What is a Home Loan?
A home loan is a general term to describe many types of loan products provided for the purpose of purchasing, refinancing or drawing down against residential
real estate. The purpose of the loans can be as broad as the traditional home purchase, construction, renovations, debt consolidation, investment property, refinance, share purchase or even the use of equity for a cheaper motor vehicle loan.
It is important when obtaining a loan that you fully consider the options available such as the term of the loan, interest rates, fixed versus variable interest option costs and which is the lender that is going to suit your needs.