ANZ is one of Australia's biggest lenders and has a large range of home loan products. This includes package home loans with lots of extra features and simpler loans with just the basics.
The lender has a nationwide network of physical branches plus phone support and online support.
You can get some ANZ home loans with a deposit as low as 10%, but many loans require a standard 20% deposit.
When applying for any home loan, you will need key documents to establish your identity, your financial situation, employment status and property information.
Eligibility rules vary, but typically you'll need to meet these criteria:
Age. You must be over 18 years of age.
Residency. You should be a resident of Australia.
Employment. You should have a regular source of income.
Find a mortgage broker: Still confused? Get free expert guidance from a qualified broker.
ANZ home loan FAQs
To make sure you find the right ANZ loan you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
Do you want help from an actual person? Because ANZ has a large network of branches, you can talk to staff in person when you need home loan help. This is something online lenders and smaller banks may not be able to offer.
What do you need the loan for? If you're buying a home to live in, you need an owner-occupier loan. Property investors need an investment loan rate. ANZ has both.
Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a certain period so you can forget about rate changes?
What features do you need? You need to decide whether you need features like a 100% offset account, the ability to make extra repayments and the option to split your rate.
ANZ offers pre-approval. You can apply for pre-approval with ANZ online. Please note that the lender will conduct a credit check, which may impact your credit history.
Home loan pre-approval is an optional step in the application process that some lenders offer. Pre-approval means a lender has examined your savings, income and spending habits and has a rough idea of how much it could lend you. It's not the same as full loan approval and it's no guarantee that the lender will ultimately approve a full application. But it does allow borrowers to start looking for a home with more confidence and a clearer idea of their borrowing power.
Most Australian borrowers bank with one of the Big Four (Commbank, Westpac, NAB and ANZ). They have physical branches and ATMs in most locations and strong customer support. These are big advantages.
But if you're worried that smaller lenders are unsafe or less reliable, you probably shouldn't. In Australia, most lenders are authorised deposit-taking institutions (ADIs) and are regulated by the Australian Prudential Regulation Authority (APRA). Almost every lender has a banking licence or partners with a bank.
There's an assumption that interest rates from the Big Four are less competitive than smaller lenders. And while this is broadly true, the gap has shrunk dramatically in recent years. You can get a very good deal from lenders large and small.
Deciding between a fixed or variable rate depends on what you want from the loan. A variable rate loan can change at any time, either up or down. A variable rate usually offers more flexibility in how fast you can repay the loan and the cost of refinancing.
A fixed rate loan offers total certainty about your rate, for the fixed period. This means it won't rise, costing you more. But if your lender starts lowering rates you won't benefit either. Refinancing a fixed rate loan means breaking the loan, because you've agreed to a specific rate. This means you may have to pay a fixed rate break fee.
Mortgage brokers are home loan professionals who can help you find a suitable loan. A broker typically charges you no fee, because they receive a commission from your lender. Brokers are great if you are short on time or find the whole process of researching and applying for a home loan confusing. But you can definitely do it yourself and find a good loan. You may even find a better deal. That's because brokers don't compare loans from every lender in the market. They have access to a panel of loans and often don't have smaller online lenders in their panel.
Sources
What is Finder Score?
The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.
Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University.
See full bio
Richard's expertise
Richard
has written
688
Finder guides across topics including:
It’s advisable that you speak to a mortgage specialist regarding the best loan for you.
Cheers,
Shirley
ChrisJuly 31, 2014
Hi,
I currently have between $1-1.2m in H/Ls.
Please advise your best variable rate.
Thank you
Chris
Finder
MarcAugust 1, 2014Finder
Hi Chris,
thanks for the question.
The best rate for your situation will depend on a number of factors, including what features you use and your loan purpose. I’d suggest contacting ANZ directly to find out the best rate they’d be offer for your particular situation.
Think you need a 20% deposit to buy a home? Think again. We break down no deposit home loans: how they work, who offers them, and what to watch out for.
Home loan cashback deals can help you refinance to a cheaper interest rate and get a lump sum cash payment. Compare the latest deals and check your eligibility today.
Learn how to compare rates to find the best home loan and start saving money on your mortgage today.
Important information about this website
Finder makes money from featured partners, but editorial opinions are our own.
Finder is one of Australia's leading comparison websites. We are committed to our readers and stand by our editorial principles.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
The information provided by Frankie is general in nature and has been prepared without considering your objectives, financial situation or needs. Frankie may make mistakes so it's important that you review the information before deciding. By messaging Frankie, you agree to our Terms and have read our Privacy Policy.
Which bank best to borrow home loan?
Hi Nis,
Thanks for your question.
It’s advisable that you speak to a mortgage specialist regarding the best loan for you.
Cheers,
Shirley
Hi,
I currently have between $1-1.2m in H/Ls.
Please advise your best variable rate.
Thank you
Chris
Hi Chris,
thanks for the question.
The best rate for your situation will depend on a number of factors, including what features you use and your loan purpose. I’d suggest contacting ANZ directly to find out the best rate they’d be offer for your particular situation.
Cheers,
Marc.