Home Loans Articles

Home loan myth Do you get a better rate for being loyal?

So you've had your savings account with the same financial institution since your primary school days and now you're in your late twenties and in the market for a home loan. Because you've been with the same bank for all of these years, does this mean that they will offer you a better deal for being loyal?

Why risk it? Don't fib on your mortgage application

According to a study by Veda Advantage, 1.6 million Australians have lied about their financial information when applying for a loan. Not only is this a shocking number of people being dishonest but the nightmare that this behaviour can be very damaging to the applicants and their families.

Is everything negotiable when it comes to home loans?

More customers are using their powers of persuasion for a better deal on their home loans, but is it really paying off? According to a survey by Choice, out of 2170 people surveyed, one-third of customers with home loans asked their financial institution for reduced rates and to their surprise most of them got what they asked for.

Low doc home loan rates lower than before GFC

New research from RateCity shows that despite a decrease in the number of low-doc loans available, the number of applications is on the rise. Before the GFC hit our shores there was an abundance of low-doc home loans available, however the effects of the GFC saw the numbers decline dramatically.

How to purchase your dream home in 12 months

If you are a first home buyer who has a goal of buying your dream property next mortgage season, here are some points on what you should do now to better prepare yourself.

Economy strengthens but buyer confidence flattens

Buyer confidence levels for purchasing property have flattened over the past year but they are still higher than 2008 levels. According to the September 2010 Genworth Homebuyer Confidence Index, our confidence in the home loan and property market has increased by 7.7 percentage points, from 92.4 in 2008 to 99.1 in 2010.

Tougher outlook for first home buyers

First home buyers are finding it tougher to enter the property market than last year, with some first home buyers pushed out altogether due to higher costs. But by taking the right turns and keeping to the map, the road ahead doesn't need to be as rough.

How to avoid mistakes first home buyers make

Many first home buyers are given advice from all directions on what to do, what not to do and which lender to use. But because everyone is different, what suits one may not suit another, especially when it comes to finding the right home loan.

Beat the major four banks by comparing home loans online

As the anticipation of a predicted rate rise before the end of the year draws nearer, experts worry there is a lack of competition in the mortgage lending market and borrowers aren't getting the best deals on their home loans.

Is it the right time to refinance your home loan?

Borrowers consider refinancing home loans for a number of reasons but how do you know when it's the right time to refinance?

Does your home loan need reviewing?

The Australian property market has an abundance of home loan lenders vying for your business. While narrowing down the right home loan does take a bit of leg work it pays not to settle for your current home loan and instead shop around to make sure you are still getting the best deal.

Aussies demand a better deal on home loans!

Homebuyers, especially those looking to refinance their existing home loans have taken advantage of an opportunity to make the most of stable interest rates

How borrowers can beat the imminent rate rise

If you have a home loan or considering taking out one, there are steps that home owners can implement now that will not only help them take advantage of the current stable rates, but also prepare them for any rate increases before the year is out.

Should you refinance your home loan?

Life has a way of getting in the way of the best laid plans. Circumstances change, finances fluctuate and extra expenses come along when we least expect them. Is refinancing an option you should consider when circumstances change?

Refinancing at the right time can save you $63,000

Refinancing your mortgage can be a great option for those whose circumstances may have changed since applying for the loan, such as welcoming another member to your family or a decrease in your salary. Other reasons why someone may refinance their home loan can include

Five steps to owning your own home sooner

In order to buy the home of your dreams this mortgage season, you need the right mortgage. RateCity has compiled five ways to help you choose the best home loan to suit your lifestyle. Compare intro loans to variable loans. Intro rate home loans are generally targeted at first home buyers because of their lower interest rates for usually the first 12 months

Finding the best home loan for you

Your home is a direct result of your home loan so it's imperative to place as much importance on finding a loan that fits your budget and lifestyle, as it is to find your ideal home.

Getting ready for a rate rise

If and when the Reserve Bank of Australia (RBA) announces that the official cash rate will increase, there are a number of strategies that borrowers can implement to prepare for a rate rise. In order to better prepare for a rate rise, we've prepared a few suggestions for Australian borrowers.