Pro Pack Home Loans

Key features

Pro Pack Home Loans basically operate exactly the same as a Variable rate home loan, however an interest rate discount is provided in exchange for an ongoing annual fee.

Typically a lender will offer up to a 0.70% rate discount for settled loans above $250,000. It is important to know the applicable discount differs from lender to lender and is usually applied to the lender’s standard variable rate

Advantages

Substantial savings can be made over the life of the loan, providing the loan size is above $250,000. Your mortgage broker will be able to calculate a ‘break even’ point for you, depending on which lender you chose.

Considerations

Ongoing annual fees are generally between $345 to $395 per anum. Some simple math will calculate the financial benefit for opting for a Pro Pack Home Loan.

Suitable for

All types of borrowers who plan to maintain a home loan greater than $250,000 for at least a 5 year period.

Pro Pack Home Loans

Institution	Actual Rate	Comparison Rate *	Institution	Actual Rate	Comparison Rate *
	7.20%	N/A		7.10%	N/A
	6.97%	7.33%		7.10%	N/A
	7.08%	N/A		7.31%	N/A
	6.99%	7.13%		7.16%	N/A

* Comparison rates are based on a loan amount of $300,000 over a 30 year term. Comparison rate schedules are available via each lender’s website or by contacting Compare-Homeloans. 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. Rates are effective as of 11-01-2011.

All information provided is a guide only and may not be complete for your purposes. Whilst displayed rates are regularly updated, neither Compare-Homeloans nor the Providers warrants the accuracy of any information and you should confirm it with the Provider before acting on it. Except for responsibilities implied by law which cannot be excluded, neither Compare-Homeloans nor the Provider is responsible for any loss, damage, cost or expense incurred by you as a result of any error, omission, or misrepresentation in relation to the data herein.