Yes, there are fees associated with Commbank Mortgages. Some of the common fees include:
- Application fee: This is a one-time fee charged when you apply for a home loan. The amount of the fee may vary depending on the type of loan and the amount you are borrowing.
- Valuation fee: This is a fee charged to cover the cost of valuing the property you are buying. The fee may vary depending on the type of property and the location.
- Legal fee: This is a fee charged to cover the cost of legal work involved in preparing the loan documents and finalizing the mortgage. The fee may vary depending on the complexity of the legal work involved.
- Lenders mortgage insurance (LMI): This is an insurance policy that is required when you borrow more than 80% of the property value. The cost of LMI varies depending on the loan amount and the property value.
- Ongoing fees: Commbank Mortgages may charge ongoing fees to cover the cost of maintaining your home loan. These fees may include an annual package fee, a monthly account-keeping fee, or other charges.
It’s important to carefully review the fees and charges associated with any home loan product before you apply. This will help you understand the total cost of the loan and ensure that you are able to afford the repayments
