
Buying My First Home
Types of Loans
Discount Variable, Honeymoon
LOANS
TYPES OF LOANS
Discount Variable, Honeymoon & Introductory Home Loans
These are variable rate loans with a discounted interest rate off the standard variable rate (commonly over 1%), lasting a certain period of time, usually one year. After this period, they normally revert back to standard variable rates. Sometimes, depending on the lender, interest rates can be fixed or capped during the initial/honeymoon period. These rates are among the lowest rates available and are often used by first home buyers or even investors.
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