The details shown below are for an owner occupier taking out a principal & interest loan of at least $100,000 with an LVR below 95%
The details shown below are for an owner occupier taking out a interest only loan of at least $100,000 with an LVR below 95%
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% | $100,000 | |
| | Owner Occupier | Interest Only | < 95% | $100,000 |
Owner Occupier (Principal & Interest)
LVR < 95%
Loan: $100,000
Owner Occupier (Interest Only)
LVR < 95%
Loan: $100,000
Looking to enter the property market for the first time? With a 1-year fixed rate of just 1.99% (3.91% comparison rate*) and the potential to borrow with a deposit as low as 5%, the First Home Buyer Fixed Rate Loan (Package) from People's Choice Credit Union could be a competitive option for first home buyers.
As the name implies, the First Home Buyer Fixed Rate Loan (Package) from People's Choice Credit Union (PCCU) has been purpose-built for first time buyers.
Owner occupiers will be able to grab a rate of just 1.99% (3.91% comparison rate*) on loans over $100,000, which is currently one of the lowest 1-year fixed rates in our database. Plus, they’ll be able to borrow with a deposit as low as 5%, though Lenders Mortgage Insurance may apply for deposits below 20%.
While the loan doesn’t come with an offset account or a redraw facility, borrowers will be able to make extra repayments towards their loan balance (capped at $10,000 per year) as well as split the loan into variable and fixed rate portions.
In terms of fees, there are no upfront or application fees to worry about, though there is a $395 annual service fee to consider.
And because this is a package loan, People's Choice Credit Union also provides home loan customers with discounts and fee waivers on a range of other products including credit cards, personal loans and bank accounts.
With it’s super low 1-year fixed rate, lack of upfront fees and flexible deposit requirement, the First Home Buyer Fixed Rate Loan (Package) from PCCU really is made for first time buyers. In fact, one of the loan conditions is that borrowers on the loan must have never previously owned a residential property.
Aside from weighing up the $395 annual service fee, borrowers should also keep in mind that after the 1-year fixed rate period ends the interest rate will revert to a much higher 3.66%. So if the intro term is too short, PCCU’s Fixed Rate Home Loan (Package) with 1-5 year fixed terms could be an alternative.
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n/a
n/a
1.99% (3.91%*)
n/a
n/a
n/a
n/a
n/a
n/a
3.66% p.a.
$0.00
$0.00
$0.00
$0.00
n/a
$395.00 yearly
$350.00
$100,000
none
none
95.00%
Weekly, Fortnightly, Monthly
yes - free up to $10,000 p.a
none
no
none
yes
no
Available for first home buyers only where each borrower on the loan must have never previously owned a residential property.
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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n/a
n/a
n/a
2.74% (4.33%*)
n/a
n/a
n/a
n/a
n/a
n/a
4.21% p.a.
$0.00
$0.00
$0.00
$0.00
n/a
$395.00 yearly
$350.00
$100,000
none
none
95.00%
Weekly, Fortnightly, Monthly
yes - free up to $10,000 p.a
none
no
none
yes
no
Available for first home buyers only where each borrower on the loan must have never previously owned a residential property.
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.
I have nothing else to compare but I think I'm getting taken care of but I'm not sure how much longer they'll be around.
Read full reviewI have nothing else to compare but I think I'm getting taken care of but I'm not sure how much longer they'll be around.
People's Choice Credit Union is a member owned financial institution offering its members a wide range of competitive banking, insurance and investment products and services. Formed through the merger of Savings & Loans and Australian Central, Peoples Choice Credit Union has more than 350,000 members Australia wide. At Peoples Choice Credit Union, its customers are its owners so everything they do is designed to benefit their members.
People's Choice Credit Union
Fixed Rate Home Loan (Package)
p.a.
3.67% p.a.
$395.00 yearly
People's Choice Credit Union
Basic Variable Home Loan
3.68% p.a.
3.69% p.a.
$0.00
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
People's Choice Credit Union
Fixed Rate Home Loan (Package)
2.09% p.a.
fixed 3 years
3.67% p.a.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
People's Choice Credit Union
Fixed Rate Home Loan (Package)
2.09% p.a.
fixed 3 years
3.67% p.a.
loans.com.au
Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
Bank of Queensland
Economy
2.59% p.a.
2.76% p.a.
People's Choice Credit Union
Fixed Rate Home Loan (Package)
2.09% p.a.
fixed 3 years
3.67% p.a.
Bank of Queensland
Fixed Rate
2.09% p.a.
fixed 3 years
3.01% 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.
