Resi Smart Option Home Loan
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
Resi Smart Option Home Loan – Features and Benefits
The Resi Smart Option Home Loan is the ideal way to get a good head start on any mortgage. It’s long been understood that the first year of any mortgage is the hardest. This is when the balance is at its highest and the interest charges add up significantly.
Yet, customers can take advantage of the Smart Option discounted variable rate for the first year. Not only does this reduce the interest you pay during that difficult first year, but it also gives you the perfect way to reduce your mortgage much faster than usual.
This loan type can be ideal for first home buyers or families on a budget, but it can also be excellent for investors wanting to maximise cash flow during that all-important first year of an investment home loan.
Rates and Fees
The current rates and fees charged on the Resi Smart Option Home Loan are as follows:
| Fee Type | Rate/Fee Charged |
| Interest Rate (fixed for the 1st year) | 6.49% |
| Interest Rate (comparison rate) | 6.99% |
| Application Fee | $0 |
| Monthly Account fee | $0 |
| Valuation Fee | Between $236.50 and $350 |
| Legal Documentation Fees | >$440 |
Using the Smart Option Home Loan to Reduce a Mortgage Faster
The key to really getting ahead on your mortgage is to understand how to take advantage of the cheap introductory rate. During the first year of the loan term, the bank will only insist on you making the minimum monthly repayments. It’s up to you if you wish to pay more or not each month.
For this reason, many people miss out on the opportunity to reduce their home loan balance quickly.
After the first year, the repayments will rise, as the introductory interest rate ends and the standard variable rate is charged thereafter.
A smart customer will begin paying the amount of payment due as though the interest rate charged was already at the standard rate – even though the mortgage is charged at the cheaper introductory rate for the first twelve months.
Read the official terms and conditions
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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