The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $1,500,000 with an LVR below 90%
The details shown below are for an owner occupier taking out a interest only loan between $150,000 and $1,500,000 with an LVR below 80%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 90% | $150,000 | $1,500,000 |
| | Owner Occupier | Interest Only | < 80% | $150,000 | $1,500,000 |
Owner Occupier (Principal & Interest)
LVR < 90%
Loan: $150,000 $1,500,000
Owner Occupier (Interest Only)
LVR < 80%
Loan: $150,000 $1,500,000
The bcu OMG Home loan has a number of great features, such as a low interest rate from 2.69% (2.69% comparison rate*), flexible repayments and free extra repayments. The loan also comes with two repayment options: interest only and principal and interest. While there are no ongoing fees, there is a $395 discharge fee.
Before jumping into getting a home loan as an owner occupier, you’ll want to decide if you want to make principal and interest or interest only repayments. With this loan, if you decide on principal and interest your rate will be 2.69% (2.69% comparison rate*). While choosing an interest only home loan will leave you with a 3.04% interest rate (3.04% comparison rate*).
With a big financial commitment like a home loan, being able to have a repayment schedule that works for you is critical for keeping your budget in check. The OMG Home Loan gives you flexible options to make this possible, with the ability to make either weekly, fortnightly or monthly repayments.
Getting ahead on your loan by making early repayments is an excellent way to save yourself on interest. And with the bcu OMG Home Loan, you’ll be able to make extra repayments, for free! You’ll even be able to redraw your extra repayments for free too if you decide you need that money back. However, to do so, you’ll need to make a redraw of at least $1,000 at a time.
To be eligible for a loan you’ll need to have a deposit of at least 10%, because of the maximum 90% LVR.
Also, if you are interested in having your account be partially a fixed rate and partially a variable rate, then you’ll be able to sign up for a split account.
The bcu OMG Home Loan is a top low rate option for borrowers who want the flexibility of being able to choose their repayments schedule and make extra repayments to pay their loan off quicker.
Despite the lack of ongoing fees, you’ll need to ensure you budget for the $395 discharge fee.
2.69% p.a.
n/a
n/a
n/a
2.70% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
$0.00
$0.00
n/a
$0.00
$395.00
$150,000
$1,500,000
none
90.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$1,000.00
yes
no
none
none
none
3.04% p.a.
n/a
n/a
n/a
3.05% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$0.00
$0.00
$0.00
$0.00
n/a
$0.00
$395.00
$150,000
$1,500,000
none
80.00%
Owner Occupier
Interest Only
Weekly, Fortnightly, Monthly
yes - free
none
yes - free
$1,000.00
yes
no
none
none
none
Easy to deal with and fast approval.
Read full reviewEasy to deal with and fast approval.
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Read full reviewbcu began in 1970 when a group of north coast banana growers pooled their resources, and formed a credit union. Since those humble beginnings bcu has grown to 54,000 members, and includes 21 stores from the Sunshine Coast to Port Macquarie, plus telephone and Internet banking facilities. bcu is now a division of Police & Nurses Limited after a 2019 merger. bcu has a wide range of personal finance options to simplify your banking, including credit cards, home loans, personal loans, savings and transaction accounts and term deposits.
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