What rate are you paying on your Variable Home Loan?

[maz]

Our loan is now 5.1% - we got a special rate when we got our variable with the commonwealth that for the first 3 years of the loan we get an extra .25% of the rate. love it....I checked today to see our repayments and if we keep paying what we are at the moment our homeloan will be paid of in 11 years .... as if that is going to happen

[Maruschke]

5.07% with Heritage, I love heritage! They pass on the full rate cute every time, unlike some of the other banks (grrr!!!).

[Karina]

Melbel, I guess as long as its going to save you money then why not change!

[Jewel]

Ours went from 6.060% to 5.060% last week.

[Yael]

We are 5.43% and Wizard (GE money) are not going to pass on any of the last rate cut.. They have sold to Aussie, and they are basically getting out of the home loan market. There is some post of their website about waiving fees for leaving them, but i'm not too sure about what our options are, so i'm waiting to have a meeting with our home loan guy next week, but looks like i'll be in the market for a new home loan.

Ok, for those that have their interest rate in the 5's - are you able to make f/nly and extra repayments? Do you pay ongoing fees, or only application fees?

[Maruschke]

Ok, for those that have their interest rate in the 5's - are you able to make f/nly and extra repayments? Do you pay ongoing fees, or only application fees?

I pay weekly, a bit more each week than is required, and I think our application fee was either $400 or $600.

HTH

[Karina]

Yael,
we're on 5.2% for our home loan. We're with a credit union and there are no monthly fees for it, although we had to link it to our savings account with the same credit union and they have been charging a $2 per month fee for the savings account.
When we applied for our loan, we applied for a "first home buyers home loan" and there were no application fees at all, then we changed from that loan to our current loan and we paid $200 to switch it over. I think normally there is an application fee but I'm not sure how much it is. We can pay monthly, weekly or fortnightly, and we have a redraw facility where you can redraw as little as $1 or as much as the entire amount available in your redraw. We pay ours fortnightly, it just comes directly our of DH's pay and the credit union puts it straight into the home loan account.