Buying My First Home
Types of Loans
Basic Variable Home Loans
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TYPES OF LOANS
Basic Variable Home Loans
Basic variable loans are loans with lower interest rates, but fewer features than a standard variable loan. The interest rate can rise or fall over the term of the loan. These loans are typically "no frills" products, often around 0.5% - 0.7% less than the standard variable rate and are used by people who want a variable rate, but may not qualify for or be interested in a professional package home loan.
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