Home Loans Articles

Do you need to be married to buy a house together?

The short answer to this question is… no. In Australia, as long as you and your spouse fulfil the mortgage lender’s eligibility criteria, you can buy a property and put both of your names on the title whether you’re married or in a de-facto relationship.

Discharge of mortgage: When and how to go about it?

There are certain situations when you may have to discharge your mortgage during the loan term, such as when you are selling your house or refinancing your mortgage. Learn how mortgage discharge works and what it will cost you.

How can I increase my borrowing power?

Are you wondering how to increase your home loan borrowing power? There are several methods you could use.

Is additional borrowing on a mortgage possible?

If you need to pay for a large expense, one of your options is to top up your mortgage. Find out how much you can borrow and how you can use the extra funds.

Should I apply for a mortgage through a bank or a broker?

You may consult a mortgage broker to find a suitable home loan, but if you have a bank account you can check if that bank offers a suitable mortgage too.

Why should I choose a joint mortgage?

You may be able to borrow more and face less risk through a joint mortgage, but you should have a clear arrangement with the person taking the loan with you.

How much equity do I need for a home loan?

Buying your first home involves paying a deposit on the property. Saving up this deposit can be a challenge, but once you have a mortgage, you can start building up equity in the property. This equity could eventually be used to refinance your home loan, access a line or credit, or even to take out a mortgage on a second property. So how much equity would you need to start building your property portfolio?

How much does a laundry renovation cost?

A laundry renovation may cost you anywhere from $5,000 to $25,000 and beyond. Let's explore the biggest factors impacting cost and how you can finance your dream laundry renovation.

The hidden costs of buying a home

Most first homebuyers know that the two main costs of their first mortgage are the upfront cost of the deposit on the property, and the ongoing expense of mortgage repayments. But what other costs will you need to budget for when you apply for your first home loan?

How to choose the right home loan

Need help choosing the right home loan in Australia? Find the lowest interest rates and features for your personal home lending needs by comparing mortgages at RateCity.com.au.

How to find (and pay for) your first mortgage by yourself

Where do you start looking for your first mortgage? Many budding first homebuyers go straight to their current bank to see if they can get a loan. This may be one of the simplest options, but it may not be the most affordable choice or the best option to suit your financial situation.

How Today Show's Pay Your Mortgage Competition could affect your loan

We’ve all daydreamed of winning the lottery, but what about winning a competition that could pay your mortgage for a year? If you're not a winner of the Today Show's Pay Your Mortgage competition, there is still a way you might win by refinancing.

How does a mortgage repayment calculator work?

Mortgage repayment calculators are great tools for working out exactly how much your home loan may cost you. This can not only help you plan your household budget, but allow you to estimate the total cost of interest charges and the overall value of your home loan. 

Interest only home loan repayments

Do you need to find a home loan that can make your dream home a reality? Finding a home loan that suits your needs is the first step towards home ownership and shouldn't be taken lightly. Equally, it's important to understand how you intend to manage your mortgage interest repayments.

What is an interest-only home loan?

Interest-only home loans are a type of mortgage where the borrower only has to pay the interest charged on the principal balance. Because they are only required to pay interest, the monthly repayments are lower. This leaves borrowers with more money available in their monthly household budgets for use elsewhere.

Can I take out a loan against my home’s equity?

You can use the equity in your home as a deposit for taking out another loan. But lenders may require a home valuation before reviewing your loan application.

Advantages & Disadvantages of Paying off your Mortgage Australia

Paying off your mortgage early can have several advantages. It enables you to own your home sooner by getting rid of your debt and saves money on interest charges. But is it the best option for you when it comes to wealth creation?

Are home loans available to Aussie expats?

Australian expats can usually apply for the same home loans as Aussie residents, but consider checking lenders’ specific qualifying criteria and loan terms.