Mortgage Loan Types

The Home Loan Shop, Tasmania has a range of lenders offering different home loan & investment loan types. Perhaps you need a loan for a home or investment property, need to refinance your home loan, a home improvement loan, or perhaps you are a first time home loan applicant? Whatever your needs, we can help you find the right mortgage loan for your circumstances. Available loan types include:

Standard Variable Loan
Basic Variable Loan
Discounted (Honeymoon) Variable Loan
Fixed Rate Loan
Split Facility
Line of Credit
Investment Property Loans
Non-Conforming Loans
Low-Doc Loans
Reverse Mortgage
Shared Appreciation
Professional Packages

Choosing a home loan from the thousands available can be daunting. Product features, fees and charges vary greatly. To find the right mortgage loan it is important to assess your requirements thoroughly before purchasing real estate.

We compare it to buying the family car: will the basic model be satisfactory to your needs, or do you require the ‘tricked up’ version? The same can be said for your home loan. If you don’t require features such as mortgage off-set or loan redraw, a basic home loan that attracts a cheaper interest rate than the standard variable may be more appropriate. Or you may feel more comfortable with a fixed rate home loan and knowing that your repayment won’t alter for a set period.

When researching general information about the most popular home loan types, remember it is not as simple as finding the cheapest interest rate. Like many purchases, what looks like a bargain may turn out to be a very costly mistake, so always seek the advice of an Accredited Mortgage Loan Consultant.

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