The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 70%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 90%
The details shown below are for an owner occupier taking out a principal & interest loan of at least $20,000 with an LVR below 90%
The details shown below are for an investor taking out a principal & interest loan of at least $20,000 with an LVR below 90%
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 | < 70% | $20,000 | |
| | Owner Occupier | Principal & Interest | 70%-80% | $20,000 | |
| | Owner Occupier | Principal & Interest | 80%-90% | $20,000 | |
| | Owner Occupier | Principal & Interest | < 90% | $20,000 | |
| | Investor | Principal & Interest | < 90% | $20,000 | |
| | Investor | Principal & Interest | < 90% | $150,000 | |
| | Investor | Interest Only | < 90% | $150,000 |
Owner Occupier (Principal & Interest)
LVR < 70%
Loan: $20,000
Owner Occupier (Principal & Interest)
LVR 70%-80%
Loan: $20,000
Owner Occupier (Principal & Interest)
LVR 80%-90%
Loan: $20,000
Owner Occupier (Principal & Interest)
LVR < 90%
Loan: $20,000
Investor (Principal & Interest)
LVR < 90%
Loan: $20,000
Investor (Principal & Interest)
LVR < 90%
Loan: $150,000
Investor (Interest Only)
LVR < 90%
Loan: $150,000
If you’re a Queenslander looking to break the back of your mortgage, RACQ Bank’s 2020 Mozo Experts Choice Award winning Mortgage Breaker Loan could be what you’re looking for.
Available to investors and owner occupiers with a Queensland residential address, this home loan has all the features you want like a competitive interest rate, offset account and no account keeping fees. You’ll need to take into account the $395 annual package fee so be sure that you’ll use the offset facility and other benefits to their full advantage so that you get the best possible value from the loan.
With the Mortgage Breaker Choices Package interest rates are tiered depending on a number of factors: how much you’re borrowing, the amount of deposit you’ve got towards the property, if you’re buying an investment property and whether you’re making interest only or principal and interest repayments.
The maximum loan to value ratio for both owner occupiers and investors is 90%. There is a minimum loan amount of $150,000 and a maximum loan term of 30 years.
Other features that come with the loan include the ability to split the loan between fixed and variable rates, and the ability to make repayments either weekly, fortnightly or on a monthly basis. Plus, you can make extra repayments without paying extra fees.
The $359 annual package fee is standard for packaged loans, and includes extra benefits like a fee free platinum credit card and additional interest on any term deposits you have with RACQ Bank.
When you’re approved for a loan you’ll automatically become a member of RACQ which will give you access to things like discounted movie tickets and dining rewards. Best of all the package loan has an offset account which means that money kept in this account will be offset against the interest owing on your home loan.
Borrowers are looking for a flexible home loan that will allow them to pay off their home loan sooner and reap the benefits that come with RACQ membership.
You’ll need to have a Queensland residential address to be eligible for RACQ home loans. In addition to this you’ll need to have at least a 10% deposit to put down on the property.
2.75% p.a.
n/a
n/a
n/a
2.81% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$600.00
$0.00
$0.00
$302.50
n/a
$0.00
$150.00
$20,000
none
none
70.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
yes
yes - free
$0.00
yes
yes
none
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.
2.85% p.a.
n/a
n/a
n/a
2.91% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$600.00
$0.00
$0.00
$302.50
n/a
$0.00
$150.00
$20,000
none
70.00%
80.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
yes
yes - free
$0.00
yes
yes
none
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.
2.95% p.a.
n/a
n/a
n/a
3.01% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$600.00
$0.00
$0.00
$302.50
n/a
$0.00
$150.00
$20,000
none
80.00%
90.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
yes
yes - free
$0.00
yes
yes
none
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.
4.33% p.a.
n/a
n/a
n/a
4.39% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$600.00
$0.00
$0.00
$302.50
n/a
$0.00
$150.00
$20,000
none
none
90.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
yes
yes - free
$0.00
yes
yes
none
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.
4.79% p.a.
n/a
n/a
n/a
4.85% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$600.00
$0.00
$0.00
$302.50
n/a
$0.00
$150.00
$20,000
none
none
90.00%
Investor
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
yes
no
none
yes
yes (for principal & interest loans only)
none
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.
3.09% p.a.
n/a
n/a
n/a
3.15% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$600.00
$0.00
$0.00
$302.50
n/a
$0.00
$150.00
$150,000
none
none
90.00%
Investor
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
no
no
none
yes
yes
none
Package benefits include no annual fee on a Platinum Rewards Credit Card and additional interest on term deposits.
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.
3.09% p.a.
n/a
n/a
n/a
3.15% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$600.00
$0.00
$0.00
$302.50
n/a
$0.00
$150.00
$150,000
none
none
90.00%
Investor
Interest Only
Weekly, Fortnightly, Monthly
yes - free
no
no
none
yes
no
none
Package benefits include no annual fee on a Platinum Rewards Credit Card and additional interest on term deposits.
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.
With QTMB you are treated as a person not a number. Staff support is outstanding. Online banking is extremely helpful as well as the staff when visiting a branch. Thank you QTMB.
Read full reviewWith QTMB you are treated as a person not a number. Staff support is outstanding. Online banking is extremely helpful as well as the staff when visiting a branch. Thank you QTMB.
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.
Bank of Queensland
Fixed Rate
2.09% p.a.
fixed 3 years
3.01% p.a.
People's Choice Credit Union
Fixed Rate Home Loan (Package)
1.99% p.a.
fixed 3 years
3.64% 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.
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.
Bank of Queensland
Fixed Rate
2.09% p.a.
fixed 3 years
3.01% p.a.
People's Choice Credit Union
Fixed Rate Home Loan (Package)
1.99% p.a.
fixed 3 years
3.64% 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.
$0.00
Yard
Variable Home Loan Special
2.09% p.a.
2.12% p.a.
$0.00
GMCU
Basic Variable
2.33% p.a.variable for 24 months and then 3.82% p.a.
3.71% p.a.
$8.00 monthly
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.
