Please find below the results of a quick Interest Only Home Loan survey for Investment purpose.
Major Australian Lenders.
Investment property home loans.
Interest only, one year fixed interest rate.
No comparison rates are supplied as the rate is for investment purpose only. Borrowing costs and other fees may be tax deductible over one or several years.
Lender, rate, max LVR with mortgage insurance, application fee, monthly service fee.
ANZ 8.34% 97% $600 $10
CBA 8.69% 95% $600 $8
NAB 8.69% 100% $600 $8
St George 8.54% 95% $600 $10
WESTPAC 8.69% 100% $750 $8
This is just a snapshot to give you an idea of what’s currently available, the terms and conditions of each loan are available from your mortgage broker or direct from the lender. Products may vary from lender to lender, but are for one year fixed, interest only, investment home loans advertised by the lender as at 21/09/2008. I think Interest Only Home Loan one year fixed rates compare favourably with the standard variable home loan rates of the major lenders and give the borrower some flexibility in times of mortgage stress.
Remember, your home loan funding is an important part of your plan to create wealth through property investment. Interest only home loans can give you the edge.