Who Does Reduce Home Loans deal with?
Reduce Home Loans are a multi-funded organisation. We have access to some of the biggest (and smallest!) funders around. This enables us access to hundreds of loans - giving you peace of mind knowing your loan is the perfect one for you!
Clicking on a funder will display a short description
about the funder, including what loans they specialise in
What types of loans does Reduce offer?
Reduce Home Loans caters for a variety of home, personal and commercial loans, for a more detailed explination on what sort of loan is right for you call contact the Reduce sales team
Interest Only Home Loan
Interest only home loans are mostly flexible, generally allowing extra repayments during the interest only period, allowing you to pay the loan off quickly. If you only make the interest only payments, the initial home loan balance stays the same, as there is no reduction of the principal. The home loan reverts to principal and interest at the end of the fixed term. Interest only home loan terms are usually only for 1-5.
Standard Variable Home Loan
The rate charged on a variable loan moves up or down in accordance with movements in interest rates, including the cash rate as set by the Reserve Bank. Variable loans are suitable if you are looking to pay off a consistent amount over the full term of the loan. This type of loan is traditionally the most flexible and may include additional features such as an offset account and the ability to make extra repayments, to redraw funds or to split your loan.
Fixed Rate Home Loan
A fixed rate loan is a loan that has a fixed interest rate and therefore fixed loan repayments. The time period of these loans can vary, but you can usually “lock in” your repayments for between 1-5 years. Although the fixed rate period may be 3 years, the total length of the loan itself may be 25 or 30 years. At the end of the fixed loan period you can decide whether to fix the loan again for another period of time at the current market rates or convert the loan to a variable interest rate for the remaining time left of the loan. Fixed rate can appeal to borrowers who need to have the security of a fixed budget, as they can be certain of their repayments for the fixed period.
Construction Loans
If you're building a new home, Reduce Home Loans Construction Home Loans makes the process simple by reducing the interest payments during the construction period. You simple pay interest only on the balance as it is drawdown. We make up to 5 progressive payments directly to your builder. The Builder is paid in stages to ensure guidelines are met to protect you, our client. We use a valuer to assess the land and proposed construction initially and on an ongoing basis during the construction period to monitor progress of your new home. We make progressive payments to the Builder only after the valuer has confirmed that each stage has been completed AND you are satisfied with the completed work. Our Construction Loans are ideal for purchasing land (where there is the intention to build), Constructing a residential property on land already held and/or completing the land purchase and construction. Reduce Home Loans also has access to a number of highly attractive house-and-land packages.
Lo Doc Home Loan
For many people, the biggest barrier to buying a home is gathering all the documents necessary to qualify for a home loan. Lo Doc and No Doc Loans solve this problem to a great extent, offering flexibility to self-employed applicants, people who may have had a lag in finalising their financials, those whose affairs are structured in a way that may not necessarily reflect on paper their true income, or even those that might have multiple companies and trusts and simply want to cut through the red tape. Reduce Home Loans Lo Doc Home Loan is designed to help you obtain the finance you need with a self-certification of your income, and without the usual hassles of financial statements or tax returns!