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

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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 .

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Your Personalised Borrowing Snapshot*

Based on the information you entered at an example interest rate of 3.59% p.a over 30 years*.

You could borrow up to


Monthly repayments


loan amount $800k

This report acts as a guide in determining your borrowing capacity and estimated
home loan repayments based on an example interest rate.

What happens next?

  1. A Rate Comparison Mortgage Adviser will review the information you’ve submitted to us and research available loan products.
  2. Your Rate Comparison Mortgage Adviser will give you a ring to talk through your specific objectives and fine tune our product search.
  3. We’ll provide you with a range of lender and loan product options to compare, and how this fits in with your strategy and requirements.
  4. Depending on which lender you choose to apply with, we will allocate a lender or mortgage broker to assist with completion of your loan application, collection of required documents, and we’ll do the rest of the work to get your loan approved!

Home Buying FAQs

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.

How much do I need for a deposit?

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.

What home loan types are available?

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.

What is a base-rate home loan?

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.

What type of home loan should I be looking for?

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.

What type of home loan features are available?

Home loan features give you 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.
How much do I need for fees, charges and stamp duty?

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.

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The information on this Website is provided for information purposes, general interest and enquiry only. It has been prepared without taking into account your objectives, financial situation or particular needs and it should not be taken as financial advice. All comparisons are prepared by Direct Property Network (ABN 44 023 361 281 Australian Credit Licence 383530). While we use reasonable efforts to ensure that the information on this Website is complete and up to date, to the extent permitted by law, we make no warranty or representation as to the accuracy, currency or completeness of any information on this Website.

The use of this Website is at your own risk. Information may change without notice. Before relying on any information on this Website, you should first verify the accuracy of the information and its relevance. This may mean contacting a finance broker before relying on any information on this Website.

To the extent permitted by law, we exclude all other warranties, guarantees, terms and conditions (whether express, implied or statutory) relating in any way to this Website, its content or its use. Our liability for breach of any warranty, guarantee, term or condition implied into these Terms which cannot be excluded is limited, where permitted by law, to the re-supply of that part of this Website again or, at our option, the payment of the costs of having an equivalent service supplied again.

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