Resi Smart Pro Home Loan
Resi Smart Pro Home Loan – Benefits and Features
The Resi Smart Pro home loan lets customers take advantage of a discounted variable rate without the added expense of any annual fees, package fees or monthly account fees.
This flexible home loan is ideal for those who want a cheap interest rate with no other ongoing costs to worry about.
The current interest rate is just 6.84%, which is 0.7% cheaper than the standard variable interest rate offered at most of the big banks. The difference with a Resi home loan is the added flexibility and features.
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
Flexible Repayments
Customers are encouraged to make an unlimited number of extra repayments off their home loan at any time without incurring any penalties. Payments can be made via direct debit from another Australian transaction account, or direct credit payments using online banking, phone banking, or BPAY payments.
In the event that you need those extra payments back for any reason, Resi will allow you to redraw any excess cash from the home loan at no charge. The free redraw facility allows you access your money when you need it most.
Flexible Loan Options
If you worry about the uncertainty of rising interest rates, it’s possible to split the home loan so that a portion of it remains on the discounted Smart Pro variable rate and another portion is locked in at a fixed rate. This allows customers to benefit no matter what the interest rates are doing.
Interest Only or Principal and Interest Payments
If you’re keen to reduce your mortgage balance as quickly as possible, opt for the standard “principal and interest” repayment option. This way, a portion of every payment you make is reducing your home loan a little more.
However, some borrowers may prefer to choose an ‘Interest Only’ option. The payment due is only the amount of accumulated interest on the account each month, with no money coming off the balance at all. This is often the option many investors choose.
Loan Purpose
The Resi Smart Pro Home Loan can be used to purchase an established home to live in or to use as an investment property. It’s also possible to apply for this discounted home loan for refinance and consolidation purposes.
Customers can also use this loan for construction purposes, with progressively drawn payments being made to your builder throughout the construction of a new home.
Other Fees That May Apply
There is $0 application fee for the Smart Pro Home Loan; however, a valuation fee of between $236.50 and $350 per property may apply.
Lender’s legal fees of up to $396 for creating the mortgage documentation will also apply.
These are once-off fees, and are only charged to cover the lender’s costs in establishing the loan.
Related posts:
- Resi Smart Option Home Loan
- Resi Smart Pro Loan
- Resi Lo Doc Home Loan
- Resi Complete Home Loan
- Resi Smart Pro Lite Home Loan
- Resi Flexi Options Home Loan
- Resi Flexi Fix Home Loan
- Resi BreakThru Home Loan
- Resi Low Start Home Loan
- Resi Flexi Fix Lite 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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