Types of Home Loans
All of our home loans, all in the one place.
We have Variable Rate home loans, Fixed Rate home loans, Home Loan Package options, and a staunch dedication to flexibility. Take a browse through what's on offer, or get in touch today.
Variable Rate Loans
|Back to Basics Loan|
This is a basic, low-cost loan that combines no account keeping fees with a low variable rate.
Special offer: Some things are just better together. Save when you combine your home loan, transaction account and home insurance. See our current ‘Better Together’ special offers.
This loan gives you the ability to make extra payments when you want, with the flexibility of Cashback^ (access to previous funds repaid in excess of your base repayment amount) when you need.
A Line of Credit Home Loan is a complete money management solution that lets you use the equity you’ve built in your home to invest in other assets. With a Line of Credit you can consolidate debt and build wealth by investing in shares, investment property, or a managed investment fund.
^You need to apply for Cashback, which is available subject to conditions.
Fixed Rate Loans
Choose the peace of mind of knowing you’re protected against unexpected interest rate rises over the fixed period you select.
This flexible package bundles your choice of home loan together with savings on interest rates, loan establishment fees, and account keeping fees.Including other Suncorp Bank products and services into your package will yield even further benefits.
Choosing to 'split' your loan
You can choose to divide the loan sum any way you want, securing a portion of your choosing as a fixed loan and a portion as a variable loan.
This feature is available on all Suncorp Bank Home Loans, except the Bridging Loan.
If you’re building a home, your builder will probably expect payment as construction proceeds. With a Construction Loan, Suncorp Bank will lend you money progressively as it’s needed, which means you’ll only pay interest on the portion of your loan that has been drawn down. Put simply, taking advantage of this loan type means you’ll only be paying interest on the portion of your loan that you have used.
Fixed vs Variable
Interest Rates Explained: Flexibility vs Security
Interest, which determines the sum of your repayments, comes in two standard rate-types, typically expressed as either 'variable', or 'fixed'.
- A variable rate changes as the market does, allowing you the flexibility of making repayments whose sum will reflect market conditions.
- A fixed rate stays the same for the fixed period term, giving you the security of always knowing the rate at which you're to make repayments.
Which Home Loan is right for me?
Though a conversation with one of our Home Loan Specialists will give you the best idea of the most suitable home loan for you, you should nevertheless start to focus on some of the following considerations.
- Things like, how flexible do I need my loan repayments to be?
- How much do I value the security of always knowing how much I have to repay?
And then there's these additional considerations:
- Do I want access to excess repayments I've made towards my loan?
- Am I self employed, and forsee difficulty providing ample evidence of my income?
- What if I need the funds between selling my current home, and buying my new one?
Home Loans are provided by Suncorp-Metway Ltd ABN 66 010 831 722 Australian Credit Licence 229882 (“Suncorp Bank”) to approved applicants only. Terms, conditions, fees and charges apply and are available upon request.