QTMB Home Equity Loan
Are you dreaming of a new car, a holiday or a home renovation?
QTMB can help you make your dreams happen with a Home Equity loan.
It doesn’t matter if you own your home outright or just the front room – to be eligible for a Home Equity Loan you only need to have a minimum of 20% equity on your home.
If you meet this criteria, QTMB can then lend you up to 80% of your loan to valuation ratio (without mortgage insurance), because we can use your property as the loan security.
With an equity loan, you’ll enjoy a variable interest rate that is much lower than a credit card or a personal loan. Plus, because you’ll be paying much less interest over the period of your loan, you’ll be able to pay it off sooner.
Taking out an equity loan doesn’t affect your home loan in any way. The two are entirely separate, so your equity loan will have a different interest rate, term and repayment schedule.
If you’d prefer a loan that is attached to your current account, we can also offer you a Home Equity Overdraft.
Features
| Feature |
Availability |
| Construction |
No |
| Refinance |
No |
| Land |
No |
| Residential |
Yes – Home improvements only |
| Investment |
No |
| Any worthwhile purpose |
Yes |
| Interest Rate |
See interest rate schedule |
| Variable |
Yes |
| Fixed |
No |
| Interest only option |
No |
| Split Loan Available |
No |
| Redraw |
Yes |
| Offset |
No |
| Minimum Loan Amount |
$20,000 |
| Maximum Term |
20 years |
| Top-ups |
Minimum $20k maximum 80% LVR |
| LVR requirement |
80% or up to 85% with LMI |
| Unlimited additional repayments |
YES |
| Available in package |
Yes |
Looking for a different type of home loan? Click here to see more
home loans Combine a Home Equity Loan with the QTMB Choices Package for even greater value -
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Interest rates are on a per annum basis and are current as at 1 October 2011. Comparison rate calculated on loan amount of $150,000 and for a term of 25 years based on monthly repayments. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Interest rate changes will be advised as required by legislation. Full terms, conditions, fees and charges for the products are available from us.