How to choose a home loan that is right for you

November 1, 2018

How to choose a home loan that is right for you

Low rate products

Introductory offers, honeymoon rates and ‘no frills’ loans are some of the ways banks generate interest in their products, but they don’t necessarily lead to a cheaper home loan overall.

Apples vs apples

It can be difficult for borrowers to compare loans effectively without the right calculators. Not only should buyers be comparing interest rates, but the pros and cons of the product as well, for example: redraw offset, and monthly fees.

Comparison rate

A comparison rate helps you work out the true cost of a loan. It takes into account all fees and charges for the life of the loan and reduces to a single percentage figure. This allows you to compare loans from different lenders and is quoted on all advertised rates.

Terms and conditions

Some low interest products may have conditions such as break costs, rollover terms, etc.

Getting it right

Choosing the right home loan can be one of the biggest financial decisions you will make. Seek professional advice for peace of mind.

Home loans with Deborah MurphyDeborah Murphy
Aussie Dream Home Loans
Phone: 0439 772 373
aussiedreamhomeloans.com

Have Your Say

Your email address will not be published. Required fields are marked *

Related Stories

Connect with us #PROFILEMAGAZINE