Variable Rate Home Loan – 30+ Lenders

Variable Rate Home Loan

A variable rate home loan is a type of home loan in which the interest rate is not fixed. If you don’t fix your loan, your interest rate will move with changes to market interest rates. This means the interest rate can rise or fall over the term of your loan. As a result, your repayments will ‘vary’ as the rate changes.

Here are some advantages of a variable rate home loan:

  • You can make extra repayments –  Extra repayments are usually allowed at no extra cost, which can save you interest and help you pay off your loan sooner.
  • More features –  Variable loans often have attractive features such as unlimited redraws on any additional repayments or the ability to save on interest by setting up an offset account.
  • Easier to switch loans – It is usually easier and cheaper to switch loans if you find a better deal elsewhere if you have a variable rate home loan.

Here are some disadvantages of a variable rate loan:

  • Makes budgeting harder – It can be difficult to budget with certainty as loan repayments can increase when interest rates change.
  • Mortgage stress – If you aren’t prepared for a rate rise you may have trouble keeping up with repayments.

A variable rate home loan is a great way to take advantage of fluctuating market rates, meaning you could pay less overall than if you choose a fixed rate home loan.

Our mortgage brokers have specialised software that can quickly find and compare the variable 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

 

Home Loan 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

 

Easy Quick Quote

Finance:
Amount:
Name:
Email:
Phone: