How to get the best home loan

 

Are you looking at buying a new home? Find out how to get the best home loan for your needs and save money at the same time with our easy comparison tools. 

   

Buying a new home can be an exciting and exhausting experience. But even though you are busy, it is important that you give enough attention to getting the best home loan.

If you pick the wrong home loan, it can cost you more than $100,000 over the life of the loan. Plus, if it doesn’t have the features you need, you could find yourself having to refinance with even more effort and associated costs.


To avoid the headache, make sure you shop around and get the best home loan in the first place..

What is the best home loan?

Put simply, the best home loan is the one that meets your needs at the lowest possible cost. This will vary for each person according to their unique situation.

Home loans come in a number of broad types.

Offset or no Offset

The simplest type of loan is a streamlined loan with no bells and whistles and the lowest possible interest rate. Ours is called the Essentials.

Another popular type of loan has a redraw offset facility which can help you to pay off your loan faster and with less interest. We call our offset loan the Offset (we like to keep it simple). Whenever you put money into your redraw offset facility, that money is 100% “offset” against your home loan.

Construction Loans

If you have bought land and are looking to begin building or are completing extensive renovations to your existing property, you could consider a construction loan. This lets you draw down your loan to pay for construction as it progresses.

Fixed or Variable

Another issue you should consider is whether you want a variable rate loan which can go up or down, or a fixed-rate loan where your interest payment is fixed for a period of time. Once you have worked out which of these types of loans you are looking for, you can use our handy tools to compare loans.

Tools to compare

Compare our home loan rates and features to find the best home loan that is right for you.

If you want to see how our home loan rates compare to other lenders and how much you can save check out our comparison here. This comparison uses data sourced from Canstar Research.

 
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