NAB Introductory Rate Home Loan (3 years Fixed)
Posted May 21st, 2010
and last modified April 20th, 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
Dreaming of a new Home? Does the current interest rate rises and falls have you worried about your Home Loan security? The NAB Introductory Rate Home Loan just might be the right Loan for you. Fixed for a term of 36 months, (3 years) you can rest assured that the Rises and Falls of the interest rate world won’t affect you reaching your goal of owning you own home.
Is a 3 Year fixed rate loan right for me?
- Are you looking for security in your finances?
- Do you want to know exactly what your Interest rates are going to be for a number of Years?
- Are you looking for a Loan with Stability and Flexibility in your repayments?
- Are you a First Home buyer and new to the market?
If you answered YES to most of these questions, then you may want to consider the NAB Introductory Rate Home Loan – 3 years fixed. Consider the following features of the Loan:
- Borrow a minimum of $20,000 – Ideal for investment property buyers with equity to use
- Borrow a Maximum of $10,000,000 – Ideal for First Home buyers who have saved the minimum deposit
- Minimum deposit saved? – Borrow up tot 95% of the property value
- Low Monthly fees – Only $8 per month
When you feel comfortable knowing the Loan carries the features you are looking for when shopping around for a mortgage, consider the benefits of having a Fixed rate Loan for three years.
Interest rates move; they go up, and sometimes, before you have time to accept the change in your rates, they can go back down. It’s hard to keep up with and it can have a detrimental effect on your expendable income. With a Fixed rate home loan, you can sleep easy knowing that your rates are here to stay.
As a first Home buyer, the fixed term means that you can plan three years ahead as far as your financials are concerned. You know, that for the next three years you are going to be paying 6.49%. And it won’t rise. Three years may be enough time for you to prepare financially for increased interest rates and enough time to get ahead of your repayments, allowing you to take the sting out of interest rate hikes in the future.
As an investment property owner, you may already own a property and you want the comfort and security of knowing that if you are going to accept rental tenants, your rent should be able to stay at the rate you start with. This might make it easier to attract tenants and easier for the tenants to stay on track with their payments.
What Else Should I be Aware of With a NAB Fixed Rate Home Loan?
As you will know by now, interest rates have movements. Let’s say, 12 months into your three year fixed Home Loan, interest rates go down. Your current interest rates will not go down with the underlying interest rate index.
As a first Home buyer, you will miss the opportunity to pay lower interest rates, and possibly miss the chance to save money you could have saved if your rates were variable.
As an investment property owner, your rates will also stay at the current rate, meaning you may miss out on the opportunity to make a profit, especially if your investment property has rental tenants. You could have continued accepting the same amount of rent monies a month, but paid lower on your Home loan.
Read the NAB Introductory Rate Home Loan - 3 Year Fixed Rate terms and conditions.
| Minimum Loan Amount | $20,000 | |
|---|---|---|
| Maximum Loan Amount | $10,000,000 | |
| Maximum LVR | 95% | |
| Maximum Insured LVR | 95% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | No | |
| Split Loan Facility | Yes | |
| Fixed Interest Option | No |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 6.34% | |
| 3 Year Fixed Rate | 6.49% | |
| Repayment Type | Principle & Interest | |
| Repayment Frequency | Weekly | |
| Extra Repayments | Yes |
| Application Fee | $600 | |
|---|---|---|
| Legal Fee | $0 | |
| Valuation Fee | $0 | |
| Service Fee | $8.00 | |
| Settlement Fee | $0 | |
| Exit Fee | $150 |
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 Mortgage of the Year 2012 – this multi-award winner features 100% offset and a loyalty 0.25% rate drop after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
Ask A Question About This Product