Home Loans are the most common form of property loans. They are offered to the purchasers of residential properties seeking finance, by most lending institutions in Australia. The home loan market is highly competitive and the process of obtaining a home loan is more complex than most people realise.
Investment property loans are targeted at anyone seeking a mortgage to fund the purchase of an existing property for the purpose of obtaining ongoing rental income.
Construction loans of the residential variety, are specifically targeted toward people building a new home, for themselves. They provide for progress payments to the builder.
Development loans are targeted at investors building residential property to retain on a long term basis and are offered as residential loans, rather than commercial loans.
Commercial loans involve far greater sums of money than either development loans or construction loans, and are targeted at professional property developers seeking profit.
Reverse mortgages help many Australians over 70 resolve a frustrating financial situation: owning a valuable home outright but not having sufficient income to meet their everyday needs.
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