A packaged home loan most likely comes with an annual fee, which gives you access to a discounted rate for the life of the loan, use of a 100% off set account, credit card, and no account keeping fees on other accounts. Pricing of the interest rates are based on loan amounts, and equity in your property.

A Fixed Rate Home Loan, is just what it is. By choosing a fixed rate home loan, the loan is set at a rate in which will not fall or rise during that period. When selecting this type of home loan, we strongly suggest to look at the benefits and your future requirements. The penalties to exit early out of a fixed rate home loan, can be in the thousands. You also have restrictions on the amount you pay back on an annual basis.

The Basic Home Loan is what it says it is. A cheap, no frills loan. These loans are popular for first home buyers, with a cheap variable rate, an application fee and free redraw. Normally, you are not charged a monthly fee on this product.

The Relocation Loan is perfect if you are wanting to secure your new purchase, without putting a subject to sale clause on your contract. This can be done for an established home, which allows you 6 months to sell your existing property, and for construction, which allows 12 months. You will have to meet requirements of the bank for this loan to proceed, but is a very good option.