Just wanted to get a better understanding of this.
Variable Rate - Goes up and down dependant on RBA rate?
Fixed Rate - Is a fixed rate @4.8 / 5% can be anything for a fixed amount of time that doesnt change no matter what the rates are changed by the RBA?
Can someone explain to me what offset and redraw are? Keep seeing them mentioned, but not entirely sure what they do or what they are good for? Do i need one?
What are some things to take into consideration other than the rate that should be calculated into picking the right lender?
If im that keen now, im probably only going to have 10%, Well maybe a bit more but certainly not the 20% so id need to pay LMI. Maybe a chance for 15% but that might be too long away, I dont think that would avoid LMI either for me.
Variable Rate - Goes up and down dependant on RBA rate?
Fixed Rate - Is a fixed rate @4.8 / 5% can be anything for a fixed amount of time that doesnt change no matter what the rates are changed by the RBA?
Can someone explain to me what offset and redraw are? Keep seeing them mentioned, but not entirely sure what they do or what they are good for? Do i need one?
What are some things to take into consideration other than the rate that should be calculated into picking the right lender?
If im that keen now, im probably only going to have 10%, Well maybe a bit more but certainly not the 20% so id need to pay LMI. Maybe a chance for 15% but that might be too long away, I dont think that would avoid LMI either for me.