04 Jan 2022

What is the Best Home Loan Rate in Australia?

In Australia, well-qualified homebuyers can obtain interest rates as low as 1.54%. The rate also takes into account other factors. Conventional loans require full financial documentation and a 20% down payment. The lower the loan to value ratio, the less risk the homebuyer poses.

Sometimes the best home loan rate is the one that helps the homebuyer become a homeowner. Mortgage House offers several loans with competitive rates such as the:

  • Affordable First Home Buyer Special
  • Advantage Standard Home Loan 60
  • Essentials Low Rate Home Loan

The loans have a variable interest rate that starts at 1.99%. Mortgage House also offers fixed-rate mortgages that start at 2.29%. 

One way to obtain competitive interest rates is to provide a 20% down payment. Another is to bring a guarantor into the fold. A guarantor increases the applicant’s borrowing capacity. Since the guarantor provides collateral, the applicant can also borrow up to 110% of the property’s value.

Mortgage House provides several online tools for homebuyers that have no strings attached. Our mortgage calculator allows you to see the best rate you can obtain for your financial circumstances. Using our calculators is a great way to prepare for the application process too. 

Best Home Loan Rate Conclusion

All homebuyers hope to obtain the best home loan rate. In some cases, it’s better to accept the mortgage terms that help you become a homeowner. Keep in mind that you can refinance the mortgage to garner better loan terms down the road. For more information, contact our Mortgage House loan specialists.

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