Your Adelaide home loans expert

Find the right Adelaide home loans for your needs!

Ignoring considerations around the structure of your home loan and rushing into the first home loan that allows you to achieve your immediate financial needs is one of those costly mistakes you can avoid.

Spending a few moments to consider your ideal future and some of your long-term goals and dreams with your Rise High Mortgage Broker, will allow you to find the best-suited lender, product, and Home Loan structure for your needs in Adelaide.

In determining the ideal structure for your Adelaide home loan we will explore questions like:

• How long do you expect to live in Adelaide your home eg. is it a forever home or a stepping stone home that you plan to upgrade in the future? 
• When you do decide to upgrade, will you most likely want to keep your current Adelaide home as an investment property or sell your current home?  
• Should your Adelaide home loan have Interest Only repayments or Principal and Interest repayments?
• Should your Adelaide home loan have a Variable or Fixed Interest rate?
• Should you consider a Split Home Loan? 
• What is the ideal ownership structure of your home in Adelaide and will the borrowers of your Home Loan reflect this or be slightly different? 
• If refinancing, what is the value of your Adelaide home in comparison to the level of your debt? 
• If purchasing a new home in Adelaide, how much money have you saved and how much are you prepared to use for your home purchase? 
• Will you need to pay Lenders Mortgage Insurance? 
• Do you require a lender who will look favourably on your loan application despite any previous credit defaults or adverse credit history? 
• Do you have other expensive debts that you would like to roll into your home new loan? 
• How quickly will you need the home loan to be approved and settled? 

Choosing the right home loan features:

It’s easy to overlook the features when applying for an Adelaide home loan, but these extras can potentially save you a lot of money throughout the life of the home loan!

Some examples of loan features that you can consider include free redraw, offset accounts, direct salary crediting, and early repayment options. Some lenders will include features for free, whilst others add on extra charges for these.  Understanding what features you need can help you identify a lender that can offer you these features in a cost-effective way, and we are always here to help and guide you through this process.

In determining the Home Loan features that will benefit you we will explore questions like:  

• How quickly do you expect your savings balance to grow whilst also meeting your Adelaide home loan repayments? 
• Would you benefit from having an offset account (or multiple offset accounts) linked to your home loan? 
• Should you utilise a redraw feature and is this a good idea considering your future goals in Adelaide? 
• How do you like to manage your money? eg. do you simply run all your income and expenses out of one bank account or do you like to have multiple bank accounts marked for different purposes? 
• Do you want to have access to a physical bank branch in Adelaide or are you comfortable using internet banking and/or a banking app? 
• Would you like the ability to make extra repayments on your Adelaide home loan whenever you like?
• Would you like the ability to pay off your Adelaide home loan early without penalty? 
• Would you like Monthly home loan repayments or prefer weekly or fortnightly options? 
• If buying a home in Adelaide, are there any lender purchase cashbacks or other special offers?
• If refinancing, are there any lender refinance cashbacks on offer?

What is your home loan’s actual cost?

Although using the interest rate to compare home loans is a good starting point, it is important to also consider all of the fees and charges related to each of your home loan options. 

Upfront fees like application fees and establishment fees, and ongoing monthly or annual fees can make a big difference to the overall cost of your home loan. Some people rely on the Comparison rate of a home loan to compare loan products, but it is important to note that comparison rates are only useful for you if you are borrowing $150,000 over a 25-year loan term, as this is what the Comparison Rate calculations are based on.

To help you compare apples with apples and end up with a much more accurate comparison for your particular home loan amount and loan term, your Rise High Mortgage Broker will explore the thousands of home loan options across our extensive panel of lenders, preparing a detailed and simple comparison table to present you with the 5-6 best loan options that will support your goals in Adelaide.

The Interest of your Adelaide home loan

Interest rates can be fickle! So choosing the right home loan type can be a challenging decision. 

In helping you find the right loan product for your needs in Adelaide, our team will help you consider:

• pros and cons of Principal & Interest (P&I) loans and Interest Only (IO) loans, and
• advantages and disadvantages that come with choosing a a fixed, variable or split loan.