Goulburn Murray Credit Union Fixed Rate 18 months - Special construction offer
Fixed rateOffsetRedraw
A home loan from Goulburn Murray Credit Union with fixed rates from 6.39% a year.
- Interest rate a year, from
- 6.39%
- Comparison rate
- 6.29%
- Upfront fees
- $500
- Annual fee
- Not published
- Monthly fee
- $8
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.39% (18 month fixed, live in, interest only), 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
- $3,203
- Total repayments
- $1,753,080
- Interest and monthly fees
- $1,153,080
Rates
Every rate Goulburn Murray Credit Union 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 |
|---|---|---|---|---|---|
| 18 month fixed | Live in | Interest only | Up to 60% | 6.39% | 6.29% |
| 18 month fixed | Live in | Interest only | 60% to 80% | 6.39% | 6.37% |
| 18 month fixed | Live in | Interest only | 80% to 95% | 6.39% | 6.71% |
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
- $500
- Annual fee
- Not published
- Monthly fee
- $8
Features
- Offset account
- Yes
- Redraw
- Yes
- Highest LVR
- 95%
- Loan amount
- From $150,000 up to $750,000
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
$500
Typical upfront fees are $600.
Smallest deposit
5%
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.
- Fixed rates on offer. You can fix for 1.5 years if you'd like repayments that don't change for a while.
- 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
Nothing stands out.