AMB Bank DHOAS 1 Year Fixed Rate Home Loan
Fixed rate
A Fixed Rate Home Loan gives you the best of both worlds - peace of mind with the certainty of fixed rates, without being locked in for a long period of time available for DHOAS eligible applicants.
- Interest rate a year, from
- 6.39%
- Comparison rate
- 7.00%
- Upfront fees
- $450
- Annual fee
- Not published
- Monthly fee
- $750
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.39% (1 year fixed, live in, principal and interest), including the monthly fee. The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $4,499
- Total repayments
- $1,619,679
- Interest and monthly fees
- $1,019,679
Rates
Every rate AMB Bank 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 |
|---|---|---|---|---|---|
| 1 year fixed | Live in | Principal and interest | Up to 98% | 6.39% | 7.00% |
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
- $450
- Annual fee
- Not published
- Monthly fee
- $750
Features
- Offset account
- No
- Redraw
- No
- Highest LVR
- 98%
- Loan amount
- From $150,000 up to $5,000,000
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.
Upfront fees
$450
Typical upfront fees are $600.
Smallest deposit
2%
Most loans need at least 10% of the price.
Pros and cons
Pros
- A smaller deposit. You can borrow with 2% down, so you may buy sooner. Under 20%, lenders mortgage insurance usually applies.
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
- No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
- Fixed rates on offer. You can fix for 1 year if you'd like repayments that don't change for a while.
Cons
- No offset account. Your savings can't reduce the interest unless you pay them into the loan.
- A $20 late payment fee. Setting up automatic repayments avoids it.