Home Loans Articles

Who needs a low documentation home loan?

Low doc home loans are designed for self-employed Australians who may not be able to provide the documentation that’s required to apply for a typical home loan. While low doc home loans can help some Australians purchase property, they may also have risks to consider before applying.

Can comparing home loans save you money?

Whether you are a first-time buyer looking for a home loan, or looking to refinance your existing mortgage, you may find it easier to discover some of the best home loan offers for your circumstances by shopping around and comparing multiple deals.

Property Development Loans: How do they work? | RateCity

You can use a property development loan to finance the development of a block of land for residential or commercial purposes.

How do you borrow money to buy a home?

Unless you’re part of the lucky few, you’ll likely have to borrow money from a financial institution to fund a property purchase.

Deciding on a fixed rate home loan

When you’re comparing fixed rate home loans, working out the best options to suit your financial needs can be tricky. Learning more about how fixed rates work, as well as variable rates and split rates, may be able to help you make your decision. 

What is a variable rate home loan?

Before you decide whether a variable rate home loan is right for you, it’s important to understand what it is and how it works.

Is the official cash rate the same as a mortgage interest rate?

It’s important to understand the distinction between the official cash rate and the interest rate on a home loan, and how one affects the other.

Do mortgage brokers have fees?

Enlisting the help of a mortgage broker during your home buying journey can be advantageous in a number of ways. But will it leave you out of pocket?

The pitfalls of no deposit home loans

No deposit home loans are pretty much a thing of the past, though there are still a few ways for selected borrowers to get their foot on to the property ladder with little or no deposit. That said, it’s important to consider whether these options will be the best choices for you and your personal financial situation.

Four options to pay off your home loan sooner

Many mortgage holders want to save money on interest payments and slash years off their mortgage terms. Fortunately, there are many home loans offering flexible features that could help you to pay off your property faster.

How to plan for an interest rate rise

It’s very unlikely that you’ll be paying the same interest rate on your home loan over its full decades-long term. So how can you plan ahead to keep your household budget under control the next time rates rise?

What is an interest only home equity loan?

It’s possible to use any equity you’ve built up in your home to secure a loan or a line of credit to help pay for other household expenses. You may even be able to pay only the interest charged on these loans for a limited time, though you could risk paying more in total over the long run.

Are you buying to live in or rent out?

Are you buying a property to live in or to rent out? The purpose of your house purchase is vital to narrowing down your mortgage options when hunting for the most suitable home loan for your situation.

Do no deposit home loans still exist?

Saving up for a deposit is no easy feat. With property values through the roof, home buyers may be wondering if it’s still possible to get a no deposit home loan?

What happens to my mortgage if I file for bankruptcy?

You may have several questions in your mind while considering filing for bankruptcy, especially if you’re married. Understanding the legal and financial implications of this decision is important to ensure you take the most appropriate steps to manage your situation.

What’s the difference between a home appraisal, a market value estimate, and a property valuation?

In Australian property, terms like home appraisal, property valuation and market value estimate are often used interchangeably. But there’s a big difference between what a property is worth and how much it may sell for, which could make a big difference to your home loan.  

How to save for a home loan deposit

Saving a home loan deposit is the first step towards owning your own home and a major financial milestone. But in a competitive housing market, it can take a lot of sacrifice and determination to build up the deposit you need.

What happens when interest rates rise?

We watch with anticipation as interest rates rise and fall. The impact of which affects everyone who has a home loan, term deposit or other deposit accounts. Let’s have a brief look at how it affect each finance platform.