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Line of Credit

If you are looking for the flexibility a Line of Credit Home Loan can provide – then resi has the solution for you.

Our Line of Credit facility is perfect for when you’re in need of extra funds. It provides you with the ability to draw down and repay money as required at a competitive rate of interest.

It’s money you can access whenever you want, for whatever you need: renovations, paying bills, or even investing.

It can also be very cost-effective, because you only need to draw the amount you need and unlike a loan, you won’t pay interest on the money you don’t use.

Product Details

Key Features

Loan Purpose: To purchase or refinance an owner occupied or investment residential property. Debt consolidation.
Borrower Type: Available to borrowers providing full supporting documentation and evidence of income.
Loan Term: 30 Years
Minimum Loan Amount: $10,000
Maximum Loan Amount: $2,000,000
Maximum LVR: 90%
Mortgage Insurance: $0 for any loan amount when the LVR is less than 80%. Otherwise payable by borrower.
Mortgage Insurance Capitalisation: Yes, you can add your mortgage insurance cost to your loan rather than having to pay it upfront. Restrictions apply.
Interest Calculation Calculated on the daily balance and debited monthly in arrears.

Other Features

Extra Repayments false
Redraw Facility Yes
Repayment Frequency Weekly, fortnightly or monthly.
Internet & Phone Banking Yes
Debit Card Yes
Interest Only Period Yes, up to 10 years. Minimise your repayments and free up cash by paying interest only.
Suitable for Overseas Borrowers: No
Suitable for Self Employed:
Additional Information: Interest capitalisation available. Chequebook access.


Establishment Fees $0
Ongoing Fees None
Valuation Fees $264
Discharge Fees $295
Lenders Legal Fees $385
Early Repayment Fees None
Redraw Fees Not Applicable

What you need to know:
Terms and conditions, fees and charges, normal lending criteria apply. Details available on request.

Comparison rates are based on a loan of $150,000 over 25 years.

Warning: The comparison rate is true only for the example or examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate. A comparison rate schedule can be found on our website.

When considering which is the best home loan for you, mortgage rates are indeed important but you also need to look at your overall situation and what flexibility you need as well as any related fees initial or ongoing fees.