Compare investment loan rates

Find home loans from a wide range of Australian lenders that best suit your needs, whether you're investing, refinancing or looking to buy your first home. Compare interest rates, mortgage repayments, fees and more. - Data last updated on 18 Jun 2019

Compare investment home loans

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Investment loan rates

If you're thinking about investing in a residential property, there are a number of issues that you need to consider. It's not always easy to secure a loan for that type of investment, even when interest rates are very low.

It will depend on where you are considering buying, as prices will be higher in desirable areas. They can also be higher if there is a lack of inventory available, so this needs to be factored into your decisions.

What is an investment loan?

Investment loans aren't very different to regular home loans, or mortgage loans – you will own the property bought with such a loan, yet won't occupy it yourself.

Many people consider homes a good investment because the property is likely to appreciate in value, provided it is looked after well, and there should be a steady rental income stream.

As with normal mortgages, investments loans can be agreed at a variable interest rate, a fixed rate locking you into a specific rate for a period of time, or a split rate where you can choose a mix of variable and fixed.

How does an investment loan compare to other similar products?

Investment loan rates generally work the same way as a mortgage for the property of which you are the owner-occupier, and though it may not be as cheap as a standard mortgage, it is likely to be cheaper than taking out a large bank loan or other type of loan. That doesn't mean you shouldn't shop around and make loan comparisons, because financial companies are always looking for new customers and you could secure an attractive deal. Two types of loan that investors consider attractive are:

  • Interest only - where the borrowed sum remains the same but you only make interest payments on that sum until you sell the property or at the expiry of the interest only period.
  • Line of credit - where, if you own a property, you can tap into any equity that you've built up on it to use as a deposit for the investment property that you want to buy. You could think of it as a sort of credit card that has a big limit, but the loan's security is given by the equity in your home.

Tips to make it easier to get an investment loan

Loan companies want as much security as they can get. This should come as no surprise, because loan companies they want their money back. Very few things in the financial world are easy, but you can do a lot to help yourself.

Try to put down a sizable down payment – the more you're able to afford as a deposit, the more likely you could be offered a lower interest rate for repayments, saving you money in the long term.

Before approaching a lender, check out your credit score – the better your credit rating is, the more likely you are to pay less interest.

Research a variety of lenders and compare their various products – you might discover some very attractive deals as companies vie for your business.

Start comparing home loans

FAQs

Equity refers to the difference between what your property is worth and how much you owe on it. Essentially, it is the amount you have repaid on your home loan to date, although if your property has gone up in value it can sometimes be a lot more.

You can use the equity in your home loan to finance renovations on your existing property or as a deposit on an investment property. It can also be accessed for other investment opportunities or smaller purchases, such as a car or holiday, using a redraw facility.

Once you are over 65 you can even use the equity in your home loan as a source of income by taking out a reverse mortgage. This will let you access the equity in your loan in the form of regular payments which will be paid back to the bank following your death by selling your property. But like all financial products, it’s best to seek professional advice before you sign on the dotted line.

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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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