Your home loan interest rate options


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administrator

Jul 2, 2009( 1 min read )

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If you’re in the market for a home loan, you will have four interest rate options to choose from:

  • Introductory rate, also known as a “honeymoon rate”
  • Fixed rate
  • Variable rate; or
  • Split loan (a combination of fixed and variable rates)

To help you find the home loan type for your purposes it’s important to clearly understand and identify your needs.

There may be some product features you would like, but they come at an additional cost. The home loan interest rate you choose may permit your from making additional repayments with penalties.

This is the common setback with fixed rate loans so consider the benefits you will receive and how much it will cost you if you plan to pay back your loan early.

By keeping track of interest rates on RateCity.com.au, you will be able to find the best market rates available daily.

The table to the right shows today’s best home loan interest rates, ranked by lowest variable rate loans.

Related search: Low rate variable mortgages.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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