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bcu OMG Investment Home Loan

Advertiser disclosure

The details shown below are for an investor taking out a principal & interest loan between $100,000 and $1,500,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan between $100,000 and $1,500,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Investor (Principal & Interest)

    LVR < 90%

    Loan: $100,000 $1,500,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $100,000 $1,500,000

Rate
2.99% p.a.
Comparison Rate
3.00% p.a.
Service fee
$0.00
Upfront fee
$0
Rate
3.09% p.a.
Comparison Rate
3.10% p.a.
Service fee
$0.00
Upfront fee
$0

Mozo editorial review bcu OMG Investment Home Loan - last updated: 26 August 2021

binocular icon
What's hot
  • Interest rate from 2.99% (3.00% comparison rate*)
  • Free extra repayments and redraws
  • No application or ongoing service fees
What's not
  • $395 discharge fee
Mozo snapshot

For investors looking to add a house or apartment to their portfolio, the bcu OMG Investment Home Loan may be the loan to help you do just that. The loan comes with an interest rate from 2.99% (3.00% comparison rate*) for those making principal and interest repayments. It also has flexible repayment options and is available for loans up to $1.5 million. Plus, for loans over $300,000 there is a cashback offer up for grabs (terms and conditions apply). 

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Key features

The bcu Investment Home Loan has a number of great features, but the first thing you may want to look at is the interest rate. If you decide on the principal and interest option, the interest rate is 2.99% (3.00% comparison rate*) for loan-to-value ratios (LVRs) up to 90%, while the interest only option has an interest rate of 3.09% (3.03% comparison rate*) for LVRs up to 80%.

The bcu OMG Investment Home Loan is available for amounts as low $100,000, all the way up to $1,500,000. And don't forget the cashback offer for loans up greater than $300,000! For customers that apply by 30 September 2021, bcu is offering 0.75% of the loan value back in cash (capped at $5,000). This offer is available to new loan customers (either owner occupiers or investors) that have an LVR of 90% or less (T&Cs apply).  

Paying off your loan early can be an excellent way to save yourself on interest, but sometimes extra fees can make doing so a little less appealing. But this isn’t a problem with the bcu OMG Investment Home Loan, as you can make as many extra repayments as you want, for free! Plus, if you need redraw some of these early repayments you can also do so for free, although you’ll need to redraw at least $1,000 at a time.

Finding the right repayment schedule to pay off a home loan and still manage all your other commitments can sometimes be a bit of a pain. However, with the bcu OMG Home Loan, you’ll be able to choose between weekly, fortnightly or monthly repayments, so fitting the repayment to your budget can be as painless as possible.

Another of the features that you may want to take advantage of is the split account feature, which lets you split your mortgage between fixed and variable rates.

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Who is it good for

Investors looking for a loan of up to $1.5 million, with the chance to make additional repayments free of charge might want to take a look at the bcu OMG Investment Home Loan. Also bear in mind that if you borrow with less than a 20% deposit (that is, your LVR above 80%), then you may have to pay Lenders Mortgage Insurance.

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Any catches

While there are no upfront or ongoing fees, when you budget for your home loan, keep in mind the $395 discharge fee.

Details

Rates and fees information correct as at 28 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

2.99% p.a.

n/a

n/a

n/a

3.00% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$395.00

Other financial bits

$100,000

$1,500,000

none

90.00%

Features

Investor

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

none

none

Cashback offer of 0.75% of loan amount, up to $5,000. Loans >$300,000, <90% LVR apply before 30th September 2021.

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 28 October 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

3.09% p.a.

n/a

n/a

n/a

3.10% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$0.00

$0.00

n/a

$0.00

$395.00

Other financial bits

$100,000

$1,500,000

none

80.00%

Features

Investor

Interest Only

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

$1,000.00

yes

no

none

none

Cashback offer of 0.75% of loan amount, up to $5,000. Loans >$300,000, <90% LVR apply before 30th September 2021.

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.

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About bcu

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.