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There’s more than just fixed and variable rate loans.

If you’re looking to buy an investment property, it’s a good idea to shop around for a new loan. There are a range of loans potential investors can take advantage of aside from the standard variable and fixed-rate options. Here’s our pick of the top-5 best investment home loans.

Option #1: Bridging home loans

Bridging home loans are short term loans used to ‘bridge’ the gap between your existing and future mortgages. Borrowers leverage their existing equity in their current property as a down-payment. However, these loans incur higher fees than normal and are usually only used in pressing circumstances.

READ MORE: Here's our tips on buying an investment property

Option #2: Self-Managed Super Fund Loans

These loans draw funds from Self-Managed Super Funds (SMSF) and require more complex documentation than regular home loans. This loan uses a limited recourse borrowing arrangement, meaning if you default the lender is only entitled to the asset in question.

Option #3: Low-documentation loans

Low-documentation loans are for individuals who are unable to sufficiently prove their income through salaries or wages. Generally made for full-time investors or the self-employed, these loans require less documentation in return for higher rates and fees.

READ MORE: Do you know your borrowing capacity?

Option #4: Package home loans

Package loans are available to borrowers who bundle all their financial products under the same lender such as your credit card and savings account. These loans offer discounted interest rates and fees in return.

Option #5: Construction home loans

A loan option specifically tailored to renovations and construction. This loan is given in increments which are usually determined by builder or contractor invoices. This can be useful for individuals who are planning on renovating or flipping properties as an investment strategy.

Ready to find the best home loan rate? See how Joust can help here.