LCA Fixed Bold Alt Doc Home Loan
Fixed rate
loans.com.au's Fixed Bold Alt Doc Home Loan provides certainty with fixed rate options ranging from 1 to 5 years. Borrow up to $3,000,000 (up to 80% LVR) and make additional repayments of up to $10,000 per year, with principal and interest or interest-only repayments and no ongoing fees. Available where at least one borrower is self-employed and requires an alternative method of income verification, such as Business Activity Statements.
- Interest rate a year, from
- 7.54%
- Comparison rate
- 7.18%
- Upfront fees
- $650
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 7.54% (1 year fixed, 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
- $4,212
- Total repayments
- $1,516,224
- Interest
- $916,224
Rates
Every rate LCA 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 80% | 7.54% | 7.18% |
| 1 year fixed | Live in | Interest only | Up to 80% | 7.94% | 7.22% |
| 1 year fixed | Investment | Principal and interest | Up to 80% | 7.74% | 7.38% |
| 1 year fixed | Investment | Interest only | Up to 80% | 8.14% | 7.42% |
| 2 year fixed | Live in | Principal and interest | Up to 80% | 7.54% | 7.22% |
| 2 year fixed | Live in | Interest only | Up to 80% | 7.94% | 7.30% |
| 2 year fixed | Investment | Principal and interest | Up to 80% | 7.74% | 7.42% |
| 2 year fixed | Investment | Interest only | Up to 80% | 8.14% | 7.50% |
| 3 year fixed | Live in | Principal and interest | Up to 80% | 7.54% | 7.26% |
| 3 year fixed | Live in | Interest only | Up to 80% | 7.94% | 7.38% |
| 3 year fixed | Investment | Principal and interest | Up to 80% | 7.74% | 7.46% |
| 3 year fixed | Investment | Interest only | Up to 80% | 8.14% | 7.58% |
| 4 year fixed | Live in | Principal and interest | Up to 80% | 7.84% | 7.42% |
| 4 year fixed | Live in | Interest only | Up to 80% | 8.24% | 7.56% |
| 4 year fixed | Investment | Principal and interest | Up to 80% | 8.04% | 7.62% |
| 4 year fixed | Investment | Interest only | Up to 80% | 8.44% | 7.76% |
| 5 year fixed | Live in | Principal and interest | Up to 80% | 7.84% | 7.50% |
| 5 year fixed | Live in | Interest only | Up to 80% | 8.24% | 7.67% |
| 5 year fixed | Investment | Principal and interest | Up to 80% | 8.04% | 7.70% |
| 5 year fixed | Investment | Interest only | Up to 80% | 8.44% | 7.87% |
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
- $650
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- No
- Redraw
- No
- Highest LVR
- 80%
- Loan amount
- From $50,000 up to $3,000,000
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
$650
Typical upfront fees are $600.
Smallest deposit
20%
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.
- Fixed rates on offer. You can fix for 1 to 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
- No offset account. Your savings can't reduce the interest unless you pay them into the loan.
- An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.