Finding the right home loan

A home loan is a long-term commitment. That’s why finding the right loan is important. Your situation may change, so you need a loan with the flexibility to change with you. When deciding on a home loan, you will need to consider a number of factors.

What are your home loan priorities?

The first step in finding the right home loan is to understand what is important to you. Here’s some questions to get you thinking about your home loan needs.

1. Fixed versus variable interest rates?

• Do you prefer certainty or flexibility?
• Would you prefer to know exactly what your repayments will be or are you comfortable with your repayments varying according to interest rate movements?
• Would you prefer a combination of fixed and variable interest rates?
• Do you want the flexibility to make additional repayments without penalty?

2. How important is flexibility?

• Do you want access to a 100% offset facility that allows any funds you have in the facility to reduce the interest you pay on your home loan?
• Is a redraw facility important?
• Do you require sub-accounts?
• Would you prefer to make your repayments by direct debit or salary credit?
• Do you intend to use the funds you build up in your home loan for other purposes or do you want to pay of your loan as soon as possible?
• Do you want the flexibility to increase or change your loan in the future – and even take it with you when you move home again?

With these questions in mind, consider what’s important to you.

To learn about the range of Macquarie Bank Mortgage Solutions, view our home loans or contact us for more information.