Rates

The type of interest rate you choose depends on several factors, including your personal situation, financial position, how long you plan to own the property, and whether you expect interest rates to rise or fall.

Some lenders allow borrowers to split their home loan, with part of the loan on a variable rate and the remainder on a fixed rate.

This is a big decision, and our Gem Wealth Finance Home Loan Specialists are here to help you choose the option that best suits your needs.

A comparison rate is an indicative interest rate designed to help consumers compare home loans. Lenders are generally required to display comparison rates alongside their advertised interest rates.

Also known as the ‘true’ or ‘real’ rate, the comparison rate calculates the average interest rate while factoring in any upfront or ongoing fees over the loan term. It operates under fixed conditions, typically based on a $150,000 loan over a 25-year period with a principal and interest repayment method.

Your new fixed rate will generally take effect when your next monthly repayment is due. If you experience any issues, please contact your lender directly for assistance.