Types of Home Loans

• Construction Loans
• First Home Owner
• Fixed Rate Loans
• Variable Rate Loans
• Loans for Bad Credit Ratings
  
• No deposit Home Loan
  
• Offset Accounts
  
• Pay off your loan sooner
  
• Redraw Facilities
  
• Split Loans
  
• Line of Credit
  

Construction home loans

Wanting something unique? Having difficulty finding a house that suits your personal needs and individual style? Building a new house might just be the answer. You can borrow up to 90% of the land and building contract value for either residential or investment property construction. Simply contact one of our team members at MortgageBrokers.net and let us help to make building your dream home as stress free as possible.
Alternatively, if you are interested in a construction project for investment purposes, ask our friendly staff how we can maximize your profits. Due to the fact that individual needs vary greatly from borrower to borrower; there are many construction facilities available on the market. Here at MortgageBrokers.net we have the ability to find the product which will best suit your specific needs.

First Home Owner

The First Home Owners Grant (FHOG) is applicable to borrowers who have never owned a residential property before. The FHOG can be used to cover the costs of some of the fees and charges related to buying your first house. A majority of financial institutions require 3-5% savings as the deposit, and you no longer need to show genuine savings. This means that the FHOG can now be used as your deposit. To make things a little bit easier on you, we can arrange so that the FHOG is paid out at the same time that your loan settles. Feel free to contact us to find out more.

Fixed rate home loans

In order to guarantee a consistent interest rate on your home loan, you have the option of fixing the rate for a period of 1-10 years. In the current economic climate, many home buyers are concerned about increasing interest rates; by choosing to fix your interest rate you are securing a unvarying periodic repayment for the chosen fixed term.
It may be a good idea to opt for a rate lock during the application process. Although this can often come at a cost, it will guarantee you the specific rate for the elected fixed term. It is also worth noting that some fixed facilities place limitations on extra repayments allowed over the fixed period of the loan. If you believe you may want to make extra payments, please ensure that you mention this when discussing your loan with us in order to avoid any penalties that may otherwise apply.

Variable Rate Home Loans

Depending on the current economic climate, interest rates will rise or fall accordingly. A variable rate loan is a standard mortgage which uses interest rates generated by the economic climate. This means that the interest rate of the loan and the periodic repayments can vary greatly. With this facility you make principal and interest reductions in every repayment. With a variable rate loan it is possible to pay large sums off your loan without incurring penalties. Due to this, it is possible to pay off your loan much faster. Discount variable loan products also exist, where you receive a discount on the interest rate for the duration of the loan. To find out more contact one of the MortgageBrokers.net.au consultants today.

Home loans for bad credit ratings

First of all, don’t be embarrassed about your situation; many people get into financial trouble occasionally. So even if you have a bad credit rating due to judgment or payment defaults, we can still help. We deal with financial institutions that specialize in loans for borrowers with bad credit ratings. Through the non conforming market you can borrow up to 95% of the value of a property, and you still have the opportunity to borrow to refinance bad debts as well as purchase a home.
By using a non conforming product you can get your finances back on track, and begin to build a better credit rating through your home loan repayments. Once a solid repayment history can be proven, you will again be within the guidelines of the prime lending market. Call us now on 1300 886 045 and find out how we can get you back on track and into your new home faster.

No Deposit Home Loan

If you have a clear credit history and stable employment, you may be eligible for a “100% Home Loan”. This type of loan stops you from having to scrimp and save for a deposit, and allows you to realize your dream of owning a home right now.
Due to the rising residential market, it is best to get in now in order to start making money and earning equity on your property. Therefore, taking the time to save for a deposit could effectively cost you money in the form of equity. Speak to one of our loan consultants today and find out more about no deposit loans.

Home loans with offset accounts

Establishing an offset account allows you to save on your interest without putting all your available funds into your home loan. This means you can use your savings to reduce the interest on your home loan without actually tying up your savings. Your savings account is linked to your home loan account, so that any savings you accumulate reduces the amount of interest you pay on your loan.
Because your savings are kept separate to your home loan, you are always able to access your savings at any time. Many people find the idea of an offset account confusing, so speak to one of our experienced consultants about the great offset options available to you.

Pay off your home loan sooner

There are many ways to save money on your home loan and to become mortgage free faster. More frequent repayments, reducing interest by paying as little as $10 a week extra or offset accounts are just some of the options you may wish to look at. Here at MortgageBrokers.net.au we have both the experience and the products available to us to help you own your home sooner.

Home Loans with Redraw facilities

When extra repayments are made on your home loan, some lenders offer a redraw facility. Most financial institutions offer the option of a redraw facility; however, they all operate the redraw facility differently. By allowing us to inform you of the available options, you can have access to extra cash whenever you need it.
It is also worth noting that our experienced lenders can structure your loan to both suit your needs and maximize your savings.

Split Home Loans

A split loan effectively gives you the best of both worlds; it allows you the security of one option, whilst also providing the flexibility of another. 
If you would like to fix a part of your loan for a period of time, or have a home as well as an investment property, you can utilize the split loan option. Through this, you can split your loan into two or more facilities to best suit your needs. Contact us at MortgageBrokers.net.au to further discuss the option of splitting your loan.

Line of credit home loans

Want to use the equity in your current property for future investments? A line of credit allows you to easily access the equity in your property using a key card or cheque book.
With a line of credit, available funds can be used at any time and for any purpose, whether it is for investment, business or personal use. It is always your decision as to when and on what your funds are used. To get the most out of your line of credit you will need to use one of the many options available which have been designed to help you maximize your equity and get your loan working harder for you.