Beginner’s Guide to Home Loans

Hot topics

Hot topic #
01

What is loan to value ratio (LVR)?

Learn how loan to value ratio (LVR) affects your borrowing power, interest rates, and deposit requirements. Discover what lenders look for and how to improve your LVR before applying.
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Hot topic #
02

What is equity?

Understand what equity means in a home loan, how it’s calculated, and how to use it to buy, refinance or invest in property.
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Hot topic #
03

What is a discharge fee?

Understand what a mortgage discharge fee is, when it applies, and how it affects your home loan. Learn the costs, timing, and steps involved when closing your loan early or switching lenders.
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What is loan amortisation?
Understand how loan amortisation works, how it affects your home loan repayments, and how you can use it to pay off your loan faster and save more.
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Can I include my student debt in a debt consolidation loan?
Find out if you can combine student loans with other debts in a debt consolidation loan. Learn how it works, what lenders consider, and if it’s the right move for your financial goals.
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What are the features and benefits of a redraw facility?
Learn how a home loan redraw facility works, its key benefits, and how it can help you access extra repayments when you need them most.
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What is a mortgage prisoner?
Stuck in a loan you can’t refinance? Learn what being a mortgage prisoner means, why it happens, and how Australians can break free.
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Refinance cashback offers: Are they really worth it?
Looking at refinance cashback offers? Understand how they work, the real costs, and if they’re worth it before you make the switch.
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All you need to know about home loan break fees
Breaking a fixed-rate home loan early? Learn what break fees are, when they apply, how they’re calculated, and how to avoid them.
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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.