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How to eSign a document: eSignature legality for Home Loan in Australia

[Music] when you're getting a home loan it's important to know the basic ingredients so you can get the right home loan for you so let's dive in a home loan or a mortgage is the money you borrow from a bank or a lender to purchase a property you then repay the amount ing to a loan repayment schedule and the lender charges you interest aussies typically borrow between 80 and 90 of a property's value which means you need to save around 10 to 20 as a deposit the benefit of borrowing 80 or less is that you won't need to pay lenders mortgage insurance which can cost tens of thousands of dollars the average loan term is 30 years but you can pay your home loan off faster by using an offset account or making extra repayments and everyone loves extra you'll also need to choose between a fixed or a variable interest rate a fixed rate is locked in for a set time usually between one and five years fixed rate loans are less likely to offer offset accounts or allow unlimited extra repayments and there are break costs if you refinance during the fixed period a variable rate can change at any time but they tend to be more flexible now you've got the scoop on home loans so check out our comparison tool that makes it really simple for you to find the best loan for you tastes like home loan victory you can compare the latest loans by scrolling down and using the comparison tool