PRODUCTS
What type of home loans are there ? The type of home loans we can provide are: Standard Variable Home Loan Basic Variable Home Loan Fixed Rate Home Loan Split Loan Introductory or Honeymoon Rate Home Loan All - In - One Home Loan Line of Credit / Equity Home Loans Low Doc Loan Bridging Home Loan Non-conforming Home Loan Professional Package Product Over the last 5 years there have been many new home loan types created to meet the varying needs of the market. In fact, we have up to 2000 home loan products available through 30 lenders including the major banks. If you need more information on these types of home loan products and how they suit your individual home loan call us today.
Line Of Credit / Equity Home Loan Line of Credit, also known as Equity Lines or Revolving Credit, works more like a credit card and provides increased flexibility.
The lender assigns you a credit limit secured against your property, and when you need cash you draw against that limit, usually by writing a cheque or using a special debit card.
As you pay back the loan (the terms of repayment vary), the money becomes available to you again. Line of Credit loans usually attract a slightly higher rate of interest than a loan where the balance is continuously reducing.
One of the biggest advantages of a Line of Credit is that you always have ready access to money, which makes this type of loan attractive to investors.
Velocity Home Loans Pty Ltd Licensed Finance Broker