Home loan comparison
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 | Advertised rate | Comparison rate | Monthly repayment | Rate Type | Offset | Redraw | Ongoing Fee | Upfront Fees | LVR | Lump Sum Repayment | Additional Repayments | Pre-approval | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Variable | More details | ||||||||||||
| FEATUREDLIMITED TIME 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 | ||||||||||||
| FEATUREDAN EASY ONLINE APPLICATION | Yard Home Loan (Principal and Interest) (Special) (LVR < 70%)
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Yard Home Loan (Principal and Interest) (Special) (LVR < 70%)
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| Variable | More details | ||||||||||||
| FEATUREDWIN YOUR HOME LOAN INTEREST FREE | Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)
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Nano Home Loans Variable Owner Occupied, Principal and Interest (Refinance Only)
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| Variable | More details | ||||||||||||
| FEATUREDYOU COULD WIN $100k TO PAY DOWN YOUR LOAN* | 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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| Fixed | More details | ||||||||||||
| ONLY A 5% DEPOSIT REQUIRED | Fixed Rate Home Loan (Principal and Interest) 3 Years | ||||||||||||
| Fixed | More details | ||||||||||||
| NO ONGOING FEES | Basic Home Loan Fixed (Principal and Interest) (LVR 70%-80%) 3 Years | ||||||||||||
| Fixed | More details | ||||||||||||
Home Advantage Fixed Home Loan 1 Year | |||||||||||||
| Fixed | More details | ||||||||||||
Fixed Rate Home Loan (Principal and Interest) (NSW and ACT only) 1 Year (LVR < 95%) | |||||||||||||
| Variable | More details | ||||||||||||
Pepper Essential Home Loan (Prime) (Principal and Interest) (LVR < 55%) | |||||||||||||
| 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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| Fixed | More details | ||||||||||||
Basic Home Loan Fixed 1 Year (LVR 70%-80%) | |||||||||||||
| Fixed | More details | ||||||||||||
Fixed Rate Home Loan 2 Years (LVR 80%-95%) | |||||||||||||
| Fixed | More details | ||||||||||||
| NO UPFRONT OR ONGOING FEES | Basic Home Loan Fixed (Principal and Interest) (LVR < 70%) 3 Years | ||||||||||||
| Variable | More details | ||||||||||||
| YOU COULD WIN $100k TO PAY DOWN YOUR LOAN* | Owner Occupier Accelerates - Evaporate (LVR 60%-70%) (Principal and Interest) | ||||||||||||
| Variable | More details | ||||||||||||
Great Rate Variable Home Loan (New Customers) (NSW, ACT & QLD only) | |||||||||||||
| Variable | More details | ||||||||||||
| NO ONGOING FEES | Basic Flyer Home Loan (Principal and Interest) (LVR 60%-70%) | ||||||||||||
| Fixed | More details | ||||||||||||
Your Way Plus Fixed Home Loan 3 year (Principal and Interest) (LVR 60%-80%) | |||||||||||||
| Fixed | More details | ||||||||||||
Fixed Rate Home Loan (Principal and Interest) 1 Year | |||||||||||||
| Variable | More details | ||||||||||||
| FEATUREDFREE REDRAW FACILITY | Basic Home Loan (Principal and Interest) (LVR 70%-80%) | ||||||||||||
| Variable | More details | ||||||||||||
| FEATURED | 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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| Fixed | More details | ||||||||||||
Fixed Rate Home Loan (Principal and Interest) 3 Years (LVR > 80%) | |||||||||||||
| Fixed | More details | ||||||||||||
Tailored Home Loan Fixed (Principal and Interest) 4 Years | |||||||||||||
| Fixed | More details | ||||||||||||
| ONLY A 5% DEPOSIT REQUIRED | Fixed Rate Home Loan (Principal and Interest) 2 Years | ||||||||||||
- Fast turnaround times, can meet 30-day settlement
- For purchase and refinance, min 20% deposit
- No ongoing or monthly fees, add offset for 0.10%
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 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. Rates correct as of September 25, 2021. View disclaimer.
Before you move into that new home, you’ll need to pay a
deposit for it. And that deposit can be very expensive, often
$100,000 plus.
Our home loan deposit calculator can help you work out how
much you’ll need, and what you can afford.
What is a house deposit?
A house deposit is the initial down payment made to the seller
of the house before you take out a home loan. This is the first
portion of the property that you pay for, and you gradually pay
for the rest as you pay off your home loan.
Deposits are important lenders because they provide a buffer
against potential losses should the borrower default on the
loan. Lenders can also look at the size of the deposit to assess
your reliability as a borrower. Someone who can afford to save
a large amount for a deposit is also more likely to be able to
afford to keep meeting their repayments.
How much do you need for a house deposit?
That’s where the loan-to-value ratio (LVR) comes into it.
In a lot of cases, you can take out a home loan with a deposit
as small as 5% of the property's value. A 5% deposit means
you still have to borrow 95% of the home’s value from the
lender, meaning you have an LVR of 95%.
In order to avoid the expensive Lenders Mortgage Insurance
(LMI), you’ll typically require a deposit of at least 20%, or an
80% LVR. This can be quite a lot of money. On a $500,000
home, a 20% deposit is $100,000 in savings.
You’ll also need to factor in the other upfront costs associated
with purchasing property, like conveyancing fees, stamp duty
costs, bank fees and more. Together these can easily cost
$10,000+ at a conservative estimate, which is why it can be
useful to use a house deposit calculator to find out how much
you’ll need in savings.
Home loan deposit calculator
A home loan deposit calculator, such as the one on our website, can work out how much of your existing savings can be put towards a home of a certain value after all the upfront costs have been considered.
Savings.com.au’s house deposit calculator lets you input the following bits of info to find out the kind of deposit you’d need to have:- The estimated value of the property you want to buy
- Your current savings
- Which state the property is located in
- Whether you’re buying the property to live in or as an investor
- Whether you’re a first home buyer and buying through a scheme
- Whether the home is established or new
If you wanted to have a lower LVR, then this house deposit calculator could help you figure out just how much more savings you need.
Other Calculators
Home loan news
Disclaimers
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:
- The big four banks are: ANZ, CBA, NAB and Westpac
- The top 10 customer-owned Institutions are the ten largest mutual banks, credit unions and building societies in Australia, ranked by assets under management in November 2020. They are (in descending order): Great Southern Bank, Newcastle Permanent, Heritage Bank, Peoples’ Choice Credit Union, Teachers Mutual Bank, Greater Bank, IMB Bank, Beyond Bank, Bank Australia and P&N Bank.
- The larger non-bank lenders are those who (in 2020) has more than $9 billion in Australian funded loans and advances. These groups are: Resimac, Pepper, Liberty and Firstmac.
- If you click on a product link and you are referred to a Product or Service Provider’s web page, it is highly likely that a commercial relationship exists between that Product or Service Provider and Savings.com.au
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.
