HAVE ANY QUESTIONS? CONTACT US
Mon - Sun: 7:00 - 21:00
Open 7 days
0411 229 602
Call
troy@pmbg.com.au
Email

FIRST HOME BUYERS

We have a range of home loan
options, including low deposit and
no deposit ( with a guarantor) home loans.

DEBT CONSOLIDATION

We may be able to help consolidate
debts like credit cards, personal
loans and more with your home loan.

COMPARE YOUR HOME LOAN

Our obligation free online
home loan health check may
help you save money!

Variable Rate Home Loans

A variable rate home loan is a home loan where the interest rate varies when either the Reserve Bank of Australia increases or decreases the official cash rate, or the banks or lenders change them. Most banks or lenders offer discount basic variable home loans. These are generally a 'No Frills' home loan but have many great features like redraw, and the ability to pay as much towards your loan, as you can afford. Variable rate home loans are generally have a lower interest rate than other types of home loans.

Advantages

  • Generally the interest rate is lower than other types of home loans.
  • With most variable rate home loans you can pay as much off the home loan without penalty (all banks have different rules, but a good home loan has this feature).
  • With most banks, any extra you pay off the home loan, you can redraw those funds and use them if required.
  • Some banks and lenders offer an offset account, which will offset against a variable home loan.
  • With most banks, variable rate home loans can be packaged under a banks professional package, saving you fees, and some banks offer a cheaper variable interest rate under their professional package.

Disadvantages

  • The interest rate can go up.
  • It is may be hard to set a household budget when your not sure what your home loan repayments may be in the future.

General Variable Interest Rate Home Loan Fees

  • An application fee may apply to your variable rate home loan.
  • Your Variable rate home loan may have a monthly fee.
  • If your loan is greater than 80% of the property value, you will pay a once off mortgage insurance fee.

Loan Term And Repayment Types

  • Home loan terms from 5 to 40 years (Depending on the bank or lenders credit policy)
  • Principle and interest repayments are available.
  • Interest only repayments may be available.


If you would like some more information on variable rate home loans, contact Perth Mortgage Broker Group , or call Troy on 0411 229 602, 7 days a week.

Contact Us

Please let us know your name.
Please let us know your email address.
Invalid Input
Preferred Contact
Invalid Input
Please let us know your message.

Your Home Loan Repayments

  • MORTGAGE CALCULATOR

    • Loan Amount ($)
    • Interest Rate (%)
    • Term in Years (Max 30)
PERTH PROPERTY REPORTS

PERTH PROPERTY REPORTS

As part of our service, we are offering free Perth property reports on as many properties as you like.
Perth Mortgage Broker Group
We are open 7 days a week.
Please contact us anytime.
0411 229 602
troy@pmbg.com.au
© Copyright 2018 Perth Mortgage Broker Group. All Rights Reserved.

Search

Contact

Please let us know your name.
Please let us know your email address.
Invalid Input
Preferred Contact
Invalid Input
Please let us know your message.