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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Interest rates and comparison rates: What is the difference?
Learn the difference between interest rates and comparison rates, how they affect your home loan, and why understanding both matters when choosing the right loan.
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Is an interest-only home loan a good option for buying my first home?
Understand how interest-only home loans work and whether they’re a smart move for first home buyers. Explore the pros, cons and what to consider before deciding.
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Understanding your home loan repayment schedule: Is weekly, fortnightly or monthly best?
Understand how weekly, fortnightly or monthly home loan repayments work, and which one could help you save interest and pay off your loan faster. Learn what’s right for you with this simple guide.
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Are there downsides to offset accounts?
Thinking about using an offset account with your home loan? Learn the pros, potential drawbacks, and when an offset account might not be the best fit.
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How does an offset account work?
We explain how offset accounts work and how they stack up against redraw facilities and high-interest savings accounts.
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What is an offset account?
Learn how an offset account works, how it helps reduce the interest on your home loan, and whether it’s the right fit for you.
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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.