Mortgage Broker Worongary
Seeking a Professional Mortgage Broker in Worongary, Look No Further Than Impact Lending Solutions.
For most of us, purchasing a home is one of the most crucial decisions we’ll ever have to make in life. The prospect of home ownership is extremely exciting but it can also be tremendously intimidating, as well. At Impact Accounting, our team of skilled Worongary mortgage brokers will supply you with everything you need to make a calculated decision.
Types of Home Loans available
In a fixed home loan, your mortgage repayments stay the same, irrespective of interest rate changes, for a specified duration, typically for the first 1-5 years.
Variable Rate Home Loan
Unlike a fixed home loan, a variable home loan’s interest rate fluctuates according to the rate set by the Reserve Bank of Australia. These are the most common Australian home loans.
A split home loan effectively allows the borrower to divide their loan into a fixed or variable loan, letting them choose which portion of the loan is to be governed by a fixed or variable interest rate.
With an interest only home loan, you’re only required to repay the interest on the loan, typically for the first 1-5 years. As you’re only paying off the interest during this time, the repayments are lower. Following this period, you will commence paying off the interest and principal.
Contact the Mortgage Broker Experts at Impact Lending
Every day, we help clients secure the very best home loans for their specific circumstances. Whether you’re a first time buyer looking to embrace the dream of home ownership or a prolific property owner, seeking to expand their investment portfolio, our team of experienced Worongary Mortgage Brokers can assist you. For more information, contact the friendly staff today, at Impact Lending.