Quick start home loan image

Quick Start Home Loan

Description A home loan for borrowers who cannot contribute 5% genuine savings towards the deposit, ideally suited for first home buyers
Eligibility PAYG and Self Employed
Loan Purpose Purchase only
Loan Amount $50,000 – $750,000
Loan Term 15 – 30 years
Maximum Loan to Value Ratio (LVR) 95%
LMI Premium/Risk Fee Payable On all loans
LMI Capitalisation Cannot exceed 95% LVR
Risk Fee Capitalisation Cannot exceed 85% LVR
Interest Only Option Not Available
Fixed Interest Option Available after settlement
Line of Credit Not Available
Repayment Options Principal and Interest
Repayment Frequency Weekly, Fortnightly, Monthly
Property Requirements Registered first mortgage over Torrens, Strata or old system title
Specific Fees
  • No monthly or annual fee
  • Legal Fees from $275
  • Break costs may apply if loan is repaid during any fixed rate period

Home Loan icon for Urban MoneyAvailable Loan Features

  • Redraw
  • Offset
  • Dynamic Repayments
  • Inward Direct Debits / Credits
  • Internal Portion Transfer (if a split loan)
  • Split loan facility
  • Inward BPAY
  • BPAY
  • Outward Third Party Direct Debits
  • Loan Access System – internet banking
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