Wide Variety of Options
Types of Home Loans
Variable Rate Home Loans
A variable rate home loan means that your repayments may change based on whether the interest rate increases or decreases due to changes in the cash rate set by the Reserve Bank.
Variable home loans are suitable for borrowers who prefer flexibility, allowing them to make additional repayments. They should also be comfortable with the possibility of their interest rate fluctuating throughout the loan term.
Fixed Rate Home Loan
A fixed rate means your loan repayments stay the same for a set period (usually 1 – 5 years). When that time ends, you can choose to renew your loan at a new rate or switch to a variable rate. The benefit of a fixed rate home loan is that it makes budgeting easier since your rate and repayments won’t change during the fixed term. However, the downside is that you won’t benefit from rate drops while on the fixed term, but you are also protected from rate increases. Fixed rate home loans may offer less flexibility for making extra repayments to pay off your loan faster.
Split Rate Home Loans
A split rate home loan is when your lender divides your home loan into two parts: one with an interest rate that can change, and another with an interest rate that stays the same. This loan option is popular because it lets you make extra payments and withdraw money from the flexible part of the loan. It also protects you from rising interest rates and uncertainty in budgeting by keeping a portion of the loan at a fixed interest rate.
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Why Shelter Capital?
ACCESS TO A WIDE RANGE OF LENDERS
We have in-depth knowledge of the lending market and can help you navigate through various loan options from multiple lenders.
TIME AND EFFORT SAVINGS
Comparing loans from multiple lenders can be a time-consuming and overwhelming task. We as mortgage brokers streamline this process by doing the legwork for you.
PERSONALISED GUIDANCE AND SUPPORT
We take the time to understand your financial goals, assess your borrowing capacity and guide you towards the loan options that align with your needs.
FINANCIAL SAVINGS AND BETTER LOAN TERMS
Our mortgage brokers have the knowledge and experience to help you secure favourable loan terms, including competitive interest rates and lower fees.
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Are You Ready To Buy A Home?
Did you know that smaller lenders offer some of the most reasonable rates for home loans?
At Shelter Capital, we help you find affordable home loans that meet your needs. We compare thousands of loans from over 50 banks and lenders to make the process easy and positive for you.
To learn more about our home loan options and how we can assist you, contact us using the form provided below or call us today!