More Details

Loan Details

 

Lender
Teachers Mutual Bank
Comparison Rate
5.11
Name
My First Home Loan
Lender
Teachers Mutual Bank
Product Name
My First Home Loan
Product Details
Teachers Mutual Bank provides access to financial products and services for current or retired employees of the Australian education sector or family members of members (ie shareholders) of the Bank (Individuals must be citizens or permanent residents of Australia) For first home buyer purchasing first owner-occupied property. Max 95% LVR inc LMI for Lecturers/Teachers, For all other occupations max 90% LVR plus LMI. Can be split with any Fixed Rate Home Loan term (if the My First Home Loan is taken over a 40 year loan term and is split with a Fixed Rate Home Loan, a 40 year loan term for the fixed portion is allowable). Interest Only repayments available during construction period. Benefits include an offset facility, no monthly fees and unlimited additional repayments.
Variable Rate
5.11
Fixed Rate
Fixed Period
Introductory Discount Rate
Discount Period
Application Fees
0
Discharge Fees
Ongoing Fees
Valuation Fees
Lenders Legal Fees
Lenders Settlement Fees
Minimum Loan Amount
25000
Max Loan Amount
1000000
Owner Occupied
Y
Investment
N
Repayment Option
Principal & Interest
ACT
Y
NSW
Y
TAS
Y
QLD
Y
VIC
Y
SA
Y
WA
Y
NT
Y
Standard Variable
Y
Fixed
N
Interest In Advance
N
Reverse Mortgage
N
Basic
N
No Doc
N
Low Doc
N
Equity
N
Intro
N
Credit Impaired
N
Professional Pack
N
Minimum Loan Term (years)
1
Max Loan Term (years)
40
Rate Details
Fee Details
Application fee is waived. No ongoing fees.
Internet Banking
Y
Mortgage Offset Available
Y
Redraw Details
Redraw available - no fee. (Not available during construction)
Redraw Facility
Y
Construction
Y
Can Make Extra Repayments
Y
Repayments Fortnightly
Y
Repayments Monthly
Y
Repayments Weekly
Y
Salary Direct Available
Y
Portability
N
Split Available
Y
Split Details
Can only be split with 3 Year Fixed