Home Loan Comparison

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UBank Home Loan Offer

UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000 (*now 2.84%, drops to 2.59% on 3 April)

2.59 % p.a.

variable rate

2.59 % p.a.

comparison rate

UBank Home Loan Offer

Get a low rate home loan with unlimited redraws and no upfront or ongoing fees.

  • Interest rate of 2.59% p.a.
  • Comparison rate of 2.59% p.a.
  • Application fee of $0
  • Maximum LVR: 80%
  • Minimum borrowing: $200,000
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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.

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Compare mortgage products in the table below. Click on the green buttons to leave your details and begin an enquiry. You can also find more information on each individual product by clicking "more info".

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Applications are subject to approval. Conditions, fees and charges apply. Please note that you need to be an Australian citizen or permanent resident to apply.

Credit services for Aussie Select, Aussie Activate and Aussie Elevate products are provided by AHL Investments Pty Ltd ACN 105 265 861 (“Aussie”) and its appointed credit representatives, Australian Credit Licence 246786. Credit for Aussie Select products is provided by Residential Mortgage Group Pty Ltd ACN 152 378 133, Australian Credit Licence 414133 (“RMG”). RMG is a wholly-owned subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian Credit Licence 234945. Credit for Aussie Activate products is provided by Pepper Finance Corporation Limited ACN 094 317 647 (“Pepper”). Pepper Group Limited ACN 094 317 665, Australian Credit Licence 286655 acts on behalf of Pepper. Credit services for Aussie Elevate products are provided by AHL Investments Pty Ltd ACN 105 265 861 Australian Credit Licence 246786 (“Aussie”) and its appointed credit representatives. Aussie is a trade mark of AHL Investments Pty Ltd ABN 27 105 265 861. Credit and any applicable offset accounts for Aussie Elevate are issued by Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL / Australian Credit Licence 237879.

Aussie is a trade mark of AHL Investments Pty Ltd. Aussie is a subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124. ©2019 AHL Investments Pty Ltd ABN 27 105 265 861 Australian Credit Licence 246786.

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An Aussie mortgage broker can find the right home loan for you.

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Rates last updated April 2nd, 2020
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Loan purpose
Offset account
Loan type
Repayment type
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000 (*now 2.84%, drops to 2.59% on 3 April)
2.59%
2.59%
$0
$0 p.a.
80%
This rate will drop to 2.59% p.a on 3 April 2020 for new and existing customers. Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
HSBC Home Value Loan - Promotional Offer (Owner Occupier P&I)
2.65%
2.66%
$0
$0 p.a.
80%
Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.
loans.com.au Smart Home Loan - (Owner Occupier, P&I)
2.63%
2.65%
$0
$0 p.a.
80%
Get one of the lowest variable interest rates on the market and pay 0 application or ongoing fees.
State Custodians Low Rate Home Loan with Offset - LVR up to 70% (Owner Occupier P&I)
2.58%
2.60%
$0
$0 p.a.
70%
A competitive rate with no application or ongoing fee. This loan is not available for construction.
IMB Budget Home Loan - Special LVR <=90% (Owner Occupier, P&I, NSW and ACT borrowers only)
2.88%
2.94%
$449
$0 p.a.
90%
NSW and ACT customers only. You can get an interest rate discount for a limited time with this competitive variable mortgage.
Bankwest Complete Home Loan Package Variable - $200k+ LVR <=80% (Owner Occupier, P&I)
2.80%
3.25%
$0
$395 p.a.
80%
A low variable rate loan with a 100% offset account and package discounts.
CUA Achieve Variable Home Loan - $500k+ (Owner Occupier, P&I)
2.73%
2.78%
$600
$0 p.a.
95%
Home buyers can get a competitive, low-fee variable rate plus a 100% offset account. Low deposit option available. Eligible new home buyers with low deposits can apply for the First Home Loan Deposit Scheme with this lender and avoid LMI costs.
Well Home Loans Balanced Variable - LVR 80% (Owner occupier, P&I)
2.47%
2.50%
$250
$0 p.a.
80%
A very low interest rate for home buyers with 20% deposits saved. Add an offset account for a small fee.
Virgin Reward Me Fixed Rate Home Loan - 2 Year $300k+ Special offer (Owner Occupier, P&I)
2.79%
3.25%
$300
$10 monthly ($120 p.a.)
80%
Buy your home and lock in a low rate for the first two years.
Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR<=90% Incl. LMI (Owner Occupier, P&I)
2.78%
2.79%
$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.
ING Mortgage Simplifier Home Loan - $150,000 to $500,000 (LVR <=80% Owner Occupier, P&I)
2.78%
2.81%
$0
$0 p.a.
80%
This low, variable rate loan has no ongoing fees and a redraw facility. Requires a 20% deposit.
Newcastle Permanent Building Society Fixed Rate Home Loan - 1 Year Fixed (Owner occupier, P&I)
2.39%
4.12%
$595
$0 p.a.
90%
Investors can take advantage of a short term fixed rate with no ongoing fees.
State Custodians Low Rate Home Loan with Offset - LVR up to 80% (Owner Occupier P&I)
2.65%
2.67%
$0
$0 p.a.
80%
This loan offers a competitive variable rate and a 100% offset account to help save you on interest repayments. This loan is not available for construction.
IMB Fixed Rate Home Loan - 2 Year Fixed (LVR ≤ 95% Owner Occupier, P&I, NSW and ACT borrowers only)
2.69%
3.19%
$449
$6 monthly ($72 p.a.)
95%
NSW and ACT customers only. 2 years fixed interest terms and free access to redraw facility online. Available with a 5% deposit.
Gateway Bank Low Rate Essentials Variable Rate Home Loan - Special offer LVR up to 80% and over $500k (Owner Occupier, P&I)
2.76%
2.79%
$0
$0 p.a.
80%
A competitive, flexible variable rate mortgage for home buyers borrowing above $500,000. Eligible new home buyers with low deposits can apply for the First Home Loan Deposit Scheme with this lender and avoid LMI costs.
UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier, P&I)
2.69%
3.19%
$395
$0 p.a.
80%
A competitive fixed interest rate loan with no ongoing fees. Requires a 20% deposit.
Well Home Loans Balanced Fixed Home Loan - 2 Year (Owner occupier, P&I)
2.09%
2.44%
$250
$0 p.a.
90%
Low fee fixed mortgage with optional 100% offset account.
Virgin Reward Me Variable Home Loan - LVR <= 80% ($500k to $750k Owner Occupier, P&I)
3.12%
3.28%
$300
$10 monthly ($120 p.a.)
80%
This flexible, competitive variable rate mortgage comes with a 100% offset account and redraw facility.
ANZ Simplicity PLUS Home Loan - LVR ≤ 80% Special Offer Discount (Owner Occupier, PI)
2.72%
2.76%
$0
$0 p.a.
80%
Get a low variable rate from a ANZ and save money with $0 application or ongoing fees. Requires a 20% deposit. Refinance to this loan and you could get a cashback from $1,200 up to $3,500 depending on your loan amount (terms and conditions apply).
CUA Fixed Rate Home Loan - 3 Year Fixed (Owner Occupier, P&I)
2.29%
3.94%
$600
$0 p.a.
95%
Pay no ongoing fees and lock in your rate for 3 years to organise your budget. Eligible new home buyers with low deposits can apply for the First Home Loan Deposit Scheme with this lender and avoid LMI costs.
Newcastle Permanent Building Society Real Deal Home Loan - Special Offer 1 (Owner Occupier, P&I)
2.94%
2.98%
$595
$0 p.a.
90%
A discounted variable rate with low ongoing fees and redraw facility. Low deposit option available.
Well Home Loans Balanced Variable - LVR 90% (Owner occupier, P&I)
2.67%
2.70%
$250
$0 p.a.
90%
A very low variable interest rate for borrowers with a 10% deposit. Add a 100% offset account for $10 a month.
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, P&I)
2.74%
3.38%
$395
$0 p.a.
80%
Fix your mortgage for 1 year with a very competitive rate and no ongoing fees.
Macquarie Bank Basic Home Loan - LVR ≤ 80% (Owner Occupier, P&I)
2.94%
2.94%
$0
$0 p.a.
80%
Pay no application and ongoing fees and take advantage of split and redraw options.
loans.com.au Essentials - Variable (Owner Occupier, P&I)
2.79%
2.81%
$0
$0 p.a.
90%
A simple mortgage with a competitive interest rate and no application or monthly fees. Borrow up to $2000000 from a convenient online lender.
Virgin Reward Me Fixed Rate Home Loan - 3 Year $300k+ Special offer (Owner Occupier, P&I)
2.79%
3.22%
$300
$10 monthly ($120 p.a.)
80%
A competitive fixed rate mortgage available with a 10% deposit.
UBank UHomeLoan Variable Rate - Discount Offer for Investor Variable P&I Rate
3.24%
3.24%
$0
$0 p.a.
80%
Get a discounted, low-fee investor loan from a convenient online lender. 20% deposit required.
Gateway Bank Low Rate Essentials Variable Rate Home Loan - Special offer LVR up to 80% and over $500k (Investor, P&I)
3.04%
3.07%
$0
$0 p.a.
80%
Investors with 20% deposits can get this flexible variable mortgage with low fees and a reasonable rate.
State Custodians Low Rate Home Loan with Offset - LVR 80% to 90% (Owner Occupier P&I)
2.95%
2.97%
$0
$0 p.a.
90%
Save on interest with a free 100% offset account and buy your property with just a 10% deposit. This loan is not available for construction.
Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer Discount 1 ($150k+ Owner Occupier, P&I)
2.94%
3.34%
$0
$395 p.a.
90%
New borrowers or refinancers can get a discounted rate with this package loan.
IMB Fixed Rate Home Loan - 3 Years Fixed (LVR ≤90% Investor, P&I, NSW and ACT borrowers only)
2.99%
3.65%
$449
$6 monthly ($72 p.a.)
90%
NSW and ACT customers only. A 3 years fixed rate investor which allows extra repayments to be made.
Virgin Reward Me Variable Home Loan - LVR <=80% ($500k to $750k Owner Occupier, IO)
3.74%
3.78%
$300
$10 monthly ($120 p.a.)
80%
A variable rate home loan with no application fees.
UBank UHomeLoan - 3 Year Fixed Rate (Investor, P&I)
2.84%
3.59%
$395
$0 p.a.
80%
Pay no ongoing fees on this investment loan fixed for 3 years.
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Home loan basics explained

A home loan is the money you borrow to purchase a property. You repay this money with interest on top. The amount you borrow is called the loan principal or loan amount. The interest you pay every month is determined by the interest rate.

Australians typically borrow between 80% and 95% of a property's value. The remainder of the money is called a deposit and you need to save this yourself. A mortgage term typically lasts for 25–30 years, although it can be shorter.

Understanding different types of home loans

If you're borrowing money to buy a home to live in you need an owner-occupier mortgage. If you're buying an investment property you're looking for an investment loan.

But what if you already have a mortgage but want to switch to a better deal? This makes you a refinancer. Most loans are available for refinance but you will need to apply all over again.

You can also learn more about all the many unique home loan types on the market.

Comparing home loan interest rates

The interest rate is the key component on any home loan. When doing a home loan comparison you should always look for a lower interest rate. This will keep your repayments down.

To give you a clearer picture, here's the difference in repayments between a 3.50% and a 3.00% interest rate (on otherwise identical loans with 20% deposits and principal-and-interest repayments).

DetailsLoan ALoan B
Loan amount$400,000$400,000
Interest rate (30-year loan)3.50%3.00%
Monthly repayments$1,796$1,686
Savings (monthly)N/A$110 cheaper
Savings (yearly)N/A$1,320 cheaper
Savings (life of loan)N/A$39,600 cheaper

Over 30 years, that 50 basis point difference in the interest rate could save a borrower $39,600 in interest charges. It's huge.

Check out Finder's lowest monthly mortgage rate tracker

If you want to get a clearer idea of the current state of interest rates in the home loan market look at the graph below.

At Finder we maintain an enormous database of home loan rates. At the start of every month we analyses the database and find the lowest rates we have. You can learn more about our data and methodology here.

Fixed or variable?

It's important to decide whether you want a fixed or variable interest rate. Variable rates 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.

Comparing repayment types, features and fees

Beyond the interest rate, borrowers must also make decisions about the repayment type and loan features they need. Fees and loan-to-value ratio are important points of comparison too.

  • Repayment type. Most borrowers choose 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. But you'll end up paying more in the long run.
  • Comparison rate. The comparison rate is a home loan's interest rate, plus the cost of fees taken into consideration. It helps you compare loans with a clearer idea of costs, but it's only a hypothetical calculation.
  • Features. Always compare a loan's features, such as offset accounts and redraw facilities.
  • Loan-to-value ratio (LVR). LVR is another way of saying minimum deposit. Most loans have a maximum LVR of 80%, meaning you need a 20% deposit. However, many loans also have a maximum insured LVR of up to 95%. This means you can get the loan with a smaller deposit, but you will need to pay lenders mortgage insurance (LMI) when your deposit is under 20%.
  • Fees. Application, settlement and monthly fees can add to your mortgage costs. Be sure to factor fees in to your comparison.

How to get a home loan

A couple looking for a property to buy before comparing home loans.Once you've finished your home loan comparison you will need to apply for the loan. But remember that the mortgage is just one part of a bigger home buying process:

  1. Work out your borrowing power. Think about your income and expenses to work out how much you can afford to borrow. This will guide your whole buying journey. A borrowing power calculator can help.
  2. Saving a deposit.You will need at least 5% of the property's value saved up.
  3. Finding a property. The search for the perfect property can be a long one, but it's important to get it right.
  4. Mortgage application. When applying for a mortgage you will need some paperwork, including identification and pay slips. You can also apply for pre-approval with many lenders, which gives you a good indication of how much you can borrow.

If you need more information about mortgage applications, read our detailed guide to the home loan application process.

More helpful guides


The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our Site, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.

Images: Shutterstock

Home Loan Offers

Important Information*
Logo for UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000 (*now 2.84%, drops to 2.59% on 3 April)
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000 (*now 2.84%, drops to 2.59% on 3 April)

Take advantage of a low-fee mortgage with a special interest rate of just 2.59% p.a. and a 2.59% p.a. comparison rate.

Logo for HSBC Home Value Loan - Promotional Offer (Owner Occupier P&I)
HSBC Home Value Loan - Promotional Offer (Owner Occupier P&I)

Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online.

Logo for Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR<=90% Incl. LMI (Owner Occupier, P&I)
Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR<=90% Incl. LMI (Owner Occupier, P&I)

Get one free online redraw per month and pay no ongoing fees. Application fees are waived for loans above $150,000.

Logo for loans.com.au Essentials - Variable (Owner Occupier, P&I)
loans.com.au Essentials - Variable (Owner Occupier, P&I)

A competitive interest rate home loan with interest only options. Interest rate 2.79% p.a.
comp rate of 2.81% p.a.

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4 Responses

  1. Default Gravatar
    JDMAugust 12, 2019

    I am an Australian citizen returning to Australia after several years abroad. I will be entering into employment with the Australian branch of my existing employer with a new employment contract (but without a probation period). Can you advise limits to home loan borrowing upon arrival. e.g. is their a qualifying period for work/residence in Australia for lenders?

    • Avatarfinder Customer Care
      NikkiAugust 13, 2019Staff

      Hi JDM,

      Thanks for your question! All Australian citizens are eligible to apply for a home loan – this is one of the basic requirements. Others include, age, income and other unique requirements of the lender.

      As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.

      A mortgage broker is the best person to reach out to see your options for home loans. They can give you a multitude of options according to your situation. In the meantime, to give you an estimate of your monthly repayments, you may use the calculator we have on this page.

      Hope this helped. Feel free to reach back out for further assistance.

      Cheers,
      Nikki

  2. Default Gravatar
    ManiAugust 16, 2018

    What are the options for Self employed with one year financials?

    • Avatarfinder Customer Care
      JhezAugust 16, 2018Staff

      Hello Mani,

      Thank you for your comment.

      If you’re self-employed and is interested in a home loan, you can check low documentation (low-doc) loan which is designed to cater applicants who are working for themselves. Please note that different lenders have different application requirements, so it’s best to check your eligibility and ensure meeting the requirements before submitting an application.

      You may check our Low doc home loan guide and see the tips on how to compare such loans. After comparing the products in our panel, you can click the Go to Site button or the Enquire Now button and discuss with the lender your eligibility.

      You’ll be best to seek advise from a mortgage broker and discuss options based on your needs.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

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