Home Loan
Fixed and variable loan options
Loan term 6 months 30 years
Interest rate 4.99-7.5%
Home loans in Australia can be tailored for different needs, including owner-occupied properties, investment properties, and special support for first-time buyers through government grants.
Owner-Occupied Home Loans
An owner-occupied loan is designed for individuals purchasing a property to live in as their primary residence. These loans often come with lower interest rates compared to investment loans, as lenders view them as less risky. Borrowers can choose between variable or fixed interest rates, and repayment terms are flexible. Owner-occupied loans are suitable for families or individuals seeking stability and long-term residence.
Investment Property Loans
An investment loan is used to purchase property intended for rental income or capital growth. Since investment properties carry higher risk for lenders, interest rates are generally higher than owner-occupied loans. Borrowers may benefit from tax deductions on interest payments and property expenses, making these loans attractive for wealth-building strategies. However, investors must carefully manage cash flow and market risks.
First Home Buyer Grants in Australia
To support new entrants into the housing market, the Australian Government and states offer First Home Owner Grants (FHOG). For example, in Victoria, eligible buyers can receive $10,000 when purchasing or building a new home valued up to $750,000. However, it varies from State to State. Additionally, the federal Help to Buy Scheme allows the government to contribute up to 25% of the purchase price for new homes reducing the deposit and mortgage burden. These initiatives make homeownership more accessible, especially for young families, single parents, and essential workers.
Summary
- Owner-occupied loans: Lower rates, for primary residence.
- Investment loans: Different rates, tax benefits, for rental/wealth creation.
- First Home Buyer Grants: Financial support like FHOG and Help to Buy, easing entry into the property market.
- Packaged Loans: Option to get packaged loans for Owner occupied and investment property loan at same price.
Together, these options provide Australians with pathways to secure housing, build wealth, and achieve long-term financial stability
