Victoria Teachers Credit Union


	Home Loans


	Our Home Loans



		Mobile Mortgage Specialist



		Basic Home Loan



		Standard Home Loan



		Offset Home Loan


		Revolving Line of Credit Loan



		Construction Loan



		Bridging Loan

Revolving Line of Credit Loan

All-in-one loan that combines income, savings and credit to give you the ability to draw on your home equity as you need, up to your approved loan limit.

Main Features

Line of Credit	Yes
Establishment Fees	$600
Administration Fees	$150 p.a.
Repayment Frequency	N/A¹
Additional Repayments Accepted	Yes
Early Repayment Penalty	No
Bonus Loan Protection ²	Yes
Maximum Loan Amount	No maximum
Maximum Loan Term	30 Years



		Adam and Anna's Revolving Line of Credit Home Loan allows them the flexibility to utilise the equity in their property to invest in other assets such as shares. They have no scheduled repayments¹ and they can use funds as required within the approved loan limit.

Other Line of Credit Features
• Pre-approved Credit Card with a $5,000 limit³.
• More than one loan account available for different purposes such as share purchases, investment properties, etc.

Interest
Calculated daily and charged monthly in arrears.

Repayments
Repayments are not required. However, it is recommended that you make principal and interest repayments to reduce your loan balance.

Loan to Value Ratio (LVR)
Ma ximum 90% of the value of the property (Lenders Mortgage Insurance is required for loans of more than 80% of the value of the property).

Security
First mortgage over owner-occupied or investment property.

Further Information

How Do I Apply?
Applying for your Loan is easy:

•	Download a Line of Credit application. Complete the application and return it to the Credit Union by mail, fax or take it to one of our Member Service Centres in Camberwell or Moonee Ponds.

For a list of the documents required to apply for your Loan, download a Loan Documentation Checklist.

To book an appointment with one of our friendly Member Service Consultants, or request an application form, call 1300 654 822.

1. If at anytime the unpaid balance of the account exceeds the credit limit, you must immediately repay such amounts as is necessary to reduce the unpaid balance to the credit limit.
2. Available to eligible applicants. Conditions apply.
3. Subject to approval of loan.

Learn more about other products and services from Victoria Teachers Credit Union.