fetch white

Home Loans

Borrowing Power (1)

Home Loans

Searching for a home loan specialist for assistance with home loan applications? Fetch Loans is your best choice. Having home loan specialists who have years of knowledge and expertise, we can help you navigate through the confusing maze filled with seemingly undefinable jargon. Our team has helped hundreds of Australians get the most flexible loans that suit their property goals and financial situations.

Let us help make your life so much easier by making the entire process less complicated. Plus, our home loan specialists can hunt down the home deal that is perfect for your goals. Not only that, but they can also enlighten you about your borrowing power, the different home loans you can choose from, and ensure that you apply for your home loan successfully.

If you are a “First Home Buyer” and you are looking to apply for the First Home Owner’s Grant (FHOG), you can have your FHOG application with your loan and everything else we will do for you. If you need help in deciding which home loan to choose, here are a few of the popular home loan products that will come across with their definitions simplified to make it easier for you to understand.

George-Image-SQUARE-600x600-1-150x150

Let's break down a few of the different types of home loan products currently available.

What are Basic Home Loans?

Basic or ‘no frills’ loans are the most common mortgage options that provides you wit a home loan at low-interest rates with flexible repayments. It sticks out most of the time because of a variable interest rate which would usuallly be half to once per cent below the standard variable rate or can be combined with minimal ongoing fees. Basic loans will best suit loan amounts under $250,000to have an interest rate below the standard variable rate. The cons include minimal flexibility, not having all the features in a mortgage, and can have additional charges when you decide to change loans or pay the entire loan early. To get the best advice on basic home loans, discuss your needs with our team of expert mortgage brokers.

 

 

What is a Fixed Rate Home Loan?

Fixed rate home loans have locked interest rates for a given time period of the loan (most times from one to five years) and will incur easily calculable repayment amounts. If you have the capability of paying a constant interest rate from start to finish, fixed rate mortgages will suit you. It’s nearly impossible to foretell what interest rates on home loans will be in the future. But having fixed rate home loans, you can manage the sudden fluctuations especially during uncertain economic times. The cons include repayments do not lessen if interest rates fall, only limited added payments are allowed, and early disbursement of the loan is penalised.

What is a Standard Home Loan?

Standard variable-rate home loans give more leeway and are usually the most common choice having redraw facility and capacity to make extra payments. Through standard variable-rate home loans, money can be borrowed for a given period with repayments made according to the existing interest rate. As variable home rates adhere to the economic climate – if inflation shoots up, the cash rate goes with it, and vice-versa.

What is a Low Doc Home Loan?

Low Doc (or low-documentation) home loans can be applied for with relatively lesser documentation requirements than what is needed for a mortgage process. These types of loans work best for self-employed, contractor, freelancer, or seasonal worker with an irregular income. Owning your own home will be made possible even with minimal documents available. Cons include relatively higher interests rates as well as lenders may require their mortgage insurance to acquire a loan.

What is a Split Rate Home Loan?

Looking to have all the benefits and features? Having split home loans will provide both flexibility and security. You can the capability of splitting your home loan into different components with different interest rates, meaning you can have pars with fixed interest rate at a given period with the rest at a variable interest rate. After fixed rate repayment is done, the rest of the amount progresses with a variable interest rate. This make it easier as you know your exact monthly repayments as well as be flexible enough to have a variable-rate component. Let our expert mortgage brokers talk to you about split home loans.

What is a Interest Only Home Loan?

Interest-only home loans gives borrowers the options to have lower initial repayments while having a majority of traditional loan benefits. Although there may be higher repayments at the latter part of the loan period. You can pay only the interest for a given time period with the borrowed amount not reduced. After this period ends, standard interest will apply on the amount you borrowed therefore resulting in higher repayments. Investors wanting for an appreciation on their investments will suit this type of loan. If this sounds interesting to you, sit down with our expert mortgage brokers.

What is a Reverse Mortgage?

With this mortgage, you can use your home as security to borrow money. A portion of the equity of your home’s value is converted into payments. Funds will be received either as a lump sum or a fixed monthly payment. After considering the initial mortgage amount, if the loan is higher than your home’s value, federal regulations state that the lender is required to structure the loan transaction amount so it will not be greater than the home’s primary value. This way you will not be held responsible for paying for the difference during the lifetime of the loan. This type of mortgage is required until the borrower passes away or the home is sold.

Eligibility

Before applying and affecting your credit score we review everything upfront. If you are not eligible for any reason we will let you know.?

 

Fast Approval

Our green tick review of your credit file and application mean we can lodge your loan for pre-approval

 
discountpink-150x150

Access to 35+ Lenders

With all the lenders under the 1 banner we have all the options to suit your personal circumstances

Meet George, the right expert to sort out your finance.

Once we have determined your finance needs, we will
find you the most appropriate option in conjunction
with the lowest rate, fees and charges possible for your
circumstances.

Would you like to find out more?

What's required to apply for a pre approval?

We try and keep process as simple as possible, however the minimum requirements are:

  • Two Forms of ID
  • 2 Recent Pay slips
  • Bank Statements
How long does it take to get a pre approval?

We can have you pre approved in as little as 24 hours, however this depends on the lender choice and if all the documents have been provided from the beginning.

How much deposit do I need saved?

We can help you with as little as 5% deposit if you're a first home buyer and as little as 5% plus stamp duty if you're buying your next home. If you're looking at buying an investment property than it would be good to have around 10% saved.

How does a 98% Home Loan work?

Basically, you are able to borrow with as little as 5% of the purchase price excluding the stamp duty and the lenders mortgage insurance is added to the loan.

How do I get a no LMI loan as a goverment employee?

They're no specific products that are no LMI loans for goverment employees, but we have a great relationship with some of our lenders and have products available with as little as 10% deposit without Lenders Mortgage Insurance