bcu OMG Home Loan

The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $1,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $1,000,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a interest only loan between $150,000 and $1,000,000 with an LVR below 80%

Choose the version of loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $150,000 $1,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $150,000 $1,000,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $150,000 $1,000,000

3.79% p.a.

3.83% p.a.

$0.00

bcu OMG Home Loan

3.79% p.a.

3.83% p.a.

$0.00

3.85% p.a.

3.89% p.a.

$0.00

bcu OMG Home Loan

3.85% p.a.

3.89% p.a.

$0.00

3.89% p.a.

3.94% p.a.

$0.00

bcu OMG Home Loan

3.89% p.a.

3.94% p.a.

$0.00

Mozo Review   bcu OMG Home Loan Review

Last updated: 24 August 2018.

What's hot:
  • 3.79% interest rate (3.83% comparison rate)

  • Free extra repayments

What's not:
  • $600 application fee

  • $395 discharge fee

Mozo snapshot:

The bcu OMG Home loan has a number of great features, such as a low interest rate from 3.79% (3.83% comparison rate), flexible repayments and free extra repayments. The loan also comes with two options, interest only and principal and interest. While there are no ongoing fees, there is a $600 application fee and a $395 discharge fee.

Key features:

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 3.79% (3.83% comparison rate). While choosing an interest only home loan will leave you with a 3.89% interest rate (3.94% 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 20%, because of the maximum 80% 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.

Who it's good for:

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.

Any catches?

Despite the lack of ongoing fees, you’ll need to ensure you budget for the $600 application fee and $395 discharge fee.

Details

Rates and fees information correct as at 16 October 2018.

Rates
  • 3.79% p.a.

  • n/a

  • 0 Months

  • none

  • 3.83% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $600.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $0.00

  • $395.00

Other financial bits
  • $150,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes - fees apply

  • $1,000.00

  • yes

  • no

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 16 October 2018.

Rates
  • 3.85% p.a.

  • n/a

  • 0 Months

  • none

  • 3.89% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $600.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $0.00

  • $395.00

Other financial bits
  • $150,000

  • $1,000,000

  • 80.00%

  • 90.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes - fees apply

  • $1,000.00

  • yes

  • no

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 16 October 2018.

Rates
  • 3.89% p.a.

  • n/a

  • 0 Months

  • none

  • 3.94% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $600.00

  • $0.00

  • $0.00

  • $0.00

  • none

  • $0.00

  • $395.00

Other financial bits
  • $150,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • none

  • yes - fees apply

  • $1,000.00

  • yes

  • no

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Customer Reviews

How are bcu home loans rated by the Mozo community?

Overall customer rating
7.9/10

Based on 36 bcu home loan reviews

Price
7.4/10
Features
6.7/10
Customer service
8.1/10
Convenience
8.3/10
Trust
8.2/10

Latest review of bcu OMG Home Loan

  • Overall
    6/10
    good

    test

    test

    Price
    8/10
    Features
    -
    Customer service
    8/10
    Convenience
    7/10
    Trust
    8/10

    Name not supplied | New South Wales

    reviewed over 3 years ago

bcu

About bcu

BCU 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 23 branches from Port Macquarie to Beaudesert, a call centre located in northern NSW and Telephone and Internet banking facilities. Profits are returned back to members through loyalty rebates, affordable loans, sponsorships and educational programs. Regardless of where you live in Australia, 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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*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.