Typically, there are two kinds, variable and fixed rate. Interest rate: Owner occupier home loans have a lower interest rate than investment home loans but it is still imperative to understand the types of interest rate that are being offered by your lender. Here are some things to consider when comparing owner occupier home loans from different lenders. How to compare different owner occupier home loans?Ĭomparing different owner occupier home loans is important to make sure that you are getting the best possible deal. Recognising what type of home buyer you are is an important part of the equation when you are applying for a home loan because this will affect what interest rate you will get and whether you go with a variable or fixed rate home loan. If you are a first time home buyer, you may also be eligible for a First Home Owner Grant. Owner occupier home loans generally have a lower interest rate than investment home loans, meaning mortgage repaymentsare lower. On the other hand, an owner-occupier home loan is for people who will reside in the property they are buying. Usually, this has a higher interest rate compared to owner occupied because property investors are viewed as riskier borrowers. This type of home loan is designed for investors. If you’re buying property with the purpose of generating rental income or to sell it for capital gain, you will need an investment home loan. The right type of home loan for you will depend on what you intend to do with the house you’re buying. There are two types of home buyers: people who are buying a home with the intention of making it their primary residence and people who are buying an investment property to rent out. So what does owner occupier home loan mean? Here is what you need to know: If you’re looking to secure a home loan as a home owner, this type of mortgage is the right fit for you. You may have heard of the term owner-occupied home loan.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |