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 TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval

VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • 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%
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • 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%
VariableMore details
ZERO APPLICATION FEESFEE FREE OFFSET

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees
ZERO APPLICATION FEESFEE FREE OFFSET

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees
FixedMore details
USE A MARKET LEADING APP TO HELP YOU PAY OFF YOUR LOAN SOONER

Fixed Home Loan 1 year (Principal and Interest) (LVR < 80%)

  • Make up to $20,000 additional repayments per fixed term
  • Redraw available – lets you access any extra loan repayments you’ve made
  • Choose to rate lock for 90 days (fee applies)
USE A MARKET LEADING APP TO HELP YOU PAY OFF YOUR LOAN SOONER

Fixed Home Loan 1 year (Principal and Interest) (LVR < 80%)

  • Make up to $20,000 additional repayments per fixed term
  • Redraw available – lets you access any extra loan repayments you’ve made
  • Choose to rate lock for 90 days (fee applies)
VariableMore details
REFINANCE IN MINUTES, NOT WEEKS

Variable Owner Occupied, Principal and Interest (Refinance Only)(LVR <75%)

  • No application or ongoing fees.
  • 100% free offset sub account.
  • Fast online application, approval in minutes not weeks.
  • Mobile app, Visa debit card, Apple and Google Pay
  • Refinance loans and variable rates only.
REFINANCE IN MINUTES, NOT WEEKS

Variable Owner Occupied, Principal and Interest (Refinance Only)(LVR <75%)

  • No application or ongoing fees.
  • 100% free offset sub account.
  • Fast online application, approval in minutes not weeks.
  • Mobile app, Visa debit card, Apple and Google Pay
  • Refinance loans and variable rates only.
VariableMore details
No ongoing feesFree redraw facility

Live-in Variable Loan (Principal and Interest)

No ongoing feesFree redraw facility
VariableMore details
NO UPFRONT OR ONGOING FEES

Owner Occupier Accelerates - Evaporate (LVR 60%-70%) (Principal and Interest)

NO UPFRONT OR ONGOING FEES
VariableMore details
FREE REDRAW FACILITY
  • Application completely online
  • Unlimited free redraws
  • Optional 100% offset can be added for $120 p.a.^
FREE REDRAW FACILITY
FixedMore details
No ongoing feesFree redraw facility

Live-in Fixed Loan (Principal and Interest) 1 Year

No ongoing feesFree redraw facility
VariableMore details
NO ONGOING FEES100% FULL OFFSET ACCOUNTFREE REDRAW FACILITY

Ocean Owner Occupied (LVR < 60%)

NO ONGOING FEES100% FULL OFFSET ACCOUNTFREE REDRAW FACILITY
VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 1yr

  • Fast turnaround times, can meet 30-day settlement
  • No ongoing fees
  • Extra repayments + redraw services
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 1yr

  • Fast turnaround times, can meet 30-day settlement
  • No ongoing fees
  • Extra repayments + redraw services
VariableMore details
NO ONGOING FEES

Budget Home Loan (Principal and Interest) (LVR < 80%)

NO ONGOING FEES
VariableMore details

Basic Variable Owner Occupier Principal & Interest (LVR ≤ 80%)

VariableMore details
100% FULL OFFSET ACCOUNT

Offset Package Home Loan (Principal and Interest) (LVR < 60%)

100% FULL OFFSET ACCOUNT
FixedMore details

Fixed Home Loan 1 year (Principal and Interest) (LVR 80%-85%)

VariableMore details
100% FULL OFFSET ACCOUNT

Offset Package Home Loan (Principal and Interest) (LVR 70%-80%)

100% FULL OFFSET ACCOUNT
VariableMore details
AN EASY ONLINE APPLICATION
  • Unlimited additional repayments
  • Unlimited free redraws
  • Optional 100% offset can be added for $120 p.a.^
AN EASY ONLINE APPLICATION
FixedMore details
  • Easy, digital application process
  • Market leading app to help you pay off your loan sooner
  • No on-going fees
VariableMore details
UNLIMITED EXTRA REPAYMENTS

Basic Home Loan (Principal and Interest) (LVR < 60%)

UNLIMITED EXTRA REPAYMENTS
VariableMore details
AN EASY DIGITAL APPLICATION

Neat Variable Home Loan (Principal and Interest) (LVR < 60%)

  • Easy, digital application
  • No on-going fees
  • Market leading app to help you pay off your loan sooner
AN EASY DIGITAL APPLICATION

Neat Variable Home Loan (Principal and Interest) (LVR < 60%)

  • Easy, digital application
  • No on-going fees
  • Market leading app to help you pay off your loan sooner
VariableMore details
100% FULL OFFSET ACCOUNT

Offset Package Home Loan (Principal and Interest) (LVR 60%-70%)

100% FULL OFFSET ACCOUNT
FixedMore details

Fixed Rate Home Loan 3 Years (LVR 80%-95%)

FixedMore details

Fixed Rate Home Loan (Principal and Interest) 1 Year (LVR < 80%)

FixedMore details

Tailored Home Loan Fixed (Principal and Interest) 2 Years

FixedMore details

Premier Package Fixed Options Home Loan (Principal and Interest) 1 Year

VariableMore 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 28, 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.

 

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. 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.