No Frills | Low Cost | Low Cost (Value Package) |
Qantas Points | Fixed Rate | Variable Rate | Construction Loan | |
Product | Owner Occupier Investment |
Owner Occupier Investment |
Owner Occupier Investment |
Owner Occupier Investment |
Owner Occupier Investment |
Owner Occupier Investment |
Owner Occupier Investment |
Loan Type | Variable | Variable | Variable | Variable | Fixed | Variable | Variable |
Loan Term | Up to 30 years | Up to 30 years | Up to 30 years | Up to 30 years | 1 – 5 years | Up to 30 years | Up to 30 years6 |
Interest Only Option1 | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ | For construction period6 |
Fixed Rate Available | ✖ | ✖ | ✖ | ✖ | 1 – 5 years | ✖ | ✖ |
Minimum Amount | $150k | $150k | $150k | $150k | $150k | No minimum | $150k |
Minimum Deposit2 | 20% | 10% | 10% | 10% | 10% | 5% | 10% |
Free Multiple Offset Available | ✖ | ✔ | ✔ | ✔ | ✖ | ✔ | ✔ |
Unlimited extra repayments at no cost | ✔ | ✔ | ✔ | ✔ | Up to $10,000 per year | ✔ | ✔ |
Redraw Available | ✔ | ✔ | ✔ | ✔ | ✖ | ✔ | ✔7 |
Redraw Fee | $0 | $0 | $0 | $0 | N/A | $0 | N/A |
Annual Fee | $0 | $0 | $199 | $0 | $0 | $0 | $0 |
Account Keeping Fee | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Establishment Fee (established homes) | $0 | $0 | $0 | $0 | $0 | $600 | $600 |
Split Loans3 | With fixed rate home loans only | ✔ | ✔ | ✔ | ✔ | ✔ | ✖ |
Qantas Points4 | ✖ | ✖ | ✖ | ✔ | ✖ | ✖ | ✖ |
Annual fee waiver ($199) on Visa Platinum Credit Card5 | ✖ | ✖ | ✔ | ✖ | ✖ | ✖ | ✖ |
Choosing the right home loan depends on a range of factors, such as your personal circumstances, financial goals, and the type of property you want to purchase. For instance, if you plan to live in the home, you may be interested in a different type of loan than if you’re purchasing an investment property.
Similarly, if you’re buying a newly built home, you may need a different loan product than if you’re purchasing an existing property.
There are also additional features and benefits that may be important to you, such as an offset account, the ability to make extra repayments, or a lower interest rate. It's important to consider these factors and compare the home loan interest rates when choosing a home loan, as they can have a significant impact on the cost of your loan and your ability to repay it.
To determine which home loan is right for you, we recommend speaking with one of our lending specialists about the home loan process. Our team can help you understand the different loan options available and provide guidance on which loan best meets your needs. Contact us today to make an inquiry.
When it comes to drawing a home loans comparison, there are several key factors to consider to ensure you’re getting the best deal for your unique financial situation. Here are some things to keep in mind:
Comparing home loan rates can be a great way to find a mortgage that fits your needs and budget. Here are some steps you can take to compare home loan rates:
Qudos Bank offers a range of home loans to suit different financial situations and goals. Here are some of the different types of home loans that you may want to consider:
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1 Only monthly repayment options available for interest only loans. Interest only subject to approval. During an interest only period, your interest only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.
2 Mortgage insurance is required for home loans over 80% and is subject to approval.
3 Product deposit requirements vary, split options must meet the highest minimum deposit amount.
4 Qantas Points accrue in accordance with and subject to the Qantas Points Banking Rewards Terms and Conditions issued by Qudos Bank, available at qudosbank.com.au. You must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Points. Membership and the earning and redemption of points are subject to the Terms and Conditions of the Qantas Frequent Flyer program available at qantas.com/terms. Qudos Bank recommends that you seek independent tax advice in respect of the tax consequences (including fringe benefits tax, and goods and services tax and income tax) arising from the use of this product or from participating in the Qantas Frequent Flyer program or from using any of the rewards or other available program facilities. Qudos Bank is the issuer, offeror and administrator of the Qantas Points Banking products and is a credit provider and credit licensee under National Consumer Credit laws.
5 Waived annually whilst signed up to the Value Package. Only available for one Visa Platinum Credit Card per Value Package.
6 Construction period is up to the date the final progress payment is made or 12 months from the date we first advance money to you, whichever is earliest.
7 Redraw is not available during the construction period.
Normal lending criteria, terms and conditions and fees and charges apply. Mortgage insurance is required for home loans over 80% and is subject to approval.
Interest only subject to approval. During an interest only period, your interest only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.
You should read and consider the relevant terms and conditions (available on request) and our Financial Services Guide before deciding whether to obtain any of our financial products or services.