Home LoansHome Loans

There are many different types of home loans available in Australia. As a general rule,loans which are secured by residential property are known as home loans.

When the government introduced NCCP(National Consumer Credit Protection Act) came into force in January 2011, both residential secured loans for owner occupied purposes and investment purposes came to be known as home loans as they were now covered under the NCCP.

Types of home loans

At Mortgage Providers we have access to a wide variety of different home loan types. We also specialize in specific niche types which makes us stand out from other brokers. The home loan types include but are not limited to:

Requirements for a home loan?

In order to qualify for a home loan, one must be able to primarily demonstrate affordability. Further, when taking out a home loan, one must be able to have a satisfactory credit rating, and must also be purchasing or refinancing suitable security. To discuss your specific requirements, we invite you to call us direct and speak to a home loan specialist on 1300 656 600.

Home Loan Interest Rates

Different lenders offer various interest rates for loans they offer. You will notice that rates can vary between lenders for the same loan types. When wanting to compare interest rates, its best to speak to a Mortgage Providers broker who can offer you a comprehensive product, and cost comparison schedule. Further, a Mortgage Providers broker can clearly explain the difference in features between lenders.

Home loan costs

When buying or refinancing a property, you could possibly incur costs. These costs vary depending on your particular scenario and position. If you are purchasing a property you could incur statutory costs like stamp duty and government registartion fees. These could be waived if you are a first home buyer depending on the state you are living in. Nonetheless, when refinancing you could get a lender rebate your refinance costs if you elect to refinance. If you would like to know which lenders offer a rebate for refinancing, its best to call us direct and speak to Mortgage Providers broker.