There are many different home loans available on the market these days. Your Prime Financial Advisor will explain how different loans may fit your needs and goals and handle the loan negotiations and paperwork all the way to settlement. Here are some of the most popular home loans:
- Variable Loans - A home loan with an interest rate that may change over time. If you choose a variable loan, you may take advantage of any interest rate decreases over your loan's term. If your rate decreases, it means you pay less interest on the home loan balance.
- Fixed Loans - A home loan in which your interest rate is set for an agreed period of time. This loan protects you against rate rises during the fixed period and helps with budgeting in the first few years of your loan.
- Split Loans - A home loan where you fix part of the loan and maintain the rest at the variable rate. This home loan allows you to take advantage of variable loan flexibility.
- Basic Home Loan - A home loan with simple mortgage that offers a very low variable interest rate with little or no regular fees. However, this loan has fewer features and lacks flexibility.
- Professional Packages - A home loan with a bundle of banking products, generous interest rate discounts and other benefits and discounts that could help you save more on your home loan.
- Introductory Rate Loans - A home loan that is valid for the first 12 months of your loan. This home loan helps you pay off more of your loan faster and protects you against interest rate rises.
These are only some of the hundreds of home loans available. To learn more about these options please contact us.