Finty
Community First Credit Union

Community First Credit Union Community Advantage Variable Owner Occupied (Principal and Interest)

Variable rateRedraw

A variable rate for owner occupiers currently working in eligible professions, includes an LMI fee waiver for LVR up to 90%

Written byDavid Boyd
Interest rate a year, from
6.79%
Comparison rate
6.84%
Upfront fees
$2,100
Annual fee
$50
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 6.79% (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
$3,908
Total repayments
$1,406,720
Interest
$806,720

Rates

Every rate Community First Credit Union publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestAny6.79%6.84%

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
$2,100
Annual fee
$50
Monthly fee
Not published

Features

Offset account
No
Redraw
Yes
Highest LVR
90%
Loan amount
From $50,000

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.

Variable rate

6.79%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

6.84%

For the same rate. Typical is 6.70%.

Upfront fees

$2,100

Typical upfront fees are $600.

Annual fee

$50

A typical annual fee is $350.

Smallest deposit

10%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • 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

  • Higher upfront fees. $2,100, above the typical $600, which adds to the cash you need at settlement.
  • No offset account. Your savings can't reduce the interest unless you pay them into the loan.
  • A $25 late payment fee. Setting up automatic repayments avoids it.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.