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Low Interest Mortgages
A low interest mortgage is a type of home loan advertised that offers a low rate of interest. This type of mortgage is available to borrowers wanting to purchase a home for either investment or residential purposes. The main advantage of a low interest mortgage is that borrowers will have the opportunity to save money as they will be paying less in repayments due to a lower interest rate when compared to other types of mortgages available. Many lenders offer both variable and fixed low interest home loans so it to find one that suits your financial needs. It pays to compare online to find some of the lowest interest rate home loans on the market. Be aware however that some low interest mortgages are introductory loans that offer a discounted interest rate for a certain amount of time only at the beginning of the loan. After which time the interest rate will change, so make sure you are aware of the terms and conditions of your loan before signing any documentation.
The table below lists some of the lowest interest rate mortgages available.
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Monthly repayments are based on advertised rate, loan amount and selected payment frequency over 25 years.
The comparison rate is based on secured credit of $150,000 and a term of 25 years. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan.
Consider whether this general financial advice is right for your personal circumstances. You may need financial advice from a qualified adviser. Read our detailed disclosure here.
