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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.
Peter Terlato
Personal Finance Editor
What is the difference between an offset account and redraw facility?
The main difference between an offset account and a redraw facility is that an offset account operates as a transaction account that can be accessed whenever you need it, while a redraw facility is more like an “emergency fund” that you can draw on if necessary, but isn’t intended to be used for everyday expenses.
Home Loans
14 Aug, 2024
6 min read
Jodie Humphries
Personal Finance Editor
How to purchase property as a couple but keep one name on the property title
Some couples may want to buy a property together, but keep one borrower’s name off the property title to protect assets or reduce taxes. Although it may seem an uncommon structure, several lenders allow you to jointly apply for a mortgage with only one name on the title.
Home Loans
13 Aug, 2024
4 min read
Peter Terlato
Personal Finance Editor
Can I use my super to buy a house?
Saving up for a home loan deposit can be stressful, especially if you’re juggling household expenses and other debts. The good news is that many first homebuyers can utilise voluntary super contributions towards their deposit.
Home Loans
12 Aug, 2024
6 min read
Alex Ritchie
Personal Finance Editor
What is the average mortgage on a million-dollar home?
The average mortgage repayments on a million-dollar home will depend on the amount of money you’ve saved for a deposit, as well as the interest rate offered on the home loan.
Home Loans
12 Aug, 2024
3 min read
Alex Ritchie
Personal Finance Editor
LMI waiver for professionals
When calculating your upfront costs for purchasing property, you may need to pay costly Lenders Mortgage Insurance (LMI) if your deposit is low. However, some professions and high-income earners may qualify for LMI waivers, which could save them thousands of dollars.
Home Loans
08 Aug, 2024
6 min read
Alex Ritchie
Personal Finance Editor
How does raising interest rates curb inflation?
Raising interest rates on credit products means consumers and businesses are less likely to borrow money, and existing loans become more expensive to service. This means consumers and businesses now have less money to spend. When spending decreases, theoretically this should slow down economic growth and in turn, reduce prices.
Home Loans
31 Jul, 2024
5 min read
Alex Ritchie
Personal Finance Editor
What is the smallest home loan you can get?
If you’re shopping around for a home loan, you may be surprised to learn that borrowing a small amount can be just as challenging as trying to take out a massive mortgage. This is because mortgage lenders typically have minimum amounts they are willing to lend.
Home Loans
25 Jul, 2024
4 min read
Mark Bristow
Personal Finance Editor
Can you make an offer without pre-approval?
You can make an offer to buy a property by private treaty without having pre-approval from a mortgage lender. However, nothing is final until the contracts are exchanged and signed, so you could miss out on your dream property if you can’t get your home loan organised and approved fast enough.
Home Loans
22 Jul, 2024
5 min read
Mark Bristow
Personal Finance Editor
What are the tax deductions available for homeowners?
If you’re buying a house to live in or already own an owner-occupied home, you may not be eligible for any tax deductions. However, if you’re earning an income by renting out your investment property, or are using part of your home for running a business, you may be able to claim a tax deduction for some of the costs you incur.
Home Loans
19 Jul, 2024
4 min read
Vidhu Bajaj
Personal Finance Writer
Can I get a tax deduction for interest on a home loan?
Own a property you rent out, either partially or as a whole? You may be able to claim a tax deduction for interest on your home loan when you file your tax return.
Home Loans
13 Jun, 2024
4 min read
Mark Bristow
Personal Finance Editor
How do you avoid Lender's Mortgage Insurance?
Lenders Mortgage Insurance (LMI) can make a big impact on your mortgage budget if you plan to borrow with a low deposit. Whilethere are several options available to avoid LMI, some may better suit some borrowers more than others.
Home Loans
18 Mar, 2024
6 min read
Alex Ritchie
Personal Finance Editor
Big banks vs small banks for mortgages
Choosing your mortgage provider can sometimes involve as much research as locating your ideal property. After all, you wouldn’t purchase the first property you saw without looking inside, so why would you treat your mortgage this way?
Home Loans
05 Mar, 2024
6 min read
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Mark Bristow
Personal Finance Editor
13 Mar, 2025
How to lower your mortgage repayments
Vidhu Bajaj
Personal Finance Writer
28 Feb, 2025
What is a non-conforming home loan?
Alex Ritchie
Personal Finance Editor
26 Feb, 2025
How long does it take to be pre-approved for a home loan?
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