Finty
Mortgage House

Mortgage House Chameleon Commercial - Pure Commercial 50

Commercial property

Variable-rate commercial loan for owner-occupied commercial property with lending up to 50% LVR.

Written byDavid Boyd
Interest rate a year, from
7.94%
Establishment fee
Not published
Monthly fee
Not published
Borrow
$150,000 to $2,000,000

Monthly repayment

$250,000 over 5 years

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What it would cost

At the lowest published rate of 7.94%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$5,062
Total repayments
$303,715
Interest
$53,715

Loan details

Rates

Interest rate (a year)
7.94%
Rate type
Variable
Security
Not published
Type of finance
Commercial property

Limits and fees

Loan amount
$150,000 to $2,000,000
Loan term
Up to 30 years
Establishment fee
Not published
Monthly fee
Not published

How it compares

Against the other business loans we compare. Typical means the middle half of them.

Comparison rate

8.54%

From 8.54%. A typical loan starts at 8.28%.

Most you can borrow

$2,000,000

Typically you can borrow up to $4,000,000.

Longest term

30 years

30 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 7.94%, so the rate you see is the rate you get.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A lower limit. Up to $2,000,000, less than the typical $4,000,000, so it may not cover a larger purchase.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

Similar loans

Business loans of the same kind from other lenders that start at a similar interest rate.