Important disclosure
Calculate your repayments for this loan
Your estimated repayment
$3,188
based on $500,000 loan amount for 25 years at 5.89%
Pros and cons
For Simple Home Loan (Principal and Interest) (LVR < 70%)
Benefits
- Interest rates ranked in the best 20%
- No upfront or ongoing fees
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- No offset account
- Discharge fee at end of loan
- Maximum loan amount is limited to 70% of the property's value
- No repayment holidays
First Option Bank Variable Rate Home loan overview
For Simple Home Loan (Principal and Interest) (LVR < 70%)
Details
Maximum LVR 70% | Total Repayments $956,391 |
Interest rate type Variable | |
Borrowing range
$0
-
$100m
| Suitable for Owner Occupiers |
Loan term range 1 - 30 years | Repayment type Principal and Interest |
Applicable states ACT, NSW, NT, QLD, SA, TAS, VIC, WA | |
Target Market Determination Visit First Option Credit Union Limited to view Target Market Determination. |
Features
Extra repayments Unlimited extra repayments | Redraw facility Redraw fee: $0 |
Offset account No | Split interest facility |
Loan portable | Repayment holiday available |
Allow guarantors | Available for first home buyers |
Other benefits |
Fees
Total estimated upfront fees $0 | Application fee $0 |
Legal fee $0 | Valuation fee $0 |
Settlement fee $0 | Other upfront fee $0 |
Ongoing fee $0 | Discharge fee $175 |