Choosing a Home Loan to Suit You

Gone are the days where you signed up for a home loan with the same rigid contract terms that everyone else had to agree to. Today you will find banks and lenders are more flexible with their loans and the terms as they realise that to reach a greater market and to accommodate more customers, they have needed to change their methods to suit yours.
This is fantastic for those who are looking for the perfect home loan, as the chances of finding and securing one are higher. It is advantageous to obtain good advice regarding the current home loans that are available, as the different options can make the process seem confusing or even daunting. An expert real estate company such as Prudential Real Estate would be ideal to include in your list of people where you can seek advice.

Why talk to Prudential?

The team at Prudential Real Estate are experts in their field. Their years of proven experience in the industry and their ability to grow from one office to many are proof enough that they don’t make decisions lightly. And choosing the right home, or home loan in Campbelltown, is not something to be rushed.
Prudential Real Estate offer fantastic information on their site regarding the different types of home loans and a calculator to give you an estimate on the amount you can borrow. Furthermore, in order for you to get a much more accurate idea, they recommend a mortgage consultant whom you can call for information and advice.

Available loans

Variable and fixed-rate loans are two of the more common kinds of loans available. A variable home loan means the interest rate and therefore repayments will change, whereas a fixed rate is a loan where the interest rate will stay the same for a period of one to five years.
Each of these loans will have different conditions that vary from lender to lender so make enquiries regarding each method. However, if you are looking for as much flexibility as possible then a transactional mortgage may be for you. The mortgage itself acts like your own personal bank account so you may pay and draw money as it suits; however, a downfall is that you have to exercise a lot of restraint.
Low doc home loans are fantastic for those who are self-employed in Campbelltown or who don’t fit the criteria for a standard bank home loan. You won’t need as much paperwork for approval, although the interest rates are usually higher.
For more information on these loans and others, visit Prudential Real Estate online at today.