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Australia's Best Home Loan Rates Comparison

Compare home loans starting from 5.08% (comparison rate 5.13%).

  • Browse 100+ lenders - fast, easy & free

  • See personalised results in under 2 minutes

  • Get expert help finding your best home loan fit

Michael Burgess
Alex Dore
Deborah Hays

Our dedicated Home Loan team is here to help. Updated 17 Mar 2026.

Home loans Australia

The current lowest home loan rates on our database

Variable rate (p.a.)

5.08% (5.13%)

Comparison rate^ (Max LVR 50%)

1-year fixed rate (p.a.)

5.20% (5.78%)

Comparison rate^ (Max LVR 80%)

2-year fixed rate (p.a.)

5.24% (5.75%)

Comparison rate^ (Max LVR 60%)

3-year fixed rate (p.a.)

5.34% (5.71%)

Comparison rate^ (Max LVR 80%)

4-year fixed rate (p.a.)

5.54% (5.83%)

Comparison rate^ (Max LVR 60%)

5-year fixed rate (p.a.)

5.64% (5.88%)

Comparison rate^ (Max LVR 60%)

Featured Offer

Sponsored

Partner Offer

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Interest rates from

5.54%

p.a.

Comp. rates from^

5.58%

p.a.

Variable Bare Home Loan 90% LVR

Borrow up to $2m with competitive variable rates from 5.54% p.a. (comparison rate^ 5.58% p.a.). Enjoy flexible payment options, zero monthly or ongoing fees, unlimited free redraws and up to 30 year terms. 90% Max LVR applies. Visit site for T&Cs and to check eligibility.

Compare home loan rates in Australia

Instantly compare hundreds of home loan rates and options. We display all the loans on our database, but if you want to check your eligibility with our lender panel, simply hit ‘Compare now’ and we’ll do the work for you.

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Rates updated 17 March 2026

Important Disclosures

Loan amount

ProductInterest rate
Comparison rate
Monthly repayment
Key featuresCompare Now
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Loans.com.au Variable Bare Home Loan 90% LVR

5.54%
p.a. variable
5.58%
p.a.
$2,852
Principal & Interest

Max LVR 90%

Redraw

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HSBC Home Value Loan

5.44%
p.a. variable
5.45%
p.a.
$2,820
Principal & Interest

Max LVR 50%

Redraw

App Fee $600

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Bank of Queensland Economy Variable Home Loan

5.58%
p.a. variable
5.70%
p.a.
$2,864
Principal & Interest

Max LVR 70%

Redraw

Split Loan

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Bendigo Bank Easy Home Loan

5.59%
p.a. variable
5.61%
p.a.
$2,867
Principal & Interest

Max LVR 60%

Redraw

Split Loan

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Macquarie Basic Home Loan P&I

5.59%
p.a. variable
5.61%
p.a.
$2,867
Principal & Interest

Max LVR 60%

Redraw

Split Loan

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CommBank Digi Home Loan Owner Occupied

5.59%
p.a. variable
5.72%
p.a.
$2,867
Principal & Interest

Max LVR 60%

Offset

App Fee $300

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Suncorp Bank Back to Basics Better Together

5.64%
p.a. variable
5.64%
p.a.
$2,883
Principal & Interest

Max LVR 60%

Redraw

Split Loan

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ING Mortgage Simplifier

5.64%
p.a. variable
5.67%
p.a.
$2,883
Principal & Interest

Max LVR 60%

Redraw

Split Loan

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NAB Tailored Home Loan Fixed

5.74%
p.a. fixed 1 year
6.32%
p.a.
$2,915
Principal & Interest

Max LVR 60%

Split Loan

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Westpac Premier Advantage Rocket Repay Home Loan Fixed

5.79%
p.a. fixed 1 year
6.26%
p.a.
$2,931
Principal & Interest

Max LVR 70%

Redraw

Split Loan

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ANZ Simplicity Plus

5.89%
p.a. variable
5.90%
p.a.
$2,962
Principal & Interest

Max LVR 60%

Redraw

Split Loan

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in1bank in1home

5.08%
p.a. variable
5.13%
p.a.
$2,709
Principal & Interest

Max LVR 50%

Redraw

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in1bank in1offsethome

5.18%
p.a. variable
5.62%
p.a.
$2,739
Principal & Interest

Max LVR 50%

Offset

Redraw

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Laboratories Credit Union Simple Home Loan Owner Occupied

5.19%
p.a. variable
5.21%
p.a.
$2,742
Principal & Interest

Max LVR 95%

App Fee $200

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South West Slopes Bank Optimum 1 Year Fixed Rate Home Loan

5.20%
p.a. fixed 1 year
5.78%
p.a.
$2,746
Principal & Interest

Max LVR 90%

Redraw

Split Loan

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BankVic Home Buyer or Upgrade Fixed Rate

5.29%
p.a. fixed 2 years
5.59%
p.a.
$2,773
Principal & Interest

Max LVR 80%

App Fee $600

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Pacific Mortgage Group Owner Occupied Variable Home Loan

5.34%
p.a. variable
5.34%
p.a.
$2,789
Principal & Interest

Max LVR 80%

Redraw

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South West Slopes Bank Optimum 3 Year Fixed Rate Home Loan

5.34%
p.a. fixed 3 years
5.71%
p.a.
$2,789
Principal & Interest

Max LVR 90%

Redraw

Split Loan

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Northern Inland Credit Union Smart Home Loan

5.34%
p.a. fixed 3 years
6.78%
p.a.
$2,789
Principal & Interest

Max LVR 80%

Offset

Redraw

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Gateway Bank Green Plus Home Loan

5.35%
p.a. variable
5.64%
p.a.
$2,792
Principal & Interest

Max LVR 80%

Offset

Redraw

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Move Bank Everyday Variable Home Loan

5.39%
p.a. variable
5.29%
p.a.
$2,805
Principal & Interest

Max LVR 80%

Redraw

App Fee $600

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RACQ Bank Fair Dinkum Home Loan

5.39%
p.a. variable
5.40%
p.a.
$2,805
Principal & Interest

Max LVR 60%

Split Loan

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Gateway Bank Low Rate Essentials

5.39%
p.a. variable
5.41%
p.a.
$2,805
Principal & Interest

Max LVR 50%

Redraw

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Police Credit Union Low Rate Home Loan Special Offer

5.39%
p.a. variable
5.42%
p.a.
$2,805
Principal & Interest

Max LVR 80%

Offset

Redraw

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Australian Mutual Bank GumLeaf Basic Variable Rate Owner Occupied

5.39%
p.a. variable
5.46%
p.a.
$2,805
Principal & Interest

Max LVR 60%

Redraw

App Fee $250

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Freedom Lend FREEDOM VARIABLE

5.39%
p.a. variable
5.79%
p.a.
$2,805
Principal & Interest

Max LVR 60%

Offset

Redraw

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Horizon Bank Home Sweet Home Loan

5.39%
p.a. variable
6.09%
p.a.
$2,805
Principal & Interest

Max LVR 70%

Offset

Redraw

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The Mac Credit Union Discounted Basic Variable Home Loan

5.42%
p.a. variable
7.08%
p.a.
$2,814
Principal & Interest or Interest only

Max LVR 80%

Redraw

App Fee $400

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Bank of China Discount Home Loan - Australian Income

5.43%
p.a. variable
5.64%
p.a.
$2,817
Principal & Interest

Max LVR 80%

Redraw

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Bank of China Discount Plus Home Loan - Australian Income

5.43%
p.a. variable
5.82%
p.a.
$2,817
Principal & Interest

Max LVR 80%

Offset

Redraw

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Unloan Refinance

5.44%
p.a. variable
5.35%
p.a.
$2,820
Principal & Interest

Max LVR 80%

Redraw

WE GIVE A BUCK® about your Home Loan

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Home loans in Australia – March 2026 update

Home loans Australia

Home loan rates rise after back-to-back RBA rate hikes

Home loan rates are set to rise again across both variable and fixed products after the RBA delivered back-to-back 0.25% cash rate hikes this year. For a borrower with a $600,000 mortgage over 25 years, that means repayments will be around $181 higher per month compared to the start of the year. The March rate hike was widely anticipated as escalating conflict in the Middle East pushed petrol prices higher, adding fresh inflationary pressure at a time when inflation remains above the RBA’s 2–3% target range. Competitive variable rates are now in or above the mid-5% range, while lenders are also pushing up shorter-term fixed rates for new borrowers. Right now, home loan rates are starting from around 5.08% p.a. (5.13% p.a. comparison rate) for owner-occupiers on variable loans.

Mortgages in Australia by the numbers

pie chart

Average new home loan

$693,801

Total value of new home loans issued per month

$30.08 billion

Australian homeowners who switch their mortgages each month

30,000+

Lowest home loan rates from

5.08% p.a.

Average monthly repayment (over 30 yrs)

$3,935

Australians who use a mortgage broker for their home loan

76%

Best home loan rates right now

LoanInterest rateComparison rate^ Max LVR
in1bank in1home5.08%5.13%50%
in1bank in1offsethome5.18%5.62%50%
Laboratories Credit Union Simple Home Loan Owner Occupied5.19%5.21%95%
Pacific Mortgage Group Owner Occupied Variable Home Loan5.34%5.34%80%
Gateway Bank Green Plus Home Loan5.35%5.64%80%
Move Bank Everyday Variable Home Loan5.39%5.29%80%
RACQ Bank Fair Dinkum Home Loan5.39%5.40%60%
Gateway Bank Low Rate Essentials5.39%5.41%50%
Police Credit Union Low Rate Home Loan Special Offer5.39%5.42%80%
Australian Mutual Bank GumLeaf Basic Variable Rate Owner Occupied5.39%5.46%60%

Products shown are based on an owner occupier who is refinancing a $500,000 loan, with principal and interest repayments and an LVR of at least 50%. Products are sorted by lowest interest rate, then lowest comparison rate.

LoanInterest rateComparison rate^ Max LVR
South West Slopes Bank Optimum 1 Year Fixed Rate Home Loan5.20% fixed 1 year5.78%90%
BankVic Home Buyer or Upgrade Fixed Rate5.29% fixed 2 years5.59%80%
South West Slopes Bank Optimum 3 Year Fixed Rate Home Loan5.34% fixed 3 years5.71%90%
Northern Inland Credit Union Smart Home Loan5.34% fixed 3 years6.78%80%
Border Bank Customs Value5.44% fixed 2 years5.59%60%
Border Bank Customs Value5.44% fixed 2 years5.63%90%
South West Slopes Bank Optimum 2 Year Fixed Rate Home Loan5.44% fixed 2 years5.77%90%
Horizon Bank Fixed Rate Home Loan5.44% fixed 1 year6.02%70%
Woolworths Team Bank Fixed Interest Rates5.46% fixed 2 years6.67%80%
Move Bank Everyday Fixed Home Loan5.49% fixed 2 years5.24%95%

Products shown are based on an owner occupier who is refinancing a $500,000 loan, with principal and interest repayments and an LVR of at least 50%. Products are sorted by lowest interest rate, then lowest comparison rate.

Applying for a home loan

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GET YOUR LOAN

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Compare home loans the right way

One of the biggest factor that determines your home loan rate is your loan-to-value ratio (LVR). This is your home loan as a percentage of the property you're buying. If you have a low LVR, you'll generally qualify for the cheapest home loan rates. Work out your LVR and then shop around multiple lenders to get the lowest rate you can.

But bear in mind your home loan rate can also be impacted by other factors, including:

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  • Whether you choose a fixed or variable rate
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  • The type of loan (e.g. investor versus owner occupier)
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  • The lender you choose
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  • Your loan amount (some lenders offer lower rates on higher loan amounts, up to a limit)
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  • Your property’s location (some lenders charge higher rates on rural properties)
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  • Your risk profile (if you have good credit and are in stable employment you may qualify with more lenders and therefore better rates)

A cheap home loan rate is something all borrowers should be aiming to get. But what you really want is the cheapest home loan that fits your needs.

What does that actually mean? Let’s take the home loan market in Australia right now. Most of the cheapest rates are on variable rate loans, but these rates are set to rise in line with RBA cash rate changes. If you only compared the absolute cheapest home loans, you might end up on a variable rate that won't be the cheapest for long.

A potentially better way of approaching your home loan comparison is to start by deciding what type of loan and what features make the most sense for you. Then look for cheap home loans – based on interest rate and fees – that are a good match for what you want.

The best way to avoid home loan fees is to shop around. Just remember that it may be worth paying a slightly higher one-off fee if it means you get a lower rate on your home loan. Interest costs generally outweigh fees over time. It's always worth asking the lender if they will waive the up-front fee.

A home loan with a low interest rate will be all the more effective at saving you money if you can combine it with useful features.

Offset account An offset account is a transaction account linked to your home loan that reduces the interest you're charged on your loan. That's because every dollar in that reduces the balance (or 'offsets') the balance of your loan that interest is charged on. Think of it like a high interest savings account, only instead of earning interest, you're avoiding it.

Extra repayments Many home loans offer the option to make additional repayments on top of your minimum mortgage repayments. This allows you to pay down your loan principal faster and save on interest. Fixed-rate loans often have limits on additional repayments of up to $10,000 or $20,000 per year.

Redraw facility Allows you to withdraw any extra repayments you've made on your home loan. You can use your redraw facility for any reason, including emergencies, investments, or other expenses. You can find more in our guide comparing a redraw and offset account.

Cashback offers Some lenders offer refinance cashback deals to attract new customers and incentivise borrowers to refinance their home loans. Some lenders also offer cashback to first-home buyers, but this is less common

This is entirely up to your own preferences. A mortgage broker can help you understand your borrowing power, how much of a home loan deposit you need, compare loans, and will recommend options that match your needs. They can also help with your application when you're ready to apply.

But it's possible to compare home loans and apply directly with a lender, without the help of a broker. It generally comes down to how confident you are comparing loans and taking care of the application admin by yourself.

If you want to compare home loans in a hurry, doing a quick online comparison with Money.com.au will take a matter of seconds. But ultimately if you want to save yourself time overall, speaking to one of our lending specialists means you will have an expert on your side to take care of the application and other paperwork. We also have direct contacts with the lenders on our panel, meaning we can usually get things moving faster for you.

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Did you know? Our analysis of more than 20,000 Money.com.au home loan customers shows the average borrower in Australia has an loan-to value ratio (LVR) of just over 60%, meaning they own around 40% of their property. That level of equity puts a borrower in a great position to access the very best home loan rates available.

3 tips to finding a low interest home loan

Don't be afraid to haggle on rates

Deborah Hays

Debbie Hays, Senior Mortgage Broker

“If you’re refinancing or purchasing a new home and your LVR is less than 70% (in other words you have a deposit or equity of at least 30%), you should be able to get better than the advertised price, especially if your loan amount is under $1 million. Usually, the lender will shave 10-15 basis points off the advertised rate and if they don't, ask why."

Debbie Hays, Senior Mortgage Broker

Looking to refinance?

Everything you need to know about refinancing your home loan.

refinance calculator

Refinance To New Rate Calculator

Refinance calculator

Find out the impact of interest rate changes on your repayments.

Top refinance FAQs

Refinancing your home loan means switching your loan to a different product or lender, or increasing your loan size. For example, you might switch from a variable to a fixed rate loan with your current lender, or stay with the same lender and increase your loan balance. Alternatively you could do the same but with a different provider.

If you’re increasing your loan amount, the lender will generally carry out a credit assessment, even if you’re staying with your current provider. They do this to ensure you can afford the repayments based on the higher loan balance. The lender will usually also arrange for your property to be valued.

If you’re switching lenders to get a better deal, the new lender will treat your application much like they would if you were buying a property for the first time. That means they will assess your financial situation, borrowing capacity and get your property valued.

Once you’re approved, refinance home loans work just like any other kind of mortgage product.

There are several potential costs to factor in if you refinance your home loan. You’ll have most of the same costs as you did when you got your loan initially (e.g. establishment fee and valuation fee), as well as a discharge fee charged by your old lender. Overall, expect to pay between $500 - $2,000.

If you’re staying with the same bank the cost of refinancing is generally lower and may even be nothing if it's a straightforward product switch.

Some lenders have home loan cashback offers for new customers, which could help offset the cost of switching if you're eligible.

Refinancing with a mortgage broker may save you some time, as the broker does a lot of the work for you. It can also be less of a hassle to have an expert do the research for you and simply present you with deals that are better than your current one. Your broker can also negotiate on rates and fees with your existing lender and any new ones you’re considering to make sure you’re getting the best deal possible.

If you decide to go ahead with the switch, your broker will also help with your application and any other paperwork required.

This depends on the type of refinance. If you’re simply switching to a new product with your current lender without increasing your loan amount, this process can be completed in days. If you’re applying with a new lender or borrowing more with your current one, that process could take between 2-6 weeks depending on how complex your application is.

Thinking about cash out?

If you have available equity in your home, you may be borrow more with a cash-out refinance loan.

Nathan’s saving hundreds each month after finding a better home loan rate with Money.com.au

Nathan home loan case study

Nathan from Queensland

"We bought our first house about 12 months ago, but I was talking to the boys at work and everyone seemed to be on a better interest rate than I was. So I figured I’d check it out online and do a home loan comparison and came across Money.com.au. I entered a few details to see if I could get a cheaper rate and ended up talking to Nick, who was awesome. He did exactly what he said he was going to do, made it easy and got everything sorted for me. We ended up saving half a percent on our loan, so as much as the last two RBA rate cuts, and all up we’re saving around $300 a month."

Nathan from Queensland

Help me buy my first home

Frequently asked questions for first home buyers.

A home loan or mortgage is used to finance a home or investment property. Home loans are usually 'secured' against the property you're buying. That means the lender can sell the property to cover the loan amount if the borrower can't repay the loan.

You can choose between a variable rate home loan or a fixed rate mortgage. Mortgage terms in Australia range up to 30 years, though some lenders are now offering 40-year home loans.

Lenders check your credit score when you apply for a home loan. If you have a good credit score, your chances of approval will be higher compared to a borrower with a lower score. Having a high credit score means you're more likely to be eligible with the widest range of lenders, meaning you'll have more scope to get the best deal on your loan.

The process of getting a home loan usually takes somewhere between 2-6 weeks from start to finish. But it can take longer if there are any complications. It’s important to allow time to thoroughly research and compare options, complete your application carefully, gather and provide all supporting documents (pay slips etc.) and then wait for the lender to assess your application. If you’re approved, you will need to review and sign the loan contract.

If you have signed a contract to buy a house subject to finance, most lenders will prioritise your application to meet the timing of the finance clause (typically 14 days).

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  • Owner-occupier home loan: This is a standard home loan to buy a property you want to live in.
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  • Investment home loan: You can take out this home loan to buy an investment property (one from which you can get rental income).
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  • Variable rate home loan: This is a home loan where the interest rate can go up or down throughout the life of the loan.
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  • Fixed rate home loan: The interest rate on the loan is fixed for a period of time — typically between one and five years.
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  • Interest-only home loan: You only pay the interest component of your loan for a set period (up to five years).
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  • Principal & interest home loan: You pay both the principal of your home loan and the interest throughout the loan term.
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  • Construction loan: Designed for borrowers who plan to build a home or investment property, allowing you to withdraw funds in stages as needed to complete the construction.
  • circle-green-tick
  • Land loan: A property loan used specifically to purchase vacant land or a house and land package.
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  • Low deposit home loan: Allows you to buy a home with a 5-10% deposit, instead of the standard 20% of the property’s value most lenders require.
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  • Low doc home loan: A low doc home loan requires minimal documentation when you apply. It’s often used by business owners or self-employed individuals who can’t provide the standard documents most lenders ask for, like payslips.
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  • Guarantor home loan: A guarantor home loan is backed by another person, typically a parent or family member, with home equity that’s used to secure your loan.
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  • Bridging loan: A short-term loan designed to cover the financing gap between purchasing a new property and selling an existing one.
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  • SMSF loan: This is a home loan used by a self-managed super fund (SMSF) to purchase an investment property.
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  • Bad credit home loan: Allows borrowers with a bad credit score/credit history to secure a home loan and purchase property.
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BIG NEWS FOR FIRST HOME BUYERS! The Federal Government has kicked off its planned expansion of the First Home Guarantee scheme as of 1 October 2025. This means all eligible first home buyers can now get a home loan with a deposit of as little as 5%, without paying for lender’s mortgage insurance (LMI).

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Find out how you can use the equity in your existing property to buy another one. Learn the ins and outs of usable equity with our expert tips.

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By Shaun McGowan

More of our happy home loan customers...

"Great service and very helpful "

Darrell Graham5 days ago

"Great customer service,,,"

helen elliott6 days ago

"Very helpful "

Luke Pollack6 days ago

"Thank u nick. Amazing 5 star ⭐️ service. "

RAKESH2 weeks ago

"Nick was awesome. Very helpful and it was a really smooth process. He got us a great rate. Thank you!!!"

customer2 weeks ago

"Nick was very knowledgeable and explained everything really well. It also didnt take too long."

Karen Foster2 weeks ago

"It was lovely to speak with someone that understood what we needed and we could understand exactly what he was saying. Very clear and precise on what we were receiving and was able to go through a mass of information within a reasonable time. I would highly recommend our particular consultant."

JBell3 weeks ago

"Nick Burgess was first class. He constantly kept us on track and managed our expectations. We could bid at auction knowing exactly where we stood with finance. Importantly, the rates were on point too. Settlement was smooth and on time. Highly recommended "

Jason Nealon2 weeks ago

"Nick Burgess made my refinance very straightforward - recommending lenders based on my circumstances and the best rates possible, addressed all my questions quickly - made the whole process simple and very pleased with the result👌🏼"

Ruth Pirrie2 weeks ago

"From my first phone call to my last, working with Nick was fantastic. He consistently kept me updated, always answered my calls, and secured the best home loan compared to all competitors. Nick made the entire process feel seamless and completely stress-free. I received my home loan approval in record time! I’m so thankful and incredibly happy. Highly recommend Nick from Money.com"

Kelvin B1 month ago

"I recently completed a refinance and Nick Burgess from Money.com did an amazing job. He was professional, proactive, and extremely knowledgeable, making the entire process smooth and stress-free. Nick clearly explained every step, kept me updated throughout, and ensured the best possible outcome for my situation. Highly recommend Nick and the team at Money.com to anyone considering a refinance or any type of loan."

Michael Delshab2 months ago

"Nick and his team managed to provide us with a great deal on our home loan refinance, and coordinated it quite well even when I was overseas on holiday. The whole process was seamless and we are thankful for their services, I would recommend them highly to anyone looking to refinance or get more out of their mortgage!"

Nelson Raj2 months ago

"Nick was great to deal with, really helpful and knew what he was doing. Found ways to make it work when others i tried before him could not. Cheers Nick"

clayton gillespie quinn2 months ago

"Michael Burgess was amazing. He listened to what I needed and was able to assist when others were not interested or willing. The entire experience was very seamless once I was ready to proceed with refinancing. The process once started was very fast. No questions were too stupid and I was fully aware of what was happening at every stage. Michael was always very responsive and provided great advice every step of the way. I would have no hesitation in recommending Michael and money.com.au"

Luke Clarke2 months ago

"Nick was fabulous! He got us the best deal that meeting all our needs! "

Elena Tinker2 months ago

"Helpful and communicative right through the process"

Linsey bryan2 months ago

Showing our favourite reviews.

More Home loan FAQs

The best home loan rates are generally available to owner occupiers with a low loan-to-value ratio. In other words, if you have a large deposit or a high level of equity in your home relative to the loan amount, many banks will offer a lower rate. That’s because these loans are less risky for lenders.

Investors and other borrowers perceived as presenting a greater risk to lenders are generally charged higher home loan rates.

In addition to shopping for the lowest interest rate, here are some simple tips from Money.com.au’s home loans expert and mortgage broker, Debbie Hays, to help you shave time and money off your mortgage.

1. Switch to fortnightly repayments By making fortnightly repayments instead of monthly, you'll make the equivalent of an extra month's repayment each year without even realising it. There are 26 fortnights a year, the equivalent of 13 monthly repayments. This helps reduce your loan balance sooner and your total interest paid over the life of the loan.

2. Increase your repayments by 5-10% If your budget allows, consider making extra home loan repayments (however small). For instance, increasing your fortnightly repayments on a $600,000 loan at 6.00% interest over 30 years by just 5% (adding $115 each fortnight) could save you $100,310 in interest overall and shave three years off your home loan.

3. Use your offset account Keep your household income and savings in your offset account to reduce your interest payable. For a $600,000 home loan with a 6.00% interest rate and fortnightly repayments, having $20,000 in your offset account could shave two years off the loan's life and save $91,742 in interest.

4. Refinance every 2-3 years Consider refinancing to a lower interest rate every 2-3 years if the market allows, while also reducing your loan term by one year each time. For instance, refinancing a $600,000 home loan from a 6.00% rate on a 25-year term to a slightly lower rate of 5.80% on a 24-year term would slightly reduce your monthly repayments and save you $47,017 in interest over the life of the loan.

5. Aim to lower your LVR To get the best home loan interest rate, your LVR should be 60% or less. Every borrower should aim to lower their LVR to 60% as soon as possible. You can do this by paying down your mortgage when you can or by building the equity in your home by increasing its value.

It could be some time before we see lower home loan interest rates in Australia. The RBA increased the official cash rate at its first Board meeting of 2026 and, more broadly, interest rates (particularly fixed rates) have been on the rise at the start of the year.

Experts anticipate further rate increases to come this year, as the battle against high inflation drags on.

Switching your loan is likely to be the only way to get a lower mortgage rate for the foreseeable future.

The minimum eligibility requirements for a home loan include:

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  • Australian citizenship or permanent residency (or married or in a de facto relationship with an Australian citizen or permanent resident)
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  • Being over 18 years of age
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  • Meeting the minimum income requirements
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  • Having enough of a deposit for a new purchase or equity if you're refinancing an existing loan
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  • A good credit history

The home loan that’s best for you will depend entirely on your goals and circumstances, but it should ideally have the trifecta:

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  • A competitive interest rate
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  • Features you want or need (e.g. offset, redraw, additional repayments)
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  • Low fees

How much you can borrow with a home loan will depend on how much of a deposit you have (or equity in your existing property if you’re refinancing), plus your income, expenses, liabilities (including outstanding debts) and whether you have any existing assets like an investment property with equity.

To assess your borrowing capacity, lenders will consider your financial situation and credit profile.

You generally have the option to make repayments on your home loan weekly, fortnightly or monthly.

Your mortgage repayments will include a principal (what you borrowed) and interest component. There's also the option to get an interest-only home loan, where you'll only pay the interest for a set period of time.

If it's a principal and interest (P&I) loan, initially a larger portion of your repayments will go towards paying off the interest. But over time, more of your repayments will go towards reducing your principal. This is because interest is calculated daily based on your outstanding loan balance, which decreases as you repay more principal over time.

Yes, and you should! Home loan interest rates are constantly changing and if yours is no longer competitive, you should ask your lender for a discount. Particularly if you have an LVR below 60% and you are on top of your repayments, you should be in a strong position to negotiate. If your lender will not offer a discount, you can consider switching lenders to get a better rate.

Typically, you can opt to fix your home loan rate for a period ranging from one to five years. However, some lenders, such as ANZ and RAMS, provide fixed-rate home loans for up to 10 years.

The comparison rate on a home loan is designed to more accurately reflect the total cost of the loan per year, including interest and most fees. Lenders and mortgage brokers must advertise the comparison rate alongside a loan's interest rate.

The comparison rate can be a helpful tool for comparing loans, but it has its limitations. For example, it is always calculated on a loan size of $150,000 over a 25-year loan term, which won't be realistic for a lot of borrowers. On a fixed-rate loan, the comparison rate factors in the rate the loan reverts to once the fixed term ends, meaning it can be quite different to the rate you'll actually be paying during the fixed term.

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Jared Mullane is a finance writer with more than a decade of experience at some of Australia’s biggest finance and consumer brands. His areas of expertise include energy, home loans, personal finance and insurance. Jared is qualified with a Certificate IV in Finance and Mortgage Broking (FNS40821).

Sean Callery is the Editor of Money.com.au. He has over 15 years of international experience. He is qualified with a Certificate IV in Finance and Mortgage Broking (FNS40821) and is compliant to provide general advice in Tier 1 General Insurance (RG 146) products.

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Important Disclosures

Home loan comparison rates are calculated based on a loan amount of $150,000 repaid over a 25-year term with monthly repayments. The comparison rates only apply to the examples given. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Check with the provider for full loan details, including rates, fees, eligibility and terms and conditions to make sure the product is right for you.

General information only

The information on this page is general in nature and has been prepared without considering your objectives, financial situation or needs. You should consider whether the information provided and the nature of any home loan product is suitable for you and seek independent financial advice if necessary.

We are not providing you with a recommendation or suggestion about a particular home loan. You should read the relevant disclosure statements or other offer documents before deciding whether to apply for or continue to use a particular product.

What products, features and information are shown

While we make every effort to ensure all home loans available in Australia are shown in our comparison tables, we do not guarantee that all products are included.

Our product comparisons may not compare all home loan features and attributes relevant to you.

Product information, such as interest rates, fees and charges, is subject to change without notice. Before acting on any information, you should confirm the relevant product information with the lender.

How home loans are sorted and filtered by default

When results load initially in the main comparison table on this page, we show relevant loans from our sponsored partners first, then all loans on our database starting with the lowest relevant rate available from each of Australia's top 10 largest lenders first (top 10 is according to APRA, based on total value of loans per lender). We know these are the rates our customers are most interested in seeing. After these initial results, we show all products on our database, sorted as follows:

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  • Lowest regular repayment amount, then;
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  • Loans interest rate, then;
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  • Lowest comparison rate, then;
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  • Provider name (A-Z)

Some home loan products listed in our tables are available through a mortgage broker. Mortgage brokers may not be able to offer loans from every provider and there may be more suitable loans for your personal circumstances.

Mortgage brokers are not authorised by Money Pty Ltd's Australian Credit Licence and operate under their own Australian Credit Licence, or as a credit representative of another Australian Credit Licensee. Mortgage brokers can make recommendations about home loan products that may suit your objectives, financial situation and needs.

Our tables feature all home loans available from lenders on our database that match the search criteria selected. Lenders do not pay to feature in our tables. Partner lenders with loans marked as ‘sponsored’ may pay a commission to Money.com.au if you click to visit their website.

If you get help from a mortgage broker as a result of visiting this page, we may earn a commission.

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Money Pty Ltd (trading as Money) (ABN 42 626 094 773) Australian Credit Licence 528698 provides information about credit products. Money does not compare all products or issuers available in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product. We may receive a commission when you apply for a home loan as a result of outbound links on this website.

This material has been prepared by Money Pty Limited (ABN 42 626 094 773) (Money, ‘us’ or ‘we’). Money is a corporate authorised representative (CAR 001318745) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573) (62C). The material is for general information only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with financial or tax advice and does not take into account your objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, Money, any of their related body corporates or any other person. To the maximum extent possible, 62C, Money, their related body corporates or any other person do not accept any liability for any statement in this material.

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Assumptions:

  • The calculations do not account for changes in interest rates or other market conditions that may occur.
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