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.
Lender | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Variable | More details | ||||||||||||
FEATURED | Variable Home Loan (LVR < 70%)
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Variable Home Loan (LVR < 70%)
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Variable | More details | ||||||||||||
FEATUREDREFINANCE ONLY | Variable Rate Home Loan – Refinance Only
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Variable Rate Home Loan – Refinance Only
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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%)
| |||||||||||||
Variable | More details | ||||||||||||
NO ONGOING FEES | Yard PAYG Home Loan (Principal and Interest) LVR ≤ 80%
| ||||||||||||
Yard PAYG Home Loan (Principal and Interest) LVR ≤ 80%
|

- Min 30% deposit
- No monthly or ongoing fees, add 0.10% for offset
- Unlimited redraws
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 August 15, 2022. View disclaimer.
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. 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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