Three tips for finding the right home loan

Sifting through home loan fees, rates and features can be overwhelming work. You soon release that making the decision to buy a home was the easy part – it’s what follows that requires your true commitment and patience.

There is no reason to be perturbed however, as with most things if you put in the time and effort the rewards could be insurmountable.

There are a few key things you can start doing today that will help you secure a home loan and ideally, your dream home.

1. Shop

There are hundreds of home loan products on offer and deciding on the right one can be difficult. So you’ll need to spend some time shopping around and working out what is right for you and your circumstances. The most important thing to remember is there is no one-fit home loan so you really do have to carry out your own research in order to find the one for you.

Luckily, shopping no longer requires physically foot work. You can shop from your own lounge or bedroom by comparing home loans online.

2. Compare

A great way to see if a home loan stacks up to the marketing hype is to compare it to a range of home loans. Narrow down your preferred home loan options by shopping around and then compare those home loans side-by-side to see which one is going to service you best.

You can do this by using the RateCity home loan comparison tool which allows you to compare interest rates, fees and loan features from the selection of home loans you have chosen. It’s a great way to easily identify what each home loan has to offer.

3. Calculate

Finally, try experimenting with a mortgage repayment calculator for Australian borrowers. It will help you to estimate home loan repayments and see how much you could save by making extra repayments. It can be a great way to help you save time and money on your home loan.

Remember there is no one-size-fits-all home loan but as long as you carry out your own research by shopping, comparing and calculating you will be able to track down a home loan that suits you.

Compare home loans in Australia