Fixed Rate Home Loan – 30+ Lenders

Fixed Rate Home Loan

A fixed rate home loan has an interest rate that is fixed for a set period of time – often 1, 3 or 5 years. At the end of the fixed rate term, the loan will usually switch to the standard variable rate offered by the lender.

Here are some advantages of fixing your home loan:

  • Makes budgeting easier – You know exactly what you’re repayments will be, so you can plan ahead and set financial goals with confidence.
  • Rate rises won’t affect you – If interest rates rise above your fixed rate, you will be happy knowing you are paying less than the variable rate.

But there are some disadvantages with fixing your loan:

  • Rate drops won’t apply to you – You won’t benefit from a drop in interest rates if your fixed rate is more than the variable rate.
  • Limits on extra repayments – Additional loan repayments are often not allowed with fixed rate loans or repayments may be capped at a low amount or only permitted with a fee.
  • Do you need to redraw? – A redraw facility may not be offered on a fixed rate loan.
  • Break fees – Fixed rate loans may have a break fee if you change or pay off your loan within the fixed rate period.

This kind of loan may not be suitable if you are thinking about selling your home or want the freedom to switch home loans if you find a better deal.

Our mortgage brokers have specialised software that can quickly find and compare the fixed rate mortgages.

Please call us on 02 9453 0300 or enquire online and we will complete a needs analysis, work out which lenders you qualify with and give you several options to choose from.

 

Our Home Loan Lenders

 

30+ Australian Lenders Residential Mortgage Finance

 

Contact us now to source the best Residential mortgage finance available from our 30+ lenders.

Go to our Home Loans Page for other mortgage options.

 

Our award-winning mortgage brokers will find you the right home loan

 

2017

Winner Australian Broking Awards Boutique Aggregator of the Year

Finalist Australian Mortgage Awards Finalist Aggregator of the Year

Finalist Australian Broking Awards Boutique Aggregator of the Year

Finalist MFAA National Excellence Awards

2016

Winner Australian Broking Awards Boutique Aggregator of the Year

Finalist Australian Broking Awards Boutique Aggregator of the Year

Finalist Australian Mortgage Awards Finalist Aggregator of the Year

 

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