Loan Types

General Home Loans

  • Basic home loans
    Don’t need “bells and whistles”, a basic loan could be the answer.
  • Standard variable rate home loans
    A standard home loan offers a mix of features, flexibility, interest rates and fees.
  • Fixed rate home loans
    Worried about rising rates, then a fixed rate home loan may be the solution.
  • Split Rate home loans
    Brings the benefits of variable and fixed interest rates into a single home loan.
  • Interest Only home loans
    Offering lower repayments, they are particularly suitable for investors.
  • Line of credit home loans
    Also known as a revolving line of credit, these loans have become popular due to their flexibility and features.
  • Lo Doc home loans
    Less paperwork and fewer hassles for the self-employed people.
  • No Deposit home loans
    Many lenders now approve loans of up to 100% of the value of a property.

Specialised Home Loans

  • Second home loans
    Every time you buy and sell, finding the right loan will be different.
  • No doc home loans
    There is a growing range of document-free home loans for self-employed.
  • Professional packages
    Lenders offer special loan deals in an effort to attract people on higher income.
  • Home equity loans
    Your home is likely to be your biggest asset, why not put this asset to work.
  • First home buyer home loans
    Finding your home can be challenging, finding the right home loan can be too.
  • Investment property loans
    Finding the right home is only half the battle; finding the best finance is the other.
  • Home Improvement loans
    When you decide to renovate, finding a loan to suit your needs is important.
  • Construction loans
    If you’re building or renovating, this will facilitate draw downs for your project.
    Home Loan Features
  • Offset account
    An offset facility can be a simple way of paying off your mortgage sooner.
  • Redraw facility
    A redraw facility is a popular feature that allows you

Lenders Mortgage Insurance

If you are buying a property and have less than a 20 per cent deposit, you may be required to pay Lender’s Mortgage Insurance.

Lenders Mortgage Insurance insures your lender against non-payment or default on your residential property loan. While it protects the lender against loss if you stop making your mortgage payments, Lender’s Mortgage Insurance also makes it possible for purchasers to buy a home with as little as a 5 per cent deposit.

How it works

When you take out a loan, you pay a once-off fee to the lender. Fees vary according to the amount borrowed and the size of your deposit. You can pay the fee up-front or add it to the total loan amount.
While Lender’s Mortgage Insurance is not mandatory, most lenders require it if you are borrowing more than 80 per cent of the property’s value. One way to avoid the insurance costs is to save more for your deposit.

Costs and benefits

While Lender’s Mortgage Insurance protects the lender in the event you default on your loan, there are plenty of benefits to home buyers. First time buyers benefit because it allows them to buy a home sooner with a smaller deposit. In times of rising property prices, Lender’s Mortgage Insurance allows buyers with smaller deposits to gain a foothold in the market and thereby increase their equity through capital growth.

Please contact the lending professionals at APO Finance to discuss all your loan requirements.

Call 07 3387 2200 or Contact Us by clicking here.