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HOME LOAN
A home loan is a loan secured by equity value in the borrower's home.
Loan - The temporary provision of money (usually at interest).
CONSUMER CREDIT
A line of credit extended for personal or household use.
HOME LOANS AUSTRALIA (own your own home)
For as long as I can remeber it has been every Australians dream to own their own home, this is usualy facilitated by taking out a home loan to finance the house purchase.
Purchasing a home is a great investment as well as the comfort and security for you and/or your family.
There are many financial institutions that will lend money for home loans, some are finance franchises as well as the more common credit unions, and of course, banks.
Home loans can vary greatly, in the home loan amount offered or agreed upon, the length of the home loan as well as the terms and conditions over the life of the home loan period.
What type of home loan that you opt for or that you and your chosen financial institution agree upon will depend on a number of factors, such as how long you agree to, or how fast you pay off the home loan. If you pay more off your home loan faster then you may save money on your total home loan, if you pay less up front then you will pay off your home loan over a much longer period. This may be what you chose to do if it makes the home loan affordable for you to obtain and maintain financially. Should your financial situation change down the track, you may be able to change the terms of your home loan or do a home loan refinance.
The following home loan vendors are shown as an example of some of the financial institutions that offer home loans or are home loan brokers:
(the following is for info only, check with the vendors for current figures)
ING Direct - Mortgage Simplifier
If you're buying a home, refinancing, or securing an investment property,
the Mortgage Simplifier is an alternative to complicated home loans.
Plus, it offers all the features you are looking for in a mortgage:
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  Low variable interest rate |
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No ongoing fees |
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Free redraw facility |
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$499 application fee waived when you apply by phone, mail or internet |
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One person to help you from application to settlement |
St. George Bank - St. George Home Loans
Buying a home? Building your dream living space? Renovating or extending? Investing in property?
St.George has the widest range of home loans of any bank in Australia, so there's sure to be one that is right for you. View the table below for some of our most popular home loans that have a variety of features and rates, giving you the power of choice.
| Portfolio Loan |
Our market leading line of credit that helps you pay off your home faster and utilise the equity in your home to invest in other assets |
| Standard Variable Rate Home Loan |
A home loan that offers you complete repayment flexibility and a full range of features and benefits |
| Fixed Rate Home Loan |
Have repayment certainty with a 1 to 5 year fixed rate |
| Introductory Rate Home Loan |
A home loan with a low introductory rate that also has flexible features and benefits |
| Family Pledge Home Loan Option |
Your family can guarantee part of your home loan, while having the peace of mind to set the guaranteed amount. |
+ Widest range of home loans per infochoice.com.au as at 22 April 2005
Mortgage Choice Australia
For most people, buying a property is the biggest investment they will make in their lives. And selecting a suitable mortgage product in Australia’s increasingly complex market is an important, though not always easy, decision. That’s why more than 100,000 customers have chosen to use the services of Mortgage Choice.
Formed in Sydney in 1992, Mortgage Choice has grown to be Australia’s leading mortgage broker and is the only pure-play (specialist) mortgage broker listed on the Australian Stock Exchange - ASX symbol: MOC.
Mortgage Choice provides professional home loan advice on, and choice of, over 300 residential home loan products offered by a panel of 28 of Australia's leading lenders and its accredited loan consultants do not charge for the service.
Mortgage Choice does not sell its own home loan products, and its consultants are paid exactly the same commission regardless of the lender or product the borrower chooses.
Mortgage Choice's loan book is now worth in excess of $20 billion. Through its national network of over 400 franchises and over 570 loan consultants, Mortgage Choice writes almost 1 in every 20 Australian residential property loans.
Recent awards won by Mortgage Choice include:
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2005 Australian Mortgage Awards Best Branding
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2005 Australian Mortgage Awards Most Effective Internet Presence
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2005 Mortgage Industry Association of Australia Awards Originator of the Year [30+]
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2005 & 2004 Australian Banking and Finance Magazine Awards Best Mortgage Broker
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2004 Australian Mortgage Awards Franchise Operation of the Year
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2004 BRW Fast 100 and Fast and Lasting member
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