Compare and save: home loans

RateCity StaffJan 3, 2010( 1 min read )

Home Loans

Five home loans to let you borrow more in July 2020

Many people manage to secure a home loan with a deposit of less than 20 per cent, and that all comes down to what the lender allows.

Jun 30, 2020( 2 min read )

Home Loans

Five reasons to refinance this financial year

With the next financial year right around the corner, if you’re looking for a way to cut down on your biggest bill, you may want to consider refinancing your home loan.

Jun 30, 2020( 2 min read )

Home Loans

Top five refinancing home loans that could save you money in the long run

Refinancing isn’t free, but it can save you money in the long run if you switch to a home loan with a lower interest rate, such as these home loan choices.

Jun 16, 2020( 2 min read )

Home Loans

What is a cooling off period, and how do they work?

A cooling off period is a length of time that follows signing a contract to purchase property, during which a buyer can choose to terminate the agreement without being in breach of contract and losing their deposit. This gives you a window of opportunity to change your mind about a property purchase if your circumstances change, or you decide it’s not right for you.

May 8, 2020( 4 min read )

Comparing home loans can take up hours of your time but it’s a necessary part in the home buying process. Luckily you can now compare thousands of home loans in one place, which makes shopping around just a little bit easier.

Home loans differ from lender to lender, and for each person. It’s a personal choice and important to find a lender that understands your financial needs and can offer you a competitive home loan interest rate.

If you already have a home loan, looking around will help you stay on top of the trends, so you know when you’re paying a higher interest rates than all the competitors are offering.

Get started on your research, RateCity has a range of finance articles, home loan comparison tools and mortgage repayment calculators that will have your financial planners coming to you for advice.

RateCity Staff

Today's top home loans products

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Real Time Rating™

Advertised Rate

Comparison Rate*

2.59%

Variable

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Repayments may decrease if RBA cuts rates

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Smart Home Loan

Real Time Rating™

Advertised Rate

Comparison Rate*

2.57%

Variable

2.59%

special

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Home Value Home Loan (Principal and Interest)

Real Time Rating™

Advertised Rate

Comparison Rate*

2.65%

Variable

2.66%

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Star Essentials Home Loan (Amounts $150k-$850k, LVR < 80%)

Real Time Rating™

Advertised Rate

Comparison Rate*

2.39%

Variable

2.39%

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FAQs

Tip: You can use RateCity how much can I borrow calculator to get a quick answer.

How much money you can borrow for a home loan will depend on a number of factors including your employment status, your income (and your partner’s income if you are taking out a joint loan), the size of your deposit, your living expenses and any other debt you might hold, including credit cards.

A good place to start is to work out how much you can afford to make in monthly repayments, factoring in a buffer of at least 2 – 3 per cent to allow for interest rate rises along the way. You’ll also need to factor in additional costs that come with purchasing a property such as stamp duty, legal fees, building inspections, strata or council fees.

If you are planning on renting the property, you can factor in the expected rental income to help offset the mortgage, but again it’s prudent to add a significant buffer to allow for rental management fees, maintenance costs and short periods of no rental income when tenants move out. It’s also wise to factor in changes in personal circumstances – the typical home loan lasts for around 30 years and a lot can happen between now and then.

Compare and save: home loans

Related articles

Five home loans to let you borrow more in July 2020

Five reasons to refinance this financial year

Top five refinancing home loans that could save you money in the long run

What is a cooling off period, and how do they work?

Today's top home loans products

Discount Offer Variable Home Loan OO P&I ($200k+)

Smart Home Loan

Home Value Home Loan (Principal and Interest)

Star Essentials Home Loan (Amounts $150k-$850k, LVR < 80%)

Popular home loans searches

FAQs