Lenders use their own names and terms for each of their home loans. In reality, there are only a handful of different loan types.
Basic Home Loan
Package Products( Basic Loan+facilities)
100% Offset Home Loan / Offset Account
Partial Offset
Equity Loans
Line of Credit
Fixed Rate Loan
split loans( ratio of fixed and variable)
Rate Tracker Loan
Low Doc Loan
Which one is right for me?
You should be know the facilities needed now or in future before you choose a loan product.
The more features your loan has, the more are the chances of higher interest rate.
This is particularly true for low doc loans, fixed rate loans and line of credit loans.
The main things you need to consider are:
Ability to make extra repayments?
Redraw facility requirements
Do I need easy access to my funds via an offset account or ATM access to my loan?
Would I like the security of knowing exactly what my repayments are each month?
Would I like to be protected from interest rate fluctuations?
Is my loan large enough to negotiate a professional discount? (Generally over $250k but some banks may consider $200k)
Get a Quote
Now apply for a Car or Truck Loan online, All you need to do is provide your details below application form.
