Investment loans reviewed How to choose the right loan for your purpose

If you want to invest in property in Australia, then you will most likely apply for a property investment loan from one of the home lenders. In the past, investment loans used to purchase investment properties charged a slightly higher interest rate than home loans for owner occupiers. However, with increased competition in the home loan market in Australia, you can now find an investment loan for a property with the same low interest rate available to owner occupiers. Here we look at investment loans for property investors.

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Invest in property with an investment loan at competitive rates

Over the past decade or so, property investing has become very popular, particularly in Australia's two largest cities, Sydney and Melbourne, where property prices have skyrocketed producing excellent investment returns. This increasing popularity in investment properties has helped drive the property market to record highs over the past decade. It has also provided a boon to those in the market for a home mortgage as competition between home lenders throughout Australia has become increasingly competitive. This competition has helped make Australian investment property loans much more attractive to investors. In fact, property investors can now get the same interest rate deal as an owner occupier home mortgage.

Investment loan options

As with any other home mortgage, you can get an investment loan with the option of a fixed term interest rate, a variable interest rate or a split rate. Some property investment loans may also include a redraw facility, direct salary credit or direct debit options. When searching for a property investment loan, shop around for the best deal and make sure you compare interest rates and fees and charges.

You can compare different investment loan options on our home loan resources page.

Another important point to remember when considering an investment loan for a property is that you do not have to be an existing property owner in order to qualify for a home investment loan. Even if you have never had a mortgage or owned a property before, you may still be eligible to apply for a property investment loan. However, it's important to realise that you will not be eligible for the First Home Owners Grant from the Australian Government if the home loan is for investment purposes.

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Investment loans reviewed How to choose the right loan for your purpose

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Reduce your interest payments with a line of credit mortgage

A home loan with a line of credit allows you to put all or most of your salary into your home loan and make the bulk of your purchases through the month by using your credit card and taking advantage of the interest free period. By doing this, you can reduce the outstanding balance of your home loan thereby saving you money through reduced interest charges. Here we look at line of credit home loans available in Australia including the benefits and who they would most suit.

Variable Rate Home Loans

Variable rate home loans allow you to take advantage of falling interest rates. With a variable rate loan the interest rate you pay on your home loan varies with the interest rate that is set by the reserve bank of Australia, this means that if interest rates fall so does the interest you pay on your home loan. Conversly, the down side is if interest rates rise you will be paying more interest on your home loan. Here we take a look at situations where you would consider taking out a variable rate home loan.

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