Chameleon - Executive Home Loan 60
Interest Rate
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p.a
Comparison Rate^
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p.a
Key Features
Redraw Facility
Additional Repayments
Loan Type
MIn & Max Loan
Settlement Fee
Discharge Fee
Introducing the Executive Home Loan – Your Key to Unlocking Your Dream Home!
If you’ve diligently built up substantial equity in your property and are currently employed by one of our qualifying employers listed under Essentials Employer’s List (which includes all Government Employees and the Top 200 ASX listed companies), then look no further! The Executive Home Loan is tailor-made for you.
This exceptional home loan is jam-packed with a myriad of outstanding features, offering you the financial flexibility and freedom you deserve. But that’s not all! The Executive Home Loan comes with a market-leading variable interest rate, ensuring that you benefit from one of the best rates in the market.
Whether you’re in pursuit of your next dream home or planning to refinance for substantial savings, the Executive Home Loan is your gateway to a brighter future. Don’t miss out on this incredible opportunity – contact us today to seize the keys to your dream home and secure your financial aspirations!
Repayment Calculator
Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House’s prevailing credit criteria apply. Please note that your actual fortnightly repayment would be equal to the monthly repayment amount divided by two. Weekly repayments would equal the monthly repayment amount divided by four. If you choose to pay fortnightly or weekly, your actual repayments will be higher than repayments shown on this page. You can reduce the term of your loan if you choose to make repayments fortnightly or weekly. We recommend you seek independent legal and financial advice before proceeding with any loan.
Loan Details
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Interest RateComparison RateThe Comparison Rate is based on a loan of $150,000.00 over 25 years. Fees and charges may be payable. WARNING: The comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
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Owner Occupied5.14% p.a.5.18% p.a.
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Maximum LVR60%
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Minimum Loan Size$150,000.00
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Maximum Loan Size$1,500,000.00
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Fixed Rates
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Loan SplittingThe ability to have many separate accounts under one loan for which there may be multiple purposes, e.g personal and investment splits, fixed and variable splits, etc.Yes
- Repayment Options
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Principal & InterestA loan in which both the principal and the interest are repaid over the term of the loan. Amortisation or amortising is another word for these loans that are gradually being paid off over a set period of time (the loan term). P&I can also be the abbreviation term for Principal & Interest.Yes
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Interest Only
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Additional RepaymentsMoney IN - Allows you to make additional repayments without penalty.Yes
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Direct DebitsMoney IN - A direct debit is an automatic payment that is set up to repay your home loan. You specify the frequency and repayment amount as well as the bank or transaction account that the repayment is to be drawn from and this payment will occur automatically on the set due date.Yes
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Salary CreditMoney IN - A manual payment to a loan account either via internet transfer or employee payroll transferYes
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Direct CreditsMoney IN - The ability for an external party to pay directly into a borrower's loan accountYes
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Deposit Card
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Bpay InMoney IN - The ability to pay your loan via a unique biller code from another financial institutionYes
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Capitalising of Interest
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Line of Credit
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- Loan Purpose
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PurchaseWhere you are buying a propertyYes
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RefinanceWhere you are looking to move your current loan from one lender to anotherYes
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Debt ConsolidationWhere you are looking to move multiple loans into one loanYes
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Construction
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Vacant Land
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Equity Release
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Business Purpose
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- Features
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100% Offset FacilityA non-interest earning account where 100% of the balance is offset against the home loan to reduce the total interest payable.
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Redraw FacilityMoney OUT - If you have made any lump sum or additional principal repayments to your loan account in excess of the standard repayment amount, you can access or draw back those extra repayments.Yes
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No Monthly Fees
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No Package Fee (excluding Stretch Feature)
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No Rate Lock Fee
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Stretch Package Feature
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Low Deposit Option
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Toggle Feature
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Relocation FeatureThe ability to purchase you next home prior to you selling your current propertyYes
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Repayment Sweep of Credit Card
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Internet AccessThe access via the internet to view & administer your home loan.Yes
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Phone Access
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ATM / EFTPOS Debit Card
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3rd Party Direct Debits
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Repayment RequiredEach repayment cycle (normally monthly) a repayment must be made, regardless if you have redraw available in the loan account.Yes
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Cheque Book
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LMI Premium Capitalisation
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3rd Party Protocol FriendlyMoney IN and Money OUT - A payment made to a loan account or an amount taken from a loan account either via internet transfer, employee payroll transfer or by an external party
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Loan SwitchingYou can switch you loans variable interest rate to a fixed interest rate (subject to the terms and conditions of your loan)Yes
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Up to 40 Year Loan Term
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Up to 30 Year Loan Term
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Up to 25 Year Loan Term
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SMSF Loans
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Deposit BondA deposit bond acts as a substitute for the cash deposit in between signing a contract and settlement and can be issued for all or part of the deposit amount required, up to 10% of the purchase price. At settlement, the purchaser is required to pay the full purchase price including the deposit.Yes
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NRAS Option
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Bpay OutMoney OUT - The ability to pay your loan via a unique biller code to another financial institutionYes
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No LMI Premium Payable By Borrower
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Mortgage Insurance not Required
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Loan PortabilityA feature that enables a home loan to be transferred from one property to another, without refinancing. It can be of benefit by savings on loan set-up fees and government loan security duty.Yes
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- Fees
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Monthly FeeNo monthly fee
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Package FeeNo package fee
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Rate Lock FeeNo rate lock fee
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Application FeeNo application fee
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Valuation FeeUp to $300 free^
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Settlement Fee$499
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Discharge Fee$500
^Mortgage House will pay up to $300 per property, any excess valuation fees are payable by the borrower(s) -
FAQ's
How much deposit do I need?
Generally speaking, a deposit of 20% of the value of the property will save you from incurring additional fees such as Lenders Mortgage Insurance. Some lenders will let you borrow up to 95% of the purchase price and then let you borrow the cost of the Lenders Mortgage Insurance on top of that. Alternatively, if you don’t have a deposit, you can borrow up to 100% of the property’s purchase price, in two ways:
- Family Pledge: which means that a family member offers their property as security for you to purchase your property.
- 100% House and Land packages: allow you to borrow up to 100% of the price of the brand new home and land.
I have been pre-approved – what does this mean?
This means that a quick check on your serviceability of a loan has been done and it is calculated that you should be able to make mortgage repayments on the amount you have been pre approved for. However, it is not binding and cannot be used to make an offer on a property. It is important to get a full or unconditional approval before proceeding with any property purchase. This involves completing a home loan application and providing all the necessary supporting documentation. (See our home loan application checklist)
What documents do I need to gather to apply for a loan?
You can view and print off your Loan Application Documentation Checklist here.
What is Lender’s Mortgage Insurance?
Lender’s Mortgage Insurance, as the name states, protects the Lender not you as the borrower. Lender’s Mortgage Insurance (LMI) is a once off fee that normally applies to loans where the customer is borrowing more than 80% of the purchase price. LMI is scaled depending on the percentage you need to borrow (between 80 – 100%) and the amount of the loan (ie, $650,000). LMI can start from $800 and range up to nearly 4% of the loan amount. You have two options to pay this fee.
- You can pay it upfront on settlement of the loan.
- Some lenders allow you to capitalise the cost of your LMI, meaning that they will add this figure to your loan amount. For example, if you are borrowing $650,000, your LMI may work out to be $7000. You would actually increase your loan amount to now borrow $657,000 ($650,000 + $7,000).
