Home Loan Quote
In April 2009 ABS data reported that Australian’s had taken out 60,395 home loans with a median loan amount of $265,000. In tough economic conditions it pays to compare the lowest mortgage rates on the market to bridge the gap between savings and spending.
Whilst brand loyalty may still be a contributing factor to the decision making process don’t forget about the non-banks, such as credit unions and building societies which continue to offer competitive rates.
When getting a quote on how much you can borrow check to see if you are allowed to make additional lump sum repayments without penalties. Having the option to pay weekly, fortnightly or monthly can aid in the total interest you will need to pay over the life of your loan, so consider all features of a mortgage product to make sure it’s the right one for you.
Related Link: Compare Home Loans