ANZ Three Year Fixed Rate Home Loan
Posted May 7th, 2010
and last modified January 30th, 2012
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
When you are looking for a home loan you will have to consider whether you would like a fixed or variable interest rate loan. Variable interest rate loans will have an interest rate that will change over time. The fixed interest rate loans will have an interest rate that is locked in over the fixed rate period. People will generally get a fixed rate loan if they predict that the interest rates are about to rise. If the interest rates do rise then they may find themselves on a lower rate than the people on the variable rate loans. The ANZ 3 year fixed rate home loan is one of the many fixed rate home loan that are offered on the market.
Features of the ANZ 3 Year Fixed Rate Home Loan
The ANZ 3 year fixed rate home loan comes with a variety of features that will assist you. These features are:
- Interest rate. The interest rate that is offered with the ANZ 3 year fixed rate home loan is 6.19%. While this interest rate is higher than the variable interest rates that are offered, if the interest rates rise you will save money.
- Interest only repayments. The ANZ 3 year fixed rate home loan allows you to make interest only repayments if you need to. People will usually apply for interest only repayments if they feel the need to free up money. Be warned, if you pay only the interest your repayments will go up when they resume.
- Redraw facility. The ANZ 3 year fixed rate home loan allows you to make additional repayments onto the loan, however this feature will cost you money. When the fixed rate period ends you will then revert back to a variable rate loan. During this time you will be able to use the redraw facility to withdraw any of the additional funds that have been put onto the loan account.
- Split the loan. One of the great features of the ANZ 3 year fixed rate home loan is that you will be able to split the loan. When you split the loan you will be subjecting one portion of the loan to the ANZ 3 year fixed rate home loan and the rest of the loan to another loan type. Many people will use the split loan feature with a variable rate loan. The variable rate loans will usually come with more features and will let you make additional repayments free of charge. Furthermore, if the interest rates don’t rise then you will be paying less than you would be if the whole loan was fixed.
- Fees. The ANZ 3 year fixed rate home loan has a variety of fees that will be charged to the loan account. When you apply for the ANZ 3 year fixed rate home loan you will have to pay a $600 application fee. Furthermore, if you would like to lock the rate that is available at the time of the application then you will have to pay an additional $750. Throughout the loan you will have to pay an ongoing fee of $10 a month.
The ANZ 3 year fixed rate home loan is a great fixed rate loan that may be able to help you save money. The ANZ 3 year fixed rate home loan comes with a low interest rate for a fixed rate loan and a variety of features that will help you pay off your loan. Start a fixed interest rate loan comparison today.
Read the ANZ Fixed Rate Home Loan - 3 Year Fixed Rate terms and conditions.
| Minimum Loan Amount | $20,000 | |
|---|---|---|
| Maximum Loan Amount | $10,000,000 | |
| Maximum LVR | 80% | |
| Maximum Insured LVR | 97% | |
| Mortgage Offset Account | Yes | |
| Loan Redraw Facility | No | |
| Split Loan Facility | Yes | |
| Fixed Interest Option | Yes |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 6.19% | |
| Comparison Rate | 7.14% | |
| 3 Year Fixed Rate | 6.48% | |
| Repayment Type | Principle & Interest | |
| Repayment Frequency | Weekly | |
| Extra Repayments | No |
| Application Fee | $600 | |
|---|---|---|
| Legal Fee | $0 | |
| Valuation Fee | $0 | |
| Service Fee | $10.00 | |
| Exit Fee | $160 | |
| Early Termination Fee | $0 |
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