The details shown below are for an owner occupier taking out a principal & interest loan between $200,000 and $2,000,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan between $200,000 and $2,000,000 with an LVR below 90%
The details shown below are for an owner occupier taking out a interest only loan between $200,000 and $2,000,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest loan between $200,000 and $2,000,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest loan between $200,000 and $2,000,000 with an LVR below 90%
The details shown below are for an investor taking out a interest only loan between $200,000 and $2,000,000 with an LVR below 80%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 80% | $200,000 | $2,000,000 |
| | Owner Occupier | Principal & Interest | 80%-90% | $200,000 | $2,000,000 |
| | Owner Occupier | Interest Only | < 80% | $200,000 | $2,000,000 |
| | Investor | Principal & Interest | < 80% | $200,000 | $2,000,000 |
| | Investor | Principal & Interest | 80%-90% | $200,000 | $2,000,000 |
| | Investor | Interest Only | < 80% | $200,000 | $2,000,000 |
Owner Occupier (Principal & Interest)
LVR < 80%
Loan: $200,000 $2,000,000
Owner Occupier (Principal & Interest)
LVR 80%-90%
Loan: $200,000 $2,000,000
Owner Occupier (Interest Only)
LVR < 80%
Loan: $200,000 $2,000,000
Investor (Principal & Interest)
LVR < 80%
Loan: $200,000 $2,000,000
Investor (Principal & Interest)
LVR 80%-90%
Loan: $200,000 $2,000,000
Investor (Interest Only)
LVR < 80%
Loan: $200,000 $2,000,000
The Well Home Loans Well Balanced home loan has a bunch of different rate tiers to help you find the one that suits your needs. Interest rates start as low as 2.17% (2.20% comparison rate*) for owner occupier P&I loans with a loan-to-value ratio of 80% or less. The loan comes with handy features such as free extra repayments, redraw and the option for a split account. There are a few fees to consider though, including a $250 application fee, $150 settlement fee, a $385 legal fee and $300 discharge fee.
Need more convincing? The Well Balances Home Loan took out a seriously impressive FIVE 2020 Mozo Experts Choice Awards - for best Investor Home Loan, Low Cost Home Loan, Offset Home Loan, First Buyer Home Loan and Split Home Loan.
Whether you’re an investor or owner occupier, Well Home Loans Well Balanced home loan offers interest only and principal and interest loans with a variety of features.
Off the bat we need to address the interest rate and what factors affect it: what type of borrower you are, which interest type you get and what LVR you are looking for will change the interest rate on offer to you.
On the whole, an owner occupier will get a better rate than an investor. Same with a borrower looking for a loan worth 80% or less of the home’s value compared to someone getting a loan with an 80%-95% LVR.
The option to make free extra repayments may be a handy way to save some money on your interest and the free redraw facility with only a $1 minimum withdrawal makes getting access to your extra repayments if you need them again no sweat.
A slightly different method for saving on interest that you might want to take advantage of is an offset account. There’s one on offer with the Well Home Loans Well Balanced loan, however this offset account will cost you $10 a month to have.
As far as minimum and maximum loan amounts go, Well Home Loans Well Balanced home loan offers amounts starting from $200,000 to a fairly high $2,000,000 maximum loan amount; giving customers the opportunity to find a loan to suit them.
Lastly, the home loan comes with the option for a split account, which lets you have the interest rate be partly variable and partly fixed.
As there are a wide range of options available for this loan, all with a bunch of good features and competitive interest rates, most customers will find that the Well Home Loans Well Balanced home loan could offer a deal to suit them.
While an offset account can be a great tool for saving on interest, the $10 monthly fee will mean you want to make sure you use it correctly, so you can get the savings to justify paying the fee. Speaking of fees, you may also need to factor in a $250 application fee, $385 legal fee and $150 settlement fee into your budget.
2.17% p.a.
n/a
n/a
n/a
2.20% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$250.00
$385.00
$0.00
$150.00
n/a
$0.00
$300.00
$200,000
$2,000,000
none
80.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
no
yes - free
$1.00
yes
Optional - $10 per month
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.
2.52% p.a.
n/a
n/a
n/a
2.55% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$250.00
$385.00
$0.00
$150.00
n/a
$0.00
$300.00
$200,000
$2,000,000
80.00%
90.00%
Owner Occupier
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
no
yes - free
$1.00
yes
Optional - $10 per month
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.
2.99% p.a.
n/a
n/a
n/a
3.05% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$250.00
$385.00
$0.00
$150.00
n/a
$0.00
$300.00
$200,000
$2,000,000
none
80.00%
Owner Occupier
Interest Only
Weekly, Fortnightly, Monthly
yes - free
no
yes - free
$1.00
yes
Optional - $10 per month
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.
2.36% p.a.
n/a
n/a
n/a
2.42% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$250.00
$385.00
$0.00
$150.00
n/a
$0.00
$300.00
$200,000
$2,000,000
none
80.00%
Investor
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
no
yes - free
$1.00
yes
Optional - $10 per month
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.
2.87% p.a.
n/a
n/a
n/a
2.90% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$250.00
$385.00
$0.00
$150.00
n/a
$0.00
$300.00
$200,000
$2,000,000
80.00%
90.00%
Investor
Principal & Interest
Weekly, Fortnightly, Monthly
yes - free
no
yes - free
$1.00
yes
Optional - $10 per month
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.
2.69% p.a.
n/a
n/a
n/a
2.75% p.a.
n/a
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$250.00
$385.00
$0.00
$150.00
n/a
$0.00
$300.00
$200,000
$2,000,000
none
80.00%
Investor
Interest Only
Weekly, Fortnightly, Monthly
yes - free
no
yes - free
$1.00
yes
Optional - $10 per month
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.
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