14 May 2016 Importance of getting the right loan Matt Clark explains the importance of choosing the right home loan and helps first home buyers understand different types of home loans. Transcript: It is very important to get the the loan right. Everybody's situation is different and their plans are different. Some people are buying a house and they're going to be there forever. Others, it's an investment or it's a stepping stone to something else. There are a number of options available. With fixed loan and value advantage packages. Often basic type loans as well. You don't want to get yourself in a situation though, where you're paying for things you're not going to use. Or conversely, you've locked yourself out of certain features that you do need. And whilst it may seem cheaper at the time it may end up costing you more in the long run. There are a lot of different speculations to where rates are going. Six months ago they're going up, now they are going down. The fixed rates at record lows. No problem in locking something in. I think at this stage of the rate cycle though, with almost every product under five percent, you can't really go wrong.