Australian Loans: What is a home loan?

What is a home loan?

A home loan is a loan used to buy a residential property, or a loan taken out and secure on a home. It is sometimes called a mortgage.

definition "home loan"

Sometimes people want a second loan on their home - this is often still called a home loan, but is sometimes called a remortgage.

Lenders are usually happy to lend money to buy the following sorts of residential dwellings: houses or normal construction, flats, bungalows.

It is usually more difficult to get home loans or mortgages on flats on higher levels, house boats, or houses made of non standard construction.

Australian Loans lists information, help and guidance about applying for a loan online.

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