Intro Rate Home Loan - Commonwealth Bank - 12 Month Discounted Variable Rate

Comparison Rate	6.24%
Amount	$200,000
Term	30 years
Initial Payment Est.	$1,099.46
Monthly Payment Est.	$1,227.07
Total Amount Paid Est.	$443,664
Establishment Fee	$600.00

5.21%

Target Market
A home loan with an interest rate that moves in line with the market. Just as it is subject to interest rate rises this home loan provides the customer with interest rate decreases in line with movements in the market. The loan provides customers freedom of choice in repayment frequencies and special repayments ,
Housing Related (owner occupied), including purchase of vacant land ,
Land Loan: A residential property must be built within 5 years for occupancy. ,
Construction (owner occupied) ,
Refinance, other institutions' home loans including debt consolidations; ,
Personal Purposes; ,
Personal investment eg purchase of shares ,
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)

Home Loan Loan Term
Minimum: No minimum
Maximum: 30 years (subject to expected retirement age of applicant), Interest Only Period - 5 years

Home Loan Loan Size
Minimum: $10,000 ,
Maximum: No Maximum

Home Loan Repayment Type
Principal and Interest and Interest Only ,
Discount off and varying with the Standard Variable rate, converts to standard variable rate at end of Introductory Period ,
Discount off the Standard Variable Rate but fixed for 1 year, converts to ,
standard variable rate at end of introductory Period

Repayment Options
Weekly, fortnightly or monthly repayments ,
Monthly Only during Interest only period ,
Early payout ,
Deferred Establishment Fee $700 applicable if loan paid out within 4 years ,
Early Repayment Adjustment incurred if 1 year guaranteed repaid with 12 months

Extra Repayments
Additional Repayments of any amount can be made without incurring an Early Repayment Adjustment (ERA). ,
Interest Only - special payments can be made only - must be made separately to the direct entry ie through B pay or AFT.

Split Loan Facility
Yes splits available

Offset
Mortgage Interest Saver Account (MISA) - 100% offset

Redraw Facility
Yes - Minimum $500 by electronic request and $1,000 from the branch. No redraw fee. ,
Redraw available via Internet and Phone Banking and can be linked to ATM Card

LVR for Intro Rate Home Loan - Commonwealth Bank - 12 Month Discounted Variable Rate

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 Intro Rate Home Loan - Commonwealth Bank - 12 Month Discounted Variable Rate

Application Fee: $600 ($300 for each subsequent loan if there is an existing loan). ,
Off The Plan purchases incur an application fee of $800 ,
Additional Security Fee- $150 for each additional security ,
Monthly Loan Service Fee: $8 ,
Progress Draw Fee $50.00 ,
Switching Fee: Up to $300 where switching is allowed) ,
A settlement fee of $150 will apply to all H/L Invest Loans/ Lines of Credit/ where the bank is required to physically attend a settlement and where a new mortgage security to be obtained (Fee displayed as Mortgage Preparation) ,
Settlement Fee - Discharge: $350 ,
Security Substitution - 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 ,
Other fees and charges are payable ,
Application for Increase $300 ,
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