Interest Only Loans

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house3If you’re a homebuyer looking to finance a new property or those much-needed renovations, you might think about taking out a tailored home-loan with the flexibility to use the healthy nest-egg already behind you to slash the cost of your mortgage repayments.

The interest-only loan

This option known as the interest-only home loan provides you with a bridging mechanism that frees you from the costly expense of paying interest on the principal sum.

With the principal due at the duration of the loan (usually two to five years) the recipient of the loan can use the savings to pursue other high-return acquisitions or put the difference towards that much needed holiday.

Who is this interest only loan suitable for?

If you want to defer the cost of a property acquisition to a later date, the interest-only loan is the ideal instrument to snap up that real-estate bargain without being extorted into a mortgage that costs an arm and a leg. The interest-only loan offers the borrower the ideal opportunity to put their assets to work servicing their own future growth and enjoyment, rather than servicing the hefty repayment load of the requisite mortgagee.

So if you are tired of being encumbered with high repayments and don’t want to see your hard-earned cash tied up in needless debt installments, why not visit the eChoice to find the interest-only loan that is suitable for you. While you are there, check out the easy to use mortgage calculator and compare the interest-only loan with other eChoice home loans.

Is interest only the way to go?

Interest only loans may be the best option for some clients. The differ from standard variable rate loans in several respects. While standard variable loans are easily the most use mortgage product in Australia, some potential homeowners may benefit from Interest only loans instead. The reason why standard variable rate loans are so popular is […]

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What’s the difference between a normal home loan and interest only home loan?

When it comes to finding the right loan that fits your budget and circumstances you have to consider everything about the loan. You should assess the amount of the loan, the features and benefits that you could get from the loan, the rate of the loan including both the comparison rate and the interest rate, […]

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What you need to know about Interest only home loans

The most popular home loan type today is the standard home loan. It is a kind of loan that requires monthly repayments that covers both a portion of the principle and the interest. You will find yourself debt free at the end of the term given that you are paying the minimum monthly repayments in […]

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Home Loan Interest Rate Types

The two main types of home loans are the fixed home loan and the variable home loan. As the name suggests, the fixed home loan gives you repayment stability despite the changes in the market interest rate. This loan is also good for proper handling of finances and stability against rate hikes.

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Investing in Property

A lot of Australians invest in property in order to create wealth. Property is usually the first investment people make before other assets or shares. Many young Australians are buying properties in the suburbs whilst choosing to rent and live in a more expensive and desirable areas. There is also a rise in those who choose to stay home a little longer.

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