Home Loans | Mortgage Choice Brokers in Cronulla

Start your home loan journey today

Home Loans with your local Mortgage Choice Brokers in Cronulla

We understand that buying a property is one of the biggest decisions you’ll make, and it’s easy to feel overwhelmed by the options. As your Mortgage Choice brokers in Cronulla, Burraneer, and Caringbah, we’re here to guide you through the home loan process with ease.

We offer a range of home loan options to suit your needs, and with access to over 35 different lenders, we are confident that we'll find a solution that's right for you.

Contact our team this week to discuss your options, secure financing, or chat about your future plans.

Understanding the different types of home loans

We know that choosing the right home loan is one of the most important decisions you’ll make when buying or refinancing a property. That's why our team will be there every step of the way to guide you through the loan process. To help you decide, we've provided information below about the different types of home loans available.

Variable-rate home loans

Variable-rate home loans are interest rates that fluctuate based on the Reserve Bank of Australia's cash rate. These loans offer flexibility, often including features like redraw facilities and the ability to make extra repayments. This flexibility can save you money when interest rates are low, but you should be prepared for the possibility of higher repayments if rates increase.

Fixed-rate home loans

Fixed rate loans allow you to lock in an interest rate for a set period, typically between one and five years. This provides the certainty of consistent repayments during the fixed term, which is helpful for budgeting and protecting yourself from potential interest rate hikes. However, fixed rate loans often come with restrictions on extra repayments and redraw options, and breaking the loan early can incur fees.

Split home loans

A split loan offers the best of both worlds by dividing your loan into fixed and variable portions. This allows you to enjoy the stability of a fixed rate on part of your loan while benefiting from the flexibility of a variable rate on the other. While this can help balance the risks associated with interest rate changes, managing a split loan can be more complex.

Low Doc home loans

Low documentation (low doc) loans are designed for self-employed individuals or those without standard income documentation. These loans require less paperwork and offer a viable option for borrowers with non-traditional income verification. However, they typically come with higher interest rates due to the perceived risk and may have fewer lenders offering them, reducing your range of choices.

Bridging loans

Bridging loans provide temporary financing for those buying a new property before selling their existing one. These loans allow you to purchase a new home without waiting for your current property to sell. However, bridging loans often come with higher interest rates and strict terms.

To learn more about the home loan options available to you, book an appointment with our team.

Free property resources from your Mortgage Choice Brokers in Cronulla

Check out our range of free property resources to help you gain insights into the various home loan options.

Home Loans | Mortgage Choice Brokers in Cronulla

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