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Variable Loans; these loans are the most common. When interest rates go down you can make the most of paying more into your home loan at a lower interest rate. But, when interest rates go up your repayments go up as well.
Fixed Loans; fixed loans allow you to manage your finances without worrying about interest rate fluctuations. Some fixed loans allow for extra loan repayments . The interest rate is fixed for the elected period regardless of interest rate increases of decreases.
Split; split loans are a combination of fixed and variable and give you the best of both worlds.

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