Finding home loan now in the market is a lot easier than ever, but finding the right one which fits you the best is the most challenging factors than any other.
 
Unsuitable selection could be one of the most expensive choices in life. Therefore, getting the choice right is the most important factor.
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The most suitable choice you make, the more saving and happier your life becomes for the long run. 
 
While choosing your home loan few of these factors are the most crucial part in order to get your choice right.
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Variable Rate: Variable home loan offers the most attractive rates in the market; however, does fluctuate ups and down as Reserve Bank of Australia rates changes. In fact, this variable rate is one of the most popular choices in Australia as it allows the customer to shift among various lenders for better rates and features without any penalty or lock of contact.   
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Fixed Rates: This home loan rate is fixed over a certain period, usually between 1-5 years. Being its rate is fixed, which allows you not only peace of mind but also keep your payment organized avoiding any kind of high-interest rate affect from the market. Some of the drawbacks of this loan type are fewer flexibilities of shifting to various rate on the market and restricted additional repayments.  
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Split Rates: Split type home loan allows you to choose the rates and features of variable and fixed loan types. For instances, 60:40 ration of AUD $600,000 is $360,000 would be variable and $240,000 would be fixed.
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Low doc: This low doc home loan is very much suitable for those who have difficulties to provide employment income statements and to the new self-employed investor. The advantage of this loan is you don’t need to show any evidence of income or savings.
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Full doc: This loan type is suitable for regular income holders having enough income evidence to support the loan approval process.