If you’ve been on the hunt for a new home loan with a competitively low interest rate, today may be your day after online lender loans.com.au dropped a new home loan product - the Smart Home Loan 75.
The loan comes with a fresh variable rate of 2.78% (2.80% comparison rate*), but borrowers must have a maximum LVR of 75%. While saving a 25% deposit may seem like a big ask, this loan isn’t only suited for only future borrowers with a big savings stash. It could also be a great option for someone looking to refinance an existing loan.
So if you’re carrying the baggage of an older, less competitive, interest rate on your current mortgage - it may be worth considering jumping ship and taking advantage of lower home loan rates on the market.
Loans.com.au’s Managing Director, Marie Mortimer says that Aussies that save up a deposit of 25% for a home, ultimately deserve to pay less on their mortgage.
“Pulling together 25% of the value of a home to bring when you buy or refinance is hard work however you do it,” Mortimer said.
“We think borrowers who have done what it takes to start out with 25% of the home’s value up front should get a lower interest rate.”
But if you can’t meet the 75% LVR requirement, don’t fear, loans.com.au still has a low rate home loan option that may suit you - the Smart Home Loan 80. It comes with a low 2.88% variable (2.90% comparison rate*) and you’ll only need an LVR of 80%.
So get started by introducing yourself to loans.com.au’s home loan products!