All In One Home Loans
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An All In One Home Loan is similar to an Offset Home Loan, the main difference being that the offset transaction account is not a separate account to the home loan account, but rather it is a single combined account. The All In One Home Loan account can simplify things because the borrower only has to deal with one account to find out how much is owed to the lender.
The All In One Home Loan allows deposits of salary, wages, and other savings that are deposited into the account to be offset against the balance of the loan amount, thereby reducing the balance, and in turn reducing the interest payable. So, simply the more surplus money or savings a borrower places into the account, the more the interest charges can be lowered.
For example, if a borrower had $20,000 in savings in the All In One Home Loan account and the loan balance was $330,000, then interest is only paid on $310,000.
So, the more surplus funds a borrower can place into the all in the All In One Home Loan account the less interest is effectively paid, which can amount to many thousands of dollars over the life of the loan. This also cuts years off the loan term, and you can end up owning the house that much sooner.
The longer the surplus funds can be left in the All In One Loan account, the greater the benefit. Surplus funds deposited can be withdrawn when needed.
The all in one home loan will normally have facilities linked to it, such as a cheque book, credit card and redraw.
An All in One Home Loan is an attractive option for those people that have:
>> a reasonable amount of surplus money available from each paycheck once expenses are paid,
>> or a reasonable amount of savings.
However, borrowers that can barely afford to make the monthly home loan repayment and don’t have much surplus funds available, probably wouldn’t find this type of loan to be suitable. They may be better served by going with a lower interest rate home loan product, such as the Basic Home Loan. It wouldn’t be much use to be paying a higher interest rate in order to have this type of loan, and not to derive much benefit from it.
Some Pros
-Less complicated as the offset and loan account are combined into one account.
-Reduce the amount of interest payable by offsetting surplus savings
-You may be able to pay off your mortgage sooner
-The interest you earn may be tax free
-Can withdraw equity from the home loan as needed
-Good flexibility
Some Cons
-Interest rate may be higher than basic variable home loan rate.
-Not much benefit to those borrowers that do not have much surplus funds.
The All In One Home Loan allows deposits of salary, wages, and other savings that are deposited into the account to be offset against the balance of the loan amount, thereby reducing the balance, and in turn reducing the interest payable. So, simply the more surplus money or savings a borrower places into the account, the more the interest charges can be lowered.
For example, if a borrower had $20,000 in savings in the All In One Home Loan account and the loan balance was $330,000, then interest is only paid on $310,000.
So, the more surplus funds a borrower can place into the all in the All In One Home Loan account the less interest is effectively paid, which can amount to many thousands of dollars over the life of the loan. This also cuts years off the loan term, and you can end up owning the house that much sooner.
The longer the surplus funds can be left in the All In One Loan account, the greater the benefit. Surplus funds deposited can be withdrawn when needed.
The all in one home loan will normally have facilities linked to it, such as a cheque book, credit card and redraw.
An All in One Home Loan is an attractive option for those people that have:
>> a reasonable amount of surplus money available from each paycheck once expenses are paid,
>> or a reasonable amount of savings.
However, borrowers that can barely afford to make the monthly home loan repayment and don’t have much surplus funds available, probably wouldn’t find this type of loan to be suitable. They may be better served by going with a lower interest rate home loan product, such as the Basic Home Loan. It wouldn’t be much use to be paying a higher interest rate in order to have this type of loan, and not to derive much benefit from it.
Some Pros
-Less complicated as the offset and loan account are combined into one account.
-Reduce the amount of interest payable by offsetting surplus savings
-You may be able to pay off your mortgage sooner
-The interest you earn may be tax free
-Can withdraw equity from the home loan as needed
-Good flexibility
Some Cons
-Interest rate may be higher than basic variable home loan rate.
-Not much benefit to those borrowers that do not have much surplus funds.
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- Eastern Suburbs
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- Sydney CBD
RESOURCES
I NEED A HOME LOAN
- Make an appointment
- Apply Now!
- Free mortgage check
-'Home loan symptoms'
- Loan pre-approval
- Home loan calculator
ARE YOU -
- A First time home buyer
- Need loan pre-approval
- Refinancing
- Buying your next home
- Investing in Property
- Using Equity in a home
- Self Employed
- Credit impaired
TYPES OF HOME LOANS
- Standard variable loans
- Basic variable loans
- Fixed interest loans
- Low Doc loans
- No Doc loans
- No deposit loans
- Credit impaired loans
- Investment loans
- Split rate loans
- Redraw
- Honeymoon loans
- Line of credit loans
- Debt consolidation loans
- Loan portability
- First home buyer loans
- All in one loans
- Line of credit loans
- Renovation loans
- Bridging loans
- Reverse mortgage loans
- Offset loans
- Construction loans
ABOUT US
- About us
- Why use us
- Privacy
- Terms of Use
CONTACT US
- Contact us
- Request an appointment
FAQ's
MY CREDIT RECORD
SITE MAP
WHERE WE OPERATE
- Sydney Upper North Shore
- Sydney Lower North Shore
- Sydney Northern Beaches
- Western Suburbs
- Sydney Hills District
- Eastern Suburbs
- Sydney Inner West
- Sydney CBD
RESOURCES
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Use of the information on this page and on this website is subject to the Terms of Use & Disclaimer which can be read by clicking here on Terms of Use and Disclaimer. Our Privacy Policy can be viewed by clicking here on Privacy Policy.
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