Community First Fixed Rate Home Loans
Posted August 31st, 2010
and last modified November 2nd, 2011
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
A fixed rate home loan can feel restrictive and as a result many Australians shy away from the option when choosing their next mortgage. Where the restrictive nature of a fixed interest rate may be just what you are after you don’t have to feel completely tied down with the Community First Fixed Rate Home Loan.
With Community First a fixed interest rate loan can also mean:
- An offset account.
- Additional repayment options and redraws.
- Your choice of fixed rate terms from 1 to 3 years on a loan term of 30 years.
Compare the Fixed Rate Loan from Community First
A fixed interest rate loan protects you from interest rate rises and in an economic climate where official interest rates are still recovering from record, emergency lows, you can expect a few more rate rises in the near future. In addition to interest rate security with a Community First fixed rate you’ll also enjoy:
- A fixed repayment amount. When your interest rate is fixed, your repayment amount will stay the same each month allowing you to budget for your home loan repayment more easily, and avoid any budget blowouts when rates rise.
- No fees. You will not be charged any annual fees or account keeping fees from Community First on your loan.
- A 100% offset account. This is the best type of offset account around as 100% of the funds in your linked account offset 100% of the interest for the corresponding amount in your home loan account, saving you thousands of dollars and years off your loan without you even trying.
- Redraw and additional repayments. There is no minimum redraw amount so you can take out just the amount you need. You can also make additional repayments to save even more time and money on your loan.
- Use the loan for your purchase needs. You can use the Community First fixed rate home loan as an owner occupier or for investment purposes.
- A maximum LVR of 95%. This means you can borrow up to 95% of the property value but you will have to pay Lender’s Mortgage Insurance. If you want to avoid LMI you can choose to borrow just 80% of the value.
- Your choice of repayment options. You can make your mortgage repayments weekly, fortnightly or monthly to coincide with your own wages schedule.
- At the end of the fixed term your interest rate reverts to a standard variable rate, and you can choose to fix for another term.
How to Apply for the Community First Fixed Rate Loan
If you have decided that the fixed interest rate loan from the Community First credit union is the right option for you, you are protected from interest rate rises from the moment you apply. You can choose to lock in your fixed interest rate at the time of application with the Community First Rate Lock feature which protects you from rate rises between the time you apply and the time your loan is approved and active.
To apply for a Community First home loan you can complete an online application form in just 10 minutes, apply over the phone or you can visit a branch. A Mobile Manager can even come to you if that is easier.
Read the Community First Fixed Home Loan - 3 Year Fixed Rate terms and conditions.
| Minimum Loan Amount | $100,000 | |
|---|---|---|
| Maximum Loan Amount | $1,000,000 | |
| Maximum LVR | 95% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | Yes | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 6.29% | |
| 1 Year Fixed Rate | 6.29% | |
| 2 Year Fixed Rate | 6.29% | |
| 3 Year Fixed Rate | 6.29% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | Yes |
| Application Fee | $500 | |
|---|---|---|
| Service Fee | $0 |
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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