Last updated on 20th October 2017

How Half a Percent Could Save You $41,996.77 On Your Home Loan

New Comparison Site Allows Aussies to Compare Loans from 25 Providers

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New Comparison Site Allows Aussies to Compare Loans from 25 Providers

It’s hard to believe, but the difference a few percentage points can make on your mortgage is astronomical. For example, on a $500,000 loan, the difference between paying 4.5% on your home loan and paying 4% works out to a staggering $41,996.77 over the life of a standard 30 year loan.

That’s an extra $1679.88 that could be going into your pocket every single year.

And if you think your current interest rate is competitive, you might be in for a shock. According to Reserve Bank data provided by Assistant Governor Christopher Kent on 14 August 2017, the average advertised rate for a variable principal & interest loan is 5.2 percent, while the average rate paid is lower than 4.4 percent.

In other words, if you’re paying the ‘as seen on TV’ rate on your home loan, you could be overpaying by literally tens of thousands of dollars.

A new service makes it possible for home purchasers and home owners to avoid the pitfall of overpaying for home loans.  HomeLoansAustralia.com has already been used by consumers throughout Australia to save big money on their home mortgages. By using this online site to comparison shop, homeowners and home buyers are able to find not just the lowest interest rates but the best overall loans for their needs.

HomeLoansAustralia.com has made it simple and easy for consumers to make informed choices.  Site users are able to compare 100s of different loan products offered by more than 25 lenders.  In-house financial experts have estimated that many homeowners who have taken advantage of comparison shopping opportunities have seen their interest rates and monthly payments drop significantly.

Here’s How You Do It:

Step 1: Select your State below.
Step 2: After answering a few questions, you will have the opportunity to compare quotes in your area and could be eligible for significant savings.

Some homeowners have reported concerns about paperwork involved in a mortgage refinance or obtaining a new mortgage loan. Users of HomeLoansAustralia.com have been delighted to discover they do not have to deal with completing extended forms on their own. Expert advice provided face-to-face or over the phone is available from HomeLoansAustralia.com, and financial professionals working for HomeLoansAustralia are able to negotiate loan terms and complete paperwork for consumers. This allows for savvy shoppers to save both time and money.

Making a decision on a home loan does not have to be complex any more. The valuable new service provided by HomeLoansAustralia is revolutionizing the way in which homeowners find mortgage loans or refinance their homes.

Consumers interested in becoming one of the thousands who save big money using HomeLoansAustralia should visit the site or contact an in-house financial professional at HomeLoansAustralia.com today to begin taking advantage of the important money-saving service provided.  There are no obligations and use of the service is 100 percent cost free, even when consulting with financial professionals for personalized one-on-one assistance.

This article is opinion only and should not be taken as financial advice. Check with a financial professional before making any decisions.