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A rural home loan with features to suit various needs

Looking for a larger rural residential block? Live your dream with our Lifestyle Home Loan, offering both fixed and variable rate options.

This loan is designed for Owner Occupiers or Investors looking to purchase a rural property up to 40 hectares.

100% offset facility

Helps to save you money and pay off your loan sooner.

No ongoing fees

No ongoing monthly loan fees 1

Pay off your loan sooner

Additional repayment options without penalty 2

  • 100% offset facility
  • Fixed and Variable interest rate option loans
  • No ongoing monthly loan fees 1
  • Additional repayment options without penalty 2
  • Redraw available online or via app without fees 3
  • Available to individuals, companies and trusts
  • Minimum loan amount $50,000
  • Max. loan amount up to 80% of the property value #
  • Loan period up to 30 years
  • Interest only option available ^
  • Flexible repayment options available weekly, fortnightly or monthly
Interest type Interest Rate + Comparison Rate *
Variable Rate 8.48% p.a + 8.53% p.a*
Fixed Rate 2 years < 7.09% p.a + 8.23% p.a*
Fixed Rate 3 years < 7.29% p.a + 8.17% p.a*

Rates effective from 27/05/2024.

Credit eligibility criteria, terms and conditions, fees and charges apply. The Capricornian Ltd. ABN 54 087 650 940. AFSL/Australian Credit Licence 246780.

*This comparison rate is based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

1 Application fees apply.

2 Additional repayments up to $10,000 without penalty in any twelve (12) month period. Applicable to fixed rate loans only.

3 In branch staff assisted redraw fee of $30 applies. Redraw is not available on fixed rate loan options.

# Loan to valuation ratio (LVR) may vary dependent on the size and location of the property.

^ An increase margin of 0.50% will apply to interest only variable and fixed rate loans. Lenders Mortgage Insurance (LMI) is required for Interest Only loans where the loan is greater than 78% of the value of the security property.

< At conclusion of the fixed rate period, the loan converts to the Lifestyle Home Loan Variable Rate applicable to the loan amount at funding.

+ Lenders Mortgage Insurance (LMI) is required where the loan is greater than 80% of the value of the security property. This may vary based on the size and location of the property.

An interest rate margin my apply based on the size and location of the security property.

Consider the relevant Target Market Determination (TMD).

To be eligible you will need to be:

  • At least 18 years old
  • An Australian citizen or permanent resident

If you are seeking formal approval, whether applying online or in person you will need:

  • Two forms of ID
  • Three payslips (or other proof of income if you’re casual or self-employed)
  • Evidence of what you own (assets)
  • Evidence of what you owe (liabilities)
  • Contract of sale

Following the assessment process, further information and documentation may be required.

Bring these items when you come to see us

Work out what repayments you may be able to afford by using a borrowing calculator. We use a range of criteria to decide how much you are eligible to borrow, but you also need to be comfortable that you can afford to pay the loan. We aim to help you achieve your goals without living above your means.

There are several factors that go into determining which home loan and interest rate is best for you. A variable interest rate will change along with the market. A fixed rate will lock in your repayments for a set period of time. There are benefits to both of these options, and we recommend that you obtain financial advice when contemplating this decision. See this link to our blog for more information.

1. LVR: Loan to Value Ratio

LVR is the percentage of the property’s value, as assessed by the lender, that your loan equates to. For example, if the property you want to purchase is valued at $500,000, and you need to borrow $400,000 to pay for it, the loan is worth 80% of the property value, making your LVR 80%.

2. LMI: Lenders Mortgage Insurance

LMI is insurance that protects the bank or lender in case you can’t pay your residential mortgage. It’s usually paid by borrowers with an LVR higher than 80% – that is, borrowers with a deposit of less than 20%.

Chat with a local lending specialist

Tips to get in the know

Abbi & Luke – Rockhampton

We had heard of the awesome service that the staff at The Capricornian offer to their members. They made a simple list for us on what to bring to our appointment, which made the process and the application paperwork really easy.

Abbi & Luke – Rockhampton