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Home / Loans / Owner Occupied Loan / Home Loan Comparison Table

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The following is our range of owner occupied home loans. If you're interested in our range of loans for investment purposes click here.

 

  Home Sweet Home Loan SPECIAL Value Plus Home Loan Platinum Home Loan Classic Home Loan Basic Home Loan Handyloan Secured Line of Credit KickStart First Home Buyer Loan Fixed Home Loans Mortgage Breaker 100% Offset
Description A home loan with a 24 month discounted rate. A special home loan with the flexibility to repay and redraw.*** A home loan for loans over $150,000 and features a Platinum Loan bundle that includes a discounted rate, fee-free transaction banking and more!** A home loan that offers real flexibility so you can manage your mortgage as you choose. A straight forward home loan that is flexible to your needs. Draw on a larger amount of money secured by a line of credit to purchase or build the house you really want. A fully-featured home loan at a great rate that is designed especially for first home buyers. Provides you with the peace of mind that comes from knowing that your rates and payments remain the same for a fixed period of time. Note the example below is for 1 year fixed loan. 2, 3 & 5 year fixed loans are also available. The Mortgage Breaker allows you to have a savings account of which 100% of the balance is offset against your home loan saving your money.
Interest rates
Interest rate 3.99% pa^ 4.19% pa 4.59% pa 5.09% pa 4.69% pa 5.09% pa 4.44% pa 4.09% pa1 4.69% pa
Comparison rate 4.57% pa* 4.36% pa* 4.74% pa* 5.10% pa* 4.82% pa* N/A 4.60% pa* 4.69% pa* 4.91% pa*
Loan amounts and repayment terms
Minimum loan amount $200,000 $150,000 $150,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000
Maximum loan amount 80% of property value. 80% of property value. 95% of property value with mortgage insurance 80% of property value. 95% of property value with mortgage insurance 80% of property value. 95% of property value with mortgage insurance 80% of property value. 95% of property value with mortgage insurance 80% of property value. 95% of property value with mortgage insurance 80% of property value. 95% of property value with mortgage insurance 80% of property value. 95% of property value with mortgage insurance. 80% of property value. 95% of property value with mortgage insurance
Loan period Up to 30 years Up to 30 years Up to 30 years Up to 30 years Up to 30 years Ongoing Up to 30 years Up to 30 years Up to 30 years
Repayments and redraw options
Repayment frequency Weekly, fortnightly or monthly Weekly, fortnightly or monthly Weekly, fortnightly or monthly Weekly, fortnightly or monthly Weekly, fortnightly or monthly Weekly, fortnightly or monthly Weekly, fortnightly or monthly Weekly, fortnightly or monthly Weekly, fortnightly or monthly
Interest only available No No No No No No No No No
Additional repayments accepted Yes  Yes  Yes  Yes  Yes  Yes  Yes  Yes 2 Yes 
Redraw available Yes  Yes  Yes  Yes  Yes  No  Yes  Yes  Yes 
Minimum redraw amount $500  $500 

$500 

$500 

$500 

N/A

$500 

$500  $500 
Loan repayment insurance Optional Optional Optional Optional Optional Optional Optional Optional Optional
Fees
Establishment fee $0  $350  $0  $0 $350 $250 $350 $350 $250 
Monthly fee $0  $8  $0  $0  $5  $5  $8  $0  $0 
Annual fee $0 $0 $150  $0 $0 $0 $0 $0 $150 
Redraw fee $0  $0  $0  $0  $0  N/A $0  $0  $0 
Early break fee No No No NA No No No Yes No
  Additional Information

* Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years. WARNING: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in different comparison rates.
** Terms and conditions, fees & charges apply and are available on application. The Platinum Loan has an annual fee; this is published in the Loan Fees & Charges brochure. Approval conditions apply. The loan is secured & the rate is variable. Discounted insurance for the first year of the loan on general insurance - motor vehicle, home and contents. Normal every day transactions are fee free. See the Miscellaneous Fees & Charges brochure for occasions where the fees are not absorbed. Fee-free Visa Debit and Credit Card relates to the annual or monthly credit union fee. A Product Disclosure Statement (PDS) is available for all non-loan products from any office of Horizon Credit Union and on Horizon's website. You should consider the PDS in deciding whether to hold or buy the products. Third parties may charge for use of some facilities.
*** This loan product applies to new loans only. Please see Loan Fees & Charges brochure for details.
^ The rate is discounted for 24 months by 0.7%p.a. based on the Basic Home Loan. At the end of the 24 month period, the rate will revert to the Basic Home Loan rate at the time. Additional fees and charges will apply.
# Family members who can provide their property as security include parents, grandparents, siblings, sons and daughters. The Family Equity Loan is not available for existing loans, refinances or investment property purchases. A Registered First Mortgage over purchased property and family member's property is required
1. At the end of the fixed rate period the rate will revert to the Horizon Basic Home Loan standard variable rate.
2. Fees may apply, if over a 12 month period, $30,000 or more is repaid over and above scheduled repayment amounts.

1 Fixed rate reverts to our Basic Home Loan variable rate after fixed term period.