Ever had a conversation with a bank employee (or a mortgage broker) and it sounded like they were talking a different language?? You’re not alone – it happens all the time. It is because their vocabulary is littered with Jargon – which it shouldn’t be. So here is the first of some helpful Jargon-busters … I hope you find this helpful – remember, get a mortgage broker to help you – they are on YOUR side, not the banks.
Fixed Rate (Principal and Interest) home loans
Split Rate (Principal and Interest) home loans
Interest-Only home loans
Line of credit home loans
Low-doc home loans
Introductory home loan