| There are hundreds of
different home loans on the market,
all with different interest rates, fees and
features. If you haven't already
decided, the following information might help you
choose the type of home loan that's best
suited to your situation. Australian Home loans
are generally categorised under: |
| Australian
Home Loan Types
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Each mortgage lender on the Aussie Best Loans
Centre panel has slightly different
terms and requirements. Request an obligation free home loan appointment and your Home Loan Consultant will explain the
differences and how each home loan could
suit your individual needs. |
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Standard
Variable Rate
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Standard
Variable Rate loans
typically offer you
maximum flexibility and
great features,
including the option to
fix or split your home loan,
the ability to make
additional repayments
when you can afford to,
and the option to redraw
these funds for any
purpose when you need
to. |
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Basic
Variable Rate
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Basic
Variable Rate
loans offer a lower
interest rate, but fewer
features. However, you
usually have the option
to pay for additional
flexibility and features
when you need them. |
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Fixed Rate
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Fixed
Rate loans
protect you against
interest rate changes
for an agreed time, so
you have peace of mind
knowing your repayments
won't increase. However,
you won't benefit if
rates go down during the
fixed term of the home loan. |
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Combination
or Split Rate
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Combination
or Split Rate
loans combine the
flexibility of a
variable rate and the
certainty of a fixed
rate, so you benefit
when interest rates drop, and are
protected when they
increase. |
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Low
documentation Loans
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Low
documentation Loans have
been designed especially
to help borrowers who do
not meet 'standard'
lending criteria,
including those who have
an impaired credit
history and unable to
provide the required financial documentation in support
of their loan
application. |
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Home
Equity Loans
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Home
Equity Loans
allow you to unlock the
equity in your existing
property for other
opportunities such as
renovating your home,
investing in shares or
managed funds, or
financing an investment
property. |
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Line
of Credit
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Line
of Credit loans
are interest only
variable rate loans that
allow you to borrow
against the equity in a
home with the added
flexibility of a
transaction account
built into the home
loan. |
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All-In-One
Loans
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All-In-One
Loans feature an
everyday transaction
account linked to your
home loan. By keeping
all your money in your
loan account, and only
redrawing your living
expenses as you need to,
you can reduce the
amount you owe. This, in
turn, reduces the amount
of interest you have to
repay, making your money
work much more effective for
you. |
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and
we will contact you within 2 business days!
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