8/7/2023 0 Comments Loan refinance calculatorIf the buyer believes interest rates will fall or plans on moving in a few years then points are a less compelling option. In general discount points are a better value if the borrower intends to live in the home for an extended period of time & they expect interest rates to rise. In some cases a borrower may want to pay points to lower the effective interest rate. Interest Rate: this is the quoted APR a bank charges the borrower. If the loan amount is above 80% of the appraisal then PMI is required until the loan is paid off enough to where the Loan-to-value (LTV) is below 80%. Loan Amount: the amount a borrower is borrowing against the home. This is used in part to determine if property mortgage insurance (PMI) is needed. or its subsidiaries.Home Value: the appraised value of a home. Fitbit Pay™ is a trademark of Fitbit Inc. Samsung Pay is a trademark or registered trademark of Samsung Electronics Co., Ltd. Target Market Determinations, available hereĪpple Pay is a trademark of Apple Inc., registered in the U.S. You should consider the relevant Terms and Conditions or Product Disclosure Statement before deciding whether to acquire any of the products shown on this website. Lending criteria, terms and conditions, fees and charges apply to IMB loan products. Before you act on this advice you should consider the appropriateness of this advice in regard to your objectives, financial situation and needs. The advice on this website has been prepared without taking account of your objectives, financial situation or needs. © IMB Ltd trading as IMB Bank | ABN 92 087 651 974 | AFSL 237 391 | Australian Credit Licence 237 391 Target Market Determinations available here. Please consider the PDS available from IMB before making a decision about IMB deposit products. 100% Offset facility is available on the IMB Everyday and IMB Everyday Unlimited Accounts. Different terms, fees or other loan amounts might result in a different comparison rate.Ĥ. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. This comparison rate is based on a $150,000 secured home loan over 25 years. Also refer to the general information above.ģ. All fixed rate loans convert to a variable interest rate with a discount off the standard variable rate at the end of the fixed rate term. Different interest rates apply to other fixed rate terms. Fixed interest rates are indicative and they may vary on settlement. Also refer to the general information above.Ģ. They are for new applications only and they are not available for refinance of existing IMB loans. The discount margin will be the discount available at the time a loan contract is issued and may be different to the current discount in the interest rates shown. Variable rate loans have a discount off the standard variable rate. Target Market Determinations available here.ġ. You should consider the relevant Terms and Conditions or Product Disclosure Statement (PDS) before deciding whether to acquire any IMB products or facilities. Split loan options not available in online applications. Eligibility criteria must be met to apply online. Lending criteria, terms and conditions, fees and charges apply. Information current as at date of appearance and subject to change.
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