Get a home loan rate below 5% without even negotiating

Home loan comparison rates table

Rates last updated February 2nd, 2015
Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Dream Home Loan Offset Variable - <90% LVR
Pay no application fee when you take up this low rate variable home loan offer with a 100% offset account facility. Backed by Firstmac, is an award winning home loan lender.
4.48% 4.50% $0 $0 90% Go to site More info
Beyond Bank Standard Variable Rate Home Loan - Special Offer LVR 80% $150K+
100% offset account and a low interest variable rate home loan offer.
4.59% 4.59% $0 $0 80% Go to site More info
Bankwest Super Start Home Loan
No application fee or ongoing monthly fees and a low introductory rate for 3 years.
4.59% 5.45% $0 $0 80% Go to site More info
NAB National Choice Package Home Loan - 5 Year Fixed
Lock in a fixed interest rate for 5 years and pay no application fee.
4.99% 5.54% $0 $395 95% Go to site More info
Citibank Mortgage Plus Standard Variable Rate - LVR ≤ 80%
Apply for this discounted variable rate package from Citibank and receive this limited time special offer.
4.68% 5.03% $0 $350 80% Go to site More info
CUA Fresh Start Home Loan
100% offset account and a low variable interest rate.
4.65% 4.66% $0 $0 80% Go to site More info
HSBC Home Value Loan
HSBC Home Value Loan offers a low variable interest rate with no monthly fees.
4.73% 4.75% $0 $0 90% Go to site More info
Bank of Queensland Clear Path Variable Rate Home Loan - Standard
A variable rate interest home loan offer with offset and redraw facility. No application fee.
4.87% 5.00% $0 $120 95% Go to site More info
NAB National Choice Package Variable Rate - ($250,000 to $499,999)
A great variable package home loan from NAB which includes offset and redraw features. No application fee to pay.
5.08% 5.46% $0 $395 95% Go to site More info
Newcastle Permanent Fixed Rate Home Loan - 2 Years Fixed
Fix the interest rate for 2 years and have an option to split the loan.
4.39% 5.37% $0 $0 95% Go to site More info
Bankwest Online Home Loan
Exclusive online offer. Applicants must apply online to secure this rate.
4.88% 4.89% $0 $0 80% Go to site More info Dream Home Loan​ Fixed - 3 Year Fixed Rate
Low rate 3 year option with no ongoing fees or application fee. Backed by FirstMac, is an award winning home loan lender.
4.59% 4.52% $0 $0 90% Go to site More info
ING  DIRECT Orange Advantage Loan - $250K+ (LVR ≤ 80%)
Enjoy a home loan package which includes a 100% offset facility with no annual fee for the first year.
4.83% 5.02% $0 $199 80% Go to site More info
IMB Fixed Rate Home Loan - 1 Year Fixed (LVR < 90%)
Save on interest with a fixed interest term with a loan that allows additional repayments in the fixed term.
4.59% 5.39% $445 $72 90% Go to site More info
Greater Building Society Discount Ultimate Home Loan - $300K+ and LVR <80%
A discounted home loan package with offset account and a fee free transaction account.
4.74% 5.12% $0 $375 95% Go to site More info
NAB National Choice Package Home Loan - 2 Year Fixed
A low fixed rate home loan package with offset. No application fee.
4.84% 5.58% $0 $395 95% Go to site More info
Citibank Mortgage Plus Fixed Rate - 3 Year Fixed Rate
A low annual fee packaged home loan with option to split the loan without paying extra. Includes free 60 day rate lock.
4.74% 5.18% $0 $350 80% Go to site More info
Greater Building Society Ultimate Fixed Rate Home Loan - 1 Year Fixed
An attractive 1 year fixed home loan offer which allows redraw access.
4.29% 5.25% $0 $375 95% Go to site More info
Bank of Queensland Fixed Rate Home Loan - 3 Year Fixed Rate
Borrow up to and fix in a 3 year home loan rate. Access your account via internet and phone banking.
4.79% 5.81% $300 $120 95% Go to site More info
CUA Fixed Rate Home Loan - 3 Year Fixed
Lock in a competitive rate for three year with CUA.
4.69% 5.26% $600 $0 95% Go to site More info
IMB Budget Home Loan - LVR < 90%
Enjoy a discount over the life of the loan.
4.76% 4.93% $445 $120 90% Go to site More info
NAB National Choice Package Home Loan - 3 Year Fixed
Fixed interest terms for 3 years and further discounts on NAB products.
4.94% 5.57% $0 $395 95% Go to site More info
HSBC Fixed Rate Home Loan - 3 Year Fixed Rate
A low rate fixed home loan with no service fee.
4.69% 5.50% $600 $0 90% Go to site More info
Aussie Mortgage Broker Deal
Access a great low rate through Aussie Mortgage Brokers.
4.69% 4.70% $0 $0 95% Go to site More info
Enter your details to speak with a Mortgage Broker
eChoice logo

Fill in the form and you’ll be called by a specialist mortgage broker from eChoice to have an obligation-free discussion about your options.

Your eChoice broker will compare hundreds of home loans from more than 25 lenders to help you find the right loan for you. They’ll also help you calculate your borrowing power, and present your options in a free home loan report.

eChoice is an award-winning broker with over 15 years of experience, and has helped more than 50,000 Australians to find the right home loan. Dream Home Loan Offset Variable - <90% LVR

Refinance Home Loan Offer

A low interest home loan offer with $0 application fee.

  • Interest Rate of 4.48% p.a.
  • Comparison Rate of 4.50% p.a.
  • Application Fee of $0
  • Maximum LVR: 90%
  • Minimum Borrowing: $50,000
  • Maximum Borrowing: $2,000,000

What is a home loan and how does it actually work?

A home loan is a long term loan taken out to help you afford a property, whether that be to purchase a home or investment property. Home loans generally have terms between 25-30 years, and an interest rate lower than a credit card. A home loan also has a rate which can be either variable or fixed. If your rate is variable, it can change as your lender sees fit, usually in response to economic factors and the cost of funding. If it's fixed, you can enjoy a rate which won't change over the course of the fixed term, usually between one and five years.

How do home loans work?

You can use the calculator below to get an idea of how much your repayments could be.

The quick guide to the home loan application process


Do you have any advice for comparing home loans?

How you choose to compare a home loan depends on you. These are some good questions to get you started on the path to finding the right loan:

  • Does the lender have a branch network? As mentioned above, some loans may offer a lower rate but might not have a branch network. Is speaking to someone face-to-face important to you?
  • Does the loan have package benefits? Some loans offer bonus Qantas Points, or credit cards which earn Qantas Points. Package loans can also offer discounted insurance and credit card annual fees.
  • Can I change my splits when I want to? If you choose a split rate, can you later change this when necessary?

What the hell is a 'comparison rate' exactly?

A home loan comparison rate is an interest rate which includes many of the fees and charges you'll pay on your home loan. It's made up using the interest rate, loan amount, length of the loan, how often you'll make repayments, and the fees and charges associated.

The following example shows how a loan with a seemingly lower interest rate can actually have a higher comparison rate when fees are added in.

Advertised interest rate Fees & Charges (percentage of total home loan cost) Comparison Rate
Home loan 1 5% 0.7% 5.7%
Home loan 2 5.25% 0.4% 5.65%
Home loan 3 4.8% 1% 5.8%

Most home loans calculate comparison rates using the same example, regardless of how much you're borrowing. This example is a $150,000 loan taken out over 25 years.

Because of this, the comparison rate you're paying can change when larger loan amounts and different loan terms are introduced, so while it can be useful when comparing loans, it should not be the only method you use.

You can compare these in the home loan comparison rates table above.

What's pre-approval and do I need it?

Pre-approval for a home loan simply means your lender will 'conditionally' approve you for a specific amount based on the information you've given them, namely your income, debts and liabilities. It's usually extended for a number of months, allowing you to look for a property with a bit more confidence. A pre-approval is not an offer of credit, so your lender is still under no obligation to approve your loan when it comes to crunch time, but on the plus side, it can signal to agents and property vendors that you're serious about buying a property.

It's very important to note that pre-approval conditions can differ depending on the lender, so read our expert guide to find out what to look for.

I haven't saved much, can I apply with no deposit?

At the time of writing, Australian lenders don't offer no deposit loans to borrowers unless you have a guarantor. A guarantor is a close family member such as a parent who has guaranteed a part of their property to cover a portion of your home loan, usually your deposit. In these situations, you would be able to purchase a property without a deposit. Not every lender will offer these types of loans, but we've compared them and written a guide about how they work.

Should I go with a major bank or smaller bank/non-bank lender?

Even if your lender goes bust, your loan can be purchased by another lender, meaning that you'll continue paying your loan off as usual. In general, home loan lenders, regardless of whether they're a bank, credit union or building society will have to abide by the same strict guidelines and laws.

The competitiveness of the industry means that both types of lenders offer a range of loans which have appealing interest rates and features. This makes choosing between the two a matter of personal preference. Ask yourself:

  • How do you bank? Major banks will usually have extensive branch networks, whereas smaller lenders may operate online only, or have a small number of branches in only one region or part of Australia.
  • What kind of customer service do you expect? This links in with the above. If you like to receive help when making banking decisions, you may want a lender with a branch network or highly rated phone service. If you prefer to carry out your banking and home loan decision making yourself, this might not be as important to you.
  • What sort of feedback has the lender received? Product reviews can be a good way of finding out how a lender actually treats their customers, as can speaking to family, friends and mortgage brokers. Customer service is difficult to rate, so asking around can help you get a feel for how a lender will treat you.

What's the difference between a bank and a not for profit credit union?

Unlike a bank, a credit union is owned by its members, meaning profits go back into products and services. In some cases a credit union might also be limited to only offering products to workers in a specific industry. The final difference between the two is that a credit union, while still able to accept deposits in the form of savings accounts and term deposits, will not hold a banking licence.

Compare credit union home loans

Is there a catch with online or non-bank lenders?

You might see many smaller and less known lenders offering what seem to be rock bottom interest rates on their home loans. In most cases, these lenders are just trying to attract new customers, and are offering competitive rates to do so. In the case of some lenders, in order to offer low rates they may not offer branch banking, or not offer features such as an offset account.

Many of these lenders are in fact backed or funded by large well known banks. These include UBank, which is the online arm of NAB, and, which is an online lender backed by mortgage giant Firstmac. If you're ever concerned about a lender, search them online and see what others are saying about it. Check message boards and also read through the terms and conditions for the loan to see if there are any catches.

Am I eligible for a home loan if...

  • I'm on a pension? You might be: many lenders will see a pension as they would a regular salary or wage but not all will.
  • I'm a casual or seasonal worker? You could be, but as above, you will need to select the appropriate lender.
  • One of us is on maternity leave? You might be, although whether or not your lender approves your loan will depend on your income taking this into account.
  • If I've recently gotten a new job? Some lenders will only want to see borrowers at least out of probation, while others will want to see a borrower in the same job for at least six to 12 months.
  • I'm on a single income with a child? As always, lenders want to know you can afford repayments, so will approve or deny your application taking into account your income, debts and liabilities.
  • If have a low income? This depends. Whether your income is large enough to afford a home loan depends on the size of your deposit, the amount you're borrowing and more.
  • I have bad credit? Many home loan lenders today offer solutions to those with credit impairment. Also, note that most regular banks will consider some bad credit applications if you explain your situation and the steps you've taken to solve it.

In most cases, the simplest way to find out what home loans are suitable to you is to speak to a mortgage broker. They are experts who have knowledge of the different lenders and their eligibility requirements, and can save you the hassle of applying for a loan and getting knocked back. They're usually free to you, as they earn a commission from the lender when you take out the loan. You can speak to a mortgage broker by filling out this form, or you can use the home loan comparison table above to start your own search. Sometimes it's also useful to make your own home loan comparison spreadsheet by selecting a few of the loans you're interested in and comparing them side-by-side.

Can I negotiate my home loan rate?

The home loan market is highly competitive, and this means that the majority of lenders will provide discounts to advertised rates if you ask. The following helps when negotiating:

  • Get your credit file in order. A good credit file, in addition to your employment type and income, can demonstrate that you're a good risk for the bank to take on.
  • If you plan to purchase further properties or apply for more banking products in the future, let the lender know, as they might offer a better rate to secure your future business.
  • Let the lender know you're in no rush, have done your research, and have no qualms with walking away from the deal.

Also know that in general, the more you borrow and the larger your deposit, the better the discount.

What fees will I have to pay on my home loan?

Home loans can come with upfront fees, ongoing fees and exit fees, which are explained more in the section below. Not every loan will charge these fees.

Upfront fees
  • Application fees - This fee pays for your lender to process and finalise your application. This can also be called an establishment fee.
  • Settlement fees - The settlement fee covers the cost of transferring funds from your lender to you.
  • Valuation fees - Your lender will have your property independently valued to make sure that the purchase price is reasonable.
  • Legal fees - A legal professional will need to look over your application to make sure it's compliant.
Ongoing fees
  • Annual fees - Package home loans offer a discounted rate and fee waivers, but usually charge an annual package fee of a few hundred dollars.
  • Monthly fees - Some loans can charge account keeping fees each month, which are usually below $15.
  • Redraw fees - Certain home loans may have a fee if you use redraw (a facility which lets you withdraw extra repayments you've made on your home loan). This might be waived if you conduct your redraws online.
  • Offset account fees - An offset account is linked to a home loan and helps you save money. It can also come with a monthly fee.


What paperwork do I need to give my lender when applying for a home loan?

Your lender will want to work out whether or not you can afford a home loan, so will want to see a bit of information from you. This includes:

  • Personal details. This includes your tax file number; the numbers of your accountant, solicitor and conveyancer; your driver's licence number, phone contact numbers, address and your full name. These details are used to identify you.
  • Employment details. Your lender wants to know your income is enough to cover the loan, and that it's also as much as you say it is. This means they'll want to know where you work, what you do there, how long you've been there, your employment type, and your employer's contact details. You may have to supply a letter of confirmation from your employer and your tax return or group certificate. If you work for yourself, you'll need to provide more information, such as your BAS, ABN and more.
  • Financial details. As mentioned above, your lender will want to know how much you earn. They'll want to see recent payslips to know how much you earn, as well as details of your expenses and debts. How many dependent children do you have? What's your credit history like? Do you have any personal loans or credit cards? Your lender will want to see bank statements, your credit file (they'll get a copy for themselves) and any relevant information from your past lenders.
  • Information about your property. The exact paperwork required will depend on the type of property you're buying. If you're buying a home, you'll need to give your lender a copy of the sale contract. You'll also need to tell your lender information such as: the address of the property you're buying, it's market value, the type of property, the number of rooms in the property and more. If it's an investment property, you'll need to give your lender a statement from the real estate agent which mentions the rent the property is currently earning, or has the potential to earn.

Will my credit report impact my application?

The short answer is yes, your credit history will be important when your lender evaluates your application. Lenders want borrowers who have good track records when paying back their credit cards and past loans, as this can be a good indication that they'll pay back this new home loan.

The long answer is that your credit file can be treated differently depending on the lender. Some banks will automatically decline applications with defaults, while others might give you a change to explain why you defaulted on a loan, and the steps you took after defaulting. Other specialist lenders like Pepper, Bluestone Mortgages and Liberty can consider a range of borrowers with credit impairment issues.

How important is your credit history when applying for a home loan

Can I pay my loan off early?

All loans can be paid off early, although the type of loan you have might mean the difference between paying expensive exit fees or not. If you have a variable rate home loan, early exit fees aren't charged, as they were banned by the government in 2011, but with a fixed rate home loan, you'll still have to pay exit fees if you decide to leave your loan during the fixed term.

The actual act of paying your loan off early is simple. Just contact or visit your lender, and tell them you want to make a lump sum payment to pay off your home loan, or alternatively just make larger payments each month until your loan is paid off early.

Back to top
  • Dream Home Loan Offset Variable - <90% LVR Dream Home Loan Offset Variable - <90% LVR A competitive rate with 100% offset account, split rate options, unlimited free redraws and the backing of Firstmac, a leading Australian non-bank lender. More info
  • Beyond Bank Standard Variable Rate Home Loan - Special Offer LVR 80% $150K+ Beyond Bank Standard Variable Rate Home Loan - Special Offer LVR 80% $150K+ No application fees or monthly fees and a variable interest home loan with offset account. More info
  • Newcastle Permanent Fixed Rate Home Loan - 2 Years Fixed Newcastle Permanent Fixed Rate Home Loan - 2 Years Fixed A high maximum LVR fixed rate home loan. More info
  • NAB National Choice Package Home Loan - 5 Year Fixed NAB National Choice Package Home Loan - 5 Year Fixed Enjoy a competitive variable rate package loan from NAB. More info

Ask a Question

Disclaimer: At we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
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67 Responses to Get a home loan rate below 5% without even negotiating

  1. Default Gravatar
    alex | January 28, 2015


    I am looking to loan around $180,000 for my first home. I have a $75,000 deposit.

    I am just not sure as how to decide which company to go with. Is it advisable to go with one of the main banks, or other loan companies with smaller interest rates? I’m just not sure about all the small print, whether there will be hidden costs along the way etc. And i don’t know how i should make the decision, as its obviously not as easy as just choosing the cheapest company that comes up on your calculator, (which happens to be: ‘Dream Home Loan Offset Variable – <90% LVR' when i do the search).



    • Staff
      Shirley | January 28, 2015

      Hi Alex,

      Thanks for your question.

      The decision is ultimately up to you. Smaller banks are just as safe as the big ones because all financial institutions in Australia are regulated by independent government bodies, such as APRA and ASIC.

      They have to be authorised to operate in the financial industry and you can check its credit rating displayed on their website.

      We also have an article about choosing a lender that may be helpful to you.

      All the best,

  2. Default Gravatar
    Damian | January 19, 2015

    Do ING Direct have customer representatives who will meet their clients face-toface or are they purely over the phone and online application process orientated?
    Thanks, Damian.

    • Staff
      Shirley | January 19, 2015

      Hi Damian,

      Thanks for your question.

      ING Direct have one customer service centre located in Sydney. Otherwise, the institution operates online and over the phone.


  3. Default Gravatar
    Kingsley | December 29, 2014

    My partner and i are new small business owners.
    But still are both on disability support pensions, we also have a disabled son that is on DSP.
    Do any lending institutions loan on Pension payments
    We have $10,000 cash and can afford $1,400 per month at this stage.

    • Staff
      Shirley | December 29, 2014

      Hi Kingsley,

      Thanks for your question.

      Most lenders can offer loans as long as the pension isn’t your primary source of income. It’s advisable that you speak to a mortgage specialist who can point you in the direction in terms of a lender.


  4. Default Gravatar
    aziz | December 4, 2014

    can I refinance home loan to settle my credit with AKPK

    • Staff
      Shirley | December 5, 2014

      Hi Aziz,

      Thanks for your question.

      It looks like AKPK is a educational service, it seems like they don’t issue any products themselves.

      It’s advisable that you get in touch with them directly to discuss any credit needs you may have.


  5. Default Gravatar
    KS | December 4, 2014

    My husband has an investment loan and an offset acct linked to it, both in his name. I want to start either making regular monthly payments into the offset account or depositing my whole salary into it. In both cases I’d like to be able to get access and make withdrawals from this account as well. Can this be made and how, or there is no way at all (making it a joint account even it is not now, or something similar – I’ve heard a term ‘signatory to the investment home loan’ – without fees or refinancing)
    Thank you

    • Staff
      Shirley | December 4, 2014

      Hi KS,

      Thanks for your question.

      It will depend on your lender, but in most cases if you’d like your name on the title of the property too it might involve refinancing.

      Signatory authority means that you’ll be able to use and deposit into the offset account, but it might not mean that you’re automatically added to the title of the property.

      Please get in touch with your lender directly and they’ll be able to explain what options are available to you.

      All the best,

  6. Default Gravatar
    TST | November 26, 2014


    My wife and I are looking to purchase a home. We will have at least 10% deposit and a decent combined income. The issue is a default against my name due to a credit card debt being handed to a credit company. I nearly have the debt paid, but there is a default listed in my name.

    It also does not look good because I have only been paying the $4000 debt back at $100 per fortnight, plus a few lump sums here and there. I will have it completely paid by early next year. I know things like this are hard to comment on since you do not have all details.

    My query lies with what suggestions you have to better my chances at having a home loan approved. I have read about credit repair but know very little about it. Could you offer some advice?

    Many thanks.

    • Staff
      Shirley | November 27, 2014

      Hi TST,

      Thanks for your question.

      You may want to approach a mortgage broker that specialises in bad credit home loans. Lenders such as Pepper Home Loans and Fox Symes also specialise in issuing home loans for people with bad credit.

      Repairing your credit is another option, but since it’s a default listed on your credit history, generally you’ll need to wait a certain period of time before they’re removed. However, it’s advisable that you speak to a credit agency about this to discuss your options.

      All the best,

  7. Default Gravatar
    Jill | November 22, 2014

    How can I get a housing loan on a pension?

    • Staff
      Shirley | November 24, 2014

      Hi Jill,

      Thanks for your question.

      Please check out our guide ‘home loans for pensioners’. It’s advisable that you speak to a mortgage broker to discuss your options and eligibility.


  8. Default Gravatar
    Shaun | October 31, 2014

    Are there any lenders that will allow you to borrow 100% of the value of a property?

    • Staff
      Shirley | October 31, 2014

      Hi Shaun,

      Thanks for your question.

      Unfortunately 100% home loans are only available if you have a guarantor. If you’d like to know more about these types of loans, please see this page.


  9. Default Gravatar
    George | October 27, 2014

    My daughter is earning $40,000 per year minimum How much could she borrow for a new home loan?

    • Staff
      Shirley | October 27, 2014

      Hi George,

      Thanks for your question.

      Please use our borrowing power calculator to help give you an indication of how much your daughter can borrow.


  10. Default Gravatar
    Charelle | October 13, 2014

    i have paid up all my bad debt am just having 3 more accounts being debited from my account is this a problem to find a place that will give me a homeloan for my first house

    • Staff
      Shirley | October 14, 2014

      Hi Charelle,

      Thanks for your question.

      It might be a good idea to check your credit history first to see where you stand. If you have a good credit standing then you’ll be eligible for most home loans on the market. If you currently have bad credit, you may want to have a look at our bad credit home loans page.

      Alternatively you may want to speak to a mortgage broker, they’re home loan experts who can help you find the right loan for your situation.


  11. Default Gravatar
    Luke | September 15, 2014

    Hey guys currently have a home loan with keystart. With 337,000 left to pay
    But am currently looking at refinancing got an offer from ANZ for 5.08% on their break free package. Just wondering what other options are out their that will be best suited for me and my wife.. We haven’t got our house revalueated just yet but are looking at it being 450,000.. Thanks

    • Staff
      Marc | September 16, 2014

      Hi Luke,
      thanks for the question.

      There are many home loan options out there for all types of borrowers in the home loans market, but what suits you will depend on your lifestyle and your goals. Generally speaking it’s a good idea to compare a range of loans including package home loans and a range of fixed and variable rate home loans to see what’s being offered.

      Remember that it’s not just the rate which is important when comparing loans, but also the fees you’ll pay (including ongoing fees such as annual or monthly fees), and the features you’ll use.

      Another way you can get more in-depth personal advice is through a mortgage broker. They will look into your lifestyle and come up with different home loan options which will suit you. Their services are generally free, as they receive a commission from the lender you choose to go with.

      I hope this helps,

  12. Default Gravatar
    Peter | June 23, 2014

    I currently have 3 invetment properties with a combined loan around $1.4m.These are cross securitised on a fixed interest rate 4.84% with St George on a Portfolio Loan plan.

    The interest rates offered are lower than mine and would ask if the 4.54% rate was available to me.
    All are under the 80%LVR

    • Staff
      Shirley | June 24, 2014

      Hi Peter,

      Thanks for your question.

      The loan is suitable for refinancing investment properties. If you would like to enquire about this with, please click ‘enquire now’ or ‘go to site’.


  13. Default Gravatar
    Byron | May 28, 2014

    Hello! Thanks for reading my questions. I bought a house for $480000 two years ago, I got home loan $350000. Now I pay off all the loan fees.
    Now I like a house as $650000, but I don’t have saving, we are a couple, can we get a home loan as 100%? How can we apply for it?

    Yours faithfully

    • Staff
      Shirley | May 28, 2014

      Hi Bryon,

      Thanks for your question.

      Unfortunately 100% home loans don’t exist in the market anymore after the GFC, unless you have a guarantor. Please this page for more information.

      Our no deposit home loan page may also be helpful in regards to explaining the process.

      Be mindful that there are a number of risks with guarantor loans.


  14. Default Gravatar
    Krishna | May 19, 2014

    If I shift part of my home loan from another bank, are there any fees each time I do the repayments or transfer money from another bank ?


    • Staff
      Shirley | May 21, 2014

      Hi Krishna,

      Sorry, I couldn’t understand your question.

      Generally repayments to your home loan can be made online, in person, over the phone, using BPay, Direct Debit or in the local branch of your home loan lender. There’s generally no fee for doing this, but you’ll need to confirm this with the PDS of the product.


  15. Default Gravatar
    Michael | May 18, 2014

    Hi. I am wanting to know if any of these lenders use someone else besides Genworth for their LMI?

    Thank you

    • Staff
      Marc | May 19, 2014

      Hi Michael,
      thanks for the question.

      The two main LMI providers in Australia are Genworth and QBE. There are also smaller insurers, and some banks will source their own insurance policies. You may want to contact the lenders you’re interested in applying with directly and find out which insurer they use for LMI.

      I hope this helps,

  16. Default Gravatar
    jade | March 21, 2014

    I have applied for a hone loan and the bank manager has told me I have 2 defaults on my credit file. One electricity bill which was not my fault and a phone account that was not finalised. Will this effect my home finance being approved?

    • Staff
      Marc | March 24, 2014

      Hi Jade,
      thanks for the question.

      Unfortunately it’s difficult to say as each lender has their own unique lending criteria which they use to evaluate borrowers. We’ve got some information on bad credit and how this can effect borrowers on this page.

      I hope this helps,

  17. Default Gravatar
    Sue | February 12, 2014

    i am a co owner paying a joint mortgage on a home. i wish to buy a second home. Am I able to use the equity in my half of the home I am paying off instead of a deposit?Thanks

  18. Default Gravatar
    Sue | January 10, 2014

    I am looking for a fixed rate home loan – are any of those displayed on your website fixed? I can’t see any field defining this.

  19. Default Gravatar
    Jatami | January 7, 2014

    I am currently renting and would like to buy an investment property in country NSW, the rent I would receive is around $260 per week, the asking price is $225000. I will put in around $14000 – $15000, what is my chance of getting the finance?

    • Staff
      Marc | January 8, 2014

      Hello Jatami,
      thanks for the question.

      Each loan provider has a different lending criteria which they use to approve loans, so unfortunately there’s no easy answer. You may wish to compare the various home loans on our site, and then contact the lender directly before making any formal application to find out what kinds of things they might be looking for. Also, look at the eligibility criteria for each loan, as this will help you decide whether or not it’ll be available for you.

      I hope this helps,

  20. Default Gravatar
    maryanne | November 28, 2013

    I wish to buy a property but have the full purchase price in hand – hence no need for a loan. Please tell me what fees and charges are payable on the purchase.

  21. Default Gravatar
    Harpreet | November 23, 2013

    “I got my gem visa card today and i want to register online but i cant because i forgot my The security password on my account created during my application plz help me ta.”

    • Staff
      Marc | November 25, 2013

      Hello Harpreet,
      thanks for the question.

      I’d recommend that you call GEM directly to sort this issue out.\


  22. Default Gravatar
    Rahath | November 21, 2013

    Why do some of the products listed here say max lvd 80% where in fact I know some of them do allow 95%? i.e. ANZ simplicity plus loan.

    • Staff
      Marc | November 22, 2013

      Hello Rahath,
      thanks for the question.

      This is the maximum LVR without attracting Lender’s Mortgage Insurance (LMI) premiums. If you read the table on the review page for any loan on the site it’ll display both this LVR and the maximum insured LVR, which in the case of the loan above is as you correctly stated 95%.

      I hope this helps,

  23. Default Gravatar
    Bridget | October 5, 2013

    I want to buy out the co owner of my home in the ACT. I presently have a mortgage with Ubank and they have said that they would not increase my mortgage so I could pay him out. Would other banks/credit unions allow me to do so? I can afford the extra loan payment.

    • Staff
      Shirley | October 7, 2013

      Hi Bridget,

      Thanks for your comment.

      You may want to have a look at our refinancing home loans and then increase the loan amount when you decide to apply.

      Hope this helps,

  24. Default Gravatar
    Martin | October 2, 2013

    What is the easiest way to compare mortgage features rather than interest rates. I have a set features that I want with a mortgage and I want to compare mortgages based on those features?

    • Staff
      Marc | October 2, 2013

      Hello Martin,
      thanks for the question!

      It’s great that you’ve gotten a list of the features you want rather than simply the interest rate, this is a great way to start a comparison.

      If you have an idea of the broad category of loan you want (e.g variable rate loan), one way you can compare them is to view the table on the relevant page and click the check box on the left side of the table.

      Then click the compare button at the top of the table and you’ll be able to view the loans side-by-side to see if they have the features you’re after.

      I hope this helps,

  25. Default Gravatar
    Johno | September 30, 2013


    I was wondering if anyone can give me information of where to start looking for a property in Canberra. I’ve been told about a website which looks good, but it’s new and there aren’t any suitable properties on it at the moment. We’d like to secure a place to rent for six months, before we come in 4 weeks. We may then buy. Any suggestions please?

    • Staff
      Shirley | September 30, 2013

      Hi Johnnash,

      Thanks for your comment.

      You may want to try websites such as or – let us know how you go.


  26. Default Gravatar
    peter | September 20, 2013

    Which financial institutions offer fixed rate loans will offset?

    • Staff
      Marc | September 23, 2013

      Hello Peter,
      thanks for the comment!

      There are many institutions that will offer offset accounts with fixed rate loans. Be careful with these, as not all of them will be 100% offset accounts. Some may offset only a smaller percentage of your funds, such as the Bankwest Fixed Rate Home Loan which has a 40% offset account option.

      Here are some providers who have offset accounts with their fixed rate loans:
      CUA Premium Fixed Rate Home Loan – this has a 100% offset account
      CBA Fixed Rate Home Loan – ‘Partial’ offset account
      Adelaide Bank SmartFix Home Loan – 100% offset account

      I hope this helps,

  27. Default Gravatar
    Jase | September 17, 2013

    Hi there,

    Which mortgage lender provides the cheapest variable interest rate, interest only please?



    • Staff
      Shirley | September 18, 2013

      Hi Jase,

      Thanks for your comment.

      Please have a look at our best home loans page, you can sort through the interest rates by clicking on the arrows in the blue table.

      When browsing through loans, please check the ‘repayment type’ row to see if they allow interest only repayments.

      Hope this helps,

  28. Default Gravatar
    Richrd | August 6, 2013

    Dear Sir/Ms,

    I am interested in obtaining home loan and would really appreciate if you could please kindly advice how much I am able to borrow and what options are there?

    Look forward to your favorable response soon.

    Yours sincerely,


    • Staff
      Shirley | August 6, 2013

      Hi Richard,

      Thanks for your comment.

      Please use our borrowing power calculator to give you and indication.

      After you’ve determine how much you can borrow, you may want to compare our best featured home loans.

      If you need any assistance explaining features or jargon, please let us know.


  29. Default Gravatar
    Daisy | July 30, 2013

    Hi we are switching our lender from Wespac to Nab.Nab offered a 5.03 interest rate with a trailing factor of 1.1 for the life of the loan.Is this a good offer? And is it wise to fix interest rates now?

    Thank you


    • Staff
      Shirley | July 30, 2013

      Hi Daisy,

      Thanks for your comment.

      If you compare the 5.03% p.a interest rate with our best home loans, it is quite a competitive deal in comparison to the big banks.

      In terms of whether fixing interest rate is right for you, you will have to ask a financial planner as is only licensed to give general advice.

      Hope this helps,

  30. Default Gravatar
    Cherryl | July 19, 2013

    If you take out a home loan and pay it back early, are there any penalties?

  31. Default Gravatar
    Antonio | July 3, 2013

    Receiving disabiliti pension from Centrelink
    I need money to repair the car $ 2,500
    Is there a bank that provides soft loans
    Pensioner?? thanks

    • Staff
      Shirley | July 3, 2013

      Hi Antonio,

      Thanks for your comment.

      This article may help you.
      Most financial institutions tend to accept Centrelink payments as suitable income so you may want to compare personal loans as well.


  32. Default Gravatar
    sameer | June 25, 2013

    Thanks, those listed options can help to compare.

  33. Default Gravatar
    sameer | June 25, 2013

    justing wondering why CBA is not included in the list…curious to know where they stand.
    thanks indeed!

    • Staff
      Shirley | June 25, 2013

      Hi Sameer,

      Thanks for your comment.

      We aim to provide a comparison of all services and we cover a wide range of products, providers and services in the market so there may be other options available to you.


  34. Default Gravatar
    chantelle | June 19, 2013

    my husband and I are wondering if there is someone who will give us a house loan when we do not have a deposit?

    • Staff
      Shirley | June 19, 2013

      Hi Chantelle,

      Thanks for your comment.

      It is possible to get a home loan without a deposit, but you will need a guarantor. Please keep in mind that if you default on the loan your guarantor will also be held responsible.

      A mortgage broker will be able to help you find a guarantor loan.


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