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Home Loans Articles
Learn more about how to manage your personal finances with RateCity's home loan articles, including how-to-guides on comparing home loan interest rates, fees, features and other benefits.
Mark Bristow
Personal Finance Editor
What credit score do I need for a home loan in Australia?
Borrowers with fair or higher credit scores may have an easier time getting their mortgage applications approved. But even if you have a poor or below average credit score, if you can fulfil the lender’s other eligibility criteria, there may be steps you can take to confidently apply for a home loan in Australia.
Home Loans
08 Aug, 2023
3 min read
Mark Bristow
Personal Finance Editor
Who is eligible for the Home Guarantee Scheme?
The Australian Federal Government’s Home Guarantee Scheme (HGS) can help Australians purchase their first property. First home buyers, regional home buyers, and single parents may all be eligible for the program, provided they also fulfil the other eligibility criteria.
Home Loans
07 Aug, 2023
7 min read
Alex Ritchie
Personal Finance Editor
What is the cash rate?
The official cash rate tends to influence financial products which could see you paying more, or less, on your loans. But what is it, why does it fluctuate and how could it affect you?
Home Loans
02 Aug, 2023
6 min read
Alex Ritchie
Personal Finance Editor
Do mortgage brokers have fees?
Enlisting the help of a mortgage broker during your home buying journey can be advantageous in a number of ways. But will it leave you out of pocket?
Home Loans
31 Jul, 2023
3 min read
Alex Ritchie
Personal Finance Editor
What is the average mortgage broker commission rate?
Are you buying a new home and need the help of a mortgage broker? You may want to know more about the commission and trail commission your broker may receive.
Home Loans
25 Jul, 2023
3 min read
Peter Terlato
Personal Finance Editor
How do second mortgages and home equity loans differ from refinancing?
Both refinancing and home equity loans let you borrow against the equity you have built up with your home. But the best choice for you may depend on your financial situation and personal goals.
Home Loans
25 Jul, 2023
6 min read
Alex Ritchie
Personal Finance Editor
Should I apply for a mortgage through a bank or a broker?
You may consult a mortgage broker to find a suitable home loan, but if you have a bank account you can check if that bank offers a suitable mortgage too.
Home Loans
24 Jul, 2023
5 min read
Mark Bristow
Personal Finance Editor
What is a commercial finance broker?
Commercial finance brokers put borrowers in touch with lenders to organise loan deals, much like mortgage brokers. The difference is that commercial finance brokers specialise in brokering deals for commercial purposes, such as loans to start or run a business, or to purchase property or equipment for work use.
Home Loans
24 Jul, 2023
3 min read
Alex Ritchie
Personal Finance Editor
What is a comparison rate, and how is it calculated?
A comparison rate is an indication of a home loan’s overall cost, combining its interest, fees and other standard charges into a single percentage rate.
Home Loans
20 Jul, 2023
5 min read
Vidhu Bajaj
Personal Finance Writer
Does Afterpay affect your home loan application?
When applying for a home loan, all your current debts are taken into consideration. So, what’s the impact of your Afterpay account on your home loan application?
Home Loans
19 Jul, 2023
6 min read
Mark Bristow
Personal Finance Editor
What is the average Australian home loan amount?
According to the Australian Bureau of Statistics (ABS), the average home loan amount in Australia for owner-occupier dwellings as of May 2023 is about $584,836, which may seem like a lot. But you must remember that the state and capital city you reside in is an important factor that determines the property values, which in turn influences the average Australian home loan.
Home Loans
17 Jul, 2023
2 min read
Alex Ritchie
Personal Finance Editor
How to take out a home loan
There are three ways to take out a mortgage for your property purchase; you can use a mortgage broker, you can go direct-to-lender or you can use a comparison website, like RateCity.
Home Loans
12 Jul, 2023
6 min read
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