![]() Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Low variable mortgage ratesīuying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.īase criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. We’ll also go over ‘ refinancing loans‘ and ‘ guarantor loans‘, which aren’t technically a thing but are commonly sought terms. The following types of mortgages are commonly used around Australia: So we’ve briefly summarised each of the main types of home loans below and how they work. And like a bad relationship, the wrong home loan can have a significant impact on your finances and your standard of living.ĭifferent home loans will be more beneficial (and often required) for certain circumstances, so it’s worth knowing which type of home loan can be used for what purpose. Having this many options can be overwhelming, leading many to rush into making a bad choice. There are quite literally thousands of home loan products on the market for a range of different purposes.
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