Essential Home Loan
The
highly awarded
Mortgage House Essential home loan is available in three different mortgage
interest rates according to loan size, providing extra savings for greater
mortgage amounts.
Essential Home Loan
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Choose from a Fixed , Variable or Split home loan. (Now also available as a
Toggle Offset Home Loan!)
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Available for loan amounts above $10,000.00.
No maximum loan amount.
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Loan can be used for construction
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Available as a Full Doc and Lo Doc home loan
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Borrow up to
80%
of the property value
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100% interest offset account
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Up to 30 years
home loan terms
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Available as an Interest Only loan
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Includes a Visa card
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FREE Home loan application and property valuation (for a limited time)
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Variable RatesProduct Name | Interest Rate | Comparison Rate | Loan Amounts | Essential Home Loan | 6.49% p.a. | 6.51% p.a. | For amounts greater than $10,000.00 | Essential Plus Home Loan | 6.44% p.a. | 6.46% p.a. | For amounts between $250,000.00 and 650,000.00 | Essential Max Home Loan | 6.44% p.a. | 6.46% p.a. | For amounts greater than $650,000.00 |
Fixed RatesProduct Name | Interest Rate | Comparison Rate | Essential - 1 Year Fixed | 6.17% p.a. | 6.92% p.a. | Essential - 2 Years Fixed | 6.28% p.a. | 6.85% p.a. | Essential - 3 Years Fixed | 6.40% p.a. | 6.80% p.a. | Essential - 4 Years Fixed | 6.59% p.a. | 6.91% p.a. | Essential - 5 Years Fixed | 6.80% p.a. | 6.94% p.a. |
The Comparison Rate for each of the home loan products contained in this page is based on a loan of $150,000 over a 25 year term. 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.
Features
The Mortgage House Essential Home Loan Range includes the following features:
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No ongoing fees for the life of the loan
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100% offset capability on both Fixed and Variable mortgages
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Available for loan amounts above $10,000.00.
No maximum loan amount.
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Borrow up to
80%
of the property value
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Includes a Visa card
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$20 worth of free transactions per month
Options
Available options on the Mortgage House Essential Home Loan:
A Progressive Fixed Rate home loan allows you to make extra mortgage repayments
(without incurring a fee) on a Fixed Rate home loan. This provides you with
peace of mind knowing that your interest rate will not increase and gives you
the flexibility to reduce both your principal and loan term, saving you on
interest and paying off your home loan sooner.
How does this work: If you have a $300,000 loan fixed at 8% p.a. for 3 years and
an offset account with $15,000. Your interest will be charged at 8% p.a.
(fixed) on only $285,000 (progressive).
Suitability
The Mortgage House Essential Home Loan range is suitable for:
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First home buyers and next home buyers
that want a low mortgage interest rate and the ability to use their home loan
like a bank account with a BSB and account number, including a Visa card
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Homeowners wanting to refinance their current home loan and
who may also want to start an investment property
portfolio by accessing the equity in their home
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Customers looking to refinance with the purpose of debt consolidation enabling
them to make one loan repayment per month
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Customers looking for a fixed rate home loan
and wanting the flexibility of an offset account and ability to make additional
mortgage repayments without incurring additional fees
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Customers looking to build their home and require a construction loan
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Companies and Trusts
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Self employed customers with an ABN who require the extra
flexibility of VISA facilities at standard home loan rates
Access
The Mortgage House Essential Home Loan provides the following options in
accessing your funds:
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Credit card sweep - this allows you to automatically clear your credit card and
pay recurring bills every month from your mortgage account. To maximise the
interest saving benefits of having your income paid directly into your home
loan, simply pay your bills and carry out your normal banking transactions
through the credit card, which is automatically cleared at the end of the month
and added to your home loan.
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3rd party protocol friendly - allows organisations to automatically debit from
your account, ie pay phone bill
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VISA card available on request (linked to your home loan)
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BPay out (money directly out of your home loan)
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Debit card - allows you access to your money from an ATM
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Same day redraw for quick access to your funds
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Unlimited Free Internet Redraws (to nominated account)
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Pay-Anyone (EFT) (money directly out of your home loan)
Repayments
The Mortgage House Essential Home Loan offers the following repayment methods:
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Free direct credit - available to any 3rd party institution
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Free direct salary crediting - you can deposit all or part of your pay into
your home loan account weekly, fortnightly or monthly
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Unlimited free direct debit - borrowers can have their home loan repayment
drawn from a nominated bank account weekly, fortnightly or monthly
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Australia Post deposit (money directly credited to your home loan)
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Bpay In (money directly credited to your home loan)
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Principal and Interest home loan repayments available up to 30 years
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Interest Only home loan repayments available up to 10 years
Where to go from here:
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