Dont focus purely on the interest rate, what is the lender’s service level? Will they give you an answer in time of you needing finance? Do the features of the loan meet your needs and requirements?
Who gets the best home loan rates? People with simple applications and high deposits. For example a borrower borrowing 95% compared to 50% will get a different rate. People who have a large loan, if you meet the category ($1,000,000 and above generally) you will get better rates and we can negotiate
owner occupiers have better rates compared to Investment
P&I facilities have better rates then IO
Lenders who offer the best rates in town generally require the most simplest of borrowers. What if this lender doesn’t accept your circumstances
Know your needs – do you need an offset account, extra repayments, variable or fixed rate loan
Know the total cost of the loan – what is the LMI premium this changes as per lender, what is the annual package fee?