Before committing to a home loan, it's worth getting your facts straight. With such a variety of options available, comparing them might seem overwhelming. That's where a key fact sheet comes in, simplifying the process and helping you select the perfect home loan for your needs.
How to generate a home loan key facts sheet
You'll need to provide us with some information about the home loan to generate your home loan key fact sheet (KFS). Firstly, choose your preferred BCU Bank home loan from the drop-down list. Then, input some details such as the property value, desired loan amount, and loan term (which can be up to 30 years). Once you've done this, you'll get a detailed key fact sheet based on the info you provided to us.
Generating a home loan key fact sheet is especially handy when it comes to comparing home loans from BCU Bank with home loans from other financial institutions.
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Got a question about comparing home loans?
A home loan key fact sheet summarises the important information about a loan and is laid out in a consistent format, making is easier for you to compare loans from BCU Bank with other lenders.
It will provide you with the estimated cost of the loan, including:
- loan repayment per month
- loan repayment per year
- loan establishment fee
- the total amount to be paid back (including loan amount and fees), and
- the total you'll pay back per $1 borrowed.
All credit providers are required to make a key facts sheet available in a consistent format.
A loan's comparison rate is made up of the standard interest rate as well as any fees and charges associated with the loan. This helps you to know the true cost of a loan so you can compare loans accurately and make informed decisions when using comparison sites or considering different loan.
The fees and charges that apply to your home loan will be listed in your loan contract.
You may also incur a late payment fee if your home loan repayments are not paid by the monthly due date.
You can refer to our home loan fees and charges or contact us on 1300 228 228 for more information.
A fixed-rate loan means the interest rate and repayments on your loan don't change for the duration of the fixed-rate period (1 - 5 years).
The interest rate on a variable rate home loan can change based on a number of factors such as the reserve bank cash rate, which can move up or down as the market changes.
Important information
Banking and Credit products issued by Police & Nurses Limited (BCU Bank).
Any information on this website is general in nature and does not consider your personal needs, objectives or financial situation. Our rates are current as of today and can change at any time. Credit eligibility criteria, terms and conditions, fees and charges apply.
The results from this calculator should be used as an indication only. Figures provided are for illustrative purposes only and are based on the information provided. Results will vary depending on the applicant’s residential location. The calculations do not take into account any product features or fees and charges that may be charged to your loan or fees such as Lenders Mortgage Insurance, which if applicable will add to the cost of your loan and repayments. Results do not represent a quote or pre qualification for a loan. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.
Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. For variable Interest Only loans, comparison rates are based on an initial 3 year Interest Only period. For fixed Interest Only loans, comparison rates are based on an initial Interest Only period equal in length to the fixed period. During an Interest Only period, your Interest Only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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