Book your free 15 minute chat now.

Have questions about home loans in general? Not sure where to start? Or just want to know what the best rate and loan for you might be? We can answer all that and more, in a free 15 minute chat with us. Just pick a date and time that works for you and we’ll call you.

A quick chat to understand what you’re hoping to achieve and if we can help. If we can’t, we’ll let you know that too.

Once we chat, we come back to you with a shortlist of home loan options to consider – which we then discuss in more detail.

Using us doesn’t cost you anything - and can save you a lot by helping you find the most suitable loan option.

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What’s that?

LVR, LMI, Comparison rate, interest only, conveyancing and more! When we were researching our home loan options, we kept seeing all this jargon everywhere. Everyone else seemed to know what LMI meant but we…erm.. weren’t so clear. We’ve created a whole page for people like us that like their answers without a side of gobbledygook.

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  • 1. Is it more expensive for me to use you instead of going directly to the bank?
     

    Absolutely not. By using Hihome to apply for your loan, we can often get you better rates than what you could by going directly to your bank. First, we’ll show you the lowest rates from over 40 lenders, then we get some info, do lots more research, and find the one best option. Finally, we’ll negotiate with the bank to get you an even better rate, if possible.

    You never pay more than you would by going directly to the bank, but often end up paying a lot less - by going with a different bank, or paying a lower rate, or both! ?

  • 2. What is LMI?
     

    LMI stands for Lender’s Mortgage Insurance. This protects the bank in case you default on your home loan. This is an additional charge, typically if your deposit is less than 20% of the purchase price.

    If you want to buy a property for $500,000 and have $50,000 (10%) saved for a deposit, the bank may charge you LMI. LMI is a once-off payment, and can often be added to your loan amount.

  • 3. What is LVR?
     

    LVR stands for Loan to Value Ratio. The amount of money that a bank will lend you based on how much the property is worth. For example, an 80% LVR means the bank is willing to lend up to 80% of what the property is worth. If you’re buying a property for $500,000, an 80% LVR loan is $400,000. In this example, you would need to have $100,000 (20% of $500,000) saved up for a deposit.

© Hi home Financial Pty Ltd ABN 67 627 814 073. Credit Representative 512228 is authorised under Australian Credit Licence 389328. This website provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances. Subject to lenders terms and conditions, fees and charges and eligibility criteria apply.
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