Find out how to compare home loans and get the best deal, and what questions to ask your lender or broker. Get rid of your mortgage debt faster, and get back on track if you're struggling with repayments.

Get ahead on your home loan

Smart ways to get ahead:

• Aim to save a 20% house deposit. A bigger deposit means a smaller loan, and you'll avoid lender's mortgage insurance (LMI).
• Compare loan options from at least two lenders. Focus on your 'must haves' to find one that best meets your needs.
• Look for the lowest interest rate. A home loan is a long-term debt, so even a small difference in interest adds up over time.
• Factor in all the costs involved in buying a house, such as building inspection, legal fees, stamp duty and insurance.
• Be realistic with the amount you borrow. Interest rates or your circumstances could change, so give yourself some breathing room.
• Make fortnightly repayments. You'll pay off your mortgage faster by making an extra month's repayment each year.
• Talk to your lender if you're struggling with repayments. If you've received a default notice, get free legal advice straight away.