Compare Home Loans from 1.97%
- 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 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 29, 2022. View disclaimer.
How our home loan comparison works
At Savings.com.au, we compare home loans from some of Australia's biggest and most notable retail banks, non-banks and customer-owned banks. Here you can compare mortgages:
- For owner-occupiers and investors
- For those constructing or renovating a home
- For those refinancing their home loan and those buying their first home
- With principal and interest repayments or interest-only repayments
- With fixed or variable interest rate repayments
With our home loan comparison tables, you can compare the advertised interest rates, the home loan comparison rate (a better reflection of the loan's true cost), and what the minimum monthly repayments are based on the selected loan size.
How to compare home loans
Here are some of the top things to consider when choosing a home loan:
Interest rate
Interest represents the biggest cost of a home loan, so the lower the interest rate, the better. You also need to consider whether you want the certainty of a fixed-rate, the flexibility of a variable-rate, or a bit of both with a split-rate. Also watch out for introductory rates.
Loan Purpose
Home loan availability and interest rates differ depending on what you intend to use the mortgage for - is it for residing (owner-occupier), investing, refinancing or building?
Fees
Home loans can come with a variety of one-off and ongoing fees, such as establishment fees and annual fees. It can be hard to compare all these fees, but here’s a quick tip - use the comparison rate as a guide.
A home loan with high fees will often have a comparison rate that’s much higher than its advertised interest rate.
Features
Home loans with features like offset accounts or redraw facilities can be very useful. These features can allow borrowers to save interest by putting extra money towards their home loan, but also provide them with the flexibility to access those funds when necessary.
However, there are some pros and cons for both offset and redraw to keep in mind.
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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.
Savings.com.au Pty Ltd ACN 161 358 363 operates as an Australian Financial Services Licensee and an Australian Credit Licensee Number 515843. Savings.com.au is a general information provider and in giving you general product information, Savings.com.au is not making any suggestion or recommendation about any particular product and all market products may not be considered. If you decide to apply for a credit product listed on Savings.com.au, you will deal directly with a credit provider, and not with Savings.com.au. Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au's Financial Services and Credit Guide (FSCG) The information provided constitutes information which is general in nature and has not taken into account any of your personal objectives, financial situation, or needs. Savings.com.au may receive a fee for products displayed.