eChoice Home Loans

One of the simplest ways to own your home sooner is to pay the lowest rate possible and as few bank fees as possible.

If you don’t need the ‘bells and whistles’ that come with many loans (at a price), then a basic home loan could be the answer.

Lower interest rates

Popular with first home buyers, basic home loans typically offer interest rates of half to one per cent below the standard variable rate. Many also have lower ongoing fees.

In return for a lower interest rate, basic home loans have fewer features and can be less flexible. Some lenders may offer the option to pay for extra features when you need them. There may also be fees and charges if you decide to switch loans or lenders, or pay off the loan sooner.

At a glance

• lower interest rates
• lower ongoing fees
• minimal features
• less flexibility
• no additional repayments
• or owner/occupiers only