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Michelle Schaafsma

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Mortgage Broker Beecroft

Renowned for its federation houses and well-kept gardens, Beecroft boasts some of the finest homes in the area. Some Beecroft homes are heritage protected, others beautifully restored, but they all come with spacious backyards that are made for weekend barbeques. 

Financing Your Beecroft Move: Explore Home Loan & Investment Solutions

According to realestate.com.au, the average median house price in Beecroft is $2,384,000, and the average Beecroft units are trending at $1,350,000. If you are considering purchasing a property in Beecroft, contact us today.

Michelle Schaafsma and Jeff Fullick, your local Mortgage Choice brokers in Beecroft, are here to guide you through the entire process. With a combined 30+ years of experience in finance and property investment, we have the expertise to navigate the complex world of mortgages and find the best solution for your unique needs.

              

 

Start your home loan journey today

Should you choose a fixed or variable interest rate?

When it comes time to choose the type of home loan you should have, it can feel overwhelming. To help you through this decision, we've outlined the pros and cons of fixed and variable interest rates. Of course, we are also available to discuss your options with you directly.

Pros and cons of a fixed rate

A fixed rate loan is a loan with 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, with the total loan term being 30 years

Pros:

  • Repayments do not rise when other interest rates rise
  • Provides peace of mind for borrowers concerned about rate rises
  • Allows more precise budgeting

Cons:

  • Repayments do not fall if interest rates fall
  • Allows only limited additional payments
  • You may be penalised for early payout of the loan

Pros and cons of a variable rate

A variable interest rate can change over time. So if you choose a variable-rate home loan, the interest you are charged can increase and/or decrease throughout the loan term.

Pros

  • Variable rate home loans typically offer more flexibility and features
  • You may be able to make additional repayments on top of your minimum repayments
  • If interest rates fall, the amount of interest you are charged may decrease.

Cons

  • Budgeting can be difficult due to not knowing exactly how much your repayments will be if rates change.
  • If interest rates rise, the amount of interest you are charged may increase.

            

Find out how much you can borrow.

Find out how much you can borrow in just a few minutes! Use our helpful home loan calculators to determine your borrowing capacity, so you can have confidence when it comes time to find the perfect home.

 Try our home loan calculator here. 

Contact Michelle Schaafsma or Jeff Fullick  at 0488 858 056 or Schedule a callback

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