Loan Types

Choosing a home loan is rarely about finding the lowest advertised rate. The right loan depends on your borrowing capacity, your income type (PAYG, self-employed, contractor), the size of your deposit, whether you'll occupy or rent the property, and how you plan to manage rate moves over the next 5-10 years. These guides walk through the major decisions: fixed vs variable, principal and interest vs interest-only, low-deposit options, professional packages, offset and redraw features, and the difference between the headline interest rate and the all-in comparison rate.

The comparison rate captures the interest rate plus most ongoing fees. A 5.89% loan with high account-keeping fees can cost more than a 6.05% loan with minimal fees, which is why the Australian government requires comparison rates on all home loan advertising. Beyond rate, weigh loan features (100% offset, free redraw, extra repayment caps on fixed loans), LMI treatment if your deposit is under 20%, professional-package discounts, and lender policy fit — different lenders can lend $50,000-$100,000 more than others on the same application.

Walking into a single bank gives you that bank's products. Stryve compares 40+ lenders against your specific income, deposit, debts, and goals, then walks you through the shortlist with full transparency on the commission we'd earn from each. The service is free for borrowers; lenders pay us when your loan settles. Use the guides below to build your knowledge, then book a free 30-minute call when you want lender-specific numbers.