Aussie Optimizer Variable Rate Home Loan
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
Key Features of the Aussie Optimizer Variable Rate Home Loan
The Aussie Optimizer Variable Rate Home Loan has the following key features:
- Only for residential properties
- Free application
- Zero continuous maintenance fees
- Minimum loan of $100,000
- Maximum loan of $2,000,000
- Easy access to loan account via:
- Internet
- Telephone
- B Pay
- Competitive interest rate options:
- Variable interest rate of 7.06% with possible discount feature
- Comparison Rate of 7.11%
- Change to a fixed interest rate at any time with no additional costs
- Up to 30 years loan repayment term
- Repayment options:
- Monthly or every 2 weeks
- Interest only to a maximum of 5 years or,
- Principal and interest
- Payment methods:
- Direct salary deduction
- Direct debit order
- With optional additional payments made anytime free of charge
- Redraw possibilities
- Free printed statement every 6 months
Other Features Include:
This type of loan offers some additional features including:
- Maximum LVR (Loan to Valuation Ratio) of 95%
- MI Capitalisation option up to a maximum of 95% LVR
- Redraw: this facility simply means you can access the additional funds you repay on your loan at anytime whenever you need it.
- $1000 redraw minimum for automatic self-help transaction through use of website
- $2000 redraw minimum for manual transaction through use of Customer Service
Optional Possibilities
When it comes to interest rates, the Aussie Optimizer Variable Rate Home Loan has a variety of options available to suit the lifestyles of its clients. These include:
- Enjoy discounted variable rates which are subject to the LVR. The lower the LVR the higher the discount.
- Transfer you loan to a fixed interest rate at any time with no additional cost.
- Split your loan free of charge and at anytime, but with a maximum of 2 splits prior to settlement and a maximum of 3 in total. This simply means you can apply for a fixed rate on a part of your loan. No charges will be levied if done before settlement.
Need to change your loan?
- Loan variation may be opted for, but are subject to approval and only up to 6 months after settlement. After settlement, another loan may be applied for to the original loan amount.
Fees
Aussie is upfront about the possible fees that may be charged as they believe in open policies so not to shock the client with unknown hidden costs. These fees include:
- $0 application fees
- $100 loan settlement fee
- Zero charges for 1st valuation, thereafter $200
- Solicitors fees to be advised
- $15 for additional statements
- $50 Redraw charge when applying through the Customer Service team – it is free online
- $300 charges when wanting to split the loan after settlement and after maximum amount of splits have been utilised
- $400 Discharge of loan fee
- $600 fee charged when porting the loan when property forms part of the bank’s security
Tips
Why not make your loan work for you? Have greater management with your loan with a redraw facility.
- By repaying more on your loan you will save on interest and create a bigger redraw facility.
- When applying for a redraw facility, ensure to apply online otherwise it could cost you $50 at a time.
How Much Can I Borrow?
Each application is assessed on merit with a few additional considerations such as:
- The loan size
- Credit rating
- Deposit paid
- LVR
LVR stands for “Loan to Value Ratio” and simply means the percentage of the value of the property you wish to borrow from Aussie i.e. 95%. No need to get nervous as the Aussie Mortgage Intelligence Team is ready and well equipped to assist you.
Conclusion
The Aussie Optimizer Variable Rate Home Loan is an option for any individual looking for a residential property. It has flexible interest rates and loan options available in order to cater for any individual, regardless of their circumstances. By promoting online and automatic self-help transactions, clients can save even more while experiencing greater management over the account.
Read the official terms and conditions
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
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