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Home Loans Articles
Learn more about how to manage your personal finances with RateCity's home loan articles, including how-to-guides on comparing home loan interest rates, fees, features and other benefits.
Alex Ritchie
Personal Finance Editor
If I don't like my new lender after I refinance, can I go back to my previous lender?
Struggling with refinancers' remorse? Discover your options if you've switched lenders but realised you want to go back to your old lender.
Home Loans
25 Oct, 2022
4 min read
Mark Bristow
Personal Finance Editor
What is a specialist lender?
Specialist lenders, also known as non-conforming lenders, are lenders that offer mortgages to ‘non-vanilla’ borrowers who struggle to get finance at mainstream banks. This may include borrowers who are self-employed, in casual employment or new to Australia, as well as borrowers with bad credit.
Home Loans
20 Oct, 2022
2 min read
Vidhu Bajaj
Personal Finance Writer
Can workers' compensation be used to qualify for a mortgage?
Explore how worker's compensation can help you qualify for a mortgage.
Home Loans
19 Oct, 2022
3 min read
Vidhu Bajaj
Personal Finance Writer
What are genuine savings?
Learn about Genuine Savings, its constitutes and why is it important to qualify for a home loan
Home Loans
19 Oct, 2022
4 min read
Jodie Humphries
Personal Finance Editor
Everything you need to know about a Lenders Mortgage Insurance refund
You may get an LMI refund if you repay your home loan within 12 to 24 months, provided you fulfil the other eligibility criteria. In some cases, you can get a refund of up to 50 per cent of your LMI fee.
Home Loans
18 Oct, 2022
3 min read
Mark Bristow
Personal Finance Editor
What is a drawdown?
Transferring money from a lending institution to a borrower is also known as “drawing down”. In a typical home loan, the funds are drawn down all at once to buy the property. In a construction loan, the money is drawn down in several stages to pay the builders as they progress through each phase of the project. In a line of credit loan, you can draw down money, up to a limit, based on your loan’s available equity.
Home Loans
14 Oct, 2022
3 min read
Peter Terlato
Personal Finance Editor
Can you get a home loan if you owe taxes?
During the mortgage approval process, lenders gather information that may uncover tax debts. If you owe money to the ATO, there are lenders that may be willing to approve your home loan application.
Home Loans
14 Oct, 2022
5 min read
Mark Bristow
Personal Finance Editor
Can you borrow extra on your mortgage for furniture?
It may be possible to borrow extra money on your home loan to help pay for furniture. However, this could mean paying more interest on your mortgage, potentially blowing out the cost of furnishing your home.
Home Loans
13 Oct, 2022
4 min read
Mark Bristow
Personal Finance Editor
Can I change jobs while I am applying for a home loan?
Many lenders require you to be in a permanent job with the same employer for at least six months before applying for a home loan. If your work situation changes for any reason while you’re applying for a mortgage, this could reduce your application’s chances of approval. But contacting the lender as soon as you know your employment situation is changing may allow you to come to an agreement.
Home Loans
12 Oct, 2022
4 min read
Mark Bristow
Personal Finance Editor
The benefits of downsizing your home
Senior Australians may find that the family home is bigger than they know what to do with, and may be costing a lot to maintain. Downsizing to a smaller property may not only better suit your changing lifestyle but come with financial benefits for your household budget.
Home Loans
05 Oct, 2022
4 min read
Vidhu Bajaj
Personal Finance Writer
Is home equity release the right option for you?
Home equity release loans can help you access some of the money you’ve paid into your home without taking on additional debt.
Home Loans
22 Sep, 2022
7 min read
Jodie Humphries
Personal Finance Editor
Mortgage protection insurance vs life insurance
Have you planned what will happen to your mortgage and other financial responsibilities after you die? Mortgage protection and life insurance are two options that can help.
Home Loans
19 Sep, 2022
3 min read
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Vidhu Bajaj
Personal Finance Writer
29 Oct, 2024
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Personal Finance Writer
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Personal Finance Editor
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