Resi Fixed Home Loan
Features of the Resi Fixed Home Loan
Locking in a mortgage to an agreed fixed interest rate relieves a lot of pressure for many homeowners. The peace of mind of knowing exactly what repayments will be for the duration of the fixed term makes it easier to budget. It also removes the stress of wondering if you’ll be caught by interest rate increases.
Families, single borrowers, parents with kids in the home and first homebuyers can benefit from the certainty of knowing exactly what their payments will be for a period of time.
Of course, many investors can benefit from using fixed interest rates to their advantage too. This can help them to forecast profitability and cash flow for an investment property more easily, as they’ll know precisely what the payments will be while the loan is still in its fixed term.
Featured Resi Home Loan
The Smart Option Home Loan offers you a super low rate fixed for 1 year, Plus no ongoing, no application fee.
- Interest Rate of 6.49%
- Comparison Rate of 6.99%
- Application Fee of $0
- Maximum LVR With LMI: 95%
- Minimum Borrowing: $50,000
- Maximum Borrowing: $20,000,000
How Long Should You Fix Your Mortgage For?
The fixed term you choose for your mortgage should be heavily dependent on your own goals and plans for the future. It’s important to remember that some fixed rate home loans do carry a penalty for breaking out of it before the end of the term. To avoid these fees, try to work out exactly what you plan to do in the next few years and choose your term accordingly. This will help you avoid fees in the future and make it easier for you to make other financial plans.
So, if you know you’re likely to sell your home in two years, it could be wise to choose a shorter fixed term, such as one or two years only. However, if you know you want the benefits of keeping your rate fixed for as long as possible, opt for a longer fixed term, such as three or five years.
Fixed Rates
The highly competitive fixed rates and terms offered by Resi Home Loans is as follows:
| Fixed Rate Term | Fixed Interest Rate |
| 1 year | 6.70% |
| 2 years | 6.99% |
| 3 years | 6.85% |
| 5 years | 7.36% |
Repayment Options
Payments can be made either weekly, fortnightly, or monthly, and can be set to Principal and Interest payments or Interest Only payments.
While it is possible to make extra repayments into your fixed mortgage, it’s important to consider how much extra you’re able to pay in. This is because there may be limitations on the amount of excess that can be paid into the account during the term.
Fees and Charges
While there is no application fee and no ongoing fees, there are some fees that may apply to fixed rate loans:
| Fee Type | Fee |
| Application Fee | $0 |
| Monthly Account Fee | $0 |
| Redraw Fee | Nil |
| Valuation Fee | $232.50 – $350 |
| Legal Documentation Fees | >$396 |
Related posts:
- Resi Complete Home Loan
- Resi Non Resident Home Loan
- Resi Flexi Fix Lite Home Loan
- Resi Lo Doc Home Loan
- Resi Smart Pro Home Loan
- Resi BreakThru Home Loan
- Resi Smart Pro Lite Home Loan
- Resi Flexi Fix Home Loan
- Resi Low Start Home Loan
- Resi Smart Option Home Loan
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 |
|
 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 |
|
 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 |
|
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