Home| Book An Appointment| Client Log In| Contact Us

Types of Home Loans

Mortgage House has a home loan product to suit your needs. Below is a list and brief description of the various types of loans available which may assist you in picking a loan that is right for you.

Click on the Green home loan types (ie Fixed Rate Home Loans) to see a list of a full list of those mortgage products.

Fixed Rate Home Loans	A Fixed interest rate home loan is usually taken out for an agreed period of time between 1 and 10 years and when this ends you have the choice of fixing the rate again or switching to a variable interest rate. Your repayments will remain constant during the fixed term, regardless of any interest rate changes.

Variable Rate Home Loans	A Variable interest rate home loan is subject to changes in interest rates and the amount of your home loan repayment. If the interest rate rises or declines your repayment will follow.

Split Home Loans	A Split loan allows you to have a portion of your home loan with a fixed interest rate and the remaining portion with a variable interest rate. You have the option of selecting the percentage you would like fixed and variable, as long as the minimum fixed amount is covered, as per the individual home loan requirements.

Interest Only Home Loans	The interest portion of your home loan is paid each month whilst the principal remains at the full balance. The Interest Only period of the home loan is available for up to 10 years and may be extended upon application. After this time the home loan will revert to a principal and interest arrangement allowing the home loan to be paid in full.

Line Of Credit Home Loans	A Line of Credit allows you to borrow money up to a specified limit. The funds will be made available to you and you access them as required. A line of credit, generally arranged before the funds are actually required, provides flexibility for the customer in that it ensures the ability to meet short-term cash needs as they arise.

Low Doc Home Loans	A Low Doc home loan is short for a low documentation home loan and is suitable for the self employed or people who are unable to provide full financial statements and other evidence of their income.


Construction Home Loans	A Construction loan uses the funds to build a new dwelling or property and generally involves draw down payments where you receive the funds in instalments after a body of construction work is complete (ie, foundations have been laid).

Introductory Rate Home Loan	The Introductory Rate home loan (also known as a Honeymoon rate) has a short period, normally 6, months where the variable interest rate is reduced.
Bridging Home Loans	A Bridging loan is a type of short-term loan typically used when in the process of selling one property and purchasing the next or when waiting for the arrangement of longer term finance.
Seniors Equity Release Loan	The Seniors Equity Release home loan (also known as a Reverse Mortgage) is suitable for people aged 60 or over, who own their own home and would like to access the equity in their home as cash.