Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
|
|
Owner Occupier | Principal & Interest | < 60% | $20,000 | |
|
|
Owner Occupier | Principal & Interest | < 70% | $20,000 | |
|
|
Owner Occupier | Principal & Interest | 70%-80% | $20,000 | |
|
|
Owner Occupier | Principal & Interest | < 95% | $20,000 | |
|
|
Owner Occupier | Principal & Interest | 80%-95% | $20,000 | |
|
|
Investor | Principal & Interest, Interest Only | < 60% | $20,000 | |
|
|
Investor | Principal & Interest, Interest Only | < 70% | $20,000 | |
|
|
Investor | Principal & Interest, Interest Only | 70%-80% | $20,000 | |
|
|
Investor | Principal & Interest, Interest Only | 80%-95% | $20,000 | |
|
|
Investor | Principal & Interest, Interest Only | < 90% | $150,000 | |
|
|
Investor | Principal & Interest, Interest Only | < 90% | $20,000 |
If you’re a Queenslander looking to break the back of your mortgage, RACQ Bank’s 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. However, there is an establishment fee of $900 up-front, which includes both the settlement cost and a $165 discharge/exit fee, to be aware of.
With the Mortgage Breaker 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 owner occupiers is 95% and investors is 90%. There is a minimum loan amount of $20,000 and a maximum loan term of 40 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.
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 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 5% (for an owner occupier) deposit to put down on the property.
The $900 establishment fee may be off-putting for some, but it does also include the settlement fee, as well as the early discharge/exit fee of $165.
|
6.24% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
6.31% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$900.00 |
|
|
$0.00 |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
$0.00 |
|
|
$165.00 |
|
$20,000 |
|
|
none |
|
|
none |
|
|
60.00% |
|
Owner Occupier |
|
|
Principal & Interest |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
yes |
|
|
yes - free |
|
|
$0.00 |
|
|
yes |
|
|
yes |
|
|
Application fee includes valuation fee up to $300. |
|
|
Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan to purchase eligible clean energy products. 40 year loan terms available for First Home Buyers. |
|
|
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.
|
6.34% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
6.41% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$900.00 |
|
|
$0.00 |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
$0.00 |
|
|
$165.00 |
|
$20,000 |
|
|
none |
|
|
none |
|
|
70.00% |
|
Owner Occupier |
|
|
Principal & Interest |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
yes |
|
|
yes - free |
|
|
$0.00 |
|
|
yes |
|
|
yes |
|
|
Application fee includes valuation fee up to $300. |
|
|
Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan to purchase eligible clean energy products. 40 year loan terms available for First Home Buyers. |
|
|
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.
|
6.44% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
6.51% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$900.00 |
|
|
$0.00 |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
$0.00 |
|
|
$165.00 |
|
$20,000 |
|
|
none |
|
|
70.00% |
|
|
80.00% |
|
Owner Occupier |
|
|
Principal & Interest |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
yes |
|
|
yes - free |
|
|
$0.00 |
|
|
yes |
|
|
yes |
|
|
Application fee includes valuation fee up to $300. |
|
|
Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan to purchase eligible clean energy products. 40 year loan terms available for First Home Buyers. |
|
|
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.
|
8.48% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
8.55% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$900.00 |
|
|
$0.00 |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
$0.00 |
|
|
$165.00 |
|
$20,000 |
|
|
none |
|
|
none |
|
|
95.00% |
|
Owner Occupier |
|
|
Principal & Interest |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
yes |
|
|
yes - free |
|
|
$0.00 |
|
|
yes |
|
|
yes |
|
|
Application fee includes valuation fee up to $300. |
|
|
Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan to purchase eligible clean energy products. 40 year loan terms available for First Home Buyers. |
|
|
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.
|
7.04% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
7.11% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$900.00 |
|
|
$0.00 |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
$0.00 |
|
|
$165.00 |
|
$20,000 |
|
|
none |
|
|
80.00% |
|
|
95.00% |
|
Owner Occupier |
|
|
Principal & Interest |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
yes |
|
|
yes - free |
|
|
$0.00 |
|
|
yes |
|
|
yes |
|
|
Application fee includes valuation fee up to $300. |
|
|
Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan to purchase eligible clean energy products. 40 year loan terms available for First Home Buyers. |
|
|
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.
|
6.54% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
6.61% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$900.00 |
|
|
$0.00 |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
$0.00 |
|
|
$165.00 |
|
$20,000 |
|
|
none |
|
|
none |
|
|
60.00% |
|
Investor |
|
|
Principal & Interest, Interest Only |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
no |
|
|
no |
|
|
none |
|
|
yes |
|
|
yes |
|
|
Application fee includes valuation fee up to $300. |
|
|
Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan to purchase eligible clean energy products. 40 year loan terms available for First Home Buyers. |
|
|
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.
|
6.64% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
6.71% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$900.00 |
|
|
$0.00 |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
$0.00 |
|
|
$165.00 |
|
$20,000 |
|
|
none |
|
|
none |
|
|
70.00% |
|
Investor |
|
|
Principal & Interest, Interest Only |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
no |
|
|
no |
|
|
none |
|
|
yes |
|
|
yes |
|
|
Application fee includes valuation fee up to $300. |
|
|
Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan to purchase eligible clean energy products. 40 year loan terms available for First Home Buyers. |
|
|
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.
|
6.74% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
6.81% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$900.00 |
|
|
$0.00 |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
$0.00 |
|
|
$165.00 |
|
$20,000 |
|
|
none |
|
|
70.00% |
|
|
80.00% |
|
Investor |
|
|
Principal & Interest, Interest Only |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
no |
|
|
no |
|
|
none |
|
|
yes |
|
|
yes |
|
|
Application fee includes valuation fee up to $300. |
|
|
Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan to purchase eligible clean energy products. 40 year loan terms available for First Home Buyers. |
|
|
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.
|
7.34% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
7.41% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$900.00 |
|
|
$0.00 |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
$0.00 |
|
|
$165.00 |
|
$20,000 |
|
|
none |
|
|
80.00% |
|
|
95.00% |
|
Investor |
|
|
Principal & Interest, Interest Only |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
no |
|
|
no |
|
|
none |
|
|
yes |
|
|
yes |
|
|
Application fee includes valuation fee up to $300. |
|
|
Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 2.79% p.a. green loan to purchase eligible clean energy products. 40 year loan terms available for First Home Buyers. |
|
|
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.
|
7.34% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
7.41% 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 |
|
|
$165.00 |
|
$150,000 |
|
|
none |
|
|
none |
|
|
90.00% |
|
Investor |
|
|
Principal & Interest, 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. Receive 15% off Home & Contents Insurance for the life of the loan. |
|
|
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.
|
9.04% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
9.12% p.a. |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
$900.00 |
|
|
$0.00 |
|
|
n/a |
|
|
n/a |
|
|
n/a |
|
|
$0.00 |
|
|
$165.00 |
|
$20,000 |
|
|
none |
|
|
none |
|
|
90.00% |
|
Investor |
|
|
Principal & Interest, Interest Only |
|
|
Weekly, Fortnightly, Monthly |
|
|
yes - free |
|
|
yes |
|
|
no |
|
|
none |
|
|
yes |
|
|
yes (for principal & interest loans only) |
|
|
Application fee includes valuation fee up to $300. |
|
|
Receive 15% off Home & Contents Insurance for the life of the loan. RACQ members with a home loan of $250k+ can receive 0.79% p.a. green loan to purchase eligible clean energy products. |
|
|
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.
Home Value Loan
6.09% p.a. variable
6.09% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Elevate
6.09% p.a.
6.20% p.a.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Home Value Loan
6.09% p.a.
6.09% p.a.
$0.00
Elevate
6.09% p.a.
6.20% p.a.
$0.00
First Home Buyer Loan
5.90% p.a.
5.93% p.a.
$0.00
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.
