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Your loan-to-value ratio (LVR) refers to the amount you need to borrow to buy a property, and it’s expressed as a percentage of the property’s value. Think of it like this – the smaller your deposit, the higher your LVR will be.
When you hear the name NRMA, you probably think of trusted insurance that Aussies have relied on for decades. But NRMA Insurance has now stepped into the home loan space, aiming to provide Aussie borrowers with the same reliability and value that has kept them a household name for over 90 years.
With home loan rates coming down following last month's RBA rate cut, there's never been a better time to compare how much you could save on your mortgage repayments.
When people apply for a home loan in Australia, they often go with one of the Big Four banks: ANZ, Commonwealth Bank, NAB or Westpac. But while these are household names, they don’t typically offer cheap home loans.
The Reserve Bank of Australia (RBA) maintains that its number one enemy is inflation. If inflation stays high, so will home loan interest rates. For households experiencing mortgage stress, a cut to the cash rate may see their variable rates reduced - which, for some, can't come soon enough.
The Commonwealth Bank dominates the mortgage market in Australia, and if you’re considering the major provider for your home loan, it’s worth looking at its online-only Digi Home Loan as it’s where you’ll find CommBank’s lowest variable interest rates.
The Reserve Bank’s interest rate cuts are fuelling strong market competition between the big banks, customer-owned alternatives and online-only lenders, which gives you plenty of choice when it comes to choosing a cheap home loan.
With Australia’s property market running hot, popular online-only lender Unloan has just dropped its investment home loan rates for the second time in the past month.
If you’ve ever sat down with a mortgage broker to discuss home loans, you might think you’re getting access to every great deal out there. But the truth is, not all lenders deal with mortgage brokers and that could leave you missing out on some seriously good deals and savings.
Unloan, the digital home loan lender, built by CommBank has once again come out triumphant in the Mozo Experts Choice Home Loan Awards, taking out an award for the third year in the Low Cost Home Loan Category.