Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan

Fixed rate loans allow you to plan ahead and budget your earnings as you will know exactly how much you will be paying in each of the instalments. The Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan is a fixed rate loan that allows you to do just this. The Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan offers a great fixed rate which will vary depending on the term you fix the loan. These fixed rates are:

Features of the Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan

While most fixed rate loans offer few features, the Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan offers a range of addition features to give you the flexibility you may need. These features are:

• Borrowing conditions. You are able to get preapproval for the loan. By knowing what you can borrow before you start to look for a home you can relieve some of the stress by knowing what you can afford. When you purchase you home you can then choose between different repayment options. Over a thirty year period, you can choose between weekly, fortnightly, or monthly repayments. The minimum amount you can borrow is $20,000
• You can make additional repayments. If you choose you can make additional repayments. These repayments can help reduce the length of the loan and reduce how much interest you will pay. If you choose to take advantage of the additional payments feature on the Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan you can make up to $10,000 of additional repayments each year for no extra cost.
• You can split the loan. Fixed rate loans generally have less features and less flexibility than variable rate loans. Furthermore, if rates drop you will also be paying more money than those on the variable rate option. The Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan allows you to take advantage of reduced interest rates and extra features by allowing you to split the home loan so separate parts of your loan are subject to different interest rates.
• You can pay the interest in advance. With the interest in advance feature you are able to pay the interest before you start paying off the loan. By doing this you not only receive a 0.20%.p.a discount on the interest rate but you are also able to take advantage of the tax benefits from doing so.
• You can pay only the interest for a period of time. The Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan allows you to pay only the interest portion of the repayments for an agreed upon period of time. This is handy if you have unexpected costs that arise.

Often you will find that fixed rate loan offer fewer features and are generally less flexible than the variable loans. The Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan offers a great fixed rate loan with some features that will allow you to be more flexible with how you repay the loan. The Commonwealth Bank Interest In Advance Fixed Rate Investment Home Loan also allows you to split the loan to allow you to take advantage of periods when interest rates are lowered and the features of the variable rate loans.

Read the official terms and conditions

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