What is Best? a Fixed or a Variable Home Loan?

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To fix or not to fix

If you're about to buy a house or you're looking to refinance you may be asking yourself, should I fix my home loan or not?

Like most decisions, there are pros and cons for each option.

Here are some things to think about to help you decide.

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What is “Principal and Interest” on a home loan?

Learn about one of the most basic details of your home loan and how to make use of it to pay your loan off quicker.

The phrase "principal and interest" or "P&I" is top of mind for many borrowers at the moment.

Recent moves by the Australian Prudential Regulation Authority (APRA) have seen many lenders cut rates on principal and interest home loans while raising rates for interest-only borrowers. These rate moves have grabbed media attention, as lenders try to incentivise interest-only borrowers to move to principal and interest repayments.

If all that media coverage has you scratching your head, fear not: We're here to demystify principal and interest repayments for you.

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how to get a pre approval for a mortgage ?

AAA PRe approved Want to get into your new home quicker? Get pre-approved !

What is the home loan pre-approval process?

The home loan pre approval process, also known as conditional approval or approval in principle, is when your bank conditionally approves or denies you for a loan before you apply to buy a house.

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What does 'non-genuine savings' mean?

AAA deposits-for-buying-a-property2When applying for a home loan you’re usually asked to provide a lot of different information, including how much money you’ve saved.

These savings will be the deposit that you put towards the purchase of your new home. You may also be asked questions about how you’ve saved your deposit, as this is one way lenders consider whether you have the capacity to pay your home loan repayments every month. Generally, lenders will distinguish between what they call ‘genuine’ savings and ‘non-genuine’ savings.

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