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Home Equity Loans

Home Equity Loans

Buying your own home is probably the biggest investment you’ll ever make. Your home is also likely to be your biggest asset. Why not put this asset to work by taking out a home equity loan?

Equity is simply the difference between what your property is worth and what you owe. You may be able to borrow against this amount to renovate, invest in shares or managed funds, buy another property or refinance your mortgage.

With this type of home loan, you can access funds up to your approved limit at any time. Your salary can be paid directly into the loan account and you can access the balance of the loan at any time - like a credit card.

Have you heard about home equity loans, but aren't sure if they're right for you? There are certain times when a home equity loan could be ideal just as there are times when more traditional mortgages might be more suitable.

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How much can I borrow?

Find out how much you can borrow based on your current salary and existing financial commitments.

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What will my repayments be?

Work out what your minimum weekly, fortnightly or monthly loan repayments would be.

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What if I make extra repayments?

You may be able to save years and thousands off your loan by increasing your monthly repayment.

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What about Stamp Duty?

When you purchase a new property you will have to pay Stamp Duty which varies from state to state.

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