Home Loans Articles

Will your bank lend you money for a mortgage? Home loan lending criteria explained

Home loan eligibility criteria differs from lender to lender and is used to help determine whether you are financially capable of servicing a home loan in Australia.

Can you finance two cars on one loan? | RateCity

If you’re planning to buy two cars and need to finance your purchases, you may be wondering if you can buy two cars with one loan?

Do you need good credit for a home equity loan?

A home equity loan could be a useful option for accessing money when you’ve previously paid extra onto your mortgage or the value of your home has grown. But could you run into trouble if your credit score isn’t the best? 

What’s the difference between interest only vs principal and interest on home loans?

If you’re in the market for a new home loan or refinancing an existing mortgage, it’s important to understand how you intend to manage your repayments.

What is an introductory rate home loan?

When you're comparing home loans, the ones with the lowest rates always jump out first. This is because banks usually offer a discounted rate for an introductory period to lure in the new customers.

What are interest-only repayments?

Opting for interest-only home loan repayments can be a useful strategy in some circumstances, but it’s important to understand how they work and whether they may be right for you.

What is a rate rise and how often does it happen?

Over a 25–30-year mortgage it is safe to expect your rate to fluctuate. So, what causes interest rates to rise, and how often can this occur?

What are residential home loans?

There are two main reasons to purchase property; to live in the home as your primary place of residence or to rent it out as an investor. A residential home loan refers to the former of these mortgage purposes.

How to apply for a fixed home loan

If you’ve decided that a fixed rate home loan is the right choice for you, the next step is to get started on your application.

What are green home loans?

Just like standard home loans, green home loans allow you to borrow money to buy a property. But they also aim to reward borrowers for choosing to live more sustainably.

Mortgage redraw vs personal loan

Australians wanting to access finance to pay for personal projects may have several options available to them. Australians who are also home owners may have extra choices to consider, such as deciding between applying for a personal loan or using the redraw facility from their mortgage.

What type of home loan fees can you expect to pay?

There’s more to a home loan than the interest rate you may be offered. It’s crucial that homeowners understand the types of fees you may be charged and when, and how to compare your options.

A guide to mortgage statements for your home loan

Find out what is a mortgage statement and the information it contains.

Are fixed rate mortgages right for you?

When choosing a home loan, one of the biggest decisions you’ll make is whether to fix your interest rate. To help you decide if it’s the right choice for you, there are a number of factors to consider.

What is a standard variable rate?

When you’re looking for a home loan, it’s important to understand the different types of interest rates that lenders offer. One that you might hear referred to often is a standard variable rate.

What should I do if I have problems repaying my mortgage?

If you need help repaying your mortgage, you may want to talk to your lender about their hardship options and check if you can defer or reduce your repayments.

What type of lenders offer home loans in Australia

It’s a jungle out there with the banks and non-bank lenders competing hard for your home loan business. The trouble is choice can create confusion for some, but the reality is that the banks and non-bank lenders provide perfectly viable loan products. The challenge is to shop around for the right home lender, which provides the best mortgage for your circumstances.

How to search for a low-rate home loan online

If you're in the market for low rate home loans then you've come to the right place, because at RateCity you can compare thousands of mortgage products online to help you select an option that suits your needs. So put your feet up, pull out your laptop and start comparing.