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Different Loan Types

Identifying the right home loan is as important as finding the right property.

With over 100 home loans on the market, which one is right for you? Reliance Mortgage Group will take you through a step by step process in understanding your personal needs and tailoring a professional loan solution to meet those needs.

To provide additional support, go to our loan calculators to determine your loan commitments.

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Basic Home Loan

Basic Home Loan is a popular home loan due to its low interest rate. The facility offers very limited features and provides various repayment options.

Standard Variable Rate Home Loan

Standard Variable Rate Loans provide greater flexibility and loan features. Facility allows the option to fix all or part of the loan, extra repayments, offset arrangements and redraw. All these options are considered to be standard characteristics for this loan.

Fixed Rate Home Loan

With economic cycles constantly changing, picking the best time to protect your rate from increases, the Fixed Rate Home Loan provides such security. Allows investors and home owners the opportunity to better manage their cash flow and repayments.

Equity Loans or Lines of Credit

Equity Loans and Lines of Credit provide the opportunity for home owners and investors to take advantage of the equity in their property to complete renovations, holidays, invest for the future and cover large household expenses. The interest is normally on a variable rate and interest only.

Construction Loan

Construction loans provide support when building your own home or investment property. A construction loan allows you to draw money, as is required, whilst building. Along with the necessary documentation required when applying for a loan, construction loans also require a “fixed-price building contract” and “council approved plans”. These loans are usually interest only for the period of building and then become principal and interest once building is completed.

Low-Doc Loan

A Low- doc loan suits investors and self-employed borrowers which have the capacity to afford the loan repayments, however are unable the meet the ‘standard’ lending criteria. For example this could be due to self-employed clients having irregular income.