Principal & Interest vs Interest Only Payments
Principal & Interest
A common feature of any given home loan is whether you have to pay principal & interest (P&I), or interest only (IO).
Interest Only Payments
Interest-only loans have typically been more popular in the investment home loan space as they allow the investor to manage cashflow while sorting out tenants and attaining capital gain.
Fixed vs Variable interest rates
Fixed interest rates
A fixed interest rate home loan is a home loan with the option to lock in (or ‘fix’) your interest rate for a set period of time.
Variable interest rates
A variable rate home loan is a home loan where your interest rate will ‘vary’ with changes to the current market. This means your interest rate can rise or fall over the term of your loan.
About First Home Buyer Loans
Our experience will explore First Home Owners Grants (FHOG), potential stamp duty exemptions, limited equity and Family Pledge assistance products. By tailoring your options, we can often help reduce your home loan interest rate or even eliminate lenders mortgage insurance (LMI) costs.
Ready to trim thousands of dollars and years off your home loan? Contact us today. We guide you through everything from determining your suitable borrowing potential to selecting a lender and repayment structure suited to you and your lifestyle.
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Other Services
Investment home loan
An investment home loan is a home loan for people looking to buy a property with the intention of renting it out and profiting through a rise in the property’s value.
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Refinance Home loan
If you’re one of many that feel like they’re getting a basic deal on your home loan, you have the power as a borrower to do something about it.
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Guarantor Home loan
A guarantor home loan allows a close relative (typically a parent) to use the equity in their home as security for part or all of your mortgage.
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Low doc home loan
It is a home loan available to those that don’t have the correct proof of income documents available at the time or can’t get them at all (Low documentation)
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Construction Loan
A construction loan is a loan designed to assist funding of a new home’s construction. Getting a loan for a home that doesn’t exist yet is a bit trickier
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Bridging Loan
Sometimes, you find your dream home and you want to secure it before someone else swoops in – but you don’t have the funds to purchase it because the money hasnt settled on your old home.
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Line of credit Loan
A line of credit loan might be a suitable choice for borrowers looking to access some of their built-up equity to satisfy short or long-term financial needs.
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Reserve Mortgage
A reverse mortgage is a type of equity release product (ERP) that essentially allows older Australians to borrow money by using the equity in their home as security for the loan.
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