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

Lisa Watt

Excellent help great advice highly recommended

Randolph Stagno Navarra

Fantastic service from start to finish. Answered all questions I had and kept me informed throughout the whole process. Massive thank you to the whole team.

Chris Wong

Damien, Marcus and Simran were all involved in assisting me and my partner purchase our first home. They guided us through what was a new experience for us and listened to what our goals were, making the whole process feel smooth and simple. We felt informed and they were always responsive when we had questions or concerns pop up. Could not recommend these guys enough!

Adam Luitjes

We had a fantastic experience working with Damian and his team at Margin Finance. From the beginning, they were prompt, professional, and incredibly helpful in guiding us through the mortgage process. Damien was always accessible, no matter how big or small the question and was there to provide clear, honest, and timely advice. We couldn’t be happier with the service we received and would highly recommend Damian and the Margin Finance team. Thank you for helping us secure our new home - Adam and Grace.

Sankar G

Damien and his team are simply superb. I initially went with another broker, but my loan application was left in limbo—even after signing the contract. That’s when I turned to Damien and his team, and I’m so glad I did. They got my loan approved before the deadline and were incredibly helpful throughout the entire process, right up to settlement. I’m based in Perth and they’re in Melbourne, but not once did I feel the distance. That’s how closely and proactively they worked with me. Bottom line: For this team, customer service is paramount. I simply love working with them and can't recommend them enough.

Josiah Salazar

I first met Damien when I was looking to secure a loan for my very first property. At the time, I also sought a second opinion and ended up going with a different broker, based on the promises they made. Unfortunately, that turned out to be a costly mistake. they significantly under delivered, securing me an approval that was $150,000 less than what they had originally promised. It was a tough lesson. In contrast, Damien was upfront and honest from the beginning. He set realistic expectations and told me what I needed to hear, not just what I wanted to hear. A rare quality in this industry. So when it came time to work with a broker again, I didn’t even consider going elsewhere. I went straight to Damien. And to say that he delivered is a huge understatement. From day one, everything was set up properly. The service was outstanding, communication was consistent, and the support from his team was second to none. I truly believe that Margin Finance is the best in the country, and I wouldn’t hesitate to recommend Damien and his team to anyone.

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.