ORDE Financial Vacant Land Prime
Variable rateRedraw
The ORDE Residential Vacant Land Prime product caters to both owner-occupiers and investors seeking to purchase, refinance or release equity from residential vacant land.
- Interest rate a year, from
- 8.64%
- Comparison rate
- 8.86%
- Upfront fees
- Not published
- Annual fee
- Not published
- Monthly fee
- Not published
Monthly repayment
$600,000 over 30 years
What it would cost
At the lowest rate of 8.64% (variable, any, any). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.
- Monthly repayment
- $4,673
- Total repayments
- $1,682,332
- Interest
- $1,082,332
Rates
Every rate ORDE Financial 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 | Any | Any | Up to 65% | 8.64% | 8.86% |
| Variable | Any | Any | Up to 65% | 10.14% | 10.26% |
| Variable | Any | Any | Up to 65% | 10.24% | 10.36% |
| Variable | Any | Any | 65% to 75% | 8.84% | 9.06% |
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
- Not published
- Annual fee
- Not published
- Monthly fee
- Not published
Features
- Offset account
- No
- Redraw
- Yes
- Highest LVR
- 75%
- Loan amount
- From $100,000 up to $2,500,000
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.
Smallest deposit
25%
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.
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.