1 You can choose to pay Principal and Interest weekly, fortnightly, or monthly. Only monthly payments are available for Interest Only. The maximum Interest Only payment period over the life of a loan is 10 years for Investment Home Loans and 5 years for Owner Occupied Home Loans, so long as there is at least 5 years remaining on the Contracted Loan Term. We have different rates that apply, depending on whether you are making Interest Only payments or Principal and Interest repayments. During an Interest Only period, your Interest Only payments won't reduce your loan balance unless you choose to make additional repayments. At the end of an Interest Only period, your repayments will increase to cover Principal and Interest components.
2 The rates shown are interest rates for Principal and Interest repayments. For all our rates including interest rates for Interest Only payments view our Home Loan Interest Rates.
3 Only available for first home buyers in Australia where none of the applicants have previously owned or currently hold an interest in a property anywhere in Australia.
* Offer available on eligible home loans funded on and from 1 January 2020 (except for Owner Occupied Interest Only home loans, which are eligible if funded on and from 7 April 2020), where at least $250,000 has been refinanced from a financial institution other than Commonwealth Bank or Bankwest. Viridian lines of credit may be eligible as part of a multiple loan facility application if the total minimum refinance amount of $250,000 or more is met. Limit of one $2,000 cashback per borrowing entity (e.g. individual, joint borrowers, company) and per customer over a 12 month period. Limit of one $2,000 cashback per joint application. Where one of the joint applicants has received a cashback in the last 12 months, that customer will not qualify for the offer. Where all applicants have received a cashback in the past 12 months, the joint loan will not be eligible for the cashback. This offer cannot be combined with a Wealth Package fee waiver. Cashback will be credited to a Commonwealth Bank transaction account linked to the loan or the borrower/s within 90 days of loan funding (this could be a joint account with an unrelated party). We reserve the right to terminate the offer at any time. Applications subject to credit approval. Fees and charges may be payable. Full terms and conditions will be included in our loan offer.
As at 25 March 2022 Extra Home Loan reference rate for Owner Occupied home loans is 3.78% p.a. and the current Extra Home Loan reference rate for Investment home loans is 4.13% p.a.
Comparison rate calculated on a $150,000 secured loan over a 25-year term. WARNING: This 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.
Comparison rates for variable Interest Only loans are based on an initial 5-year Interest Only period. Comparison rates for fixed or guaranteed Interest Only loans are based on an initial Interest Only period equal in length to the fixed or guaranteed period.
Minimum $1,000 withdrawal with a $0 Redraw fee over the counter at any Commonwealth Bank branch and no minimum electronically with a $0 Redraw fee. Redraw and Repayment Holiday are dependent on having the required amount available in special repayments (extra repayments).
Excludes non-Commonwealth Bank ATMs here and overseas, transfer group payments to third parties, International Money Transfers and separate services such as bank cheques, periodic payments and transfers/deposits to other banks.
The target market for this product will be found within the product’s Target Market Determination, available here.
Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions are included in the Loan Offer. Fees and charges are payable.