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Home Loans Basic Variable

If you don't need additional features with your home loan then why pay for them?

Interest Rate 6.57% pa
Comparison Rate 6.73% pa*
Summary

With an Illawarra Credit Union Basic Variable Home Loan you won't pay for any additional features that you don't need! Our Basic Variable is a no fuss home loan option with a low ongoing variable rate, low monthly fee and you can make additional repayments at any time to help you pay off your loan sooner.

The Basic Variable loan can be used for the purchase or refinancing of an owner occupied or investment home. You can even borrow to build your dream home or make major home improvements.

Features
Features
Redraw advance repayments - fees apply
Flexible repayment options - pay weekly, fortnightly or monthly
Loan repayment insurance available
A permanent low variable rate loan
Make higher repayments in the first year to make a flying start towards owning your own home
Own your home sooner by having your salary paid directly into the account
Loan amounts
Borrow from $30,000 (maximum subject to serviceability and security)
Repayment Options
Payroll deposit
Direct credit of your salary
Electronic funds transfer
Internet transfer
Branch deposit
Options
Home Loan Saver Account

Every credit union home loan borrower is eligible for a Home Loan Saver account which provides a fee free** alternative to everyday banking.

Flexible Repayment Options

To make budgeting easier, you can choose how often you make your repayments - weekly, fortnightly or monthly. Choosing to make your repayments weekly or fortnightly reduces the interest you pay and is an easy way to own your home sooner.

Redraw Facility

Redraw extra payments at any time. This is available on all Illawarra Credit Union mortgage loans.

Insurance

You never know what is around the corner, so we recommend you consider the Insurance Options available to Illawarra Credit Union members.


Apply Now

There are three ways to apply for a Home Loan. Simply choose the method most convenient to you. (Depending on the speed of your computer it may take a few minutes to download)

ONE Apply online

Click here and complete the online application form. Simply follow the application through to the end where you will be asked to submit. We will contact you within 24 hours to discuss your application. (You will need Adobe Reader version 6.0 or higher to access this service)

Apply Online!

TWO Download application form

Click here and print the application form then complete, sign and fax to CU Direct on (02) 4252 1287.

Download!

THREE Over the phone

Call 13 22 49 today and talk to a consultant who will be able to take an application over the phone - this normally takes about 15-20 minutes to complete.

To protect your privacy, we suggest you either restart your computer or clear the cache to ensure your personal details are not available to other users after you are finished with the application.

Normal lending criteria, terms and conditions, fees and charges apply.  Please refer to the Credit, Fees and Charges schedule for current details on fees and charges applicable to our Basic Variable Home Loan. *Based on a loan for an amount of $150,000 secured over a term of 25 years. Warning: the comparison rate only applies to the example or examples given above. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. **Fee Free relates to account keeping and transaction fees applied by the Illawarra Credit Union. Other fees and charges may apply. Interest rates effective 09/08/2010 and are subject to change.