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Are you buying to live in or rent out?

Are you buying to live in or rent out?

Are you buying a property to live in or to rent out? By asking yourself this question you can narrow down which home loan is right for you. There isn’t a one-size-fits-all home loan so the purpose of your house purchase is vital to narrowing down the most suitable home loan. 

Owner-occupied home loand are a type of mortgage that borrowers will consider when they want to live in the home they purchase. The other type of mortgage available is an investment home loan which is available if the borrower wants to use the property for investment reasons such as to rent out.

If you are in the market for an owner-occupied mortgage, there are a range of both fixed rate or variable rate home loans to choose from.

Moving into a new home is exciting but can also be stressful if you aren’t organised. Don’t let your home loan be another added stress. Do the ground work now to find the best home loan that meets your individual requirements. Get off the ground running with RateCity’s home loan comparison tool and mortgage repayment calculator.

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