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Interest-Only Home Loans in Brisbane

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    Reliable Interest-Only Home Loans in Brisbane​

    Interest-only home loans are loans in which people borrow to pay only the interest on their interest-only mortgages for a fixed period, usually between 1 and 5 years, without paying off the principal loan amount. During this period, monthly repayments are much lower compared to standard principal and interest loans, which immediately frees up cash flow. This type of loan can greatly benefit a person who is going into property investment or simply someone who wants to manage their budget while maximising possible returns in the short term.

     

    Brisbane Home Loans offers its customers a wide range of interest-only mortgage loans, which adapt the loan strategies of the investor and real estate buyer to the details of their financial goals. Our interest-only mortgage brokers work closely with our clients to provide detailed rates, loan features, and repayment comparisons that come from selected leading lenders to offer them a great deal out of the lowest interest-only home loans.

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    Key Features of an Interest-Only Home Loan

    Lower Monthly Repayments (During Interest-Only Period):

    An interest-only loan works by paying off just the interest for a fixed period. For most mortgage products, this means that your repayments, or at least their amortisation component, will be relatively smaller than those with standard home loans. This, therefore, allows additional cash flow to be put towards other investments or financial goals while the loan is in the interest-only phase.

    Principal Payments Deferred:

    You will pay no principal during the interest-only period, so your loan balance will remain the same. Once the interest-only term expires, you will start making both principal and interest payments – which are higher than if you had made both from the outset.

    Flexible Options for Investors:

    Most interest-only variable loans will have a redraw facility over the variable component. Therefore, when you pay extra, you can redraw that money if you want. Again, yet more flexibility and control because, in case of some unforeseen emergency or commitment you may need to make at a later point, you can use those additional repayments.

    Transition to Principal and Interest Payments:

    Once the interest-only period runs out, the loan switches to a principal and interest structure, which means you will be paying much more since you will now be repaying both your interest and a portion of your principal. This can lead to very high increases in your repayments, so you’ll want to budget for this.

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    Benefits

    • Lower Initial Repayments: With interest-only loans for homes, you pay lower monthly amounts for the set period of interest-only, which may ease current financial pressures or otherwise be available for other uses, such as renovations or investments.
    • Maximised Cash Flow for Investors: One benefit that makes interest-only home mortgages attractive to property investors is the possibility of freeing up some cash for other expenses or investments. They may also benefit from property appreciation in the interest-only period with the lowest interest-only investment loans.

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    Consequences

    • Higher Payments after Interest-Only Period: After the interest-only period, the loan automatically switches to principal and interest payments. Those payments are quite a bit higher than the original interest-only mortgage loans, which could create a temporary financial problem unless they are factored into the budget.
    • No Reduction in Loan Principal: During these interest-only home mortgage phases, you actually do not pay off any principal of the loan. That means the total amount of the loan is not reduced. You are paying interest over the term, and the longer you can stay in the interest-only phase, the less will be accomplished towards repaying the loan.
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    Customers Testimonials

    Customers Testimonials

    It was Our First Home and We had No Idea. Thanks to The Team From Brisbane Home Loans
    Daniel and the team at Brisbane Home Loans were super helpful and friendly to me as it was my first home loan and I had no idea! They answered all my questions and were very hardworking. Would definitely recommend to a friend.

    Tom Harvey

    They Made Buying Our First Home Easy and Fun. Thanks
    The team at Brisbane Home loans have been super helpful and extremely professional to assist us with all our first home questions. will be recommending them to everyone I know looking to buy!

    Nathan Cook

    Thanks for Helping me Turn my Dream into a Reality
    Service was great, very informative and kept me up to date on all progress and all steps. Follow up after it was all done and dusted was also great. Took the stress out of it which was a great help for my busy life. I would totally recommend Dan and Jordan to anyone.

    Emma Schefe

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