Types of home loans

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A guide to the different types of home loans

Updated March 12, 2024
Written by James Hurwood
Reviewed by Stephen Zeller

Expert tips for choosing the right loan type for you

As our General Manager of Money, Stephen Zeller wants to see consumers end up with home loans that are meeting their financial needs. To that end, he’s got some tips for people trying to decide what type of home loan might be suitable for them:

Stephen Zeller
General Manager – Money

A low rate isn’t always everything

Generally speaking, the lower the interest rate the more you’ll save on your home loan long-term. However, by taking the most competitive interest rate on offer you might be forfeiting certain features and benefits that ultimately might prove more beneficial for you in the longer term (like say, a mortgage offset account).

Shop around

The bank you’ve been with for years may not necessarily have the most competitive home loan product. You should always shop around and compare a variety of available home loans, or seek the services of an expert such as our Home Loan Specialists, who can help you compare your options.

We’re here to help

There’s a huge and ever-expanding range of home loan products on the market, which can make it tricky to find one that’s appropriate for you and your needs. Our Home Lending Specialists are on hand to guide you through the process and help you search for a home loan that suits your circumstances.

Fixed, variable and split rate home loans

Fixed rate home loans

Variable rate home loans

Split rate home loans

Owner-occupied vs investment home loans

Owner-occupied home loans

Investment home loans

Principal & interest vs interest-only home loans

Principal & interest home loans

Interest-only home loans

Some less common home loan types

Low doc home loans

Non-conforming home loans

Construction home loans

Bridging loans

Line of credit home loans

Reverse mortgage

Meet our home loans expert, Stephen Zeller

Stephen Zeller
General Manager – Money

Stephen has more than 30 years of experience in the financial services industry and holds a Certificate IV in Finance and Mortgage Broking. He’s also a member of both the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) and the Mortgage and Finance Association of Australia (MFAA).

Stephen leads our team of Home Loan Specialists, and reviews and contributes to Compare the Market’s banking-relating content to ensure it’s as helpful and empowering as possible for our readers.