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 | ||||||||||||
| 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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| Variable | More details | ||||||||||||
| FEATUREDAN 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 | ||||||||||||
| QLD/NSW/VIC/SA METRO & INNER REGIONAL AREAS | Variable Home Loan (Principal and Interest)
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Variable Home Loan (Principal and Interest)
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| Variable | More details | ||||||||||||
| NO ONGOING FEESFREE REDRAW FACILITY | Live-in Variable Loan (Principal and Interest) (LVR < 90%)
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Live-in Variable Loan (Principal and Interest) (LVR < 90%)
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| Variable | More details | ||||||||||||
| REFINANCE ONLY | Variable Rate Home Loan – Refinance Only
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Variable Rate Home Loan – Refinance Only
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| Variable | More details | ||||||||||||
| 100% FULL OFFSET ACCOUNT | Ocean Owner Occupied (Amounts < $1m, LVR < 60%)
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Ocean Owner Occupied (Amounts < $1m, 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 | ||||||||||||
| 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 | Owner Occupier Accelerates - Evaporate (LVR 60%-70%) (Principal and Interest)
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Owner Occupier Accelerates - Evaporate (LVR 60%-70%) (Principal and Interest)
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| Variable | More details | ||||||||||||
| 100% FULL OFFSET ACCOUNT | |||||||||||||
Offset Package Home Loan (Principal and Interest) (LVR < 60%) | |||||||||||||
| Variable | More details | ||||||||||||
| NO APPLICATION FEES | |||||||||||||
Yard Home Loan (Principal and Interest) (LVR < 80%) | |||||||||||||
| Variable | More details | ||||||||||||
| NO UPFRONT OR ONGOING FEES | |||||||||||||
Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 80%) | |||||||||||||
| Variable | More details | ||||||||||||
| THE MORE YOU PAY THE LOWER YOUR RATE | |||||||||||||
Owner Occupier Accelerates - Liberate (LVR 70%-80%) (Principal and Interest) | |||||||||||||
| Variable | More details | ||||||||||||
| UNLIMITED EXTRA REPAYMENTS | |||||||||||||
Basic Home Loan (Principal and Interest) (LVR < 60%) | |||||||||||||
| Variable | More details | ||||||||||||
| NO ONGOING FEES | |||||||||||||
Basic Flyer Home Loan (Principal and Interest) (LVR 60%-70%) | |||||||||||||
| Fixed | More details | ||||||||||||
| BORROW UP TO 95% OF PROPERTY VALUE | |||||||||||||
Fixed Rate Home Loan (Principal and Interest) 3 Years (LVR ≤ 80%) | |||||||||||||
| Fixed | More details | ||||||||||||
| No ongoing feesFree redraw facility | |||||||||||||
Live-in Fixed Loan (Principal and Interest) 1 Year | |||||||||||||
| 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 June 30, 2022. View disclaimer.
Rent vs buy: Which is better?
There’s no real answer to this question, because, depending on the circumstances, renting a home can better for some people while buying a home may be better for others.
Rent payments are often lower than mortgage repayments, and there are fewer property maintenance costs to worry about. To secure a rental, renters only have to pay a bond as opposed to a hefty house deposit.
But on the home-buying side, you can have greater freedom to do what you want with the property, more security of living and most importantly, you’re building equity in a property that you actually own. It’s yours, and you could potentially sell it for hefty profit years down the road.
It might be the Australian dream to own a home of your own, but depending on the circumstances, you might actually be financially better off renting over a set period of time. Our rent vs buy calculator can help you work out what the better choice is for you.
Rent vs buy calculator
Our rent vs buy calculator will help you estimate your financial position when renting, compared to buying a house.
To use our rent vs buy calculator, you’ll need to enter following details:
- Weekly rent
- Your current savings
- Your monthly savings
- Your average annual rate of returns on your savings (if all of your savings is in cash and you don’t have any investments, like shares, you can just put your savings account interest rate)
- The property purchase price and loan amount
- The loan term
- The loan interest rate
- Any upfront and ongoing costs (for renting and buying)
- Where your savings would go if you were buying a home (savings account or offset account?)
- Assumed annual house price growth
- The period of analysis
With these inputs, the calculator can give you a rough estimation of your future net worth as a renter compared to a buyer in the period of time you’ve chosen. Although it requires a lot of assumptions, this estimation will hopefully help give you a rough idea of whether you’re better off renting or buying a home.
Other Calculators
Home loan news
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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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