Interest-Only Home Loans
Variable Home Loan
An Interest only term reduces your repayment, so you’ll only be repaying your loan interest for an agreed interest - only period of 1- 5 years.
At the end of the interest only period, your loan will change to a 'principal and interest' loan where you'll start repaying the amount borrowed, as well as interest on that amount, resulting in higher repayments.
Our home loans
| Home Loan | Interest Rate | Comparison Rate | Monthly Repayment | Product Features | Details |
|---|---|---|---|---|---|
Variable Home LoanOwner Occupied • Interest Only • Up to 80% LVRMost Popular
|
6.54% p.a. | 6.56% p.a. | $2,725 |
|
Do I Qualify? |
Green Home LoanOwner Occupied • Interest Only • Up to 80% LVR |
6.49% p.a. | 6.67% p.a. | $2,704 |
|
Do I Qualify? |
Solar Home LoanOwner Occupied • Interest Only • Up to 80% LVR |
6.49% p.a. | 6.67% p.a. | $2,704 |
|
Do I Qualify? |
Who is best suited to an interest-only loan?
Interest-only loans can be a great option
For investors, or for home buyers who’d prefer to spend money on making improvements to the property rather than paying off the principal at the beginning of the loan. There may also be tax benefits for investors who choose an interest only loan.
Why choose a Interest-Only Home Loan?
Interest only period
Enjoy lower repayments during the interest-only period of your home loan so you can save extra cash or renovate.
Perks for Investors
Reap potential tax benefits by offsetting rental income against your costs, and use the extra cashflow to renovate your property.
We'll switch you
We will notify you of the change, the new repayment amount and automatically transfer your loan to principal and interest.
Unexpected events
Temporarily reducing your home loan repayments could help ease some financial pressure, when life's unexpected events happen.
A home loan that gives you budget confidence
Here’s your new offer
Rates
Owner Occupier
Variable Home Loan
1 Year Fixed
2 Year Fixed
3 Year Fixed
Interest Rate:
6.54% p.a.***
6.94% p.a.*
6.74% p.a.*
6.64% p.a.*
Comparison Rate:
6.56% p.a.*
6.77% p.a.*
6.76% p.a.*
6.74% p.a.*
Max LVR:
80%
80%
80%
80%
Investor
Variable Investor Home Loan
1 Year Fixed
2 Year Fixed
3 Year Fixed
Interest Rate:
6.74% p.a.+
7.14% p.a.*
6.94% p.a.*
6.84% p.a.*
Comparison Rate:
6.76% p.a.*
6.97% p.a.*
6.96% p.a.*
6.94% p.a.*
Max LVR:
90%
80%
80%
80%
Key Features
Up to 30 years loan term
Available for refinance or purchase
Flexible repayment options
Repayments
Frequency
Monthly
Estimated repayments
$2,725 per month#
The monthly repayment estimate is based on a $500,000 loan over 30 years at 6.54% p.a. paying interest only.
Fees
Application fee
$0
Ongoing fees
$0
Security assessment fee
$230
Government fees
At cost
Settlement fee
$300
Optional rate lock fee
$350*^
Owner Occupier
Variable Home Loan
Interest Rate:
Comp Rate:
Max LVR:
6.54% p.a.***
6.56% p.a.*
80%
1 Year Fixed
Interest Rate:
Comp Rate:
Max LVR:
6.94% p.a.*
6.77% p.a.*
80%
2 Year Fixed
Interest Rate:
Comp Rate:
Max LVR:
6.74% p.a.*
6.76% p.a.*
80%
3 Year Fixed
Interest Rate:
Comp Rate:
Max LVR:
6.64% p.a.*
6.74% p.a.*
80%
Investor
Variable Investor Home Loan
Interest Rate:
Comp Rate:
Max LVR:
6.74% p.a.+
6.76% p.a.*
90%
1 Year Fixed
Interest Rate:
Comp Rate:
Max LVR:
7.14% p.a.*
6.97% p.a.*
80%
2 Year Fixed
Interest Rate:
Comp Rate:
Max LVR:
6.94% p.a.*
6.96% p.a.*
80%
3 Year Fixed
Interest Rate:
Comp Rate:
Max LVR:
6.84% p.a.*
6.94% p.a.*
80%
Up to 30 years loan term
Available for refinance or purchase
Flexible repayment options
Frequency
Weekly, monthly or fortnightly
Estimated repayments
$2,725 per month#
The monthly repayment estimate is based on a $500,000 loan over 30 years at 6.54% p.a. paying interest only.
Application fee
$0
Ongoing fees
$0
Security assessment fee
$230
Government fees
At cost
Settlement fee
$300
Optional rate lock fee
$350*^
As seen on...
"We found that loans.com.au still had a very competitive rate and we were happy with the service"
Laura
Home loan customers
Meet the team who’ll start saving you thousands
Our home loan application process
Application
Simply fill out your home loan application online by entering some of your details, or chat to one of our friendly lending specialists over the phone and they can complete your application for you.
onTrack
After your application is complete, use our system we call onTrack on your desktop or device to add your documentation such as payslips and bank statements, and track the progress of your application.
Speak to specialist
You will then have an appointment with one of our lending specialists to organise your preliminary approval of your loan, and help you progress through the home loan approval process through to settlement as quickly as possible.
Signing document
Check onTrack to received your final approval, mortgage documents and loan agreement. You must sign these and return them in to onTrack.
Settlement
Your loan will settle and you’ll start saving with your new loan rate, and get your keys to your new dream home!
Access your account
Once settlement is complete, we will send your login credentials to start managing your payments in the Smart Money app.
Frequently Asked Questions
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