Home Loans

Home Loans

Finding the Right Home Loan


At Capital One we help to simplify this process. We explain everything you need to know. We help you find a loan that is right for you and then we take care of the application process. Basically, we offer our assistance and support every step of the way.

These days the number of home loans and lenders is so huge it can make the task of finding the right loan very daunting. So what is the right loan for you?

Fixed-rate mortgages

With a fixed-rate loan, you know exactly how much you’ll pay per fortnight or month for the fixed period of the loan (usually one to five years).

 

Variable rate mortgages

Repayments can change during the life of a variable-rate loan, so you may pay more or less as interest rates rise or fall. If you’re fairly sure that rates are set to fall, this is a good option.

 

Principal and interest mortgages

In this mortgage, you are paying the amount lent to you plus the interest.

 

Interest-only mortgages

With interest-only, you are paying just the interest on the loan – you are not paying off any of the original principal.

 

Split home loan (fixed and variable)

You can choose to have part of your loan at a fixed rate and the other part can be at a variable interest rate. If rates do fall, the interest will go down on the variable part of your loan, but you aren’t taking as big a risk should rates rise.

 

Redraw facility

If you have a variable-rate loan and you make extra repayments, then you can withdraw that additional money when you need to (you can’t do this on fixed-rate loans).

 

Land loan

A land loan lets you buy a block of land without the pressure to build on it as soon as possible. Land loans are usually variable interest for up to 30 years.

 

Construction loan

For buying land, building or renovating your home, a 12-month construction loan can be the best way to go. Usually, up to 90 per cent of the property value can be borrowed.

 

Non-PAYG loans

For self-employed people, a home loan can still be arranged using differing supporting documentation that shows your ability to service a loan and might include BAS and bank statements. You self-certify your income, which will need verification. You may be able to borrow up to 80 per cent of the property’s value.

 

Equity release

This loan type allows you to convert a portion of your residential property ‘asset’ into cash or an income stream while still allowing you to continue to live in your home.

We help first home buyers and people with little savings, property investors, the self-employed, people with bad credit records and people who need to refinance or consolidate debt.

What’s next?

If you want to get a personal individual assessment and discuss what your options are? Contact us on 1300 CAP ONE (227 663) or fill in our Free Assessment Form.

Get a Free Assessment