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loans.com.au Variable Home Loan 70

Advertiser disclosure
Rate
3.10% p.a.
Comparison Rate
3.12% p.a.
Service fee
$0.00
Upfront fee
$520
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Mozo editorial review loans.com.au Variable Home Loan 70 - last updated: 9 August 2022

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What's hot
  • 3.10% p.a. (3.12% comparison rate*)
  • No application fee
  • You can make extra payments
What's not
  • Only available for loans up to $1 million
Mozo snapshot

If you're looking for a somewhat lower rate on a variable home loan, online lender loans.com.au has a new loan for those who can manage an LVR of 70%. This great new loan comes with a relatively low interest rate of 3.10% p.a. (3.12% comparison rate*) and has no no application fee and no ongoing fees, should be able to make the 30% initial deposit. 

With this loan, you can borrow between $50,000 to $2,000,000. 

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Key features

Loans.com.au Variable Home Loan 70 comes with a pretty good 3.10% p.a. (3.12% comparison rate) and is available for loans between $50,000 and $2,000,000. The good news is, there is no application or withdrawal fee on this loan. 

Keep in mind it has a maximum Loan to Value Ratio (LVR) of 70%, which means that with 30% of your home’s value as a first deposit, you will qualify for this loan and its lower interest rate. 

Additionally, you can choose to make your repayments weekly, fortnightly or monthly but be sure that you stay on top of your repayments because there is a $150 late payment fee. You are also allowed to make extra repayments.

The minimum loan term is 15 years and maximum is 30 years. This loan is also portable, with redraw and split options available. 


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Who is it good for

People who want a lower rate on their home loan in the current market and can afford a slightly bigger first deposit of 30%. 


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Any catches

You can only borrow up to $2,000,000 and there’s a $150 late payment fee if you fail to make a repayment on time. 

Picture of Amelia Hetherington
Amelia Hetherington
Money writer

Amelia  writes across all areas of personal finance at Mozo.  She studied a Bachelor of Arts majoring in Journalism and Non-Fiction Writing at University and has experience writing for the Sydney Morning Herald. She is passionate about providing accurate and educational advice to all Australians to help them make better financial decisions. 

Details

Rates and fees information correct as at 11 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

3.10% p.a.

n/a

n/a

n/a

3.12% p.a.

n/a

n/a

n/a

n/a

n/a

n/a

n/a

n/a

Fees

$0.00

$0.00

$220.00

$300.00

n/a

$0.00

$0.00

Other financial bits

$50,000

$2,000,000

none

70.00%

Features

Owner Occupier

Principal & Interest

Weekly, Fortnightly, Monthly

yes - free

none

yes - free

none

yes

yes

Offset sub-account available for additional +0.10%. $300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.

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 loans.com.au

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.