indication, as long as the information you put in is as correct as it can be.

How do I compare home loans?

Another important Mortgage House resource is the ability to compare our mortgages in the one spot. Whether it’s investment or owner-occupied loans you are after or fixed or variable rate loans, being able to see them alongside each other can be a big help. While comparing interest rates and repayment amounts is okay, being able to compare all the details of every one of our loans is almost priceless. Whether it’s the individual features, the Loan-to-Value Ratios, the amount you can borrow, or the different ways you can make repayments, being able to lay them out, side by side can be of invaluable help when it comes to making a decision.

Is an Australian mortgage secure?

While the Global Financial Crisis impacted heavily on a lot of the world’s housing markets, Australia escaped most of the immediate fallout. Our strong banks, lenders, and mature fiscal policy shielded the markets from devastation. Property prices are continuing to grow across most of Australia, and investment in property is always attractive for those who can afford it. At the moment, interest rates are low, which can add to the attraction, and competition between banks and lenders is fierce.

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