NAB Tailored Home Loan – Fixed Rate (Interest Only in advance)
Posted May 21st, 2010
and last modified April 20th, 2012
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- 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
Buying an investment property can be very expensive. You will have to pay off your own home loan, if you still have one, while relying on the income from your other property to pay off the new home loan. The NAB Tailored Home Loan – Fixed Rate (Interest Only in advance)is a home loan that allows you to pay the interest in advance and so you receive discounts on the fixed rate. This means that while you are paying off your loan you can save money by reducing the interest charged to your account and receiving a discounted interest rate. The NAB Tailored Home Loan – Fixed Rate (Interest Only in advance) is a great loan that can allow you to increase your investment portfolio while receiving discounts that can help you save money. The interest rates that you will pay during the fixed rate period depend on the length of the loan. The interest rates are:
Features of the NAB Tailored Home Loan – Fixed Rate (Interest Only in advance)
The NAB Tailored Home Loan – Fixed Rate (Interest Only in advance) is a great home loan that allows you to purchase an investment property without having to pay too much upfront. The features of the NAB Tailored Home Loan – Fixed Rate (Interest Only in advance) are:
- How much can you borrow. The NAB Tailored Home Loan – Fixed Rate (Interest Only in advance) allows you to borrow between $20,000 and $1,000,000. You can borrow up to 95% of the property value on the loan but if you have to borrow over 95% you will have to pay mortgage insurance.
- How long can you take to pay off the loan. The NAB Tailored Home Loan – Fixed Rate (Interest Only in advance) allows you to pay off the loan over a 30 year period.
- Who is this loan for. This loan is for investors only.
- Split the loan. The NAB Tailored Home Loan – Fixed Rate (Interest Only in advance) allows you to split the loan. By splitting the loan you are able to have different parts of the loan subject to different loan schemes. You may want to use this feature so you can only have half of the loan subject to the NAB Tailored Home Loan – Fixed Rate (Interest Only in advance) features. The other half you can then assign to a variable rate loan with many features and flexibility.
- Fees. The NAB Tailored Home Loan – Fixed Rate (Interest Only in advance) charges a limited amount of fees. You will not have to pay any legal, valuation or settlement fees but you will be required to pay an application fee of $600, a service fee of $8 a month and an exit fee of $900.
The interest in advance loans are a great option for the people who have a large sum of money available to them. They can pay off the interest in advance and receive a discount on the fixed interest rate for the loan. The NAB Tailored Home Loan – Fixed Rate (Interest Only in advance) is feature limited but you save your money by paying the interest in advance and increasing your investment portfolio.
Read the NAB Tailored Home Loan - Fixed Rate (Interest Only in advance) terms and conditions.
| Minimum Loan Amount | $20,000 | |
|---|---|---|
| Maximum Loan Amount | $1,000,000 | |
| 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 | 6.14% | |
| Comparison Rate | 7.48% | |
| 1 Year Fixed Rate | 6.14% | |
| 2 Year Fixed Rate | 6.14% | |
| 3 Year Fixed Rate | 6.39% | |
| 4 Year Fixed Rate | 6.89% | |
| 5 Year Fixed Rate | 6.94% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | No |
| Application Fee | $600 | |
|---|---|---|
| Legal Fee | $0 | |
| Valuation Fee | $0 | |
| Service Fee | $8.00 | |
| Settlement Fee | $0 | |
| Exit Fee | $150 |
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