Loan Types. Auspak.
No matter what type of borrower you are, from a first home buyer to a seasoned investor, Auspak has a loan that is perfect for you. Select the type of loan that you require from the list below to find out more.
Standard home loans require regularly scheduled principal and interest or interest only repayments on a fixed or variable rate and full income declaration.
A line of credit is often used by those wishing to access the equity in their existing home for renovations, investments or other purposes such as a holiday or buying a car.
Many Australians use a line of credit for debt minimisation, where by they have their salary directly deposited into the loan and use a credit card for day to day purchases. The credit card balance is then paid from the line of credit before the interest-free days expire.
Lo doc loans are available as fully featured term loans or lines of credit but may be at a higher rate than standard (full doc) home loans.
How does it work?
The balance of your offset account essentially decreases your loan balance. The more money you have in your offset account, the lower your loan account balance (that your interest repayment calculation is based on) will be.
How to make your offset account work for you
- Have a salary / income deposited into the offset account
- Transact on your offset account with your debit card (i.e. ATM, EFTPOS, giroPost & BPAY)
- Repayments are made from the offset account to loan ccount
- You can redraw from your loan account to offset account if required
- Ensure that you have sufficient funds in this account for loan repayments
Whatever your finance needs we welcome the opportunity to talk to you. Please contact us today for an obligation free consultation.Contact us today!