Finty
The Capricornian

The Capricornian Access Equity Home Loan

Variable rateRedraw

The Access Equity Home Loan allows you to use the equity you already have in your home for any worthwhile purpose.

Written byDavid Boyd
Interest rate a year, from
8.09%
Comparison rate
8.14%
Upfront fees
$1,000
Annual fee
Not published
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 8.09% (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
$4,440
Total repayments
$1,598,504
Interest
$998,504

Rates

Every rate The Capricornian publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestAny8.09%8.14%

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
$1,000
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
No
Redraw
Yes
Highest LVR
Not published
Loan amount
From $5,000

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

8.09%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

8.14%

For the same rate. Typical is 6.70%.

Upfront fees

$1,000

Typical upfront fees are $600.

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.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A higher variable rate. 8.09%, above the typical 6.62%. On a $600,000 loan, every 0.10% more costs about $600 a year.
  • No offset account. Your savings can't reduce the interest unless you pay them into the loan.
  • A $20 late payment fee. Setting up automatic repayments avoids it.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.