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

Basic Home Loan

This is a 'no frills' home or investment property loan for those who want a simple loan with a lower variable interest rate.

Main Features

Establishment Fees	$600
Administration Fees	$0
Repayment Frequency	W, F, M ¹
Additional Repayments Accepted	Yes
Redraw Available	Yes²
Redraw Fees	$0
Minimum Redraw Amount	$500
Early Repayment Penalty	Yes³
Maximum Loan Amount	No maximum
Maximum Loan Term	30 Years



		Robert wanted a Home Loan with a lower interest rate and low fees so he could pay off his home loan as quickly as possible. Robert took out a Basic Home Loan with Victoria Teachers Credit Union, which offers great value and is simple to understand.

Interest
Calculated daily and charged monthly in arrears.

Repayments
Principal & interest repayments.

Loan to Value Ratio (LVR)
Maximum 95% 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 (not available for commercial properties).

Further Information

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

•	Download a Home Loan 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 Lending Consultants, or request an application form, call 1300 654 822.

1. Weekly, fortnightly or monthly repayments.
2. Via Internet Banking only.
3. Only applies if loan is paid off within the first 5 years. Penalty is equivalent to your first minimum monthly repayment.

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