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Residential Home Loans
Bear Loans Comprehensive Guide for First Home Buyers
An owner-occupier loan is a type of mortgage used to buy a property where the borrower plans to live as their primary residence. Unlike loans for investment properties, which are intended to generate rental income, owner-occupier loans are designed for people who will live in the home, either as individuals or families.
Do Owner-Occupier Loans Have Lower Interest Rates?
Yes, owner-occupier loans typically come with lower interest rates compared to investment property loans. This is because lenders see them as less risky. People tend to prioritize paying off the mortgage on their own home, so there's often less chance of default compared to investment loans.
What Happens If You Rent Out Your Owner-Occupied Home?
If you take out an owner-occupier loan, you're required to live in the home as your primary residence. If you decide to move out and rent the property, you must notify your lender. In most cases, the loan will need to be restructured as an investment loan, which could come with different interest rates and conditions.
Can You Claim Tax Deductions on an Owner-Occupier Loan in Australia?
Generally, you cannot claim tax deductions for the interest paid on a loan for your primary residence, as it’s considered personal debt. However, if part of your home is used for business purposes or rented out, you might be eligible to claim a deduction for the portion of the interest related to that use.
Always consult with a tax professional or financial advisor to understand the tax implications of your specific situation and determine whether you're eligible for any deductions.
Owner Occupied Loans
Calculators
Use our calculators to help you work out your repayments, borrowing power and stamp duty costs.
If you're looking for a hassle-free way to apply for a home loan in Sydney, you're in the right place! At Bear Loans, we make the process quick and stress-free.
Our easy-to-use online form and approachable team ensure a smooth experience from start to finish.
Simply fill out the form or give us a call to get started.
Once your application is submitted, you’ll receive a call from us to kick-start your loan process.
Our expert Sydney-based mortgage team is always available to answer any questions along the way.
As experienced mortgage brokers, we not only aim to find you the best home loan but also focus on making the entire process as straightforward and convenient as possible. Your satisfaction is our top priority!
The Simplest Way to
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How much deposit do we
need to purchase a home?
While a 20% deposit is typically required when buying a property, the exact amount can vary based on the type of home loan, your financial strategy, and the lender you choose. If your deposit is less than 20%, Lender’s Mortgage Insurance (LMI) is usually required.
However, there are exceptions:
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Guarantor Loans: With a guarantor, you may be able to provide a deposit of less than 20% and avoid paying LMI.
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Specialist Loans: Certain professionals, such as those in the medical field, may qualify for loans that allow a 10% deposit without LMI.
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Government Programs: Federal and state government schemes allow first-home buyers to secure a home with just a 5% deposit and avoid LMI.
Why Choose us?
Helping You Find the Right Home Loan
Whether you're a first-time buyer, investor, developer, or business owner, Bear Loans is dedicated to prioritizing your needs. We're here to help you find the home loan that best suits your unique situation. Let's start your journey with a mortgage that supports your goals and aspirations.
Building Lasting Relationships
Our focus is on building strong, long-term relationships with you, lenders, and everyone involved in the property finance process. With decades of experience, we've earned a reputation for reliability and trustworthiness, standing by our clients through every stage of their journey.
Trusted Mortgage Brokers in Sydney
As respected mortgage brokers in Sydney, we understand the importance of choosing the right financial partner for your long-term commitments. At Bear Loans, we are dedicated to guiding you through every step of the process, ensuring you're supported from start to finish.
Let's Work
Together
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First Home Buyers
Guidance and support for first-time home buyers
01
Residential Home Loans
Tailored financing solutions for purchasing your primary residence
02
Investment Property Loans
Specialised loans for maximising investment opportunities
03
Refinancing
Assistance in securing better rates or terms on existing mortgages
04
Guarantor Loan
Helping borrowers with limited credit access better terms and apporoval by allowing a third party fo co-sign.
05
Self-Managed Superfund Loans
Strategic Loans for managing and growing superannuation investments.
06
Debt Consolidation
Simplified financial management by combining debt into one payment.
07
Equity Drawdown
Accessing home equity to achieve financial goals.
08
Home Improvements and renovations
Financing for enhancing and upgrading your property.