Westpac Rocket Repay Home Loan

If you are looking for a home loan that offers a variable interest rate and is packed with features that are designed to save you money and help you cope with any changes that may arise in the future then the Westpac rocket repay home loan might be for you. This home loan offers redraw, offset account and top up to name a few of its features.

Home Loan	Details	Interest Rate (p.a.)	Comp Rate^ (p.a.)	App Fee / Ongoing Fee	Max LVR	Min & Max Borrowing
Westpac Rocket Repay Home Loan	Rocket Repay Home Loan	7.09%	7.22%	$600 / $8	92%	$25,000 / $10,000,000

Features and Options of the Rocket Repay Home Loan

The features and options that are listed below on the Westpac rocket repay home loan gives the borrower flexibility and peace of mind, no matter what stage of home ownership you are at. Consider whether the features of the Rocket Repay home loan would work for you now, and into the future:

• Parental leave

This option allows you to reduce the repayments on your home loan by up 50% for as long as six months if you are going to have a baby, this is subject to you being able to fulfil the bank’s criteria when you apply.

• Can be used to build.

The Westpac rocket repay home loan can be used if you want to build a new home. This means that you can draw down on the available funds to pay your builder or contractors.

• Making extra repayments

If you would like to make some extra repayments or simply increase your repayment amount then you can, without worrying about incurring any fees.

• Paying your loan

The mortgage payment for the Westpac rocket repay home loan can be paid either weekly monthly or fortnightly this mean that you’re sure to be able to find a repayment frequency that suits your situation.

• Repayment holiday

This feature on the Westpac rocket repay home loan let’s you skip part or all of your home loan repayment as long as you are ahead on your home loan repayments. This option is subject to approval by Westpac.

• Interest only

You are able to pay only the interest portion of your home loan repayments to allow you to free up extra funds. You can make interest only payments on the Westpac rocket repay home loan for up ten years.

• Low doc version

If you have your own business and are unable to show proof of income then you are still able to apply for a Westpac rocket repay home loan you will need to provide the following: your ABN; a signed borrowers income declaration; Business Activity Statements (BAS) for the last twelve months; and your registered business name.

• Variable interest rate

The variable interest rate that’s on offer by Westpac on their rocket repay home loan is currently 7.09% Since the rate is variable, it can be changed by the bank if there is a change in the official interest rate or the bank’s funding costs rise.

• Can be linked to a advantage package

The Westpac rocket repay home loan can be linked to Westpac’s advantage package. This package has a annual fee of $395 and gives the home loan customer a complete banking solution by providing: A discount of up to 0.70%pa off the standard variable rate; An every day transaction account without any monthly fees; Westpac will offer you a credit card with no annual fee; Discounts of Westpac’s insurance products; Removes the loan establishment and monthly fees.

• Top up

This features offers the Westpac home loan customer the ability to increase the size of their home loan if they need to access additional funds, this option has a $400 fee and is subject to the bank’s approval, but can save you a lot of costs common to refinancing a loan.

If you like the sound of the feature packed Westpac rocket repay home loan then you should fill out a online enquiry form or you can call Home Loan Finder’s Australian call centre, our experts will be able to help you select and apply for the home loan that suits you best from Westpac and a host of other lenders.