Whether you're refinancing, investing or buying a home, we can help you find the right mortgage.
Home Loan Finder® lets you compare home loans from across the market, from the big banks to smaller lenders, credit unions and online providers. You can compare mortgage rates, read up on individual products, apply directly with lenders or contact a mortgage broker. Your home buying journey starts here.
Home loan comparison
Home Loan Offer
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees. Get $1,000 cash into a USaver account when you apply for a loan of $200,000 or more (new or refinance). Terms and conditions apply.
- Interest rate of 3.69% p.a.
- Comparison rate of 3.69% p.a.
- Application fee of $0
- Maximum LVR: 80%
- Minimum borrowing: $200,000
- Max borrowing: $700,000
Compare mortgage rates
- IMB Budget Home Loan - Special LVR <=90% (Owner Occupier, P&I) - 3.69% p.a. comparison rate. A loan for owner occupiers only.
- loans.com.au Essentials - Variable (Owner Occupier, P&I) - 3.66% p.a. comparison rate. This owner occupier loans features principal and interest repayments
- Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤90% ($150K+ Owner Occupier) - 4.49% p.a. comparison rate. NSW, QLD and ACT residents only.
When comparing mortgages you really need to find a product that suits your plans, whether you're buying a home, an investment property, or looking to switch your current loan to a better one.
Finance the purchase of an investment property and start your path to wealth.
You're not locked into your mortgage. Switching to a better product can save you thousands in repayments and unlock useful fees.
Ideal for first home buyers and younger borrowers, compare mortgages with 5% or 10% minimum deposits.
There are many more unique situations for borrowers. Check out some of our other in-depth guides and product comparisons:
When comparing mortgages the interest rate is very important. But there's a lot more to look at:
- The interest rate. A lower interest rate will keep your repayments down. It's also important to decide whether you want a fixed or variable interest rate. Variable rates are often lower and have more flexibility but your rate can go up (or down) at any time. Fixed rates let you budget your repayments more accurately because you know your repayments in advance.
- Repayment type. Most borrowers opt for principal and interest repayments, where you repay the principal (the money you've borrowed) plus interest together. Interest-only repayments delay the full cost of your loan as you only repay the interest at first. Interest-only loans are a good choice for some borrowers but you'll end up paying more in the long run this way.
- Features. Always compare a loan's features, such as offset accounts and redraw facilities. But don't get a loan with a higher rate and extra features if you won't really need them.
- Fees. Application, settlement and monthly fees can add to your mortgage costs. Be sure to factor them in, but remember that the interest rate matters more than fees in determining your costs.
Your mortgage costs depend on the following factors:
- Your interest rate. The higher the rate the more you pay in interest. If you're borrowing a lot of money even a small difference in the rate can add hundreds or even thousands of dollars to your repayments.
- How much your property costs. The price of the property determines everything else.
- How much you're borrowing (and your deposit size). If you've saved up a large deposit you won't have to borrow as much, making your repayments lower. If you have a deposit below 20% of the property's value you may have to pay lenders mortgage insurance too.
- Fees. These may have less impact than the interest rate, but mortgage fees can add up. A loan's comparison rate can help you understand how fees and the interest rate affect your costs.
- Government charges. When buying a property you should factor in how much stamp duty costs. You may also have to pay other government charges.
To get a better understanding of how the interest rate and loan amount can affect your repayment costs use our mortgage repayment calculator below.
When comparing mortgages it's also important to look at the features that come with many loans.
- Extra repayments. Most loans today allow you to make additional repayments, helping you pay your loan off sooner.
- Redraw facility. A redraw facility lets you take out extra repayments you've made into your loan to spend as you need. This lets you access extra funds for emergencies or unforeseen expenses. It can be helpful, but the more you redraw the longer your loan will take to pay off.
- Offset account. An offset account is a transaction account which is linked to your loan. Any money deposited into the account offsets interest on your home loan. Imagine a loan of $100,000 which has an offset account with $10,000 in it. When interest is calculated on the loan, it’s only calculated on $90,000 because the $10,000 is offset for the interest calculation.
- Portability. A portable loan is one you can keep even when changing properties. It's convenient and saves you the need to refinance.
The mortgage application process seems complex and scary. But once you break it down it's not that hard. The first step is to get prepared:
- Is your credit file in order? Find out how to get a copy of your credit file and make sure there are no errors on it. If you have defaults or late repayments on your file, make sure you can explain them. Close any credit cards you're no longer using.
- Are you getting a joint loan? Think about how strong your relationship is with the other party. Changes to your relationship could make it hard if one party wishes to sell their part of the property.
- Are you eligible for the loan? Borrowers generally need to be over 18 years of age. There are other requirements too, but those depend on the lender. Some will want you to have a good credit rating. Others might not allow you to buy inner city apartments. Always read the eligibility criteria before applying.
Pre-approval means your lender will "conditionally" approve you for a specific loan amount. It'll take into account your income, debts and liabilities when deciding this. It's usually extended for a few months, allowing you to look for a property with a bit more confidence. It's important to note that pre-approval conditions can differ depending on the lender. Read our expert explanation of pre-approval to find out what to look for.
What paperwork do I need to give my lender when applying for a home loan?
Your lender wants to work out whether or not you can afford a loan. They will ask for a lot of information from you, including:
- Personal details. Your full name, tax file number, driver's licence number or some other form of photo ID, phone number and address.
- Employment details. Your lender wants to know about your job, how long you've been in your position and and may even ask for your employer's contact information to confirm these details.
- Financial details. Your lender will want to know how much you earn and spend. They'll want to see recent payslips, as well as details of your expenses and debts including personal loans or credit cards.
- Information about your property. The exact paperwork required will depend on the type of property you're buying. You'll need to tell your lender the property address, the type of property, number of rooms and more.
If you need more specific help, check out some of our detailed guides to switching loans, buying a property, saving a deposit and much more:
Got more questions? We've got answers.
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