Fixed Rate Home Loan - Commonwealth Bank - 1 yr fixed

Comparison Rate	6.37%
Amount	$200,000
Term	30 years
Initial Payment Est.	$1,282.61
Monthly Payment Est.	$1,231.20
Total Amount Paid Est.	$447,264
Establishment Fee	$600.00

6.64%

Target Market
A fixed rate home loan lets the customer enjoy the security of knowing their repayments will not change for the agreed fixed interest rate period they choose, 1, 2, 3, 4 or 5 ,7 10 & and 15 years ,
Housing Related (owner occupied and investment loans), including purchase of vacant land ,
Land Loan: A residential property must be built within 5 years for occupancy. ,
All Investment Housing Related, including purchase of vacant land ,
Land Loan: A residential property must be built immediately for rental. ,
Personal investment eg purchase of shares ,
Refinance, other institutions' home loans including debt consolidations; ,
Personal Purposes; ,
Personal investment eg purchase of shares ,
Not for Business or Commercial Purposes ,
Bridging Loans ,
Borrowers will have up to a maximum of 12 months to reduce the total debt to the agreed residual debt level. ,
Capacity to service interest only payments on the total debt during the bridging period is preferred but not essential (refer to BDM for further details), capacity to repay the Residual Debt on a P & I basis at the appropriate interest rate over the proposed term after the existing property is sold. The maximum LVR for bridging purposes is 90% subject to LMI (LMI can be waived refer to BDM). Note Bridging Loans can be written at any of the Bank interest rate options restrictions apply to Fixed Rates Loans or One Year Guaranteed Interest Rate option may attract an Early Repayment Adjustment.

Acceptable Income
PAYG/ Self Employed/Casual/Contractor/Got Income excluding Newstart) note Austudy not applicable

Home Loan Loan Term
Minimum: No minimum
Maximum: 30 years (subject to expected retirement age of applicant) 10 years interest only period Owner Occupier and 15 Years for Investment.

Home Loan Loan Size
Minimum: $10,000 Owner Occupier / Minimum: $20,000 Investment ,
Maximum: No Maximum

Home Loan Repayment Type
Principal & Interest and Interest Only ,
Interest in Advance (0.20% discount of Standard Fixed Rates for Interest in Advance)

Repayment Options
Weekly, fortnightly or monthly repayments Principal and Interest ,
Monthly Only during Interest only period

Extra Repayments
Additional Repayments can be made at any time (limit $10,000 per year) without incurring an Early Repayment Adjustment

Split Loan Facility
Yes available

Offset
Partial Offset (1.5%)

Redraw Facility
Not Available during the fixed rate period ,
Not during fixed rate period however any additional repayments will be available for redraw if the loan reverts to a variable rate product ,
Redraw available via Internet and Phone Banking and can be linked to ATM Card

LVR for Fixed Rate Home Loan - Commonwealth Bank - 1 yr fixed

Owner Occupier, Investment, Construction Maximum LVR 90% LVR (Max 95% for existing CBA customers who hold a CBA Consumer Finance Product - for atleast 6 months with no arrears or missed payments) plus LMI ,
External Refinance (from other financial institutes) a maximum LVR 90% ,
Vacant Land Maximum LVR 90% LVR

Fees for Fixed Rate Home Loan - Commonwealth Bank - 1 yr fixed

Application Fee: $600 ($300 for each subsequent loan if there is an existing loan). ,
Off The Plan purchases incur an application fee of $800 ,
Monthly Loan Service Fee: $8 pm ,
Settlement Attendance Fee - $150 this fee is payable when the Bank (or its representative) is required to attend settlement for the purchase of a security property, or for the refinance of a loan with another credit provider (Fee displayed as Mortgage Preparation ) ,
Settlement Fee - Discharge: $350 ,
Additional Security Fee $150 for each additional security ,
Switching Fee: Up to $300 (where switching is allowed) ,
Switching Fee -This fee is payable if your customer applies to switch all or part of their home loan or investment home loan to another home loan or investment home loan product. ,
It does not include any out-of-pocket expenses which may be payable to a third party e.g. Stamp Duty ,
LMI Arrangement Fee - The amount of LMI payable may vary according to individual loans and is based on the loan amount. Note a LMI Arrangement fee, $20.00 will apply ,
Rate Lock - $750 this fee is payable at application where the customer's) request to lock in a guaranteed or fixed interest rate (rate is locked for 90 days). Rate Lock is not available for fixed terms 7,10 & 15 years rate of funding will apply. ,
Portability Security Substitution Fee: $300 ,
Other fees and charges are payable. ,
Security Substitution Fee - A security substitution fee of $300 applies where no additional funds are sought. Where additional funds are also sought the standard establishment fee for that product applies ,
If your customer substitutes new security for the loan, they must pay this fee plus any other applicable Bank fees and Government charge ,
Stamp Duty on the Mortgage ,
Calculated on the amount of the loan and payable to the State Government Stamp Duty authority ,
NB: If the customer is buying a property, Stamp Duty on the transfer purchase price will also be payable to the State Government. ,
Refer the customer to their solicitors as to other costs they might incur. ,
Valuations - For high value properties, the Bank requires a full valuation to be undertaken by an independent Valuer. This necessitates referral to the Bank’s Chief Valuer to nominate appropriate valuers and negotiate fees. The valuation requires a detailed inspection and comprehensive written report. ,
Sydney & Melbourne metro >$2m ,
Other >$1m ,
Security Guarantee Fee -$200 (per borrower) applies where a guarantor's) provides security to support the loan. The fee is debited to the loan account (Refer Special Notes Family Equity and Guarantors ’Support Policy) ,
Deferred Establishment Fee $700 applicable if loan is repaid out within 4 years from the first loan drawing