ING Direct Fixed 5 Year

The ING Direct 5-Year Fixed Rate Home Loan give borrowers the opportunity to control how much they pay on their loan payments by regulating the interest rates for a specific period. In the case of this loan, there is a maximum five-year fixed rate term. While interest rates rise and fall periodically, they will not change your payment with the fixed rate mortgage. When the term ends, the loan turns into the Mortgage Simplifier, a basic variable rate home loan offered by ING Direct.

The fixed rate home loan offers incentives no matter the borrower circumstances. It does not matter whether you are a first home buyer, a current owner, or you are looking to invest you can benefits from interest rate security at the beginning of the loan.

KEY BENEFITS

Look below to learn more about the key benefits included with the ING Direct 5-Year Fixed Rate Home Loan:

Additional Payments

You can make additional payments beyond the required amount as long as you do not go above $10,000 each year.

Redraw Option

Once the fixed term ends, you have the option of using a redraw facility to get extra cash from your mortgage account to use for other purposes.

Interest Only

This is usually a limited time period where you can make payments on the total interest owed without paying any principal.

Fees

There are no ongoing fees including the monthly, yearly, and transaction fees.