Fixed Rate Home Loan in Melbourne

Break Free Home Loans are a leading Melbourne mortgage broker, with over 20 years of industry experience. We provide lending solutions and advice tailored to your needs. We work closely with clients as trusted advisors and are accessible to clients when needed.

Our brokers work hard at understanding our client’s unique circumstances and helping them overcome common home loan challenges. Whether you’re a first home buyer or an experienced investor, we’ll help you find the best home loan for your situation. Whether you’re self-employed or unemployed and have trouble proving your income or you’re a contractor or casual worker, we offer solutions for all types of clients’ income sources.

If you’d like to borrow at a low cost, Break Free Home Loans can help you find the lowest fixed rate home loan in Melbourne. We can help you carry out a thorough fixed rate home loan comparison to find the right lender for your situation. Talk to us today.

What Is A Fixed Rate Home Loan

A personal loan is an unsecured loan that can be used for almost anything including your home equity, vacation, wedding, medical or dental expenses, debt consolidation, or almost any large purchase.

Personal loans are typically instalment loans, meaning they typically come with a fixed repayment schedule and monthly payments.


How Does It Work

A fixed rate home or cash loan is a loan where the interest rate is set for a certain period of time, usually between 1 and 5 years. This means that your repayments will stay the same during this time, even if interest rates rise. A fixed rate home loan can give you peace of mind, as you know exactly how much you’ll be paying over the course of your loan period.


Why Choose A Fixed Rate Home Loan

Applicants may prefer a fixed interest rate home loan for the following benefits:

  • You’ll know exactly how much your repayments will be each month, making budgeting easier.
  • Fixed rate home private loans usually offer lower interest rates than variable rate home loans.
  • You may be able to negotiate a longer loan term with a fixed rate loan, giving you more time to pay off your debt.

Pros & Cons

The following are just some pros and cons you need to consider before applying for a fixed rate home loan:

How To Get A Fixed Rate Home Loan In Melbourne

There are a number of ways to get a fixed rate home loan in Melbourne. You can speak to a mortgage broker, who will be able to compare different products and lenders to find the best deal for you. You can also go directly to a bank or lender, and ask about their fixed rate home loan products.

It’s important to compare different products and lenders before you make a decision, as there can be significant differences in the interest rates and fees charged. You should also consider whether a fixed rate home loan is right for you, as there are some risks associated with these types of loans.

The Requirement For A Fixed Rate Mortgage

To get a fixed rate home loan in Melbourne, you will need to meet the following criteria:

  • You must be an Australian citizen or permanent resident.
  • You must have filed your Australian tax return for the last two financial years.
  • You must have proof of your Australian residency, such as a passport or Australian driver’s licence.
  • You must have a not bad credit history.
  • You must be employed full time.
  • You must have a minimum deposit of 5% of the purchase price of the property.
  • The property must be located in Melbourne.

If you meet all of the above criteria, you may be eligible for a fixed rate home loan.

fixed rate home loan
lowest fixed rate home loan

Refinancing A Fixed Rate Home Loan

Refinancing a home loan simply means taking out a new loan to replace your existing home loan. This can be done for a number of reasons, such as getting a lower interest rate, switching from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage, or to access equity in your home.

Compare Fixed Rate Home Loans In Melbourne

If you’re not sure whether a fixed rate or variable rate home loan is right for you, our mortgage brokers can help. We’ll take the time to understand your needs and goals, and recommend the best home and caveat loan for your situation.

Looking for a way to finance your house? Get in touch with us today to learn more about your options. We work with a wide network of banks and financial institutions. We can help you compare the repayment terms of different lenders to find the best solution for your mortgage.

fixed rate home loan comparison

Main Interest Rates & Fees

To get the lowest fixed rate home loan, you need to look at more than just the interest rate. You also need to consider:

  • The type of interest rate (fixed or variable).
  • The loan term.
  • The repayment options.
  • Any extra features or benefits that come with the loan.
  • home loan fixed rate

    Owner Occupied

    The owner occupied interest rate is the standard variable rate less a discount. It is for applicants who will reside in the property they are financing using the loan. The owner occupied interest rate is only available for new customers who have not held a home loan with the bank in the past 12 months, and are borrowing at least 80% of the property value. To get an owner occupied interest rate, you will need to:

    • Have a good credit history.
    • Have a regular income.
    • Be an Australian citizen or permanent resident.
    • Be over 18 years of age.
    fixed rate home loan with offset


    An investment home loan is a loan that is used to purchase an investment property. Investment properties are usually rental properties, which can provide income through rent payments. Investment property home loans usually have different terms and conditions than regular home loans, as they are considered to be higher risk. As such, investment home loans often have higher interest rates and require a larger down payment. However, investment home loans can be a great way to finance an investment property and can provide you with the opportunity to earn income through rent payments. If you are thinking about purchasing an investment property, then you should speak to our mortgage brokers about your options for an investment home loan.

    Need a Consultation? Speak With Us!

    If you have any questions about finding the best home loan for your needs, speak to a mortgage broker from Break Free Home and Business Loans today. We can help you secure loans in Melbourne and the best deal when you’re looking to borrow cheap and have your loan application approved.

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    Frequently Asked Questions!

    Break Free Home and Medical Surgery Loans specialise in fixed rate home loan comparison. The following are just some of the most frequently asked questions we get from our customers:

    Are Fixed Rates Home Loans Cheaper Than Variable Rates?

    No, but they often are. It depends on the current market conditions when you take out your loan. If interest rates are low, a variable rate home loan may be cheaper than a fixed rate home loan. But if interest rates are high, a fixed rate home loan will usually be cheaper.

    Another advantage of a fixed rate home loan is that you can budget your repayments more easily, as they will remain the same for a set period of time. This predictability can be helpful, especially if interest rates rise during the life of your loan.

    If you are worried about interest rates rising, a fixed rate home loan could be a good option for you. By locking in your rates right away, you can hedge against rising interest costs.

    How Long Can You Fix A Home Loan Rate For?

    You can typically fix a home loan rate for 1 to 5 years, although some lenders may offer longer terms. This means that your interest rate and repayments will be fixed for the agreed period, giving you certainty and peace of mind. At the end of the fixed term, your loan will usually revert to the lender’s standard variable rate.

    What Is The Difference Between A Fixed Rate Home Loan And Variable Rate?

    Standard Variable Rate vs Fixed Rate Home Loan: Which one should you choose?

    There are several things to consider when you are comparing home loans, and the type of interest rate is one of them. There are two main types of interest rates: fixed and variable. Each has its own advantages and disadvantages, so it’s important to understand the difference before making a decision.

    A fixed interest rate means that your interest rate will be set for a certain period of time, usually between one and five years. This can give you peace of mind knowing exactly how much your repayments will be each month. The downside is that if interest rates fall during this time, you won’t benefit from the lower rates.

    A variable interest rate, on the other hand, can go up or down over time. This means your repayments will also fluctuate, which can be a bit of a risk. However, if interest rates fall, you’ll benefit from the lower repayments.

    When choosing an interest rate, it’s important to consider your personal circumstances and what’s best for you in the long run.

    Contact our team

    We love to hear from each and every one of you. Please feel free to reach out to us today!