Home Loans Articles

Home loan package deals

Similar to bundling your home telephone, mobile, and pay TV with one company, bundling your finances could save you money off your home loan. This could be appealing if you are a first home buyer looking for a reduced home loan rate and an easier way to manage your finances.

Break fees still apply for fixed home loans

In July 2011 home loan exit fees were abolished, except for any home loans that were signed prior to this date. But this only applies to variable home loans. If you have a fixed home loan there are still large fees that apply, called break fees.

Self Employed? Consider a low doc home loan.

Low doc loans are a type of home loan offered by financial lenders that are targeted at the self-employed and business owners who do not have all of the paperwork required to apply for full doc home loans.

Should you have life insurance?

Like most things in life, we don't realise how important or how much we need something until it's too late. Life insurance isn't high on the list of proprieties when you are younger but it should be as soon as you make your first big purchase, like taking out a home loan.

What inspections do you need when buying a home?

Buying a home can be a tricky and costly process, one which could end up costing you money before you even make an offer on a home. Once you have your home loan sorted and have few a properties in mind you can start carrying out the inspections.

Should I Fix My Home Loan | RateCity

Applying for a home loan requires making many decisions. The option to fix your interest rate or not is one that many people struggle with. There are positives and negatives for both but with a little bit of research you can make an educated decision that will suit your personal requirements.

How to pay less on your mortgage no matter when you started

Whether you're in your first year of a mortgage, you took out a home loan before the global financial crisis or you've had your variable rate for five years, there are ways to ensure you are getting the best deal and save yourself money

Major four banks standard variable rate highest since late 2008

Standard variable rates from the major four banks are the highest they been in two years. Meanwhile the gap between them is also increasing - does this mean more competition in the market? According to RateCity, interest rates from the major four banks have increased to levels not seen since the start of the global financial crisis in 2008.

Don't be a victim of rising home loan rates

As a result of the recent interest rate increases many households are struggling to meet their home loan repayments, but is it possible to ease the burden and still get ahead?

5 percent deposit - don't get sucked in

First home buyers entering the property market are being warned of advertisements for home loans with high loan-to-value ratios (LVR) because they may not be as enticing as they sound. According to RateCity more than half (51 percent) of home loans currently monitored on its website offer 95 percent loan-to-value ratios (LVR).

Mortgage applications drop further

More and more Australians are putting off applying for home loans, especially in Queensland. But despite recent rate increases if you are in the market for a home loan your dream may still be possible.

Will lenders recoup lost exit fees by hiking up other mortgage costs?

Mortgage lenders charging excessive early exit fees have been advised to change their ways thanks to new guidance set by ASIC. But will other costs for mortgages increase as a consequence?

Mortgage lenders that reward you for your loyalty

Some smaller lenders are rewarding loyal borrowers by offering substantial discounts on their home loans after a period of time, but while these may seem attractive are you really better off?

The seesaw of fixed and variable home loans

While rates for some variable home loans have increased and fixed mortgage rates dropped, will borrowers be better off fixing their home loans right now? Out of more than 100 lenders monitored by RateCity, 66 have increased their variable home loan rates by as much as 45 basis points from November 1 to November 22.

Are you considering investing in property?

Property investment is an extremely attractive investment type for Australians who love the idea of owning property on this great land of ours. While it can be a great investment it does require a lot of research and shopping around for the right home loans before you can see your dream come to fruition.

Home loan terms: loan-to-value ratio

Understanding home loan terms for those who are new to the Australian property market can be like learning the alphabet again. Make yourself familiar with the terms and purchasing a property will become that little bit easier. Let's kick it off with loan-to-value ratios.

Do fixed rate home loans help you save?

If some people can save more by fixing their home loan rate, how do you know when it is the right time to fix? Knowing whether to fix or not is the question on most home buyers minds, but this decision all depends on the market and timing.

To build or not to build? That is the question

Are you in the market for a new home? RateCity helps you decide between building a new house or purchasing an existing home.