Citibank Home Loan - Selling Points

Citibank has two policy niches:

1)

85% lending ratio without mortgage insurance up to $1m.  This potentially saves up to $14,000 in lenders mortgage insurance.

2)

Interest rate is determined by the security and not the purchase i.e. when drawing down equity from your owner occupied property to fund an investment purchase, owner occupied interest rate is charged.  The top 6 lenders, in contrast, charges 0.47% - 0.65% premium on standard variable investment loans.

The below are under the table rates obtained for our clients in recent weeks.  Such rates can fluctuate from week to week.  Use at own risk!

 

Owner Occupied <80% Lend & P+I                                                           

Basic Variable (No Offset)                Rate       Discount          Final Rate           

>$1m                                             4.31%        0.62%          3.69%          

                                                               

Std Variable (100% Offset)               Rate       Discount        Final Rate           

>$500k (P+I No Cashout)                 5.67%    1.89%            3.78%          

 

Investment <80% lend                                  

Std Variable (100% Offset)           Rate         Discount         Final Rate

>$500k (P+I No Cashout)             5.87%      1.79%            4.08%

>$500k (P+I With Cashout)          5.87%      1.59%              4.28%

>$500k (IO No Cashout)               5.92%     1.54%             4.38%

>$500k (IO With Cashout)            5.92%     1.49%              4.43%

 

RT 2/7/17

Posted in: Interest rates

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