MyRate >$150k Advantage Loan
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97%
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Moneybuddy says
The MyRate ADV Loan has a very low variable interest rate and no fees on standard applications. It's ideal for first home owners or those looking to refinance. The loan has lots of features, including interest only payments up to 5 years, extra repayments, unlimited free redraws and no ongoing fees.
The Basics
Interest type -
Headline interest rate -
Max LVR 97%
Annual fee -
The cool stuff: features
Draw down loan progressively Yes
Insurance details Yes - above 80%
Loan is Transferable Yes
Line of credit available No
Product suits -
The Facts & Figures
Introductory rate -
Introductory term -
Interest rate 1 year -
Interest rate 2 years -
Interest rate 3 years -
Interest rate 4 years -
Interest rate 5 years -
Interest rate 7 years -
Interest rate 10 years -
Interest rate 15 years -
Comparison rate 1 year -
Comparison rate 2 years -
Comparison rate 3 years -
Comparison rate 4 years -
Comparison rate 5 years -
Comparison rate 7 years -
Comparison rate 10 years -
Comparison rate 15 years -
Comparison rate 7.59%
Minimum loan term 10 years
Maximum loan term 30 years
Min loan amount $150,000
Max loan amount $2,000,000
Early repayments Yes
Redraw facility Yes
Repayment holiday No
Ability to split loan Yes
Extra repayments Yes
Offset account available No
Interest only payments Yes
The ugly stuff: fees
Application fee $0
Valuation fee $0
Subsequent valuation fee -
Valuation fee details -
Discharge fee -
Discharge fee details -
Legal fee $0
Settlement fee $0
Redraw fee -
* Important note: All information provided by advertiser or taken from advertiser website and correct at time of publishing. If this information is incorrect, please contact us.
Pros
- Very low interest rate
- No establishment
- valuation
- settlement
- legal or ongoing fees
- Unlimited free redraws
- Allows up to 4 splits
Cons
- No ATM card access
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