There's nothing romantic about loading yourself up with debt. If an introductory home loan catches your eye, it's useful to know that such loans are sometimes called "honeymoon loans" - and we all know what happens when the honeymoon is over.

First-home buyers confront a mountain of debt when they enter the Sydney market. The sad fact is the median price of property in Sydney is $315,000, which, for many beginners, means a loan in excess of $200,000.

Most people taking on that sort of debt want to get it under control as quickly as possible so they can go back to sleeping peacefully at night. It's the main reason first-home buyers are often on the prowl for cheaper rates. Unfortunately, it can make them vulnerable to clever marketing.

"Working out whether a deal is worthwhile - where a bank gives you the first month's repayment free, or sets a honeymoon rate for six months, or covers insurance costs - is difficult based on the information provided," says Louise Petschler, of the Australian Consumers Association.

While honeymoon rates and sweetheart deals often look great in ads, in reality they may turn out to be pricey. The only way to tell how good they are is to add all the costs involved: the introductory rate, the rate the loan reverts to and all ongoing fees. This is called the "true rate" or "annualised average percentage rate" (AAPR for short).

It's important to remember the introductory period is relatively short and the rate the loan reverts to has a greater impact.

"For many institutions, introductory products are a way to get consumers through the door," says Andrew Willink, the managing director of Cannex. "There's nothing like seeing a low interest rate if you are under pressure to borrow a large amount."

If you want to pay as little interest as possible, particularly because of hefty debt, there are better alternatives. The research suggests introductory loans are marginally lower than the average for standard variable products, but they do not offer the savings of a basic loan.

"A basic loan is ideal for the budget-conscious borrower who wants to reduce the debt quickly. It's the key factor most people want when they start out and for many people it's been one of the best alternatives," says Willink.

However, he adds, it's also fair to say introductory loans will benefit anyone who doesn't want to make large monthly repayment in the first year because of the need to purchase new items for the home.

When honeymoon loans were introduced four years ago, interest rates were falling. The significance of this is that borrowers were often delighted to find that once the honeymoon period was over, they reverted to a rate that was lower than expected.

But the reverse is true in an environment such as the current one where rates are climbing. Borrowers suddenly find the rate they revert to is a lot higher than expected and adjustment can be painful. It's an issue borrowers should be aware of, says Willink.

He thinks rates will continue to rise and that the standard variable loan could get closer to 9 per cent by next year.

The managing director of RESI Home Loans, Peter James, say his organisation has no time for introductory products: "Our concern with honeymoon rates is that customers tend to develop spending patterns based on these temporarily low repayments. This situation can be very difficult to reverse when the honeymoon period ends and many households struggle to cover the increased mortgage repayments."

Finally, there is no magic product that will make your mortgage disappear. As the ACA's Petschler says: "There are only three ways to save money on your loan and pay it off faster: pay a lower rate, borrow less and borrow for a shorter time."

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