Peter Dunn Finance
Investment Loans, Loan Calculators, Property Loans
Variable Rate Home Loan:
Generally the most flexible of all loan types, the Variable rate allows additional repayments, redraw and offset facilities.
Variable rate products vary in flexibility with the Basic Variable rate home loan generally offering less flexibility than the Standard Variable Rate home loan.
The rate is variable and traditionally moves in line with changes to interest rates as determined by the Reserve Bank.
– as interest rates decrease, the interest component of your repayment amount may decrease
– flexibility to make additional loan repayments
– redraw facility on surplus funds from additional loan repayments
– as interest rates increase, repayment amounts increase
Variable Rate Fixed Home Loan:
A fixed rate loan has a fixed interest rate for a term of the loan. Fixed terms generally range from 12 months through to 10 years. Whilst the fixed rate home loan is more restrictive than a variable rate loan, it provides you with the comfort that your repayments will not change during the fixed term of the loan
– repayments do not increase if interest rates increase
– allows you to budget repayments as they are fixed for the agreed fixed term
– offers peace of mind that repayments remain the same for the agreed fixed term
– additional repayments may be limited if not unavailable
– fees may apply if loan is paid out during the fixed rate period as interest rates decrease, the rate remains fixed and does not decrease
A Combination or Split Home Loan enables you to take advantage of the best features of both a Variable Rate home loan and a Fixed Rate home loan by splitting your requirements.
For more information visit my website: http://www.peterdunnfinance.com/
Or call us today on: 0427 947 480
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These types of loans require less documentation than do standard home loan offerings.
This type of loan is an interest only variable rate home loan based around the equity you have in your property.
If you own an existing property and are looking to purchase an established home or constructing a new home, the Home to Home loan is an option.
Canning Vale, WA, 6155,Australia
Main: 0427 947 480
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