Other Home Loans

There are a wide range of finance options available with different banks. Deposit options start from 2%, and climb gradually to a 5% deposit, 8% deposit, 10% deposit and 20% deposit. Our mortgage brokers have extensive experience in the field of construction and will look at a range of options that best suit your position so you benefit from an easy home loan process.

A variable rate home loan will move up and down in line with the Reserve Bank of Australia’s (RBA) official interest rate. This is the preferred option for most home owners as you will have flexibility with repayments, access to redraw facilities, offset accounts and there are no early termination fees or break costs.

A fixed rate home loan means you will pay the same interest rate and repayment for an agreed term, from one to five years. A great advantage of a fixed loan is that you can budget your expenses easily and you always know what your monthly repayment will be. Plus, if the RBA increases official interest rates, your repayment can remain lower than the variable rate depending on what you fixed your rate at. The disadvantage is that if the RBA lowers their official cash rate, your rate will remain the same, possibly costing you more. There can also be costs for paying out your loan early or breaking your fixed term agreement.