Photo by Josh Spires (dronenr) on Unsplash
Easy Street Financial Services and Community First Credit Union introduced home loans with advertised rates below 2.00% p.a, but each are slightly different.
Easy Street and Community First join three others in the sub-2% rate war, however both lenders differ slightly in what's on offer.
- Easy Street: Variable home loan, maximum LVR of 80%, minimum 750k loan, 1.95% p.a. (1.99% p.a. comparison rate*)
- Community First: two-year intro 'Accelerator Package' rate, minimum 100k loan, 1.99% p.a. (3.25% p.a. comparison rate*)
Easy Street's loan requires a maximum LVR of 80%, meaning borrowers will need a 20%-or-greater deposit, and the minimum loan size is $750,000.
With Community First there is a bit of flexibility - the variable loan has a maximum LVR of 80%, while the two-year fixed rate has a maximum LVR of 95%.
The variable rate is an intro rate for two years, and both lenders' rates are for owner-occupiers.
Both lenders are offering their sub-2% home loans as 'special offers' that are only applicable for those who apply and get approved by 31 October 2020.
Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner-occupiers.

Smart Booster Home Loan
Product Features
- Discount variable for 1 year <=80% LVR
- No ongoing fees
- Unlimited redraw facility
Monthly repayments: $1,476
Advertised
Rate (p.a.)
1.99%
Comparison
Rate (p.a.)
2.47%
Product Features
- Discount variable for 1 year
- No ongoing fees
- Unlimited redraw facility
Base criteria of: a $400,000 loan amount, variable, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. If products listed have an LVR <80%, they will be clearly identified in the product name along with the specific LVR. The product and rate must be clearly published on the Product Provider’s web site. Monthly repayments were calculated based on the selected products’ advertised rates, applied to a $400,000 loan with a 30-year loan term.
An Easy Street spokesperson told Savings.com.au that the low comparison rate allows larger borrowers to "cut through a lot of the noise".
"We have higher than anticipated liquidity, [and] the opportunity to provide consumers with a great low rate home loan," they said.
"We know that larger mortgage holders stand to make large savings when switching to a lower rate and we just wanted to let the market know that we can do bigger loans."
Disclaimers
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): Credit Union Australia, 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.
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.
*Comparison rate is based on a loan of $150,000 over a term of 25 years. Please note the comparison rate only applies to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees and costs savings, such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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