The Home Loan Basics Most Buyers Never Learn

**Buying your first home is exciting, but understanding your mortgage is just as important as getting approved for one.** In this episode, Jack Elliott breaks down the fundamentals of home loans, explaining how mortgage repayments work, how interest is calculated, and the differences between fixed, variable and split loans. You'll also learn why small changes to the way you manage your mortgage can make a significant difference over time. Whether you're preparing to buy your first home or you've recently settled, this episode will help you better understand one of the biggest financial commitments you'll ever make so you can make more informed decisions with confidence. ## Episode Highlights 01:46 – Understanding How Mortgages Really Work 04:09 – Why Your Mortgage Balance Hardly Changes at First 07:16 – The Truth About Fortnightly Mortgage Repayments 10:15 – Choosing the Right Mortgage Term 14:00 – Who Controls Mortgage Interest Rates? 18:52 – Fixed, Variable or Split: Which Is Right for You? 25:03 – How to Make Your Mortgage Work for You ## Connect with Jack - Book a Get To Know You Chat with Jack - Website | First Home Unlocked ## Course Details: - **THE First Home Buyer Course is our Step-By-Step, No BS Guide to Every Stage of The Home Buying Process –** It’s the next best thing to having your own buyer’s agent. With our expert guidance, you’ll know what to do at every step along the way. Become a home owner faster and easier. Click here: https://homebuyeracademy.com.au/YFHBG If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey! - Subscribe on YouTube: https://www.youtube.com/@TheFirstHomeBuyerCourse - Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/your-first-home-buyer-guide-podcast/id1544701825 - Subscribe on Spotify: https://open.spotify.com/show/7GyrfXoqvDxjqNRv40NVQs?si=7c8bc4362fab421f