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.
DOMDocument::loadXML(): Start tag expected, '<' not found in Entity, line: 2
Looking for a great value home loan with super fast approval?
Get Pre-Approval online & get a response in minutes with MyRate. Choosing Between Variable Rate Home Loans
When your looking to take out a home loan you generally have two choices of interest rates, variable rate loans and fixed rate loans. When considering which loan type to take out, it is important to consider how you foresee interest rates, whether you think they are going to rise or fall. If you believe that interest rates are going to rise, then it may be more beneficial for you to consider a fixed rate loan, but if you think that interest rates are likely to fall, then it may be more beneficial for you to take out a variable rate loan.
Which Variable Loan to Choose
With so many mortgage providers offering variable rate home loans it can be hard to choose which loan is right for you. When considering a variable rate loan you should consider if it is the best option for your situation now and in the future. It is important to consider what impact an interest rate rise will have on your situation, can you cover the extra repayments?
Is a Split Variable Home Loan a Good Option?
Consider taking out a split variable loan with a partly fixed portion. Having a portion of your loan in a fixed interest situation allows you some protection should interest rates rise, whilst giving you the benefit of a variable rate for the remaining portion should interest rates fall.
DOMDocument::loadXML(): Start tag expected, '<' not found in Entity, line: 2
Digg this Post page to del.icio.us Post page to Furl
Home Loan Info.com.au
Bookmark this site!
Featured Home Loan Information
If you are looking for information about a Canberra home loan, you have many options available to you when it comes to choosing your home loan. Here are just three home loan options you will have when seeking finance for your new home in Canberra.
Over the past decade or so, investing in property has become all the rage in Australia, especially in the larger property markets of Sydney, Melbourne, Brisbane and the Gold Coast. Many budding investors have been attracted by the huge gains that have been achieved thanks to the Australia-wide property boom. Another attractive reason is that of the tax benefits of negative gearing. But is negative gearing into property really a good investment strategy?
Looking for a home in Adelaide? Thinking about home loans and finance, but wondering where to start. Our website is hear to assist you in your search for the perfect Adelaide home loan. Our partners are experienced in helping home buyers, just like yourself in finding the best solution available.
In Australia, the interest rates used to calculate mortgage repayments are guided by the official interest rates set by the Reserve Bank of Australia (RBA). The RBA will change interest rates from time to time in order to control inflation. Here we look at interest rates including why they might rise or fall and the different interest rates that apply to home loan mortgages.
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.
