Blue Fox Finance - Mortgage Broker Brisbane Blue Fox Finance - Mortgage Broker Brisbane
Mortgage Broker Mobile Menu Call our Mortgage Broker Brisbane now!

Find out the best interest rates available:

Owner-occupied Home Loan
3.59% p.a.      3.96% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.
Investment Home Loan
3.88% p.a.      4.06% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an investment residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.
Car Loan
7.25% p.a.      9.05% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *The interest rate is available to approved applicants financing a motor vehicle on a secured consumer fixed rate loan over 60 months. The comparison rate is based on a 5 year secured fixed rate loan of $30,000. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Applications for finance are subject to normal credit assessment. Conditions, fees & charges apply.
Personal Loan
10.99% p.a.      11.87% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *The interest rate is available to approved applicants getting a fixed rate personal loan over 60 months. The comparison rate is based on a 5 year secured fixed rate loan of $30,000. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Applications for finance are subject to normal credit assessment. Brokerage not included. Conditions, fees & charges apply.
Refinances available from:
3.59% p.a.      3.96% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.
Pre-approvals available from:
3.59% p.a.      3.96% p.a. CR*
The fine print...
The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy. Whilst we aim to update our site frequently, interest rates change frequently, please contact us to confirm the latest offers. *Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories. The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years secured by an owner-occupied residential property. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

The different types of home loans

The Different Types of Home Loans

The range of home loans available in this day and age is truly staggering, and the different types of home loans available to consumers can be really confusing. This article is designed to, very simply, educate you on the differences between the various types of home loans available to you.

Variable Interest Rate

This is the most common type of loan issued by banks and other lenders. Variable loans generally give the customer more flexibility, and the ability to pay out their loan without any break fees. The downside to a variable interest rate is that your bank has the option to increase/decrease the interest rate at any time, which will affect your monthly repayments. The term “Standard Variable Rate” or SVR is thrown around quite a lot too, this is just an interest rate used by many banks as a reference point when comparing home loan products – you will see this used a couple of times through this article.

Fixed Interest Rate

A fixed interest rate is exactly what it sounds like – the interest paid on the loan is a fixed amount over a fixed period of time, for example: a 3 year fixed rate home loan at 3.99% will give you certainty in knowing exactly what your repayments will be for the first 3 years. At the end of the 3 years, the interest rate will default to that lenders SVR (unless otherwise specified) – at which point you can look at fixing it again, changing products, or leaving it as is. The major downside to a fixed interest rate is the lack of flexibility: should you choose to sell or refinance your house during your fixed period, you will be forced to pay the banks a “Break fee”, which can be very substantial (I have seen break fees above $30,000!).

Introductory (or Honeymoon) Rates

Banks often use introductory rates to entice new customers with a cheaper interest rate for a set period of time after the setup of their loan. For example, a 2 year introductory rate of 3.75% will give you very low repayments for the first 2 years (the interest rate is still variable, however), but will usually default to the SVR at the end of the 2 years – at which point you can request your bank reduces your rate, or look into refinancing to a cheaper interest rate.

Basic Home Loan

A basic home loan usually has a low interest rate, and minimal fees, but lacks the features of its more expensive counterparts. A basic home loan is a great option for many borrowers, as it will often be the cheapest option. Some examples of people that may not want a basic home loan are:

Professional Package

This type of home loan generally provides all the flexibility and features you could want in a home loan, for one annual fee. I have my home loan under a professional package because with it I get the following:

And whilst this isn’t the cheapest option, it’s very easy and convenient for me to have all my banking, loans and insurances taken care of under the one package, with just the one annual fee. It’s not something that will suit everyone, but some people, like myself, will find this suits them perfectly.

There are other types of home loans, but the above mentioned are what you will come across the vast majority of the time. If you still have no idea what any of this means, or what would be best for yourself, please talk to your broker or banker.

Last updated: 
06 January, 2018
       Author: 
Zak Avery