Home loan repayments: interest-only vs principal and interest

There are two types of home loan repayment options: principal and interest (P&I), and interest-only (IO).

What is a loan-to-value ratio? How to calculate LVR

In home loans, a loan-to-value ratio (LVR) is the amount you’re borrowing, expressed as a percentage of the value of the property you’re buying. For example, 80% LVR means you’re borrowing 80% of the value of a property.

Can I get a home loan without a deposit?

Getting a home loan approved without a deposit isn’t common in Australia, unless you have a guarantor. A guarantor is usually a family member who offers equity in their own property as additional security for your new home loan.

What is an offset account, and how much could it save you?

You can’t overlook a home loan with an offset account if you want to save money. Not only can offsets shrink your monthly repayments, but they can slash the amount of interest you pay over the long term if you play your cards right.

Lenders mortgage insurance: What is it and how is it calculated?

Saving for a home loan deposit can be seriously challenging in today’s market, so what happens if you’re struggling to meet the recommended 20% of the property’s value?

Types of home loans in Australia

In Australia, there are plenty of different home loans available to cater to different borrowers. Below, we break down the main types of home loans out there to help you find the one that suits your financial situation.

Low doc home loans - a guide for the self employed

If you're a freelancer, self-employed worker, small business owner or contract worker, getting a standard home loan can be difficult when you don’t have proof of salary documents like payslips or group certificates. This is where a low doc home loan comes in.

Home loan terms explained

Taking out a home loan to purchase a property can be exciting, but what can often dampen your enthusiasm is all the complicated home loan jargon that gets thrown around in the process.

Line of credit home loans

Have you built up some equity in your home through extra repayments or your property has appreciated in value? Then you could be eligible for a line of credit loan that allows you to draw on a portion of that amount to fund things like an upcoming renovation or new family car.

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Home loan resources

Home loan features guides