AFG Home Loans Retro Retro Lite Specialist
Variable rateOffsetRedraw
A low doc OO/INV variable home loan with both P&I and IO rate for non-conforming customers
- Interest rate a year, from
- 7.74%
- Comparison rate
- 8.16%
- Upfront fees
- $999
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 7.74% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $4,294
- Total repayments
- $1,545,958
- Interest
- $945,958
Rates
Every rate AFG Home Loans Retro publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.
| Rate | Property | Repayments | LVR | Interest rate | Comparison rate |
|---|---|---|---|---|---|
| Variable | Live in | Principal and interest | Up to 60% | 7.74% | 8.16% |
| Variable | Live in | Principal and interest | Up to 60% | 7.74% | 8.16% |
| Variable | Live in | Principal and interest | Up to 60% | 7.94% | 8.36% |
| Variable | Live in | Principal and interest | 60% to 70% | 7.74% | 8.18% |
| Variable | Live in | Principal and interest | 60% to 70% | 7.74% | 8.18% |
| Variable | Live in | Principal and interest | 60% to 70% | 7.94% | 8.38% |
| Variable | Live in | Principal and interest | 70% to 80% | 7.94% | 8.42% |
| Variable | Live in | Principal and interest | 70% to 80% | 7.94% | 8.42% |
| Variable | Live in | Principal and interest | 70% to 80% | 8.08% | 8.56% |
| Variable | Live in | Interest only | Up to 60% | 8.04% | 8.27% |
| Variable | Live in | Interest only | Up to 60% | 8.04% | 8.27% |
| Variable | Live in | Interest only | Up to 60% | 8.24% | 8.47% |
| Variable | Live in | Interest only | 60% to 70% | 8.04% | 8.29% |
| Variable | Live in | Interest only | 60% to 70% | 8.04% | 8.29% |
| Variable | Live in | Interest only | 60% to 70% | 8.24% | 8.49% |
| Variable | Live in | Interest only | 70% to 80% | 8.24% | 8.53% |
| Variable | Live in | Interest only | 70% to 80% | 8.24% | 8.53% |
| Variable | Live in | Interest only | 70% to 80% | 8.38% | 8.67% |
| Variable | Investment | Principal and interest | Up to 60% | 8.04% | 8.46% |
| Variable | Investment | Principal and interest | Up to 60% | 8.04% | 8.46% |
| Variable | Investment | Principal and interest | Up to 60% | 8.24% | 8.66% |
| Variable | Investment | Principal and interest | 60% to 70% | 8.04% | 8.48% |
| Variable | Investment | Principal and interest | 60% to 70% | 8.04% | 8.48% |
| Variable | Investment | Principal and interest | 60% to 70% | 8.24% | 8.68% |
| Variable | Investment | Principal and interest | 70% to 80% | 8.24% | 8.72% |
| Variable | Investment | Principal and interest | 70% to 80% | 8.24% | 8.72% |
| Variable | Investment | Principal and interest | 70% to 80% | 8.38% | 8.86% |
| Variable | Investment | Interest only | Up to 60% | 8.04% | 8.43% |
| Variable | Investment | Interest only | Up to 60% | 8.04% | 8.43% |
| Variable | Investment | Interest only | Up to 60% | 8.14% | 8.49% |
| Variable | Investment | Interest only | Up to 60% | 8.14% | 8.49% |
| Variable | Investment | Interest only | Up to 60% | 8.24% | 8.63% |
| Variable | Investment | Interest only | Up to 60% | 8.34% | 8.69% |
| Variable | Investment | Interest only | 60% to 70% | 8.04% | 8.46% |
| Variable | Investment | Interest only | 60% to 70% | 8.04% | 8.46% |
| Variable | Investment | Interest only | 60% to 70% | 8.14% | 8.51% |
| Variable | Investment | Interest only | 60% to 70% | 8.14% | 8.51% |
| Variable | Investment | Interest only | 60% to 70% | 8.24% | 8.66% |
| Variable | Investment | Interest only | 60% to 70% | 8.34% | 8.71% |
| Variable | Investment | Interest only | 70% to 80% | 8.24% | 8.69% |
| Variable | Investment | Interest only | 70% to 80% | 8.24% | 8.69% |
| Variable | Investment | Interest only | 70% to 80% | 8.34% | 8.74% |
| Variable | Investment | Interest only | 70% to 80% | 8.34% | 8.74% |
| Variable | Investment | Interest only | 70% to 80% | 8.38% | 8.83% |
| Variable | Investment | Interest only | 70% to 80% | 8.48% | 8.88% |
Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Fees and features
Fees
- Upfront fees
- $999
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- Yes
- Redraw
- Yes
- Highest LVR
- 80%
- Loan amount
- Not published
How it compares
Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.
Variable rate
7.94%
For a home you live in, paying principal and interest. Typical is 6.62%.
Comparison rate
8.42%
For the same rate. Typical is 6.70%.
Upfront fees
$999
Typical upfront fees are $600.
Smallest deposit
20%
Most loans need at least 10% of the price.
Pros and cons
Pros
- An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
- 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.
- Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.
Cons
- A higher variable rate. 7.94%, above the typical 6.62%. On a $600,000 loan, every 0.10% more costs about $600 a year.
Similar home loans
Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.
- Variable rate from
- 7.95%
- Comparison rate
- 8.45%
- Variable rate from
- 7.95%
- Comparison rate
- 8.45%
- Variable rate from
- 7.91%
- Comparison rate
- 8.26%
