Finty
The Capricornian

The Capricornian Variable Rate Offset Home Loan

Variable rateOffsetRedraw

Our Variable Rate Offset Home Loan is packed full of features for owner occupiers to get into their ideal first home, or forever home. With a sharp variable rate, 100% offset facility, standard establishment fee waived and no penalty for extra repayments, this home loan was designed with owner occupiers in mind.

Written byDavid Boyd
Interest rate a year, from
6.44%
Comparison rate
6.44%
Upfront fees
$400
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 6.44% (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
$3,769
Total repayments
$1,356,755
Interest
$756,755

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 interestUp to 80%6.44%6.44%
VariableLive inPrincipal and interest80% to 97%6.74%6.74%

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
$400
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
Yes
Redraw
Yes
Highest LVR
97%
Loan amount
From $250,000

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

6.44%

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

Comparison rate

6.44%

For the same rate. Typical is 6.70%.

Upfront fees

$400

Typical upfront fees are $600.

Smallest deposit

3%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • A smaller deposit. You can borrow with 3% down, so you may buy sooner. Under 20%, lenders mortgage insurance usually applies.
  • 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.

Cons

  • A $5 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.