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Gateway CU

Variable Rate Home Loan

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Variable Rate Loan

VRHL Comparison

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A home loan with features and the flexibility to meet your needs - whether buying your first home, upgrading or investing in residential property.

Our variable rate home loan provides a competitive variable rate.  You have the option of selecting a Redraw Facility or an Offset Savings Account, you can minimise your interest costs and potentially shorten the term of your loan.

Contact us online about a new home loan
Downloand and print a home loan application form
Apply via Online Banking, select "Apply for a Loan" (Members only)

Features

Redraw or 100% Offset Option

You may choose between:

Redraw Facility - make additional repayments to reduce your loan balance and the accured loan interest 
                                 or

An Offset Savings Account – reduce accrued loan interest by offsetting your everyday savings

Ability to split

Your variable rate loan can also be split and combined with a Fixed Rate Loan

Loan Amount

  • Minimum $20,000
  • Maximum 95% of security property valuation

Lenders Mortgage Insurance

Applicable if you borrow more than 80% of security property valuation

Loan Term

Up to 30 years

Repayment Options

  • Weekly
  • Fortnightly
  • Monthly
  • Principal plus interest
  • Interest only (up to 3 years)

Additional Repayments

No restrictions – so you can pay off your loan faster and save on interest costs

Portability

If you sell your home and buy a new one, you can request to keep the same loan – without having to apply again. Our normal credit criteria will apply

Loan Setup Costs

Yes - Refer to Loan Fees 

Account Keeping Fees

None

Loan Contract Fees

Over the life of your loan contract, Government charges, credit fees and other charges may apply (details on request)

Online Application

Apply Now


Contact us online about a new home loan
Contact us online about your existing Gateway home loan
Downloand and print a home loan application form
Apply via Online Banking, select "Apply for a Loan" (Members only)

* Important Information
1. Applications are subject to our normal credit assessment criteria.
2. Terms and Conditions apply and together with interest rates are subject to change.
3. 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.
4. Comparison rates are based on a loan amount of $150,000 over 25 years. View the Comparison Rate Schedule.
5. Loan Fees and charges apply. Other Fees and Charges may apply.
6. A choice between a Redraw Facility or an Offset Savings Account is only available on variable loans. Fees and Charges may apply.
7. You must be registered for Online Banking to have a Redraw Facility.  To register, contact Member Services on 1300 302 474.
8. Please read the relevant Product Disclousure Statements.


 

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