Learn About Variable Loans for First Home Buyers

Variable Loan

A variable loan type is the one wherein the interest rate is calculated on the basis of changing interest rates of the market. The calculation of the interest rate is done with respect to the outstanding balance and the variable loan is connected with an underlying index or benchmark like the rate of federal funds.

Why should you Choose a Variable Loan

From the perspective of the borrower, the benefit of the variable loan can be explained with the low rates of interest as compared to the fixed loans. In most of the situations, the beginning of the term includes a lower interest rate, which gets adjusted through the loan term. This is beneficial in a market that has a declining rate of the interest, which will decrease the loan payments. However, if the underlying rate of the index rises, the payments on the interest tend to increase.

Variable Vs Fixed Loan

The most common loan types to choose from while buying or investing in a home are the fixed and variable loans. While the former leads to locking the interest rate over a certain time period the latter includes a fluctuating interest rate. In the fixed loan, the repayments remain unchanged whereas the variable loan interest rates can increase and decrease.

Why is it a smart choice to contact our mortgage brokers

Your expert guide in home buying journey

It is not an easy task to buy your first home. In fact it sure is one of the biggest financial decisions one makes in a lifetime. There is too much to know as it will be a completely new learning curve and no doubt there will be a lot of anxiety.

Therefore it definitely helps to have someone by your side throughout the home buying journey, making sure you understand the process every step of the way.

More options for all client profiles

Type of employment can have a bearing on what loan option and which bank will be best suited for you. We get cases for a lot of self employed clients who say that it has been difficult for them to get the desired loan. Our brokers specialise in loan applications for all types of employment. Whether you are self employed or on a casual or part time employment or having irregular incomes, our brokers have in-depth knowledge of the bank policies and can suggest a loan solution as per your unique situation.

Access to a wide range of loan products

Our brokers work for your benefit. They are not working for a particular bank, or vendor or any real estate agent. They have just your best interest in mind and therefore can compare a wide range of loan products.

Personalised attention

With Nfinity Financials you will get a personalised attention to your requirements, which you may not find with big corporate style financial institutions or banks. Our clients are our first priority.

Our Client Testimonials

See what our customers have to say about Nfinity Financials products, people and services.

“I don’t think mortgage process can be any easier that what Parag and team has done for me. Parag has done an extraordinary job in clearing all my doubts and coming forward with best option for me…”

Akhil Malik
Submitted on Sep 2020

Very Pleasant and Patient
“Parag has been very great with us. We have known Parag since we started to look for a house in 2017. He has helped us understand how the loan framework works in Australia and gave us the option to select the right bank…”

Vinod Nagaraja and Sangeeta Kumar
Submitted on 20 Jul 2020

“I recommend Nfinity Financials to everyone. Nfinity truly give you the sense “everything is under control” in an efficient, friendly and timely manner which is comforting when dealing with life changing financial transactions…”

Beachside Bartletts
Submitted on 2019

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