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.
Product Features
Monthly repayments: $1,448
Advertised
Rate (p.a.)
Comparison
Rate (p.a.)
Product Features
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%. If products listed have an LVR <80%, they will be clearly identified in the product name along with the specific LVR. The product and rate must be clearly published on the Product Provider’s web site. Monthly repayments were calculated based on the selected products’ advertised rates, applied to a $400,000 loan with a 30-year loan term.
If you have a bunch of other debts, such as a car loan or credit card interest, then you can use a home loan for debt consolidation to add this debt to your existing home loan balance.
For example, you could add $5,000 in credit card debt and $20,000 in car loan debt to a $300,000 home loan, which would take your total home loan to $325,000.
This strategy can be useful since home loans usually have lower interest rates than products like credit cards and car loans. However, a negative of such a strategy is that home loans tend to have much longer loan terms, so you risk stretching out these debts for longer, making them more expensive overall.
If you want to consolidate debts into a home loan, then our debt consolidation calculator below can help you.
Savings.com.au’s debt consolidation calculator allows you to estimate how much your home loan repayments could change by consolidating other debts into your current home loan. You can just enter:
This will give you an idea of what your new repayments and interest costs will be, as well as how much you could be saving on monthly repayments and total interest.
The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered which includes retail products from at least the big four banks, the top 10 customer-owned institutions and Australia’s larger non-banks:
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.
In the interests of full disclosure, Savings.com.au, Performance Drive and Loans.com.au are part of the Firstmac Group. To read about how Savings.com.au manages potential conflicts of interest, along with how we get paid, please click through onto the web site links.
*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.
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