1. Interest rates are current as at 11-Jan-2021 and are subject to change. The variable interest rate may include a discount or margin that is applied to the product’s variable reference rate. Discounts are offered to new home loan applications only. The discount cannot be used with any other rate promotion. Existing applications, internal refinances, top ups, additional advances or variations of existing home loans are not eligible. We may change or withdraw any discount or margin at any time.
2. Home Loan comparison rates are based on a loan of $150,000 for a term of 25 years, repaid monthly. WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates. The comparison rates for interest only fixed loans are based on the interest-only period being equal to the fixed rate term.
3. The results from this calculator should be used as an indication only. Results do not represent, quotes, pre-qualifications for any product or an offer to provide credit. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change. The Borrowing Power Calculator calculates the maximum loan amount available based on the income and expenses entered. Default values provided assist in giving an estimate of the expenses and other factors which may determine the amount available for a loan. This Borrowing Power Calculator takes into account the current cost of living, but does not take into account any expected future changes in the cost of living. The calculator uses the higher of the default estimated monthly living expenses or the living expenses you have entered.
4. LMI discount eligibility criteria and conditions:
Only available to First Home Buyers (FHBs) for the purposes of buying or constructing their first residential dwelling solely for owner occupation. Limited to one security property per application. Excludes vacant land purchases, however construction loan applications that include refinancing of a land loan on the security property are eligible. Where there is more than one applicant applying for a home loan, all applicants need to be FHBs (applicants can own/have owned an investment property, provided they do not/have never owned an owner occupied one).
Includes Approval in Principal applications and available on all new ME home loan product applications. Not available for, top-ups, variations and internal refinances.
The discount is calculated from the standard LMI rate chart offered to ME by its mortgage insurer, QBE Lenders’ Mortgage Insurance Limited (QBE) and takes the existing FHB discount to 25%.
A maximum LVR of 95% (inclusive of LMI) applies with a maximum loan amount of $1.2 million.
This offer is current as at
Date Display Widget (C#)
19-Jan-2021 and may be varied or withdrawn at any time.
Terms, conditions, fees and charges apply. All applications are subject to credit approval.