LCA Variable Bold Alt Doc Home Loan
Variable rateOffsetRedraw
loans.com.au's Variable Bold Alt Doc Home Loan is a fully featured mortgage with a variable rate, offering flexibility to suit your needs. Borrow up to $3,000,000 (up to 80% LVR), choose principal and interest or interest-only repayments, and reduce interest with an optional offset sub-account. 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
- 6.99%
- Comparison rate
- 7.03%
- Upfront fees
- $300
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 6.99% (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
- $3,988
- Total repayments
- $1,435,603
- Interest
- $835,603
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 |
|---|---|---|---|---|---|
| Variable | Live in | Principal and interest | Up to 70% | 6.99% | 7.03% |
| Variable | Live in | Principal and interest | 70% to 80% | 7.09% | 7.13% |
| Variable | Live in | Interest only | Up to 70% | 7.44% | 7.23% |
| Variable | Live in | Interest only | 70% to 80% | 7.54% | 7.33% |
| Variable | Investment | Principal and interest | Up to 70% | 7.19% | 7.23% |
| Variable | Investment | Principal and interest | 70% to 80% | 7.29% | 7.33% |
| Variable | Investment | Interest only | Up to 70% | 7.29% | 7.27% |
| Variable | Investment | Interest only | 70% to 80% | 7.39% | 7.37% |
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
- $300
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- Yes
- Redraw
- Yes
- 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.
Variable rate
7.09%
For a home you live in, paying principal and interest. Typical is 6.62%.
Comparison rate
7.13%
For the same rate. Typical is 6.70%.
Upfront fees
$300
Typical upfront fees are $600.
Smallest deposit
20%
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.
- 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.
Similar home loans
Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.
- Variable rate from
- 7.09%
- Comparison rate
- 7.31%
- Variable rate from
- 7.09%
- Comparison rate
- 7.31%
- Variable rate from
- 7.09%
- Comparison rate
- 7.15%
