August’s cheapest owner-occupier home loans

Adam Smith 13 August 2018 NEWS

The home loan market is a frenzy of rate activity. Make sure you're not paying too much.

It's been two years since the Reserve Bank of Australia last moved the official cash rate, and signs point to the current period of rate stability lasting through at least next year.

But home loan rates are anything but stable. In July, 26 lenders made rate changes independent of the Reserve Bank. August is set to be another busy period, with nearly a dozen lenders moving on rates in the first two weeks of the month.

With the home loan market hitting its most active period of the year thus far, we've compiled August's cheapest loans for owner-occupiers. We've separated them into variable and fixed rate loans, and applied the following criteria:

  • All loans listed are principal and interest loans for owner-occupiers.
  • All loans have a maximum loan-to-value ratio (LVR) of at least 80%.
  • Each loan has a minimum loan amount of no more than $200,000 and a maximum amount of $500,000 or more.
  • Each fixed rate is for a term of three years.
  • We've excluded line of credit, guarantor and construction loans.
  • Rates are correct as of 13 August 2018.

Check the table below for the cheapest owner-occupier home loans available through finder.com.au. If your lender isn't amongst them, it may be time to refinance for a better deal.

Compare August 2018’s cheapest owner-occupier home loans at a glance

Rates last updated August 20th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.59%
3.59%
$0
$0 p.a.
80%
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
3.59%
4.42%
$600
$0 p.a.
95%
Get a 1% discount for the first two years of your loan and pay no application or ongoing fees.
3.62%
3.62%
$0
$0 p.a.
95%
A low deposit mortgage with a competitive rate and plenty of flexibility. QLD residents only. Eligible borrowers can get a 15% discount on home and contents insurance for the life of their loan.
3.64%
3.65%
$500
$0 p.a.
95%
A variable rate home loan with low promotional rate.
3.64%
3.66%
$0
$0 p.a.
80%
A simple mortgage with a competitive interest rate and no application or monthly fees. Borrow up to $2 million from a convenient online lender.
3.64%
3.65%
$0
$0 p.a.
80%
Low interest rate and limited fees. Add a 100% offset account for $10 a month.
3.65%
3.70%
$600
$0 p.a.
85%
Save on your home loan rate by avoiding features you may not use.
3.65%
3.66%
$0
$0 p.a.
80%
This special rate mortgage has no ongoing fees and offers flexible repayments. Save $595 in establishment fees before 30 September.
3.65%
3.66%
$0
$0 p.a.
90%
Competitive interest rate and low fees. Available with a 10% deposit. Partial offset account attached (offset up to $15,000).
3.68%
3.69%
$0
$0 p.a.
90%
Get one free online redraw per month and pay no ongoing fees. Application fees are waived for loans above $150,000.

Compare up to 4 providers

Rates last updated August 20th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.74%
4.01%
$395
$0 p.a.
80%
A competitive fixed interest rate product with no ongoing bank fees.
3.74%
4.63%
$0
$395 p.a.
90%
A two year fixed rate home loan with application fees.
3.79%
4.66%
$0
$375 p.a.
90%
Pay no upfront fees or monthly fees on Suncorp Bank Personal Loans when you opt for the Home Package Plus.
3.79%
4.67%
$0
$349 p.a.
90%
3.83%
4.57%
$0
$299 p.a.
95%
Owner-occupiers can enjoy a discounted fixed rate, a rate lock feature and the ability to make additional repayments.
3.84%
4.53%
$0
$395 p.a.
90%
Enjoy discounts on banking products and insurance with this package loan. NSW, QLD and ACT residents only.
3.84%
3.82%
$0
$0 p.a.
80%
A fixed rate loan with free redraws, few ongoing fees. Apply online with a fast approval process.
3.88%
5.01%
$600
$0 p.a.
95%
Lock in your interest rate for 3 years and use the 100% offset to save on this interest.
3.89%
4.90%
$0
$395 p.a.
95%
Lock in a discounted rate for 3 years and have the option for interest only repayments.
3.85%
4.94%
$600
$8 monthly ($96 p.a.)
95%
Fix your rate and enjoy a partial offset account along with flexible repayments.

Compare up to 4 providers

*Our cheapest variable and fixed rate owner-occupier home loans round-up is a monthly article that features the cheapest loans in finder.com.au's database. The rates and other information in this page are correct at the time of publication and are subject to change. There may be cheaper loans on the market than the ones listed here.

Want to compare more options? Check out all our cheapest home loans

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