Jonathon is a potential first home buyer who phones your office for the first time and asks you to explain some of the loan options he has heard may be available to him. He wants to know the benefits and disadvantages of each one. He has never used a mortgage broker before but he knows you would not charge him a fee for your services. He does not want to share too much personal information at this stage but indicates he has a good deposit and is ready to start searching for a home for himself. However, he would like a better understanding of: 

1) "a no- frills loan", 

2) a professional package, 

3) a line of credit, and 

4) honeymoon rates.