Home Loans
A home loan, also called a mortgage, is a financial agreement between a lender and a borrower, where the lender provides funds to purchase or refinance a property. The property itself serves as a security for the loan. Key components of a home loan include:
- The loan amount
- Interest rate
- Loan term (typically 30-40 years).
- The value of the property used as security
When Do You Need a Home Loan?
- Buying an Established Property
- Purchasing Off-the-Plan
- Construction Loans
- Refinancing Your Home Loan
Types of Home Loans by Purpose
Owner-Occupied Home Loans
These loans are for properties intended as your primary residence. They generally have lower interest rates compared to investment loans.
First Home Buyer Loans
First-home buyers can access various government incentives, such as grants and deposit schemes, designed to promote homeownership.
Investment Home Loans
These loans are tailored for purchasing or refinancing investment properties. Interest and associated costs may be tax-deductible.
Doctors & Medical Professionals qualify for no LMI at 90%
Many lenders offer 90% no-LMI doctor mortgages, helping eligible medical professionals save thousands and buy sooner with just a 10% deposit. If you’re a GP, specialist, dentist or allied health professional, you may qualify for exclusive mortgage products, higher borrowing power and discounted rates.
👉 Learn more about specialist mortgages for doctors – including eligibility, professions covered and how to access a 90% LVR mortgage doctor policy – on our dedicated page: Home Loans for Doctors