Why a Home Loan Guide Matters
For most Australians, a home loan will be the largest financial commitment they ever make. With dozens of lenders and hundreds of products available, the choice can feel overwhelming. Many borrowers focus on the interest rate alone, but the reality is that a home loan is much more than a number. The right loan can save you thousands over time, while the wrong structure may create stress and limit your options.
This guide is designed to help you cut through the noise. Whether you’re a first home buyer, refinancing, or investing, we’ll walk you through the types of loans available, the features to consider, and the steps to make the process easier.
What Is a Home Loan?
A home loan, or mortgage, is money borrowed from a lender to purchase property. You repay the loan, plus interest, over an agreed term — usually 25 to 30 years. While that sounds straightforward, the details matter. Home loans come with different repayment options, features, and conditions, all of which affect how much you’ll pay over time.
Key Features That Can Save You Money
- Offset Account: A linked account that reduces the interest you pay by offsetting your loan balance.
Redraw Facility: Lets you access extra repayments you’ve made.
Extra Repayments: The ability to pay more than the minimum and shorten your loan term.
Flexible Terms: Options to switch between fixed and variable or restructure as your needs change.
These features can make a big difference to how quickly you pay off your loan and how much interest you save over the long term.
