Whether you're buying your first home, refinancing, investing or building, we’ll help you choose the right home loan for you.

Need more information? Get in touch! 

Home Loan Comparison FAQs

Which home loan is right for me?

Choosing the right home loan depends on a range of factors, such as your personal circumstances, financial goals, and the type of property you want to purchase. For instance, if you plan to live in the home, you may be interested in a different type of loan than if you’re purchasing an investment property.

Similarly, if you’re buying a newly built home, you may need a different loan product than if you’re purchasing an existing property.

There are also additional features and benefits that may be important to you, such as an offset account, the ability to make extra repayments, or a lower interest rate. It's important to consider these factors and compare the home loan interest rates when choosing a home loan, as they can have a significant impact on the cost of your loan and your ability to repay it.

To determine which home loan is right for you, we recommend speaking with one of our lending specialists about the home loan process. Our team can help you understand the different loan options available and provide guidance on which loan best meets your needs. Contact us today to make an inquiry.

What should I consider when comparing home loans?

When it comes to drawing a home loans comparison, there are several key factors to consider to ensure you’re getting the best deal for your unique financial situation. Here are some things to keep in mind:

• Interest rates: The interest rate you’re offered on your home loan can have a significant impact on the cost of your loan. It's important to compare interest rates between different lenders and loan products to ensure you’re getting a competitive rate.
• Comparison rates: A comparison rate is the interest rate plus most fees and charges relating to a loan. The comparison rate helps you work out the true cost of a loan and allows you to compare loans from different lenders to find out how much it will cost you.
• Fees and charges: Home loans can come with a range of fees and charges, such as application fees, ongoing fees, and early repayment fees. These fees can add up over time, so it's important to consider the total cost of the loan, including any fees and charges.
• Loan features: Different home loans come with different features, such as offset accounts, redraw facilities, and the ability to make extra repayments. Consider which features are important to you and how they might impact the cost and flexibility of your loan.
• Loan term: The length of your loan term can impact your monthly repayments and the total cost of your loan. Determine whether a longer or shorter loan term is right for your financial situation and goals.

How can I compare home loan rates?

Comparing home loan rates can be a great way to find a mortgage that fits your needs and budget. Here are some steps you can take to compare home loan rates:

• Research online: You can start by researching online to get an idea of the current home loan rates offered by different lenders. To find out more about Qudos Bank’s home loan rates, you can use our home loan comparison calculator.
• Consider the type of loan: Make sure you compare home loan rates for the same type of loan, such as a fixed-rate or variable-rate mortgage. The type of loan you choose can have a significant impact on the interest rate and other terms.
• Check the fees and charges: In addition to the interest rate, you should also consider the fees and charges associated with the loan. This can include application fees, ongoing fees, and early repayment fees. Make sure you understand all the fees and charges associated with the loan before making a decision.
• Seek professional advice: If you're unsure about how to compare home loan rates, you may want to seek advice from a professional or contact the lending specialists at Qudos Bank.

What are the different types of home loans that are available?

Qudos Bank offers a range of home loans to suit different financial situations and goals. Here are some of the different types of home loans that you may want to consider:

• Fixed Rate Home Loans: With a fixed rate home loan, the interest rate remains the same for a set period of time, typically between one and five years. This can provide certainty around your repayments, making budgeting easier.
• Variable Rate Home Loans: With a variable rate home loan, the interest rate can fluctuate over time in response to market conditions. This can be a good option if you think interest rates may fall, as your repayments will decrease. However, it's important to consider that your repayments may also increase if interest rates rise.
• Package Home Loans: A package home loan typically bundles together a range of products and services, such as a credit card, transaction account, and insurance, into one package. Although this can provide convenience and potentially save you money on additional fees and charges, it’s important to note that package home loans generally have a package fee.
• Line of Credit Home Loans: A line of credit home loan allows you to borrow against the equity in your property. This can be a flexible option if you have significant equity in your property, as you can access funds as you need them.
• Construction Loans: A construction loan provides funding for the construction of a new home or the renovation of an existing property. These loans typically have a different structure than regular home loans, as the funds are released in stages as the construction progresses.
• Investment Property Loans: An investment property loan is designed for those who want to purchase a property for investment purposes, rather than as a primary residence. These loans can have different interest rates and fees than owner-occupied home loans.