Looking for a home loan?
Buying a home or looking to refinance? The table below features home loans
with some of the lowest interest rates on the market for owner occupiers.
Lender | |||||||||||||
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| Variable | More details | ||||||||||||
| FEATUREDUNLIMITED REDRAWSSPECIAL OFFER | Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
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Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)
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| Variable | More details | ||||||||||||
| FEATURED100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES | Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
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Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)
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| Variable | More details | ||||||||||||
| ZERO APPLICATION FEESFEE FREE OFFSET | Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
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Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)
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| Variable | More details | ||||||||||||
| NSW/VIC/SA METRO & INNER REGIONAL AREAS$5000 CASHBACK. T&Cs APPLY. | Variable Home Loan (Principal and Interest)
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Variable Home Loan (Principal and Interest)
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| Variable | More details | ||||||||||||
| NO UPFRONT OR ONGOING FEES | Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 80%)
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Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 80%)
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| Variable | More details | ||||||||||||
| NO APPLICATION FEES | Yard Home Loan (Principal and Interest) (Special) (LVR < 80%)
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Yard Home Loan (Principal and Interest) (Special) (LVR < 80%)
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| Variable | More details | ||||||||||||
| 100% FULL OFFSET ACCOUNT | Ocean Owner Occupied (LVR < 60%)
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Ocean Owner Occupied (LVR < 60%)
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| Variable | More details | ||||||||||||
| $0 APPLICATION FEE | Budget Home Loan (Principal and Interest) (LVR < 80%)
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Budget Home Loan (Principal and Interest) (LVR < 80%)
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| Variable | More details | ||||||||||||
| NO ONGOING FEES | |||||||||||||
Basic Flyer Home Loan (Principal and Interest) (LVR 60%-70%) | |||||||||||||
| Variable | More details | ||||||||||||
| FEATUREDGET A DISCOUNTED GREEN RATE* | Green Home Loan (Principal and Interest)
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Green Home Loan (Principal and Interest)
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| Variable | More details | ||||||||||||
| NO UPFRONT OR ONGOING FEES | Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 95%)
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Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 95%)
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| Fixed | More details | ||||||||||||
| BORROW UP TO 95% OF PROPERTY VALUE | |||||||||||||
Fixed Rate Home Loan (Principal and Interest) 3 Years (LVR ≤ 80%) | |||||||||||||
| Variable | More details | ||||||||||||
| 100% FULL OFFSET ACCOUNT | |||||||||||||
Offset Package Home Loan (Principal and Interest) (LVR 70%-80%) | |||||||||||||
| Fixed | More details | ||||||||||||
Fixed Options Home Loan (Principal and Interest) 2 Years (LVR < 70%) | |||||||||||||
| Fixed | More details | ||||||||||||
Breakfree Package Fixed Rate Home Loan (Principal and Interest) 3 Years (LVR < 80%) | |||||||||||||
| Variable | More details | ||||||||||||
| FREE REDRAW FACILITY | |||||||||||||
Basic Flyer Home Loan (Principal and Interest) (LVR 70%-80%) | |||||||||||||
| Variable | More details | ||||||||||||
Smart Home Loan (Principal and Interest) (LVR < 80%) | |||||||||||||
| Variable | More details | ||||||||||||
| GREAT FLEXIBLE LOAN OPTIONS | |||||||||||||
Basic Home Loan (Principal and Interest) (LVR 70%-80%) | |||||||||||||
| Fixed | More details | ||||||||||||
Premier Package Fixed Options Home Loan (Principal and Interest) 2 Years (LVR < 70%) | |||||||||||||
| Variable | More details | ||||||||||||
| FEATUREDLIMITED TIME OFFER | Smart Booster Home Loan Discounted Variable - 1yr
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Smart Booster Home Loan Discounted Variable - 1yr
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Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of May 18, 2022. View disclaimer.
Interest rate vs comparison rate
A loan’s comparison rate can help provide a better indication of the cost of a loan by taking both the interest rate and fees into account.
That’s why the comparison rate is usually higher than the advertised interest rate.
By law, each lender is required to display the comparison rate of a home loan next to the advertised interest rate.
How is the comparison rate calculated?
Not all home loans are the same, which is why the comparison rate isn’t always a perfect way of comparing home loans. A home loan comparison rate is uniformly calculated based on an assumed loan amount of $150,000 with a loan term of 25 years, and then factors in the fees the loan has stretched over that time.
Because of these assumptions, the comparison rate should be taken with a pinch of salt. Data from 2019 found the median value of a dwelling in Australia was $516,713 - much more than $150,000 - and home loans can often last for 30 years plus.
Despite its flaws, however, the comparison rate can make it a lot easier for you to compare home loans on costs.
Our home loan comparison rate calculator can help you see how comparison rates are calculated to reflect a loan’s costs.
Comparison rate calculator
To use our comparison rate calculator, enter the following information:
- The loan amount
- The loan term
- The fixed interest rate and the fixed term (if applicable)
- The ongoing interest rate (not introductory or fixed)
- Monthly fees
- Upfront fees
- A discharge fee (if applicable)
By entering all of this, Savings.com.au’s home loan comparison rate calculator can estimate a loan’s comparison rate, repayments, total fees payable, total interest payable, and the total cost.
Other Calculators
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The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. Read about how Savings Media Group manages potential conflicts of interest, along with how we get paid.
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