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Key Features

You can SAVE hundreds
with this loan

*T&Cs Apply
  • Offset Account
  • Redraw Facility
  • Additional Repayments
  • Loan Type
  • Min Loan
    Max Loan
    No maximum
  • Settlement Fee
  • Monthly Fee
  • Discharge Fee
  • Internet Access
  • LVR
  • Repayment Type
    Principal & Interest
  • Loan Splitting

Repayments Calculator

The interest rate for the loan.
% p.a.
What is the length of time to repay the loan?
How much do you want to borrow?
What is the type of the loan?

& 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
    3.64% p.a.
    3.79% p.a.
  • Maximum LVR
  • Minimum Loan Size
  • 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.
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.
  • Interest Only
  • Additional Repayments
    Money IN - Allows you to make additional repayments without penalty.
  • 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.
  • Salary Credit
    Money IN - A manual payment to a loan account either via internet transfer or employee payroll transfer
  • Direct Credits
    Money IN - The ability for an external party to pay directly into a borrower's loan account
  • 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)
  • Bpay In
    Money IN - The ability to pay your loan via a unique biller code from another financial institution
  • Capitalising of Interest
  • Line of Credit
Loan Purpose
  • Purchase
    Where you are buying a property
  • Refinance
    Where you are looking to move your current loan from one lender to another
  • Debt Consolidation
    Where you are looking to move multiple loans into one loan
  • Construction
  • Vacant Land
  • Equity Release
  • Business Purpose
  • 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.
  • 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.
  • No Monthly Fees
  • No Package Fee (excluding Stretch Feature)
  • No Rate Lock Fee
  • Stretch Package Feature
  • Low Deposit Option
  • Toggle Feature
  • Relocation Feature
  • Repayment Sweep of Credit Card
  • Internet Access
    The access via the internet to view & administer your home loan.
  • Phone Access
    The access via the phone to administer your home loan.
  • 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.
  • 3rd Party Direct Debits
  • Repayment Required
    Each repayment cycle (normally monthly) a repayment must be made, regardless if you have redraw available in the loan account.
  • Cheque Book
  • LMI Premium Capitalisation
  • 3rd Party Protocol Friendly
  • Loan Switching
  • 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.
  • NRAS Option
  • Bpay Out
    Money OUT - The ability to pay your loan via a unique biller code to another financial institution
  • No LMI Premium Payable By Borrower
  • Mortgage Insurance not Required
  • Loan Portability
  • Monthly Fee
  • 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
  • Discharge Fee
^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 features of variable loans such as these?

Our Advantage Home Loan 80 (PAYG Special Cat 1) is a variable interest rate loan, which means the interest rates can increase or decrease over the life of the loan. External factors such as the Reserve Bank’s setting of the official cash rate, and internal factors such as the cost of providing and administering the loan, can influence the movement of variable interest rates. The other kind of loan is a fixed rate loan, where interest rates are set for a fixed period, usually between 1 and 10 years. Variable rates are just one of the many features of this loan. It’s an owner occupier loan, which means it is tailored for people who intend to live in the home they are looking to buy. It is also tailored for PAYG employees, which lowers the risk level for lenders. Another key feature of this home loan is that you can access an offset account to help reduce the amount of interest you pay. An offset account is a non-interest-bearing bank account that is offset against your mortgage. Interest is calculated on the difference between the two loans, not just the mortgage amount.

Where can I compare the best variable home loan rates?

Being able to compare variable interest rates can be a very handy asset when you are looking for a variable rate home loan. With so many loans on the market, and even so many Mortgage House loans to choose from, having a quick comparison tool can be important. Our Best Rate Mortgage Calculator can do this job for you. All you need to do is enter the value of the property you are looking to buy, the amount you want to borrow and the loan type. Then choose ‘variable’ and you will be presented with a range of relevant loans, in order from the lowest variable interest rate to the highest. You can also compare fees and repayment options. Another column in the results table will show you the comparison rates of each loan. A comparison rate is an attempt to give you an indication of the full costs of the loan. It takes into account introductory rates and any fees and charges you may pay over the life of the loan. Banks and lenders are required by law to display the correct comparison rate whenever they advertise an interest rate. If choosing a suitable loan is more than just about interest rates, at Mortgage House you can compare all the features, flexibility, fees, details and purposes of all of our loans, one at a time. This is a very easy way to stack them up against each other.

Is Refinancing Worth It

What mortgage calculator options are available?

At Mortgage House, we understand the importance to you of having access to as much information as possible while you are looking for a mortgage for your dream home. We pride ourselves on making available the information our customers tell us they want. Some banks and lenders will only reveal the information they think their customers want. Our mortgage calculators are examples of the kind of information you tell us you want to know. They can be valuable resources at various stages along your property journey. Whether you are looking to compare interest rates, wanting to learn how much you can save by switching loans, or wanting to calculate how much you will pay in stamp duty, our mortgage calculators can help. We have a calculator that can help you with your budgeting and we even have a calculator that can give you an indication of how much money you may be able to borrow. Before you do look at how much you may be able to borrow, it is worth noting that most home loans don’t allow you to borrow the full amount of the property. This mortgage has a Loan-To-Value Ratio of 80%, meaning you can borrow up to 80% of the value of the property.

What will my loan repayments be?

Another of our mortgage calculators is our Mortgage Repayment Calculator. It can tell you how much your repayments will be, whether you make repayments monthly, weekly or fortnightly. This calculator will also give you an indication of how much interest you will pay over the life of your loan, and when you will pay it. This can be a great motivator to help you make extra repayments.

Does this loan include a redraw facility?

Making extra repayments can be a great way to save both money and time. Paying off your mortgage early means paying less interest. However, making extra repayments with some home loans can attract extra fees. Not this one. Our Advantage Home Loan 80 (PAYG Special Cat 1) allows you to make extra repayments or lump sum payments whenever you want, without being penalised. If you are unsure whether your budget will suit you making extra repayments, then you can use our Redraw Facility. Redraw allows you to withdraw any extra repayments you have made over the life of the loan. You can withdraw the money whenever you want, for whatever reason you want, as long as your minimum repayments are up to date.

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