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Get Started For Your FREE Consultation with a Rate Comparison Loan Expert

Are you looking to purchase a property or refinance an existing one?

Purchasing
Refinancing

Is this an owner occupied or investment property?

Investment Property
Owner Occupied

What is the estimated value of the property you would like to refinance?

Where is this property located?

How much do you still have owing on your mortgage?

$50K
$2M+

What are your total available funds?

This includes savings, cash in term deposits, and shares.

$0
$1M+

What's your household gross (i.e. pre-tax) annual income?

$0
$300K+

Before we can provide your personalised borrowing power report, we'll need to grab few more details.

Enter your contact details to receive your personalised home loan consultation and to find out your:
  • Your borrowing power
  • Your Interest & Comparison Rate
  • Number of Qualified Lenders
  • Your Loan Repayment amount
All cost and obligation free!
10%

Find your best rate with our Free Borrowing Power Report.

Simple complete your details in the tool above and you’ll discover your:

  • Lifetime mortgage savings
  • Best rate estimate
  • Monthly repayments

Overwhelmed by your mortgage? You’re not the only one. At RateComparison, our home loan specialists can help you narrow down your choices and find you a home loan that suits your situation.

Whether you’re looking for the best rate or you want to maximise your borrowing power, our comprehensive home loan tool will help you achieve your goals. Enquire today - it’s all cost and obligation free!

{{ lead.firstname }}'s Home Loan Report

{{ lead.price }}
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Owner Occupied
3.75%
$100,000

Enter your current mortgage rate.

We'll show you how much you can save!
POTENTIAL
BORROWING CAPACITY $0

Will contact you to verify your borrowing capacity as this may vary

INITIAL FUNDS
Property Value: ${{ lead.price }}
Stamp Duty: $27,311
Upfront Fees: $2,117
Deposit of 10%: $70,000
Total Initial Funds Required:  
YOUR FUNDS AVAILABLE ${{ lead.fundsAvailable|number_format }}

REQUIRED LOAN ?

$600,000

Click Here for Important Information

Can't wait to start saving? Take this next step. Apply Now
Term of Loan
You can adjust your loan term by clicking and dragging to the right number.
Disclaimer: This results page is indicative only. It does not constitute an offer of credit. A full lender credit assessment is required prior to any commitment being made on behalf of a lender or Ratecomparison to extend credit. You are recommended to obtain legal advice before entering into any credit arrangement. Conditions fees and charges will apply. Interest rates quoted are subject to change without notice. Should you have any queries or concerns please contact Ratecomparison 1300 190 429.
What Happens Next?
  1. 1
    We'll put together home loan quotes from multiple providers based on your details and desired loan amount.
  2. 2
    Once we've compiled your quotes, we'll email them out and give you a ring to talk things through over the phone.
  3. 3
    You might have some questions or want to adjust your loan requirements up or down, and that's totally ok with us. We'll work with you to find a policy that perfectly suits your needs and budget.
  4. 4
    Once you've settled on a loan, we'll arrange everything on your behalf. We'll handle the paperwork and liase with the relevant lender, keeping you in the loop at every step of the process.

Buying a home is often an exciting experience. But, if you don’t understand the process and the mortgage industry, then it can also be daunting and even a little scary. In order to help you avoid some common mistakes that first home buyers make, we’ve answered some of the most frequently asked questions.


Q :

How much do I need for a deposit?

A :

You’ll need a minimum deposit of 10 percent of the purchase price of a property to take out a home loan. But, it is more cost effective for you if you have a 20 percent deposit as this gives you more equity in your property and means less risk for your lender. This, in turn, can reduce the amount of interest that you’ll pay on your home loan.

Plus, if you only have a 10 percent deposit, you may find that you’ll be asked to pay Lenders Mortgage Insurance (LMI), which is costly and can add thousands to your home loan principle. This insurance covers the lender against financial loss should you default on your home loan payments.

Q :

What home loan types are available?

A :

There are numerous types of home loans in the industry. The most common are as follows:

Principal and interest: This is where you pay a portion of your home loan principle and the interest that your loan incurs monthly.

Interest only: This is where you only pay the interest on your home loan per month. At the end of your home loan you’ll pay back the principal you borrowed.

Variable rate: A home loan that has a rate that fluctuates with the rise and fall of the official cash rate.

Fixed rate: A home loan that has a fixed rate for an agreed term of usually 1, 2, 3 or 5 years. After the term ends the rate of the loan will revert to a variable rate.

Q :

What is a base-rate home loan?

A :

This is a no-frills variable home loan that will give you the lowest possible rate. But, this home loan typically comes with no features.

Q :

What type of home loan should I be looking for?

A :

The right home loan for you is the home loan that meets your needs and requirements, which gives you flexibility and is affordable. To find the right home loan, consider what home loan features you’ll use and what type of home loan you want. Then compare these home loans for the best rate.

Q :

What type of home loan features are available?

A :

Home loan features give you greater payment flexibility, but typically the interest rate on home loans with features are slightly higher. The most common features you’ll encounter are:

  • Extra repayments without incurring a penalty.
  • Offset accounts, where you can deposit all of your money into this account and the balance will then reduce your mortgage interest.
  • A redraw facility, where any extra money paid off your home loan can be used at a later date as a loan if you need it.
Q :

How much do I need for fees, charges and stamp duty?

A :

All lenders charge different fees, so you’ll need to ask about these when you research home loans. Make sure you also ask about any other additional charges.

Stamp duty depends on the value of the property you’re buying and what state the property is situated in. To calculate your stamp duty use an online calculator.

James Green
Meet James!

As General Manager, James manages our fast growing broker team and is responsible for making sure we always bring you the best home loan deal. Coming from an impressive background of directing home loan businesses across multiple real estate entities, James is changing RateComparison from the inside out and pushing the boundaries of finance and tech.