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G&C Mutual Bank First Home Buyer Loan

Advertiser disclosure
Rate
4.14% p.a.
Comparison Rate
4.17% p.a.
Service fee
$0.00
Upfront fee
$0

Mozo editorial review G&C Mutual Bank First Home Buyer Loan - last updated: 12 August 2022

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What's hot
  • Low 4.14% p.a. variable interest rate (4.17% p.a. comparison rate*)
  • Offset account available
What's not
  • Only available to first home buyers
Mozo snapshot

G&C Mutual Bank’s First Home Buyer Home Loan is light on fees and comes with variable interest rates as low as 4.14% p.a. (4.17% p.a. comparison rate*). And even though this loan is only available to first home buyers you can borrow up to $5 million as long as your income can meet the repayments.

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Key features

If you’re a first home buyer after an owner-occupier home loan with lots of features to make use of, then you might be interested in G&C Mutual Bank’s First Home Buyer Loan. This home loan comes with an offset account, a redraw facility and the ability to make unlimited extra repayments. Just keep in mind that if you do take advantage of the redraw, there is a $100 minimum and the service does comes with a $30 fee.

The minimum deposit you'll need with this home loan is 5%. Plus if you’re approved for the First Home Loan Deposit Scheme, then you might just be able to avoid paying Lenders Mortgage Insurance on deposits less than 20%. 

Variable interest rates start at a low 4.14% p.a. (4.17% p.a. comparison rate*). And if convenience is a priority, then you’ll be happy to hear that you can apply for this particular home loan online and choose whether to make your repayments weekly, fortnightly or monthly, depending on which frequency suits you.

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Who is it good for

This home loan would be suited to a first time buyer who is keen to take advantage of a lower interest rate and extra features like an offset account.

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Any catches

This home loan is only available for first time buyers looking to take out an owner-occupier loan and make principal and interest repayments. So investors or refinancers won't be able to apply.

Details

Rates and fees information correct as at 13 August 2022. 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

4.14% p.a.

n/a

n/a

n/a

4.17% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

n/a

n/a

n/a

n/a

$0.00

$300.00

Other financial bits

none

$5,000,000

none

95.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

no

yes - fees apply

$100.00

yes

yes

First home buyers only. Legal, valuation and settlement fees 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.

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About G&C Mutual Bank

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.