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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.
Standard Variable Home Loan Standard Variable Rate loans are the most popular type of loan, are based on the official Reserve Bank rate and, as the name suggests, will vary with time depending on the market.
If rates go up so will your repayments and vice versa if they go down. This type of loan is traditionally the most flexible and may include optional features such as the ability to make extra repayments, to redraw funds or to split your loan, just to name a few.
It may also be possible to incorporate an introductory discounted rate with this type of loan. Introductory rates are usually effective for the first 12 months of the loan, at which it then reverts to the standard variable rate for a prescribed period.
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