Home Loans

Buy your First Home, Next Home or Dream Home sooner with a Home Loan

When it comes to buying a home, the journey of securing the right home loan can feel overwhelming. That's where Margin Finance steps in, simplifying this path with expert advice and access to an extensive range of home loan options from banks and lenders across Australia. Margin Finance stands out as your go-to Home Finance & Mortgage Broker, dedicated to finding a loan that fits your financial situation like a glove.

Why choose Margin Finance? Firstly, our seasoned experts offer personalised service, ensuring you understand every step of the home loan application process. From calculating your borrowing capacity to advising on the nuances of interest rates, we're here to make your dream of buying a home a reality. Whether you're curious about the implications of lenders mortgage insurance (LMI) or navigating the complexities of loan to value ratio (LVR) and stamp duty, our advisors have got your back.

We pride ourselves on offering a streamlined application process. This means guiding you through gathering necessary documents like bank statements, making sense of your credit history, and understanding the property market trends. Our aim is to secure you a home loan with favourable terms, whether that involves a variable interest rate that fluctuates with the market or a fixed interest rate ensuring predictable repayments for a set period.

Access to a myriad of Home Loan options enables us to tailor solutions whether you're after interest rate discounts, seeking to leverage your home equity, or exploring ways to get pre-approved for a smoother buying journey. Our expertise extends to helping clients understand the benefits of features like offset accounts, crucial for those looking to reduce their loan interest.

At Margin Finance, applying for a home loan is more than just filling out forms; it's about crafting a strategic approach to finance your home. With us, you not only gain a partner well-versed in the current home loan rates, be it for fixed interest rate home loans or variable home loan rates. You gain a trusted advisor.

So, when you're ready to take the next step in your home buying journey, remember Margin Finance is here. With our in-depth knowledge and access to a comprehensive range of lending options, we're poised to navigate the home loan landscape on your behalf. Let us help you secure the key to your new home with confidence.

Find out how much you can borrow

In 60 seconds, understand how much you can borrow to buy your dream home.

Get your Borrowing Capacity

Let's talk about Fixed Rate Home Loans & Variable Rate Home Loans

Let's talk thought some of the loan options you have to make informed choices about whether to fix now, in the future or not at all:

Understanding Fixed and Variable Rate Home Loans

Variable rate home loans are like the chameleons of the finance world, flexible and adaptable, offering more features such as redraw facilities and the ability to make extra payments. On the other hand, fixed-rate home loans are more like tortoises, steady and predictable, with consistent repayment amounts over the fixed term.

However, breaking free from a fixed-rate home loan term can feel like escaping from Alcatraz, often incurring significant extra costs.

Fixed Home Loan Interest Rates: Predicting the Future

Fixed home loan interest rates are like your personal financial weather forecast. Lenders assess the cost of holding money at a certain rate for a specific amount of time and determine the interest rate accordingly.

When a borrower locks in their interest rate, they're betting on the variable rate rising above the rates they've secured. If a borrower fixed their loan today at a five-year fixed rate that's 2% higher than the variable rate, they would start paying an extra 2% interest immediately.

The Pros and Cons of Fixed Rates: A Balancing Act

A fixed-rate loan offers a fixed interest rate and, consequently, fixed loan repayments. You can usually "lock in" your repayments for between 1-5 years, even though the total length of the loan itself maybe 25 or 30 years. At the end of the fixed loan period, you can choose whether to fix the loan again for another period of time at the current market rates or convert the loan to a variable interest rate for the remaining time left of the loan.

While fixed rates provide peace of mind and precise budgeting, they don't decrease if rates fall. They also limit additional payments and penalize early payout of the loan.

Variable Home Loan Interest Rates: Riding the Economic Wave

Variable home loan interest rates are like surfers riding the wave of the economic climate. They fluctuate approximately in parallel with the Reserve Bank of Australia’s “cash rate”.

The Reserve Bank uses the cash rate as a tool to control inflation – when the economy is thriving (and inflation is high), the cash rate goes up; when the economy is weakening (inflation usually is lower), the cash rate often comes down.

In conclusion, whether you opt for a fixed or variable-rate home loan ultimately depends on your financial circumstances, risk tolerance, and market expectations. Use our free home loan quote to see if you could save by refinancing to a fixed or variable rate, or find out your borrowing capacity if you're looking to get a home loan. Your dream home might be just a few smart decisions away!

Getting a Home Loan

Initial Consult

Have a chat with one of our qualified Mortgage Brokers who will understand your situation and talk you through the next steps.

Fact Find

We'll work with you to understand a bit more about your situation (including your financials, assets etc.) to make sure you will qualify for a Home Loan.

Pre Approval

Once you're approved, you can start bidding or making offers on properties you want to purchase.

Settlement

You settle on the property, your Home Loan draws-down and you're good to go!

Book Appointment

A margin exceeding the means of others

Saravanand Naiker

Damian and the team has help us to purchase our home with ease. He has guided us along the way and keeping us informed with the progress. Very proactive and quick to come up with options when needed. Don't think I could have asked for a better Mortgage Broker. Amazing service. Hats off to you and your team.

David Paoli

I recently had the pleasure of working with Damian and the team from Margin Finance and I can’t recommend them highly enough. They made the mortgage process feel seamless and were able to explain everything in simple terms. Beyond grateful for the assistance received.

George Thomas

Outstanding service and expertise, we couldn’t be happier with the experience, Special thanks to Joanna, Damien and Simran. Highly suggested.

Shaun B McMahon

I highly recommend Damian and his team at Margin Finance. As a first home buyer with a smaller budget I had already been through two mortgage brokers who barely gave me the time of day. Damian and his team provided a completely different experience. From the very first call I felt a genuine care and attentiveness that was consistent throughout the entire process. Along the way I signed up for the acquisition service and Damian was incredibly diligent in helping me through my first purchase. He was readily available to answer questions and always in my corner fighting for the best possible outcome. After securing a property his colleagues were incredibly friendly and helpful during the settlement process. If you're looking for a mortgage broker you'll be in good hands with Damian and his team.

Maddi Skeggs

Really enjoyed our experience with Margin Finance. We are first home buyers and Margin were able to answer all of our (sometimes obvious) questions and take the time to explain everything until we full understood it - even if it meant explaining something multiple times. They made us feel secure and safe during the emotional rollercoaster of buying your first house, and I always felt good knowing we had them in our corner. Super personable and easily contactable. Thanks so much to you Damien and especially Andrew for your consistent help and to Jo and Alex also jumping in to support.

Theresa Meach

I couldn’t be happier with my experience with Margin Finance especially Andrew, Alex and Damian. From the very first consultation, the team was incredibly knowledgeable and attentive. They tailored their advice to my situation and provided me with a personalised plan. Andrew and Alex were always available to answer my questions even on their day off!! I would highly recommend Margin Finance to anyone looking for a reliable and knowledgeable team! Thank you again for helping me secure my first home.

THE MEANS TO OVER 45 LENDERS

Frequently Asked Questions

What is a Pre-approval?

Enter the property market with confidence when you are pre-approved for a home loan.

Pre-approval is a crucial step in purchasing a property. To be pre-approved means a lender ‘pre-approves’ an amount you can borrow based on a complete assessment of your financial situation.

This means you can attend auctions confidently and comfortably knowing what your borrowing capacity is. It also means you can begin the building process knowing your limit if you desire to build on vacant land instead of buying established.

Whether you are borrowing a small amount or a larger amount, a formal pre-approval is always a great idea.You'll know exactly how much you are able to spend which places you in a stronger position to negotiate with a vendor or bid at an auction.Another advantage to getting pre-approved? Your final loan will be organised a lot faster.At Margin Finance, pre-approval is cost-free.

What is a Bridging Loan?

A bridging loan acts as a short term loan that funds the purchase of a new property whilst selling your existing property.

Bridging loans can also provide finance for you to build a new home while you live in your current home.

Generally, you would have 6 months to sell the existing property or 12 months if you are waiting for your new home to be built.

What do I do if I need to buy or sell first?

If you are relying on selling your current home in order to purchase the next, you may face difficulty organising funds to cover any time gap between the sale of your current property and buying your new home. In this case, a bridging loan could be the solution.

There are different things that can happen when you are ready to ‘move on’ from your first property, such as turning your current home into an investment property and using available equity to help you purchase your next home.Things like this can become quite complex and using a specialist like Margin Finance can help remove any stress, or room for potential error, from the process. Leave it with us and we will make sure your loans are structured perfectly to suit your unique situation.

What is a Deposit Guarantee?

Another finance option is a deposit guarantee, also known as a deposit bond.

Instead of putting down a cash deposit to secure your new home, you take out a deposit guarantee provided by a lender.

It can be a cheaper alternative to a bridging loan and it provides you with reassurance that the new property will be held until you settle your own home.

What is a Variable-Rate Mortgage?

Variable-rate mortgages have an interest rate that can fluctuate based on market conditions. This type of loan offers flexibility and the potential for lower repayments if interest rates decrease. However, it also means that repayments can increase if rates rise, impacting your budget.

What is a Fixed Rate mortgage?

A fixed-rate mortgage is a loan where the interest rate remains the same for a specified period, typically between one and five years. This type of loan provides certainty in repayments, making it easier to budget and plan for the future. Fixed-rate loans are ideal for those who prefer stability and predictability in their financial planning.

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49 Homer St, Moonee Ponds VIC 3039

03 9448 8363

MY OPTION LOANS PTY LTD AS TRUSTEE FOR MACADA FAMILY TRUST ABN: 19 385 994 864. Credit Representative #445563 is authorised under Australian Credit License #391237

Disclaimer: This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.