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.


How to calculate LVR

The loan to value ratio (LVR) is the percentage representation of the loan’s size to the value of your property. So, if you had a $100,000 deposit and you’re borrowing $400,000 to purchase a property that’s valued $500,000, your LVR would be 80%, since the loan size ($400,000) represents 80% of the property’s value ($500,000). Your deposit represents 20% of the property’s value, which is your equity in the property. The bigger your deposit on the property, the smaller your LVR will be.

So basically, your LVR % = ($loan size/$property value) x 100.

Lenders place a great deal of emphasis on LVR, and in some cases are less likely to lend to people with a high one. Typically, those with an LVR of 80 or less (a deposit of 20% or more) won’t have to pay the thousands of dollars for Lenders Mortgage Insurance (LMI). A lower LVR can also suggest to the lender that you’re a trustworthy borrower with good savings habits.

LVR calculator

For help working out your LVR is, you can use Savings.com.au’s LVR calculator. All you need to enter is your property price and deposit amount.

The higher your LVR, the harder it is to be approved for a loan and the more you’ll likely have to pay in interest.

So if the LVR calculator shows that you have a high LVR, you should consider whether you need to save a larger deposit or look to buy a cheaper property.


Home loan news


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.