Compare the interest rates and loan features of various home loan providers before taking a home loan. A no frill loan with the minimum interest rate could be the best for you if you do not intent to use any fancy features. Some lenders charge  1-4% extra for these features. The minimum  rate could help you save thousands of dollars over the period of the loan. Some fancy features can be helpful but you should evaluate each of them and be sure you can utilise them to your advantage and  can help you achieve your goal. Some people use these features to buy multiple properties.

Find all the various type of fees your lender plans to charge you. Some lenders charge monthly account keeping fees as well.

Does your home loan have the feature of additional payments? This is one feature which you should always have. It allows you to payoff your loan as soon as you can. In nearly all cases people end up paying more money as interest than the total initial principal amount if they do not have the feature of additional payments. Sometimes the interest can be many multiple times the principal amount. This is sometimes offset by taking in fixed principal home loans on many properties and if you happen to get a lot of capital gain, the leverage makes it worth paying the interest slowly. This strategy is however risky and should be approached with extreme caution.

If you are being offered 'honeymoon' interest rates, investigate it thoroughly as these loans often become quite expensive after the honeymoon period is over.

Do you need a redraw facility? Is it provided?

Check out offset accounts and line-of-credit accounts and use and utilise them if you understand their benefits.

Make payments fortnightly or weekly. This helps you pay of your loan much faster and saves you lot of money which you would have paid as interest.