My Mortgage Freedom Low Rate

My Mortgage Freedom Low Rate Review

What's hot:

• Low variable rates starting at 4.98% (5.51% comparison rate)
• Borrow up to $10 million

What's not:

• $330 yearly service fee
• $250 settlement fee

Mozo snapshot:

As we've come to expect from online home loan providers, the MyMortgageFreedom.com.au Low Rate Variable home loan has amazingly low rates and one of Australia's lowest variable rates at 4.98% (with a LVR of less than 75%). You can borrow as much as 95% of the property's value but the minimum loan amount is $200,000.

Key features:

As the name suggests, the MyMortgageFreedom.com.au Low Rate Variable is an online only home loan so everything from application through to repayments is done over the net so this is a super convenient option if you've got a busy lifestyle.

The low rate variable loan has three rate tiers that are based on the loan to value ratio of your home loan against the property value. If your LVR is less than 75% then you're eligible for Australia's lowest variable rate 4.98% (5.15% comparison rate). If your LVR is between 75% - 90%, you'll get 5.08% and over 90% you'll get 5.19%, which is still one of the better rates on the market.

Loans start at $200,000 and go up to a massive $10,000,000. Flexible repayment options are great for helping manage your budget and with the MyMortgageFreedom.com.au Low Rate Variable you can make your repayments weekly, fortnightly or monthly to time in with your pay cycle.

You can opt for a split account, so if interest rates start going up you can split some of your home loan onto a fixed rate and keep the remainder on a variable rate. There is also the option for free redraws (with no minimum amount requirement) on any extra repayments you make. Of course, the amount you can redraw depends on the how much extra you have paid back. You'll want to focus on those extra repayments when as this will be your only way to reduce your home loan as their is no offset account option. If you are a property investor there is an interest only option for up to 10 years.

There are some standard fees that apply to the the MyMortgageFreedom.com.au Low Rate Variable, starting with the $250 settlement fee. The biggest is the $330 yearly service fee, and at the end of the loan you'll have to pay a $295 discharge fee. But even with these fees, which you're likely to have to pay with any home loan, the Low Rate Loan from mymortgagefreedom will save you a bunch compared with other major lenders whose rates are well over 6%.

Who it's good for:

Anyone looking to net the home of their dreams at a great low variable rate.

Any catches?

This is a variable rate home loan so you can expect for rates to change with the market. Keep your eye on interest rates to make sure the Low Rate Variable Loan is as good a deal next year as it is today.

How are My Mortgage Freedom home loans rated by the Mozo community?

Product Type	Overall	Price	Features	Service	Convenience	Trust
My Mortgage Freedom home loans	10.0 Based on 3 My Mortgage Freedom home loan reviews	10.0	9.0	9.7	9.7	9.7

Read My Mortgage Freedom home loan reviews by the Mozo community

Latest reviews of My Mortgage Freedom Low Rate

• Show Rates

  Excellent rates, wonderful service. Thanks!

  11. Overall customer rating
  12. (Reviewed 10 months ago)

  Really competitive rates, outstanding customer service. The only issue I have is that the online banking facility is not as strong as it could be. But that's not MMF's fault!       Full review 

  Really competitive rates, outstanding customer service. The only issue I have is that the online banking facility is not as strong as it could be. But that's not MMF's fault!

  
  

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  My Mortgage Freedom Low Rate + home loan review by Simon from Victoria 2012-08-06T11:55:53+10:00

  1 person found this review helpful – do you?

  Yes
• Show Rates

  Fantastic Customer Service

  11. Overall customer rating
  12. (Reviewed about 1 year ago)

  This home loan product in comparison to 5 other lenders was by far the most competitive & cheapest. I was surprized by the prompt service i recieved. My loan was settled within 4 weeks and everything was attention to detail. I would highly recomme...       Full review 

  This home loan product in comparison to 5 other lenders was by far the most competitive & cheapest. I was surprized by the prompt service i recieved. My loan was settled within 4 weeks and everything was attention to detail. I would highly recommend MMF.

  
  

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  My Mortgage Freedom Low Rate + home loan review by Rochelle from Victoria 2012-05-22T11:57:04+10:00

  2 people found this review helpful – do you?

  Yes
• Show Rates

  Sharp rates and personalised service

  11. Overall customer rating
  12. (Reviewed about 1 year ago)

  It is a breathe of fresh air to deal with a lender who provides personal service and was impressed with how they went about things. Thanks My Mortgage Freedom. I will be sure to refer my friends and looking forward to the 12 month review service y...       Full review 

  It is a breathe of fresh air to deal with a lender who provides personal service and was impressed with how they went about things. Thanks My Mortgage Freedom. I will be sure to refer my friends and looking forward to the 12 month review service you offer.

  
  

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  My Mortgage Freedom Low Rate + home loan review by Nathan from Victoria 2012-05-16T15:30:23+10:00

  Was this review helpful?

  Yes
• Show Rates

  The best home loan business around!

  11. Overall customer rating
  12. (Reviewed about 1 year ago)

  My Mortgage Freedom are amazing! They have the best customer service and have saved me a lot of $ by switching to them! Thanks       Full review 

  My Mortgage Freedom are amazing! They have the best customer service and have saved me a lot of $ by switching to them! Thanks

  
  

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  My Mortgage Freedom Low Rate + home loan review by Sarah from Victoria 2012-05-02T16:35:14+10:00

  2 people found this review helpful – do you?

  Yes

Currently showing: Low Rate (LVR up to 75%), from $200000 to $10000000 Low Rate (LVR 75-90%), from $200000 to $10000000 Low Rate (LVR 90-95%), from $200000 to $10000000

About My Mortgage Freedom

My Mortgage Freedom is one of Australia's newest home loan providers and mortgage brokers. Fully independent, first home buyers and property investors alike can use My Mortgage Freedom to get a personalised home loan product from a range of lenders around Australia. Best of all, its fast and secure online systems means that customers can quickly apply at a time that suits them.