Home Loans Articles

Save $50,000 on your home loan Here's how!

Interest rate rises hit home for people with variable rate mortgages, despite being cheaper than most fixed rate loans. When looking at home loans it is easy to be drawn in by promises of low interest rates without considering all the conditions of the loan.

Outright home ownership harder than ever

Home ownership might be further away than ever, with the proportion of Australians who own their homes outright dropping, according to recent findings by the Australian Bureau of Statistics (ABS).

Mortgage competition warms up in time for a merry Christmas

Be sure to shop around for home loans with lower fees and better features as the economy warms up in time for Christmas and lenders become eager to compete for market share. RateCity CEO Damian Smith says packaged deals are where you are likely to find the most competitive home loan offers in the months ahead

Mortgage talk made easy

Buying a new home is a trying time and the jargon bandied about by mortgage brokers, banks and real estate agents can add to the confusion. Whether you’re buying your first home or trading up or down, the process of finding the right home loan for your needs can be long and laborious.

To buy or not to buy Clearance rates skyrocket

Is now the time to ride the property market clearance wave or wait till the tide turns? A sales splurge has swept the Australian mortgage market, with hundreds of properties clearing out every week.

Do packaged loans really save a bundle?

Packaged home loans are very popular, especially when interest rates are rising. But be sure to crunch the numbers to see just how much of a discount you’ll enjoy. A package home loan may not always save a bundle.

Rate rise drives first home buyers out

The future for first home buyers remains uncertain, with more and more exiting the home loan market every month. And now as interest rates rise, and government grants are reduced, their triumphant return is more unlikely than ever.

Overextending ourselves to get our dream home

We would like to believe that lenders have our best interest at heart, but where money is involved, there is only one person who knows what’s best for you – you! Mortgage stress is an overwhelming concern for a number of Australians as they financially over-extend themselves to get their dream home.

Are coastal homes an affordable dream?

A fall in coastal property prices over the past year has created more opportunities for people thinking of a sea change. As people scrambled to snap up houses in metropolitan areas, competition on the coast has waned, but property research from RP Data suggests the tide will soon turn.

Watch your credit habits - Tougher lending on the way

New credit and privacy laws could make it harder and more expensive to get a home loan so get your credit habits in order now. A new national scheme for regulating credit is to be phased in between now and July 2011.

Home alone Can single income buyers afford a home?

Many young professionals on a single income have been pondering their chances of survival in the home buying game. But how affordable is it to step into the property market right now?

What is the real cost of buying a property?

What exactly do you have to pay for when purchasing a home? Number one fee to hit your back pocket of course is stamp duty, followed by more upfront fees.

Comparison home loan interest rates

The comparison rate will combine additional fees with the advertised interest rate and the create an average rate over the life of the loan. Comparison interest rates give you a more realistic interest rate and allow you to budget your expenses and repayments much more effectively.

Home Loan Applications

When you fill out a home loan application, you need to make sure all the details are not only filled out correctly but supply the lender with as much information as possible.

Super Saturday

Saturday, September 26, 2009 was named as Super Saturday because of the record number of properties that were auctioned and sold in Sydney, according to RP Data

Are you wasting $2,700 on home loan fees?

Interest may be the key expense of a mortgage but it pays to be mindful of ongoing fees that can significantly boost the overall cost of a loan. A review of more than 2,000 Australian home loans by RateCity has revealed that almost a third (29 percent) of loans come with ongoing fees, ranging from $3 per month to a hefty $35 each month.

Fixed last year? Switch now and pocket $720 a month

Many Australians can save $720 a month by switching from last year’s high fixed rates to a variable home loan. Australian mortgagees may be panicking in light of the interest rate rise announced on October 6. RateCity has shown that borrowers, who locked in to a high fixed rate last year, may now have a window of opportunity to save money on their home loans, if they switch to a variable rate now.

Future suffering First home owners to battle rising rates

Thousands of first time home buyers have cruised into the housing market this year. However, with interest rates set to rise, many home owners could be heading towards mortgage stress.