Momentum Home Loan - Owner Occupied
Your lifestyle, family or financial situation may have changed since you purchased your property. Our Momentum Home Loan was designed to make refinancing from another financial institution easy.
Category: Home Loans Last Updated August 10, 2021 Effective September 5, 2021
General Lending Rates
Rates listed below are for a VARIABLE Owner Occupied P&I product. Additional Information Comparison rate based on $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
- Offset Additional Information: A Momentum Offset Account can be linked to a Momentum Home Loan. The money you put in your linked Mortgage Offset Account reduces the balance on which the interest is charged on your home loan.
- Redraw Additional Information: Your loan comes with a repayment redraw facility. This gives you access to additional repayments if you re at least one full repayment ahead, you can redraw $100 or more. It s simple to redraw using our App or Online Banking.
- Npp Payid Additional Information: Get faster payments between participating banks, anytime with Pay ID
- Other Additional Information: 30 years
- Other Additional Information: You can increase your loan amount throughout the life of the loan, subject to equity held in your property and our approval.
- Other Additional Information: Switching is a change to one or more aspects of your loan's terms and conditions, for example switching from a variable rate to a fixed rate.
- Other Additional Information: Splitting is when you divide one loan into two or more loan accounts, generally with different loan types, repayment types or interest rates.
- Other Additional Information: Lenders Mortgage Insurance will be required if you borrow over 80% of the value of your home (or borrow an additional amount on your existing mortgage that brings the overall loan amount over 80% LVR). LMI is a one-off cost added to the total loan amount and is not a bank fee or an establishment fee.
- Other Additional Information: Flexible repayment options weekly, fortnightly or monthly
- Other Additional Information: You can make extra repayments or repay your loan in full at any time. Extra repayments may enable you to redraw funds, subject to conditions
- Other Additional Information: A guarantor supports the loan by providing us with an additional security such as their home. By providing a guarantee, we may lend to the borrower in situations where they may not have been able to secure the full amount of the loan they require.
- Other Additional Information: This loan can be used for the purposes of refinancing your owner occupied existing loan from another lender only, with the interest rate based on LVR tiers.
Limitations & Restrictions (Constraints)
- Opening Balance of 100000