The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 95%
The details shown below are for an owner occupier taking out a interest only loan of at least $150,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest loan of at least $150,000 with an LVR below 90%
The details shown below are for an investor taking out a interest only loan of at least $150,000 with an LVR below 90%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
|
|
Owner Occupier | Principal & Interest | < 95% | $150,000 | |
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Owner Occupier | Interest Only | < 80% | $150,000 | |
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Investor | Principal & Interest | < 90% | $150,000 | |
|
|
Investor | Interest Only | < 90% | $150,000 |
Owner Occupier (Principal & Interest)
LVR < 95%
Loan: $150,000
Owner Occupier (Interest Only)
LVR < 80%
Loan: $150,000
Investor (Principal & Interest)
LVR < 90%
Loan: $150,000
Investor (Interest Only)
LVR < 90%
Loan: $150,000
The Fixed Rate (Wealth Package) home loan from the Commonwealth Bank could be an appealing option for borrowers looking to lock in a fixed rate for the short term - particularly those with a low deposit. There is a $2,000 cashback offer for refinancers who apply before 31 December, 2022 and have their loan funded by 31 March, 2023. The minimum refinance amount is $250,000 and eligibility criteria applies. This offer is not available for Bridging Loans.
The Fixed Rate (Wealth Package) from the Commonwealth Bank is available to both owner occupiers and investors borrowing over $150,000, with principal and interest and interest-only repayment options available to both.
Like most home loans, the lowest rates on offer are for owner-occupiers and these currently start from just 4.99% for 1-year fixed terms (5.93% comparison rate*), 5.79% for 2-year terms (6.03% comparison rate*) and 4.99% for 4-year terms (5.77% comparison rate*).
On the other hand, investors will be able to access fixed rates from just 5.09% for 1-year fixed terms (6.45% comparison rate*), 5.89% for 2-year terms (6.50% comparison rate*) and 6.59% for 3-year terms (6.59% comparison rate*).
The Fixed Rate (Wealth Package) may also appeal to first home buyers, as the loan comes with a low deposit requirement of just 5% for owner occupiers making principal and interest repayments. It’s worth bearing in mind that low deposit borrowers will likely be required to pay Lenders Mortgage Insurance though.
Speaking of repayments, borrowers will be able to make their mortgage repayments on a weekly, fortnightly or monthly basis, and they’ll also have the ability to make extra repayments towards their loan for free (capped at $10,000 a year).
However, while the loan does come with a $395 annual fee, it doesn’t provide some of the features borrowers might enjoy having access to such as the ability to withdraw their extra repayments through a redraw facility and to make use of an offset account.
Borrowers may also want to consider the $200 settlement fee, legal fees (which is charged at cost) and $350 discharge fee attached to the loan.
If you are refinancing, there is a $2000 cashback offer for refinancers who apply before 31 December, 2022 and have their loan funded by 31 March, 2023. The minimum refinance amount is $250,000 and eligibility criteria applies. Just keep in mind this offer is not available for Bridging Loans.
The Commonwealth Bank’s Fixed Rate (Wealth Package) could be a competitive option for a number of borrowers, including those looking to lock in a fixed rate for a few years or first time buyers with a low deposit.
Borrowers should budget for the yearly $395 fee and remember that once the fixed interest rate period expires the loan will switch over to the much higher 5.60% revert rate.
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n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
4.99% (5.92%*) |
|
|
5.79% (6.02%*) |
|
|
6.39% (6.20%*) |
|
|
4.99% (5.77%*) |
|
|
6.69% (6.46%*) |
|
|
n/a |
|
|
n/a |
|
|
5.60% p.a. |
|
$0.00 |
|
|
n/a |
|
|
$0.00 |
|
|
$200.00 |
|
|
n/a |
|
|
$395.00 yearly |
|
|
$350.00 |
|
$150,000 |
|
|
none |
|
|
none |
|
|
95.00% |
|
Weekly, Fortnightly, Monthly |
|
|
yes - free up to $10,000 p.a. |
|
|
no |
|
|
no |
|
|
none |
|
|
yes |
|
|
no |
|
|
Legal fees charged at cost. |
|
|
none |
|
|
$2,000 cashback for refinancers who apply before 31 December 2022 and have their loan funded by 31 March 2023. Minimum refinance amount $250,000. Eligibility criteria applies. This offer is not available for Bridging Loans. |
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.
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
5.79% (6.00%*) |
|
|
6.44% (6.14%*) |
|
|
6.84% (6.32%*) |
|
|
7.04% (6.48%*) |
|
|
7.14% (6.62%*) |
|
|
n/a |
|
|
n/a |
|
|
6.09% p.a. |
|
$0.00 |
|
|
n/a |
|
|
$0.00 |
|
|
$200.00 |
|
|
n/a |
|
|
$395.00 yearly |
|
|
$350.00 |
|
$150,000 |
|
|
none |
|
|
none |
|
|
80.00% |
|
Weekly, Fortnightly, Monthly |
|
|
yes - free up to $10,000 p.a. |
|
|
no |
|
|
no |
|
|
none |
|
|
yes |
|
|
no |
|
|
Legal fees charged at cost. |
|
|
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.
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
5.09% (6.44%*) |
|
|
5.89% (6.50%*) |
|
|
6.59% (6.68%*) |
|
|
6.79% (6.78%*) |
|
|
6.89% (6.87%*) |
|
|
n/a |
|
|
n/a |
|
|
6.18% p.a. |
|
$0.00 |
|
|
n/a |
|
|
$0.00 |
|
|
$200.00 |
|
|
n/a |
|
|
$395.00 yearly |
|
|
$350.00 |
|
$150,000 |
|
|
none |
|
|
none |
|
|
90.00% |
|
Weekly, Fortnightly, Monthly |
|
|
yes - free up to $10,000 p.a. |
|
|
no |
|
|
no |
|
|
none |
|
|
yes |
|
|
no |
|
|
Legal fees charged at cost. |
|
|
none |
|
|
$2,000 cashback for refinancers who apply before 31 December 2022 and have their loan funded by 31 March 2023. Minimum refinance amount $250,000. Eligibility criteria applies. This offer is not available for Bridging Loans. |
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.
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
5.39% (6.47%*) |
|
|
6.19% (6.55%*) |
|
|
6.69% (6.69%*) |
|
|
6.89% (6.80%*) |
|
|
6.99% (6.88%*) |
|
|
n/a |
|
|
n/a |
|
|
6.44% p.a. |
|
$0.00 |
|
|
n/a |
|
|
$0.00 |
|
|
$200.00 |
|
|
n/a |
|
|
$395.00 yearly |
|
|
$350.00 |
|
$150,000 |
|
|
none |
|
|
none |
|
|
90.00% |
|
Weekly, Fortnightly, Monthly |
|
|
yes - free up to $10,000 p.a. |
|
|
no |
|
|
no |
|
|
none |
|
|
yes |
|
|
no |
|
|
Legal fees charged at cost. |
|
|
none |
|
|
$2,000 cashback for refinancers who apply before 31 December 2022 and have their loan funded by 31 March 2023. Minimum refinance amount $250,000. Eligibility criteria applies. This offer is not available for Bridging Loans. |
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.
I like this Bank because it is trustworthy. I could get lower rates elsewhere but they were prepared to negotiate when asked so I was happy with that. The only problem was that it took 3 phone calls to reduce my interest rates. The third person I spoke to offered to split my loan and fix a portion of it which gave me a lower interest rate. This was great but annoying that the other two employees did not suggest this to me when I had spoken to them several months to a year earlier.
Read full reviewI like this Bank because it is trustworthy. I could get lower rates elsewhere but they were prepared to negotiate when asked so I was happy with that. The only problem was that it took 3 phone calls to reduce my interest rates. The third person I spoke to offered to split my loan and fix a portion of it which gave me a lower interest rate. This was great but annoying that the other two employees did not suggest this to me when I had spoken to them several months to a year earlier.
Everything on point.
Read full reviewEverything on point.
Wow, wow and wow. Smoothest property purchase ever with lowest rates for investment loans I have ever had. The CBA lender was wonderful, so accommodating. She explained all my options in a way I understood and easy knew my best way forward. Worked seamlessly with the real estate and solicitor. No hiccups in whole process almost as easy as purchasing a cup of coffee. Thanks CBA.
Read full reviewWow, wow and wow. Smoothest property purchase ever with lowest rates for investment loans I have ever had. The CBA lender was wonderful, so accommodating. She explained all my options in a way I understood and easy knew my best way forward. Worked seamlessly with the real estate and solicitor. No hiccups in whole process almost as easy as purchasing a cup of coffee. Thanks CBA.
It was the worst decision to go with Comm bank for home loan. We directly went to the bank for home loan to save our time on the home loan process but it backfired us. Cons Extremely slow process. Hard to get into the call with the broker who is handling the process No proper email response No proper document check. Asking document again and again without checking. Reply like "We have other clients as well". (I am sorry that's your job. if you can't do it in time give us time estimation we will go to another bank) No value for the client's time and money. Pros Hasn't found it yet
Read full reviewIt was the worst decision to go with Comm bank for home loan. We directly went to the bank for home loan to save our time on the home loan process but it backfired us. Cons Extremely slow process. Hard to get into the call with the broker who is handling the process No proper email response No proper document check. Asking document again and again without checking. Reply like "We have other clients as well". (I am sorry that's your job. if you can't do it in time give us time estimation we will go to another bank) No value for the client's time and money. Pros Hasn't found it yet
I have been with CommBank over 9 years. They're just there to make money as they are not looking after their costumers. If I were in a position to refinance I would have gone to different banks.
Read full reviewI have been with CommBank over 9 years. They're just there to make money as they are not looking after their costumers. If I were in a position to refinance I would have gone to different banks.
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3.60% p.a.variable for 24 months and then 4.00% p.a. variable
3.96% p.a.
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Smart Booster Home Loan
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3.96% p.a.
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Smart Booster Home Loan
3.60% p.a.variable for 24 months and then 4.00% p.a.
3.96% p.a.
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.
