In Australia, home loans are financial arrangements that enable individuals to purchase residential properties. Borrowers can secure home loans from banks, credit unions, or other lending institutions. These loans typically involve a down payment, with the remaining amount borrowed and repaid over a specified period, usually through regular installments, including interest.

Various types of home loans cater to different needs, such as variable rate loans, where the interest rate can fluctuate with market conditions, and fixed-rate loans, where the interest rate remains constant for a set period. Other options include interest-only loans and split loans, combining variable and fixed interest rates.

Lenders consider factors like credit history, income, and property value when assessing loan applications. Mortgage brokers can assist in finding suitable loan options. First-time home buyers may access government schemes like the First Home Loan Deposit Scheme (FHLDS) or the First Home Owner Grant (FHOG) to assist with initial expenses.