A home loan is a big step, which is why you want to make sure that it’s the right one for you before you sign.
So take some time to explore the rates in the market and think about what types of home loans would best suit you.
- A Variable home loan is the standard loan, usually with features such as flexible additional repayments and options to split.
- If you expect interest rates to rise, you can apply for a Fixed home loan, so that your rate for the first few years remains unchanged.
- For the self employed, and anyone who may have difficulty sourcing detailed financial histories, a No-Doc home loan may be best.
- An Interest Only Home Loan allows borrowers to only pay interest on the loan for a few years, which is ideal for investors who are looking to sell the home in the future.