At SGS Mortgages, we know that no two homebuyers are the same. Whether you’re a first-time buyer, an investor, or looking to buy with a partner, our Mortgage Consultants are here to guide you through the process. With a range of new home loan products emerging, we can help you find the right first home buyer loan, package it to suit your unique circumstances, and make home ownership more accessible.
Flexible Borrowing Options to Suit Your Lifestyle
When borrowing money for a home, there are several ways to structure your loan. The choice you make will affect how much you can borrow and the types of loans you qualify for. At SGS Mortgages, we offer flexible solutions to help you secure the property you want. Our mortgage brokers in Melbourne can help tailor these options to your lifestyle and financial goals. Here are some of the solutions we offer:
Property Share: Buy a property with friends and keep your finances separate.
Guarantor Support: Use a family member or friend as a guarantor to increase your borrowing power.
Low Documentation Loans: Ideal for self-employed individuals who may not have the standard financial paperwork.
HOW IT WORKS
Our Home Loan Products
1. Variable Rate Loans
A popular option, Standard Variable Loans allow you to benefit from interest rate fluctuations over time. The flexibility of making extra repayments can significantly reduce the length and cost of your mortgage. However, if interest rates rise, your repayments could increase, so it’s important to consider your household budget. Basic Variable Loans offer a discounted interest rate but have fewer features, such as limited repayment flexibility and no redraw facility
2. Fixed Rate Loans
Lock in a Fixed Rate Home Loan for a set period (typically 1-5 years) to enjoy predictable repayments, regardless of market changes. At the end of the fixed period, you can either re-fix your rate or move to a variable loan. Fixed Rate Loans are ideal for those who prefer stability and want to manage their budget more effectively.
3. Split Rate Loans
Not sure whether to choose a variable or fixed rate? A Split Rate Loan allows you to combine the best of both worlds. By splitting your loan, you can enjoy the flexibility of a variable rate on one portion, while locking in the stability of a fixed rate on the other. This loan type gives you flexibility while offering peace of mind for part of your loan.
4. Interest Only Loans
An Interest Only Loan allows you to pay only the interest on your loan for a set period, typically 1-5 years. This option can help you lower your monthly repayments during the interest-only period, with the principal being repaid later. Ideal for investors who plan to sell the property and use capital gains to pay off the principal, or for those who need more flexibility in the short term.
5. Line of Credit Loans
A Line of Credit Loan offers maximum flexibility. You can access the equity in your home by drawing funds when needed. Many borrowers use a line of credit to pay off their mortgage faster, by directing income straight into the loan and reducing interest charges. This loan type can be an excellent choice for those with fluctuating incomes or who require access to additional funds for renovation or investment.
6. Introductory / Honeymoon Loans
Looking for an affordable start to your new home loan? Introductory Loans (also known as Honeymoon Loans) offer a discounted interest rate for the first 6 to 12 months, before reverting to the standard variable rate. Ideal for first-time buyers, this option helps ease the financial burden in the early stages of home ownership.
7. Low Doc Loans
If you’re self-employed and unable to provide full documentation, Low Doc Loans may be the solution for you. These loans require less paperwork, but they often come with higher interest rates and larger deposit requirements due to the increased lender risk. While it’s generally better to provide full documentation, a low doc loan can be your opportunity to get into the property market when other options aren’t available.
Looking for Home loan?
Get the Right Home Loan for You
Choosing the right home loan is one of the most important decisions you’ll make. At SGS Mortgages, our Mortgage Consultants take the time to understand your goals and financial situation, ensuring we find a loan that meets your needs and future plans.
Need advice on which loan product is best for you?
Contact one of our expert consultants today for a personalized consultation and let us help you find the perfect loan.
Frequently Asked Questions
What is an SMSF loan?
A loan used by your Self-Managed Super Fund to buy investment property.
Can I use my super to buy property?
Yes, if it’s through a compliant SMSF setup.
Why choose SGS Mortgages?
We offer expert guidance and tailored SMSF loan solutions.
What are the benefits?
Grow your super, diversify investments, and gain more control.
What type of property can my SMSF buy?
Your SMSF can buy residential or commercial property for investment only. It can’t be used by you or your family and must meet ATO rules.
