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 | ||||||||||||
| FEATUREDZERO 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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| Fixed | More details | ||||||||||||
| FEATUREDUSE A MARKET LEADING APP TO HELP YOU PAY OFF YOUR LOAN SOONER | Fixed Home Loan 1 year (Principal and Interest) (LVR < 80%)
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Fixed Home Loan 1 year (Principal and Interest) (LVR < 80%)
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| Variable | More details | ||||||||||||
| FEATUREDREFINANCE IN MINUTES, NOT WEEKS | Variable Owner Occupied, Principal and Interest (Refinance Only)(LVR <75%)
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Variable Owner Occupied, Principal and Interest (Refinance Only)(LVR <75%)
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| Variable | More details | ||||||||||||
| No ongoing feesFree redraw facility | Live-in Variable Loan (Principal and Interest) | ||||||||||||
| Variable | More details | ||||||||||||
| NO UPFRONT OR ONGOING FEES | Owner Occupier Accelerates - Evaporate (LVR 60%-70%) (Principal and Interest) | ||||||||||||
| Variable | More details | ||||||||||||
| FREE REDRAW FACILITY | Yard Home Loan (Principal and Interest) (Special) (LVR < 80%)
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| Fixed | More details | ||||||||||||
| No ongoing feesFree redraw facility | Live-in Fixed Loan (Principal and Interest) 1 Year | ||||||||||||
| Variable | More details | ||||||||||||
| NO ONGOING FEES100% FULL OFFSET ACCOUNTFREE REDRAW FACILITY | Ocean Owner Occupied (LVR < 60%) | ||||||||||||
| 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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| Variable | More details | ||||||||||||
| NO ONGOING FEES | Budget Home Loan (Principal and Interest) (LVR < 80%) | ||||||||||||
| Variable | More details | ||||||||||||
Basic Variable Owner Occupier Principal & Interest (LVR ≤ 80%) | |||||||||||||
| Variable | More details | ||||||||||||
| 100% FULL OFFSET ACCOUNT | Offset Package Home Loan (Principal and Interest) (LVR < 60%) | ||||||||||||
| Fixed | More details | ||||||||||||
Fixed Home Loan 1 year (Principal and Interest) (LVR 80%-85%) | |||||||||||||
| Variable | More details | ||||||||||||
| 100% FULL OFFSET ACCOUNT | Offset Package Home Loan (Principal and Interest) (LVR 70%-80%) | ||||||||||||
| Variable | More details | ||||||||||||
| AN EASY ONLINE APPLICATION | Yard Home Loan (Principal and Interest) (Special) (LVR < 70%)
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| Fixed | More details | ||||||||||||
Fixed Home Loan 2 year (Principal and Interest) (LVR < 80%)
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| Variable | More details | ||||||||||||
| UNLIMITED EXTRA REPAYMENTS | Basic Home Loan (Principal and Interest) (LVR < 60%) | ||||||||||||
| Variable | More details | ||||||||||||
| AN EASY DIGITAL APPLICATION | Neat Variable Home Loan (Principal and Interest) (LVR < 60%)
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Neat Variable Home Loan (Principal and Interest) (LVR < 60%)
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| Variable | More details | ||||||||||||
| 100% FULL OFFSET ACCOUNT | Offset Package Home Loan (Principal and Interest) (LVR 60%-70%) | ||||||||||||
| Fixed | More details | ||||||||||||
Fixed Rate Home Loan 3 Years (LVR 80%-95%) | |||||||||||||
| Fixed | More details | ||||||||||||
Fixed Rate Home Loan (Principal and Interest) 1 Year (LVR < 80%) | |||||||||||||
| Fixed | More details | ||||||||||||
Tailored Home Loan Fixed (Principal and Interest) 2 Years | |||||||||||||
| Fixed | More details | ||||||||||||
Premier Package Fixed Options Home Loan (Principal and Interest) 1 Year | |||||||||||||
| Variable | More details | ||||||||||||
Extra Home Loan (Principal and Interest) (LVR < 70%) | |||||||||||||
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. *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 January 25, 2022. View disclaimer.
What is mortgage switching?
Mortgage switching, more commonly known in the industry as
refinancing, is the act of moving from one home loan to
another. This can be a move to a different loan from the same
lender, or a new lender together.
People choose to refinance for a number of reasons, like:
- Wanting a better interest rate
- Wanting to pay less in fees
- Wanting to switch between variable and fixed rates
- Wanting to access the equity in their home
- Wanting to access more beneficial features (such as offset accounts )
How much can you save by refinancing?
Refinancing to a home loan with a lower interest rate can
potentially save you thousands of dollars over the life of a
standard home loan. Even a slightly lower interest rate can
make a huge difference. Let’s say you have $400,000, 30-year
home loan with P&I (principal and interest) repayments, and
you decide to refinance your home loan from 4.00% p.a. to a
new interest rate of 3.50% p.a:
In this case, refinancing to a lower interest rate could save you
more than $36,000 over your entire home loan.
You could also save more money by switching to a home loan
with an offset account, or one with lower fees.
Mortgage refinance calculator
If you want to decide if refinancing your mortgage is worth it,
our home loan refinance calculator is a good place to start.
To find out how much you could potentially save, enter the
following info:
- Your current interest rate
- Your current loan balance
- How long you have left on the loan
- Your current repayment frequency (weekly, fortnightly or monthly)
- Any fees you have (ongoing, discharge fees etc.)
By comparing different home loans with our mortgage refinance calculator, you’ll have a better idea of the savings on offer.
Other Calculators
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Disclaimers
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. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.
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