ASB Bank is one of the largest banks in New Zealand, and it offers a wide range of mortgage products to suit a variety of needs.
Whether you’re a first home buyer, looking to refinance your existing mortgage, or invest in a property, ASB Bank may have a mortgage for you.
In this article, we’ll take a look at ASB Bank’s current mortgage rates, as well as some of the factors that can affect your interest rate.
What are ASB Bank’s current mortgage rates?
ASB Bank’s current mortgage rates vary depending on the type of mortgage you’re applying for, the term of the mortgage, and your individual circumstances.
However, here is a summary of some of their most popular mortgage rates:
- Fixed rate mortgages: ASB Bank’s current fixed rate mortgage rates start at 7.45% p.a. for a 6-month fixed rate loan.
- Floating rate mortgages: ASB Bank’s current floating rate mortgage rate is 8.64% p.a.
- Low equity mortgages: ASB Bank’s current low equity mortgage rate is 7.95% p.a.
What factors can affect my mortgage rate?
A number of factors can affect your mortgage rate, including:
- Your credit score: The higher your credit score, the lower your interest rate will likely be.
- The amount of money you’re borrowing: The more money you borrow, the higher your interest rate will likely be.
- The term of the mortgage: The longer the term of the mortgage, the higher your interest rate will likely be.
- The type of mortgage: Some types of mortgages, such as low equity mortgages, have higher interest rates than others.
- Your loan-to-value ratio (LVR): Your LVR is the amount of money you’re borrowing compared to the value of the property you’re buying. A lower LVR will likely result in a lower interest rate.
ASB Bank offers a wide range of mortgage products with competitive interest rates. However, it’s important to shop around and compare rates from different lenders before you apply for a mortgage.
You should also get pre-approved for a mortgage and make a large down payment to get the best possible interest rate.