Goulburn Murray Credit Union Fixed Rate Home Loan
Fixed rateOffsetRedraw
A home loan from Goulburn Murray Credit Union with fixed rates from 6.19% a year.
- Interest rate a year, from
- 6.19%
- Comparison rate
- 6.27%
- 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 6.19% (2 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
- $3,679
- Total repayments
- $1,324,412
- Interest and monthly fees
- $724,412
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 |
|---|---|---|---|---|---|
| 1 year fixed | Live in | Principal and interest | Up to 60% | 6.24% | 6.26% |
| 1 year fixed | Live in | Principal and interest | 60% to 80% | 6.24% | 6.35% |
| 1 year fixed | Live in | Principal and interest | 80% to 95% | 6.24% | 6.71% |
| 2 year fixed | Live in | Principal and interest | Up to 60% | 6.19% | 6.27% |
| 2 year fixed | Live in | Principal and interest | 60% to 80% | 6.19% | 6.35% |
| 2 year fixed | Live in | Principal and interest | 80% to 95% | 6.19% | 6.67% |
| 3 year fixed | Live in | Principal and interest | Up to 60% | 6.59% | 6.39% |
| 3 year fixed | Live in | Principal and interest | 60% to 80% | 6.59% | 6.46% |
| 3 year fixed | Live in | Principal and interest | 80% to 95% | 6.59% | 6.46% |
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
- 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.
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 to 3 years if you'd like repayments that don't change for a while.
Cons
Nothing stands out.