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Searching for a suitable home loan in today’s competitive market can be a challenge. At Focal Point Home Loans we can help you in choosing the right home loan facility. To start with, you need to establish the loan type based on your needs.

Honeymoon Home Loan
A loan which offers a low interest rate for the first year and then reverts to a standard variable rate for the remainder of the term. This is a great loan to get you started.

Professional Package Home Loan
Many lenders offer Professional Packages which give you a discounted interest rate based on the amount you are borrowing -- borrow more and you get a cheaper rate. Other incentives may be attached like fee-free credit cards or insurance products. An annual fee is generally charged on the loan, mostly around $300 to $400.

First Home Buyer Loan
First Home Buyer Home loan is a variable rate loan specifically designed for First Home Buyers. It is simple & easy to manage, yet flexible enough to change as your circumstances change.

Variable Rate Home Loans
Variable Rate Home loan is a fully featured variable rate home loan to assist with the purchase of owner-occupied or investment residential property. It is a home loan that is flexible enough to accommodate your changing circumstances and repayments can be tailored to suit your individual needs.

Fixed Rate Home Loan
Fixed Rate Home Loan allows you to lock in your rate for a period of 1 to 5 years, with the benefit of knowing that your repayments will stay the same for the chosen fixed period.
We also offer a unique feature on our Fixed Rate Home Loan. We offer the security of a fixed rate, with the flexibility of an Offset account. You will also have an Offset account which allows you to separately identify how much money you have saved and how much money you owe. You will have two accounts:

  1. A Fixed Rate Home Loan, and
  2. A savings/transactional account – known as the Offset Account

At a glance, you can see the balance of both accounts. The amount you have in your savings account is 100% offset against the amount you owe, reducing the interest payable on your loan. And you still have complete access to your money in the savings account for your everyday expenses.

Of course, if you do not wish to have the Offset facility, you can simply have the Fixed Rate Home Loan by itself.

Split Home Loan
Split Home Loan combines the flexibility of a variable rate and the certainty of a fixed rate. Your loan will be made up of different splits, with the loan amounts, repayment options and interest rate options determined by yourself when you set the loan up. Split loans also enable you to identify and isolate different parts of your loan for different reasons.

For example:
 Split 1 = Home Loan; Split 2 = Investment Property; Split 3 = Shares; Split 4 = Holiday.

Line of Credit
Line of Credit is a bit like a huge credit card secured by the equity in residential property. You have a credit limit and you have the flexibility of utilising the funds within your credit limit when you choose to. You only pay interest on the funds used and you can pay into the loan any amount whenever you want to.

There are two purposes for a Line of Credit facility:

  1. If you wish to pay down your loan as quickly as possible, you can manage your money to make it work hard against the interest accruing on your account.
  2. If you wish to build your wealth by accessing home equity for investment in property or shares.

100% Offset Home Loan
100% Offset Home Loan allows you to separately identify how much money you have saved and how much money you owe. You have two accounts:

1. A fully featured home loan, and
2. A savings/transactional account – known as the Offset Account

At a glance, you can see the balance of both accounts. The amount you have in your savings account is 100% offset against the amount you owe, reducing the interest payable on your loan. And you still have complete access to your money in the savings account for your everyday expenses.

Low-Doc Home Loan
Low-Doc Home Loan is a fully featured variable rate home loan for Owner-occupied or Investment property. It is available for self employed applicants who are not in a position to provide supporting evidence of income (e.g. tax returns & tax assessments), therefore reducing the amount of paperwork required to complete the loan application.

Instead of traditional proof of income, borrowers are simply required to complete a Lo-Doc Declaration, which outlines their income.

Lo-Doc Loans also have a maximum LVR (lend to valuation ration) of 80% of the property value with and without mortgage insurance.

Low Doc Line of Credit
Low Doc Home Loan is a fully featured Line of Credit for Owner-occupied or Investment property. It is available for self employed applicants who are not in a position to provide supporting evidence of income (e.g. tax returns and tax assessments), therefore reducing the amount of paperwork required to complete the loan application.

Instead of traditional proof of income, borrowers are simply required to complete a Low Doc Declaration, which outlines their income.

Low Doc Loans also have a maximum LVR (lend to valuation ratio) of 80% of the property value with and without mortgage insurance.

 

 
 
 


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