FAQ
Loans are financial products and needs to be repaid on time. The repayment is easier if you properly analyse your need and go for the exact home loan plan. To make your loan search easy, here are the answers to some frequently asked question.
I am a first time buyer. Which loan plan is best suited for me?
If you are a first time buyer, the most suitable loan plan for you is the honeymoon rate loan plan. In this loan plan you will have the option to have a fixed outgoing during the initial repayment tenure. Between this time, you can easily make advancements to your financial condition.
What is the difference between fixed, variable and split rate?
In case of fixed rate, your monthly outgoing remains the same throughout the repayment tenure. The interest rate in case of variable rate loan plans varies according to the changes in the official rate. The split rate offers you the advantages of the both.
I have bad credit problems. Can I have a home loan?
Bad credit is not a problem for the approval of the home loans. You can have all the three types of interest rates available in the Australian loan market. However, you may face a hike in the interest rate compared to the good credit borrowers.
I am a self employed professional. How can I avail a cheap home loan deal?
If you do not have the updated tax returns, low/no doc home loans are the best options for you. These loans need least documents to be approved.
What is the ideal loan plan for the real estate investors?
The investors can avail the interest only home loans. In the initial period of repayment, they pay for the interest part only and the principal is paid at once. |
