What are residential home loans?

RateCity StaffJun 29, 2010( 1 min read )

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Residential home loans are home loans that exist for residential purposes as opposed to commercial gain and are available to those who are buying their own home, purchasing a block of land or building a home to live in.

There are two main types of residential home loans available to choose from, depending on your needs:

Variable residential home loans: This type of loan offers a variable interest rate which generally changes as the Reserve Bank of Australia’s (RBA) cash rate moves.
Fixed residential home loans: With this type of loan the interest rate is fixed for a certain term, usually up to 10 years.

Residential home loans can also feature a combination of part of the loan fixed and part a variable rate.

To find a home loan that suits your individual needs visit the RateCity home loan comparison page.

RateCity Staff

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What are residential home loans?

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Today's top home loans products

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

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