Cheap Home Loans

We offer more than just Cheap Loans.

We will match you as a borrower to the best loan deals available in Australia. This service is
completely FREE. Our Best Rate Guarantee means that you will be offered the lowest possible
interest rate loan available for a borrower of your profile:

• Fully Featured Loans;
• Lowest possible rates;
• Online Banking;
• Professional Mortgage Service;
• One of the Largest Mortgage Broker Networks in Australia;
• Award Winning Lenders;

Now is a great time to be in the market for a home loan. Most of the big home loan lenders are out trying to compete for your business, trying to undercut each other or rates, fees and flexibility. NAB was the first mainstream bank to come out with an unprecedented offer to cover borrower exit fees if they were to refinance their mortgage from another big bank to them. Other banks have come out with a matching offer. Every week a new lender announces a reduced interest rate product with more features, lower costs and better loan conditions.

How does one choose? It would be very difficult for an inexperienced borrower to compare home loans available in the market place to determine whether the deal they are considering represents good value. Everyone wants cheap, but sometimes what appears to be cheap is not. What is cheap for one borrower can prove to be quite expensive for another. This is where CheapHomeLoans.net.au comes in.

It is our job to source for our customers the best and cheapest home loans available to a borrower in their circumstances. What good is giving a low doc borrower the cheapest home loan in Australia if that home loan requires full borrower financials?

Similarly, if you have a rural, property then you will need help finding the cheapest home loan available for a borrower in your postcode, and so on. Remember in Comparing Cheap Home Loans you will need to consider the home loan features that you require:

Fixed vs Variable

A decision to fix your loan or to keep it variable will affect the choice of home loans available to you. While fixing some or all of your home loan can protect you from future interest rate increases and even offer you a very low rate of interest, this home loan does come with restrictions. If you need to repay the loan earlier, in most cases very high penalties will apply. You may also not be able to reduce the loan balance during the fixed period (although the product specifics will depend on the loan and lender).

Low Doc vs Full Doc

Full doc loans are generally cheaper than low doc loans, however if full financials are not available to you then you will need to select loans only from a range of products that are available to you as a borrower. Sometimes it is worth taking the time to complete your tax returns even if you are quite busy in your business – the home loan savings for a full doc home loan vs a low doc home loan can be significant.

Loan to Value Ratio

If you are a new homebuyer with a relatively low deposit, then in comparing home loans you will need to only take into account the lenders that offer high LVR loans. It does not matter to you that it is possible to have a loan at 6.65% if that loan requires 20% deposit and you only have 5%.

Redraw Facility

Perhaps you require to borrow the maximum possible out of your mortgage, and then pay some of the money back on the proviso that you can re-draw the available funds later for business, investment or any personal use. Loans with a redraw facility are sometimes marginally more expensive that a basic home loan. However having access to a redraw facility can possibly save you money or make your life easier down the track.

Offset Account

Having an offset account attached to your mortgage means that you can deposit all available income into your offset account and only pay interest on the amount actually outstanding. Offset accounts can save you a lot of money on your mortgage and having such an account can make a slightly more expensive loan significantly cheaper in the long run.

Comparison Rates

Remember to compare loan comparison rates not just the advertised rate. Comparison rates are the rates you will actually be paying after taking in to account loan fees etc. All lenders are legally required to offer borrowers information on the comparison rates of all the home loan products they have.

Remember, a little homework can go a long way towards saving money on your home loan.

Cheap Home Loans !