Home Loans Articles

Refinancing a mortgage to pay for renovations

Whether you’re planning to knock down some walls or touch up your bathroom or kitchen, you may need to borrow some money to pay for the material and labour costs. One of the options is to refinance your home loan and free up some cash to pay for the renovations. 

Do the big four banks control the Australian mortgage lending market?

Australia’s four biggest banks – ANZ, Commonwealth Bank, NAB and Westpac – hold more than 90 per cent of Australia’s mortgage market… but they aren’t the only game in town. Before choosing a home loan, it’s important to compare a variety of options and consider which mortgage deals may best suit your financial situation.

What is the difference between a full doc and a low-doc loan? | RateCity

Non-standard borrowers like those who are self-employed may not qualify for a traditional full doc home loan, but there are lenders who offer low-doc home loans that don’t require standard income documentation like payslips for approval.

What is the cash rate?

The official cash rate tends to influence financial products which could see you paying more, or less, on your loans. But what is it, why does it fluctuate and how could it affect you?

Why do lenders ask for payslips when you apply for a home loan? | RateCity

Lenders use your payslips to verify your income to make sure you earn enough before approving you for a mortgage loan.

Five important things to consider when buying a new home

Are you looking to build your dream home? If you are making the plunge into new home ownership it's important to track down the perfect home loan. Whether you’re looking for a new home to live in or invest in, you can find the lowest rates just by comparing online.

Two great reasons to fix your investment loan

Investment home loans have just as many options these days as owner-occupied home loans. This is perhaps because of the increased commonality for investment home loans as more Australians opt for property investment as opposed to other vehicles such as stock and shares.

Are you buying your first home?

Buying your first home can be one of life’s biggest and most exciting milestones. But it’s important to have an understanding of the basics of home loans before you decide on one that’s right for you.

When to consider a home equity loan instead of a mortgage

If you own a property and are considering purchasing a second, you may assume that you must save up a new deposit. However, you may want to consider how a home equity loan can help you achieve your goals.

How to find the best mortgage offers in Australia

The size of Australia’s mortgage market can have you feeling spoilt for choice. But what are some ways to narrow down your search and find the best mortgage offers for you?

How big is the home loan market in Australia?

One problem Australian home buyers don't face is a lack of home loan choices, in fact there is an overwhelming amount of competitive home loans in the Australian market today.

Five ways to pay off your home loan early

There’s a good chance your mortgage will be your biggest financial liability in life. So, it’s worth considering ways that could help you pay it off earlier to enjoy freedom from your mortgage sooner.

Does Australia have capped rate mortgages?

Search, compare and apply for some of the best value home loans on the market including capped rate mortgages. Capped rate mortgages protect borrowers from rising interest rates for a period of time.

Fixed vs variable rates: which is better, or can you have both?

Whether you are buying your first home, refinancing or purchasing an investment property, make sure you compare the best home loans on the market to see if home ownership is a good financial step for you.

How to beat debt by borrowing within your means

Like a rising current Aussie debt is skyrocketing with no relief in sight. Whether your credit weakness is owning a brand new home, having a wardrobe full of designer labels or a garage full of vintage cars, borrowing outside of your means is never advisable.

How Australia's mortgage market can benefit you

With a range of lenders offering hundreds of home loans in Australia, having a variety of options to compare greatly benefits home loan customers.

How long does a fixed home loan rate last?

Fixed loans are very popular items in the mortgage world, coming in and out of trend every year as interest rates change. But with future fluctuations being so unpredictable, how do we decide when to lock in a fixed loan for one or more years?

Should I pay off my mortgage early?

Paying off your mortgage early may not always be easy, but there may be benefits to consider, such as saving money on interest charges.