Home Loans are directed at the owner occupier property market and are used to purchase a property to live in or refinance an existing home loan.
Home loans can be divided into two broad types, “Basic” home loans and “Professional Package” home loans.
A basic home loan is a low-cost option with no ongoing fee’s that does not have an offset account, but it does allow you to pay extra off the loan. Any overpayments can then be redrawn later, should you require the funds.
A professional package home loan generally has an annual package fee of between $199 and $395 and includes redraw, an offset account, free credit card and quite often discounts on interest rates and insurance.
There are several options available with both loans, which include the interest rate choice being either fixed or variable or a combination of both with a split loan and then you can choose the repayment type being principal & interest or interest only. The type of loan you choose, and the options selected will depend on your personal circumstances and should be carefully considered before a choice is made.
Request a free consultation with one of our expert mortgage brokers by clicking here or calling 02 9934 9735.
TAKE ACTION TODAY
Many of our clients experience savings of over $50,000 on their home loan.
To find out how Right Financial can help you save money on your home loan,
simply call us or complete the form below, and we’ll guide you through the next steps.