Types of home loan payments Two common types of home loan payments are principal & interest and interest only. The most popular by far is principal & interest so we’ll look at that first: Principal & interest payments- As the name suggests each time you make a payment to your home loan part pays down the […]
Which home loan should I have?
Interest Rate Cut
How much interest rate cut did you receive? Last Tuesday the Reserve Bank(RBA) reduced the official cash rate by 0.25%. In times gone past, this would have automatically meant an interest rate cut on your home loan of the same amount. Not anymore. Over recent years banks and lenders have actively trained us to expect […]
Variable vs fixed rate home loan
Variable vs Fixed interest rate home loan I thought it timely to revisit this often discussed topic given current low home loan interest rates. Both types of loans have their advantages and disadvantages. The interest rate of a variable rate loan will go up and down based on changes in the Reserve Bank cash rate […]