Learn
Learn · Home loans · 6 modules
Home loans, from the repayment to the offset.
6 short modules, 3 to 4 minutes each
Basics
If you’ve never had a home loan- How home loan repayments workWhat each monthly repayment pays for, why it’s mostly interest at first, and what the loan’s length does.4 minutes · 3 pages and a questionStart
- Your deposit and the LVRHow much of the home’s value you borrow, and why lenders treat 80% as a line.3 minutes · 2 pages and a questionStart
- The advertised rate and the comparison rateWhy every home loan shows two rates, and what the second one adds in.3 minutes · 2 pages and a questionStart
Going further
Once you know how a repayment works- Fixed and variable ratesA rate that can move, a rate held for a few years, and what happens when it ends.4 minutes · 3 pages and a questionStart
- Offset, redraw and extra repaymentsHow savings and extra repayments cut the interest, and the yearly fee a package can add.4 minutes · 3 pages and a questionStart
- Reading a real home loanThree real loans, each showing one thing the modules before taught.3 minutes · 3 pagesStart