Home Loans Articles

Try before you buy home loans

Try before you buy home loans? Surely not! That's right folks there actually are Australian home loans that allow you to rent the property you are interested in buying, before you actually sign the dotted line.

Should property investors keep away from mortgage season?

Historically, spring is the busiest time for first home buyers with a rise in the number of applications for home loans, but is this the best time for investors to jump on the bandwagon? With rental prices on the rise it is a good time for investors to take advantage of the current market conditions.

Why you might want to consider a split home loan

In two minds about your home loan rate? Most Australian's like having options but when making a decision on something as important as a home loan we can feel awfully pressured to make the right decision. Perhaps a split home loan may be just the option for home loan borrowers, and fence-sitters alike.

Warning to first home buyers Beware of appealing home loans!

Financial institutions have regained confidence in borrowers, with lenders offering loans with very high loan-to-value ratios for the first time since the global financial crisis. As well as this loan, Mortgage House also has a 99 percent LVR mortgage that they launched in August. Westpac has also raised its LVR for new customers on some of its home loans by 5 percent to 92 percent.

Save $300 a month by switching mortgages

Moving your home loan from one lender to another isn't always as easy as one, two, three. There could be costs involved, decisions to make and sometimes the whole process can end up costing you more. But with some careful planning and by doing some research, switching lenders can be worthwhile.

Get the best of both worlds and split your mortgage

There are rumours that the cash rate could increase towards the end of the year or early next year. If these rumours turn out to be true, the decision on whether borrowers should fix or not could be a little easier, that is if you choose to split your loan.

Be prepared for interest rate rises

Sometimes the dream of owning a new home can override our basic common sense when applying for a home loan. Taking out a home loan with repayments that are just within your budget doesn’t allow you much room for interest rate rises and this is where Aussie borrowers get in trouble.

Borrowers warned to watch their mortgage rates

Last week, while the nation absorbed the news that Labor will remain in government, the Reserve Bank of Australia (RBA) announced that the official cash rate would remain unchanged at 4.5 percent for the fourth consecutive month. However while this news is good for borrowers, mortgage holders, particularly first home buyers should be cautious of lenders increasing interest rates for home loans.

Sold! How to prepare for buying a home at auction

Buying a home at auction can not only be an exhilarating experience but it can also be a great way to nab yourself a property at a great price. Unlike other ways of buying property, buying at auction can offer other benefits, such as greater buying opportunities, an immediate result, a prepared mortgage, and unlike private sales you always know what the offers are.

Try before you buy your dream home

Trying before you buy a home, with an extended period to rent gives you the added bonus of having extra time to get your finances sorted in time for a home loan. If you decide that this option is for you or if you want to purchase property the old-fashioned way and are in the market for a mortgage, compare home loans online before making any decisions.

First home buyers could benefit from a home loan package

If you are a first home buyer, considering one of the major lenders through to the smaller brands is one of the toughest choices you will make when choosing a home loan. So why do so many Australians shop with one of the major banks, namely ANZ, Commonwealth Bank, NAB and Westpac?

Protect yourself from dodgy property cover ups

Some people will do almost anything they can to cover up major problems, especially if money comes into the equation. Take buying a house, for example. We have all heard of cases where the seller has covered up an issue for the purpose of selling their house at a higher price.

Home loans ranked 'poor' when it comes to switching

Do you have a mortgage but want to ensure you have the best deal available? One way to achieve this is by switching loans to receive a better rate. But how is this even possible if some financial institutions make it so hard to make the change?

Why it's important to have insurance if you have a mortgage

How would you pay off your mortgage and other debts if something terrible happened to the main breadwinner in your household? It's important to have insurance if you have a mortgage. As most of us don't have a bundle of money tucked away or tied up in investments, how would you or your beneficiaries cope with paying off a home loan?

What's your plan of attack for mortgage season?

Spring time; it's not only birds that start to fluff their nests, but it also marks the start of mortgage season. As winter comes to an end, history proves that spring is the time when borrowers take out more home loans to purchase and build properties. So if you're in the market for a home, make sure you're prepared for the busy mortgage season ahead

Oh baby! Why you should plan ahead for your home loan

Are you in the market for a home loan? RateCity investigates how having kids can affect mortgage applications in the US and if this could affect you. According to an article in The New York Times mortgage lenders in the US are getting tougher on prospective borrowers planning to expand their brood by further tightening mortgage lending criteria.

Window of opportunity save $1200 over three years on your home loan

RateCity shows you an opportunity that could save you money by fixing your mortgage within a few years. New research by RateCity found that the average three-year fixed rate home loans from more than 100 lenders has decreased by 0.14 percent since June to 7.64 percent

Buying your first home? Prepare to pay $15,000 before moving in

RateCity investigates the real cost of buying a home. Aside from saving for the deposit (which is generally 5 to 10 percent of the purchase price), you will need to outlay additional money for costs before you even buy the house, during the home loan process and then once you have purchased the property, including