Home Loans
Home Loan Finance Types LoanMate can help you with
LoanMate
Standard Variable Home Loan
The standard variable home loan is LoanMate's most sought after home loan. The variable part means that the interest rate means that the interest rate will vary in line with market condition. Right now interest rates appear to be heading down and this is good news for home buyers and home owners because it means that their monthly repayments will go down over time. In other periods it also means that the rates will rise and that would mean that your repayments will rise in line with rate rises. Its flexibility and its features make this loan the one most home buyers want.
My suggestion to you is to get in now whilst home loan rates are falling and pay off your loan as quickly as possible.
Basic Variable rate home loans
The other popular loan at least with budget conscious home buyers is the basic variable home loan.
This home loan has a lower interest rate, but are less flexible and have higher application fees and exist costs, so the lower home loan nterest rate can be deceptive all thing considered. Yes the rate is lower, but many of the features of the standard variable home loan will save you time and money.
One thing that I have noticed over the years is that people start with this
type of loan and then change over in three years time to the standard variable are among the cheapest product in the market. This
product appeals to budget-conscious (low-income) home buyers who can't get a
professional package home loan , first time home buyers that are looking at
lowering the monthly repayment bill. Just remember that there could be better
option available to you.