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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

What is an early repayment fee?

Early repayment fees may be a thing of the past for variable rate home loan customers, but that doesn’t mean your lender still can’t sting you with other ongoing costs. It's crucial to be aware of the terms and conditions, as well as any ongoing fees, associated with your home loan.

Home Loans

16 Aug, 2023

4 min read

Mark Bristow

Home & Personal Finances Editor

What credit score do I need for a home loan in Australia?

Borrowers with fair or higher credit scores may have an easier time getting their mortgage applications approved. But even if you have a poor or below average credit score, if you can fulfil the lender’s other eligibility criteria, there may be steps you can take to confidently apply for a home loan in Australia.

Home Loans

08 Aug, 2023

3 min read

What credit score do I need for a home loan in Australia?

Mark Bristow

Home & Personal Finances Editor

Who is eligible for the Home Guarantee Scheme?

The Australian Federal Government’s Home Guarantee Scheme (HGS) can help Australians purchase their first property. First home buyers, regional home buyers, and single parents may all be eligible for the program, provided they also fulfil the other eligibility criteria.

Home Loans

07 Aug, 2023

7 min read

Who is eligible for the Home Guarantee Scheme?

Alex Ritchie

Personal Finance Editor

What is the cash rate?

The official cash rate tends to influence financial products which could see you paying more, or less, on your loans. But what is it, why does it fluctuate and how could it affect you?

Home Loans

02 Aug, 2023

6 min read

Alex Ritchie

Personal Finance Editor

Do mortgage brokers have fees?

Enlisting the help of a mortgage broker during your home buying journey can be advantageous in a number of ways. But will it leave you out of pocket?

Home Loans

31 Jul, 2023

3 min read

Alex Ritchie

Personal Finance Editor

What is the average mortgage broker commission rate?

Are you buying a new home and need the help of a mortgage broker? You may want to know more about the commission and trail commission your broker may receive.

Home Loans

25 Jul, 2023

3 min read

Mortgage Broker Commission Rates: What are they? | RateCity

Alex Ritchie

Personal Finance Editor

Should I apply for a mortgage through a bank or a broker?

You may consult a mortgage broker to find a suitable home loan, but if you have a bank account you can check if that bank offers a suitable mortgage too.

Home Loans

24 Jul, 2023

5 min read

Should I apply for a mortgage through a bank or a broker?

Mark Bristow

Home & Personal Finances Editor

What is a commercial finance broker?

Commercial finance brokers put borrowers in touch with lenders to organise loan deals, much like mortgage brokers. The difference is that commercial finance brokers specialise in brokering deals for commercial purposes, such as loans to start or run a business, or to purchase property or equipment for work use.

Home Loans

24 Jul, 2023

3 min read

Alex Ritchie

Personal Finance Editor

What is a comparison rate, and how is it calculated?

A comparison rate is an indication of a home loan’s overall cost, combining its interest, fees and other standard charges into a single percentage rate.

Home Loans

20 Jul, 2023

5 min read

What is a comparison rate, and how is it calculated?

Vidhu Bajaj

Personal Finance Writer

Does Afterpay affect your home loan application?

When applying for a home loan, all your current debts are taken into consideration. So, what’s the impact of your Afterpay account on your home loan application?

Home Loans

19 Jul, 2023

6 min read

Does Afterpay affect your home loan application?

Mark Bristow

Home & Personal Finances Editor

What is the average Australian home loan amount?

According to the Australian Bureau of Statistics (ABS), the average home loan amount in Australia for owner-occupier dwellings as of May 2023 is about $584,836, which may seem like a lot. But you must remember that the state and capital city you reside in is an important factor that determines the property values, which in turn influences the average Australian home loan.

Home Loans

17 Jul, 2023

2 min read

What is the average Australian home loan amount?

Alex Ritchie

Personal Finance Editor

How to take out a home loan

There are three ways to take out a mortgage for your property purchase; you can use a mortgage broker, you can go direct-to-lender or you can use a comparison website, like RateCity.

Home Loans

12 Jul, 2023

6 min read