Beginner's guide to home loans

Undo-ing the jargon used in home loans

Hot topics

Hot topic #
01

What is LMI?

LMI, also known as Lender’s Mortgage Insurance, protects lenders in the event that aborrower can’t repay their mortgage.
Read on
Hot topic #
02

What is a redraw facility?

A redraw facility gives you access to additional repayments that you’ve made, over and above the minimum monthly repayments.
Read on
Hot topic #
03

What is a variable rate home loan?

It contains an interest rate that changes throughout the term of the loan, depending on a number of different factors.
Read on
What is stamp duty?
Stamp duty is a general tax imposed by the state government on the purchase or transfer of almost any real estate.
Read on
View answer
View answer
What is conveyancing?
Entering the home buying process can be complex, but understanding the role of conveyancing can make it smoother.
Read on
View answer
View answer
What is a cooling off period?
A cooling off period allows you to change your mind about the purchase of your home, within the time stated.
Read on
View answer
View answer
What is a settlement date?
It’s the day your new lender takes possession of your home's title deeds from your old lender.
Read on
View answer
View answer
What is a break fee?
If the fixed rate period isn’t up yet, exiting a home loan early may incur a break fee,
Read on
View answer
View answer
What are basis points?
Basis points are the unit of measurement for interest rates, where one basis point equals 0.01% per annum.
Read on
View answer
View answer

Supporting you every step of the way

Icon of a woman smiling
Icon of a man giving thumbs up
Icon of a man wearing glasses

Hi there!

How can we help?

We pride ourselves on our service and are available to help 7 days a week.
Chat with us

Everything you want to know

ALL IN ONE PLACE
Buying a home or looking to make the
switch? Let’s undo the jargon and make
home loans simple.
Learn with Unloan

There's plenty more to love

Learn more

Be rewarded

0.30
%
p.a.
Additional rate discount in year 30.
No negotiations needed.
Find out more

Say no to fees

Application Fees

Banking Fees

Account Fees

Change Fees

Exit Fees

In certain circumstances LMI premium may apply.
Learn more

Save interest

Offset your interest with unlimited free redraw.
How redraw works
image of a coin
image of a piggy bank
See all of Unloan's features

Calculations are not a loan approval. Applications are subject to credit approval, satisfactory security and minimum deposit requirements. Full terms and conditions will be set out in our loan offer, if an offer is made.

^ Unloan offers a 0.01% per annum discount on the Unloan Live-In rate or Unloan Invest rate upon settlement. On each anniversary of your loan’s settlement date (or the day prior to the anniversary of your loan’s settlement date if your loan settled on 29th February and it is a leap year) the margin discount will increase by a further 0.01% per annum up to a maximum discount of 0.30% per annum. This discount is applied to each loan that you have with Unloan. If you have multiple loans (e.g. one investor and one live-in loan), they will each have a discount calculated based on when you settled each loan. Unloan may withdraw this discount at any time.

*Comparison rate is calculated on a $150,000 secured loan over a 25 year term. 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.