Home Loans

Are you looking for a Home Loan?

So you have made the decision to buy a home, this is the first step in owning your own piece of Australia.

When shopping for a home loan its important to find the type of loan that is right for you, their are many options available and not all loans are right for your needs.

The various types of Home Loans on offer in Australia include:

• Standard Variable Rate Home Loan - This is the most commonly applied for and used loan in Australia, this loan type is directly based on the Reserve Bank Of Australia. The variable rate home loan is designed to fluctuate with the market, this means at any month, year or quarter your interest rate and interest payments could rise or fall based on the Reserve banks decisions.

• The Basic Variable Rate Home Loan - If your not shopping for features and gymics but are looking for the best low interest rate then this is the type of loan for you. The Basic Variable rate offers (normally) a lower interest rate than the Standard Variable Rate.

• The Fixed Interest Rate Home Loan - This type of Home Loan is great if you like stability in your investments, Fixed Interest means you pay the same rate over a specific period of your loan. The benefits of this are if you have a set income and cant afford for interest rates to rise then this loan provides that security. The down side is if interest rates do drop you are committed to the agreed rate you signed to. If you want to then change your loan you will incur a pentaly.