Compare Loan Types
What to Consider When Comparing Loan Types
When you compare loan types, it's crucial to look beyond just the interest rate. Various features offered by different loans can greatly impact your financial plans, both now and in the future.
From variable to fixed rates, the choices can seem overwhelming. Consider whether features like redraw facilities and offset accounts would enhance your financial strategy. Additionally, factor in aspects such as the potential need for lenders mortgage insurance. Navigating these considerations can be daunting, which is why consulting with a professional is invaluable. By seeking guidance from someone well-versed in the intricacies of home loans, you can gain clarity on important questions and explore options tailored to your specific needs and goals.
We’re Here to Make It Easy to Choose the Home Loan That’s Right for You!
Fixed Rate Loan
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This is where the interest rate of a loan is guaranteed to remain the same.
Construction Loan
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May be most suitable if you are building your own home or investment property.
Line Of Credit
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You can access to the equity in your home or investment up to a pre-approved limit.
Split Loan
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Make part of your home loan a variable rate and part a fixed rate, you decide how much you allocate to each.
Guarantor Loans
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A family member uses the equity in their property as additional security against your loan.
Bridging Finance
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Bridging finance allows you to use the equity in your existing home to finance your new one.
Need Help Getting Started?
Not sure where to start? Don't worry the team are here to guide you every step of the way. Reach out today for a no obligation chat.
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The Gippsland Mortgage Solutions Team
Also Help You With
Buying your very first home is an exciting but often nerve wracking time. At Gippsland Mortgage Solutions we enjoy the opportunity to help first home owners by offering expert advice and taking the stress out of the process.
The Team Will:
- Explain all the steps involved in buying your first home and talk in plain language so you understand the requirements and what is involved
- Help you to organise pre-approval so you know exactly what you can afford
- Assist you with all of the paperwork, keep you informed and support you all the way until settlement
- If you are eligible for government incentives such as the First Home Owners Grant we will assist you to complete the application.
Property Investment can assist you to get your first step on the property ladder or help you to build wealth. Whatever your strategy, it is important to understand the benefits, costs and risks before you start. When looking at getting into property investment it is essential to do your calculations and find the investment property loan that will maximise your returns.
The Team Will:
- Work with you to obtain a thorough understanding of your individual circumstances, investment strategy and goals
- Calculate how much you can borrow and advise of your likely monthly repayments so you can know the price range you can afford to invest in
- Help you to find the right investment loan best suited to your individual situation and investment strategy.
If you’re starting a new business or growing an existing business, it is important that you seek a professional who can assist you in finding the right loan
Business loans are very different to other forms of finance such as home loans, as are the qualifying criteria. There are many different types of business loans available so understanding what loan best suits your needs is pivotal to ensuring you are able to take your business to the next level.
The Team Will:
- Help you understand the wide range of business lending products available and work with you to help you choose the right loan that best suits your business requirements
Talk to us about your Business Lending requirements today Gippsland Mortgage Solutions can help you understand the business lending options available and assist you in sourcing the business loan that best suits your needs.
Whether you are wanting to obtain a lower interest rate, lower your loan repayments, consolidate debt, complete renovations or buy an investment property, refinancing your existing home loan could be the best option for you. Refinancing is the process where you pay out your existing home loan by taking out a new loan. This new loan could be with your existing lender or through a completely different lender.
The Team Will:
- Help you to determine whether you will save money by refinancing
- Assist you in comparing hundreds of home loan products and lender offers from our panel of lenders
- Assess your individual circumstances and focus on putting your personal and financial needs first.
Read our FAQ
Mortgage brokers offer access to a wide range of loan options from various lenders, saving you time and effort in comparing options and securing competitive rates.
Mortgage brokers analyse your financial situation and requirements to identify suitable loan options from their panel of lenders, including major banks, and compare features and rates to find the most suitable one for you.
No, mortgage brokers work independently and collaborate with multiple lenders, including major banks, to offer a diverse range of loan products to their clients.
While some mortgage brokers charge fees for their service, there is no cost to you for utilising Gippsland Mortgage Solutions to help you secure your loan as we receive a commission payable by the lender you choose. Details of commission to be received will be included in the Summary of Requirements and Credit Proposal document that we will provide you with when credit assistance is provided.
The timeframe varies depending on factors like your financial situation, the complexity of your requirements, and the current market conditions. However, mortgage brokers streamline the process and often secure loans faster than if you were to approach lenders individually.