Whatever you’re looking for Mortgage House has a solution. Our home loans are the perfect fit for buying your first or that next dream home, constructing a property, refinancing, purchasing an investment property or if you are just looking at consolidating your loans.
A loan in which both the principal and the interest are repaid over the term of the loan. Amortisation or amortising is another word for these loans that are gradually being paid off over a set period of time (the loan term). P&I can also be the abbreviation term for Principal & Interest.
Money IN - Allows you to make additional repayments without penalty.
Money IN - A direct debit is an automatic payment that is set up to repay your home loan.
Money IN - A manual payment to a loan account either via internet transfer or employee payroll transfer.
Money IN - The ability for an external party to pay directly into a borrower's loan account.
Money IN - A card used at the post office to deposit your repayments (they can be your normal repayments that are due or additional repayments).
Money IN - The ability to pay your loan via a unique biller code from another financial institution.
A non-interest earning account where 100% of the balance is offset against the home loan to reduce the total interest payable.
No Monthly Fees
No Package Fee (excluding Stretch Feature)
No fee to pay each & every year.
No Rate Lock Fee
Stretch Package Feature
Low Deposit Option
Repayment Sweep of Credit Card
Money OUT - Allows your loan to automatically clear your credit card linked to this loan back to zero each month.
The access via the internet to view & administer your home loan.
The access via the phone to administer your home loan.
ATM / EFTPOS Debit Card
Money OUT - An ATM card is included on this loan in order for you to withdraw cash or make purchases for living purposes.
3rd Party Direct Debits
Money OUT - You can pass your loan account number & BSB to another financial institution in order to take money periodically from your home loan account.
Each repayment cycle (normally monthly) a repayment must be made, regardless if you have redraw available in the loan account.
LMI Premium Capitalisation
3rd Party Protocol Friendly
Money IN and Money OUT - A payment made to a loan account or an amount taken from a loan account either via internet transfer, employee payroll transfer or by an external party
You can switch you loans variable interest rate to a fixed interest rate (subject to the terms and conditions of your loan).
Up to 40 Year Loan Term
Up to 30 Year Loan Term
Up to 25 Year Loan Term
A deposit bond acts as a substitute for the cash deposit in between signing a contract and settlement and can be issued for all or part of the deposit amount required, up to 10% of the purchase price. At settlement, the purchaser is required to pay the full purchase price including the deposit.
Money OUT - The ability to pay your loan via a unique biller code to another financial institution.
No LMI Premium Payable By Borrower
Mortgage Insurance not Required
A feature that enables a home loan to be transferred from one property to another, without refinancing. It can be of benefit by savings on loan set-up fees and government loan security duty.
Book a time that’s convenient for you and one of our loan specialists will give you a call
How can I compare home loans?
Being able to clearly compare home loans is an important resource to have when finding a suitable mortgage for your property goals. With so many mortgage companies and so many mortgages in the market today, a concise and useful comparison tool can be invaluable. At Mortgage House we want our customers to be armed with as much information as possible. We want to give you all the resources they need to make the best decisions they can. One way we do that is by providing you with an easy-to-follow mortgage comparison resource. One of our key aims is a continued focus on being competitive with our rates, offering diversity with our products and providing a level of customer service simply unheard of in the industry. The first step in comparing home loans is to show how we back that up with actions. Whatever you are looking for, Mortgage House has a solution and we are happy to show you how our loans compare with the other major lenders. We know our home loans are the perfect fit for buying your first, or that next, dream home, constructing a property, refinancing, purchasing an investment property or if you are just looking at consolidating your loans.
While comparing home loans against other lenders is an important step in finding the loan you want, being able to compare Mortgage House mortgages is also important. Our home loan comparison tool allows you to do that easily. This resource tool means you can compare five Mortgage House loans at a time, next to each other and in detail. Being able to compare in detail is important. Access to as much information as possible, all with total transparency, is important and a key Mortgage House value. When you compare Mortgage House loans, you will see, laid out in front of you, the features of each loan, what the fee structures are and what purposes you can use each loan for. You will also be able to compare each loan’s repayment options, interest rates and comparison rates and minimum and maximum loan sizes. Importantly, you can also compare each mortgage’s Loan-to-Value Ratio, which is the proportion of money you can borrow compared to the value of the property. These can vary significantly across our entire mortgage range.
One of the key features of comparing loans is being able to compare loan repayments. At the end of the day, the size of the repayments each week, fortnight or month is one of the main reasons people choose a particular loan. Being able to see those options alongside each other is important. So is knowing whether or not you can make extra repayments on your loan. Some types of mortgages can penalise you if you make extra repayments, and there are often extra fees involved if you pay out your loan early. Having all that information at your fingertips from the start means there are no surprises down the track. Being able to make extra repayments can save you money in the long run. Paying off your loan early can save you a lot of interest. If you make extra loan repayments, you may be able to access those repayments for other purposes if needed. Some loans have what’s called a redraw facility. A redraw facility means you can draw back, or withdraw, any extra repayments or lump sum payments you make over the life of your loan. You can use our comparison tool to see what loans include a redraw facility.
You may notice that whenever a mortgage interest rate is advertised, a comparison rate is alongside. Banks and lenders are required by law to advertise comparison rates for every loan. Comparison rates are a way of incorporating any fees and charges you might come across during the life of your loan. It is not a perfect tool, but it can give you a good indication, and allow for a quick analysis. A higher difference between an advertised interest rate and a comparison rate usually means you could encounter more fees and charges along the way. They are also an important way to stop unscrupulous lenders from advertising low interest rates, only to hit customers with exorbitant fees and charges later on.
Clearly one of the big reasons to compare our mortgages is to compare interest rates. There are two types of interest rate loans – fixed and variable. With variable mortgages your interest rate can change – up or down – over the life of your loan. Those changes are influenced by both external and internal factors, the biggest one being movements in the official cash rate by the Reserve Bank.
Internally, the cost of providing you with your loan may change over time. Fixed rate loans are just that – your interest rate is fixed for an agreed period, usually between 1 and 10 years. There are benefits in choosing either a fixed or variable rate loan, and speaking with our experienced lenders can help you decide what the suitable option is for you. In the meantime, you can compare fixed loans and variable loans side by side on our comparison page.
Why Choose Mortgage House?
We're one of Australia's most awarded non-bank lenders
We've helped Aussies achieve homeownership since 1986
Expert lenders who'll get you there without the mortgage jargon
Our innovative online services will save you time & effort
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