Home
Home Loans
Articles

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.

Mark Bristow

Personal Finance Editor

How to make an offer on a house

Once you’ve been preapproved for a home loan, you can start house-hunting with confidence, knowing your finances are ready. Once you find a property that suits your needs and your budget, you can take the next step and make an offer. But what is the exact process of making an offer on a house, unit, or investment property?

Home Loans

20 Sep, 2023

7 min read

Alex Ritchie

Personal Finance Editor

The benefits of refinancing a home loan

If you’ve been paying off your home loan for some time now, you’ve likely thought about refinancing. After all, the chances that your current home loan is still the best option available for you may not be as high as you think.

Home Loans

10 Sep, 2023

7 min read

Alex Ritchie

Personal Finance Editor

Should you refinance or negotiate a better home loan rate?

After you’ve held your mortgage for a few years, a question that often comes up is whether to refinance to something better, or to negotiate with your current lender for a better interest rate?

Home Loans

07 Sep, 2023

5 min read

Should you refinance or negotiate a better home loan rate?

Mark Bristow

Personal Finance Editor

How to improve your chances of getting approved for a home loan

Unfortunately, many home loan applications are rejected for avoidable reasons, such as unusually high living expenses, or providing incorrect documentation. Understanding what may lead to your home loan application’s rejection may help you to increase your home loan’s approval chances.

Home Loans

07 Sep, 2023

7 min read

How to improve your chances of getting approved for a home loan

Mark Bristow

Personal Finance Editor

How much does it cost to break a fixed mortgage?

Choosing to refinance or repay a home loan during its fixed rate period often means the lender will charge you a break fee. The cost of this fee will vary based on how long is left on your fixed rate term and how much interest rates have changed since you applied for the loan. With break costs reaching tens of thousands of dollars in some cases, they may affect the overall value of your refinance.

Home Loans

05 Sep, 2023

6 min read

How much does it cost to break a fixed mortgage?

Mark Bristow

Personal Finance Editor

Can I add someone to my home loan?

A joint application is one of the simplest and most common methods for two people to end up with their names on a mortgage. But adding a second person to a mortgage that’s already in place can be more complex, and will likely require refinancing.

Home Loans

01 Sep, 2023

6 min read

Peter Terlato

Personal Finance Editor

What is a cashback mortgage broker?

Cashback mortgage brokers generally credit all ongoing lender commissions, in cash, to the borrower. These funds are usually paid by the lender on a monthly or annual basis for the life of the loan.

Home Loans

29 Aug, 2023

6 min read

Mark Bristow

Personal Finance Editor

Checklist of documents needed for a home loan application

Once you’ve decided to apply for a home loan, the first step is to start gathering the necessary documents for the application process. While the exact disclosures required can differ from lender to lender, there are specific documents that are usually mandatory to supply while applying for a mortgage. Even if your lender requires additional documents, preparing the basics beforehand could save you considerable time.

Home Loans

25 Aug, 2023

3 min read

Checklist of documents needed for a home loan application

Alex Ritchie

Personal Finance Editor

Is it worth refinancing my mortgage for one percent?

While some people say that it’s worth refinancing for a rate cut of one percent, a reduction of even half a percentage point could help your household gain some breathing room in your budget.

Home Loans

24 Aug, 2023

4 min read

Is it worth refinancing my mortgage for one percent?

Mark Bristow

Personal Finance Editor

Is there a cost to refinance your home loan (and how much could you save)?

Refinancing a home loan typically costs some money in fees and charges from your old and new mortgage lenders. However, there may be ways to reduce or offset these costs, and the potential savings from switching could see you break even sooner than you expect.

Home Loans

24 Aug, 2023

5 min read

Is there a cost to refinance your home loan (and how much could you save)?

Alex Ritchie

Personal Finance Editor

Is there any danger in taking out a variable rate loan?

You may have heard friends or family mention the “dangers” of taking out a variable rate home loan. Let's explore the risks and the benefits of a variable rate home loan.

Home Loans

24 Aug, 2023

5 min read

Is there any danger in taking out a variable rate loan?

Alex Ritchie

Personal Finance Editor

How long does it take to get approved for a home loan?

How fast you can get approved for a home loan depends almost entirely on the lender. You should ensure you have the necessary information before applying.

Home Loans

22 Aug, 2023

5 min read