The basic home loan is offered by most institutions, generally at a reduced interest rate. It has minimal features but is very attractive to borrowers that are looking for a loan without all the other account features.

 

A fixed rate home loan offers borrowers the security of knowing what their repayments will be regardless of interest rate changes; in the event of interest rate increases your repayments will not go up, however, the interest rate will not fall in the event of interest rate decreases. These loans are generally less flexible in relation to additional repayments, fixed rate term, restructuring etc. and because of this they may not be suitable to all borrowers.

 

This product is offered by most financial institutions as their main stream home loan. The standard variable home loan has greater flexibility, more features and better options than the 'basic home loan’.

Some of the features and options include: Salary crediting, redraw facilities, off set accounts, additional repayments options, top ups, construction loans and fixed rate options.

A standard variable rate loan does not mean you pay the standard rate, with all financiers offering "life of loan" discounts based on the package you qualify for.

A line of credit is a revolving facility that allows the borrowers the flexibility to redraw back up to the approved facility limit at anytime. This type of facility is particularly popular for borrowers looking to re use their loan funds for home renovations or investment etc.

 

A construction loan is a loan for those borrowers wishing to build a new home or substantially renovate their existing property. Typically this involves a licenced builder who requires progressive draw downs during the term of the build as construction milestones are met.

 

Do you need to make home improvements?

Want to invest or consolidate your loans?

Perhaps you want to buy a new car, travel or upgrade your furniture?

You may already have the finances to do that right now with the current equity in your home! If you have had your home for some time, then this equity could be substantial.

At Home Loans Canberra, we understand how to structure home equity loans and we strive to meet your individual needs and goals.

If you're thinking of utilising your equity, let our Loan Specialists design a home equity loan package that works for you and will help you better your quality of life.

The low doc home loan is a facility that enables self-employed applicants the ability to borrow monies where current financials are not available.

A bridging / relocation loan provides for the ability of the client to buy their new residence prior to having sold their existing residence.

 

A reverse mortgage basically allows you to borrow against the value of your home. You'll receive either a lump sum or a regular monthly payment. Your obligation to repay the loan kicks in when the following happens: you die, sell your home or leave it (to go into aged care for example). Then, you or your estate has to repay the debt (including interest), usually out of the sale proceeds of your home. The amount you can borrow depends on your age and value of the property. Your Home Loans Canberra Consultant will be able to go through the pro's & con's so you can decide if a reverse mortgage is for you.

A deposit bond is used to take the place of cash at time of exchange of contracts on the property being purchased. 

 

A Home Loans Canberra consultant can assist with organising your lease / hire purchase, to purchase a vehicle or do a fit out.