Can I Get a Home Loan with a 1.99% Rate?
Homebuyers will find that several lenders offer a 1.99% rate as an introductory promotion. Mortgage House offers introductory rates and promotions too. In addition, we offer a mortgage product that carries a 1.99% rate.
We designed our Chameleon Freedom Home loan for owner-occupiers. In addition to the attractive rate, it has other features including:
- Offset account
- Additional repayments
- Redraw facility
- Variable interest
The maximum loan-to-value ratio is 70%. Therefore, applicants must find alternative ways to fund the remaining 30%. For example, they can place a 20% deposit and collateral worth the remaining 10%. If coming up with the remaining 30% is still a challenge, our Mortgage House loan specialists have access to proprietary tools that help them sift through several products efficiently.
A 70% LVR means that the homebuyer will have to make some concessions. However, the rate is attractive. Mortgages of $300,000 with a 1.99% over 30 years net a monthly repayment of $1,100. If the interest rate starts at 3% instead, the homeowner would have a monthly repayment of $1,264. Some homeowners will pick the lower repayment so that they can get their finances in order, especially the first two to three years.
Try our online Mortgage House mortgage calculator for free.
Mortgages with a 1.99% Rate Conclusion
A 1.99% rate is among the most attractive. The lower the interest rate, the lower the monthly repayment. To find out if you qualify for the Mortgage House Chameleon Freedom Home loan, contact our loan specialists. If this is not the best mortgage for your financial circumstances, our team can explore better options too.