These home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
Key takeaways
Bank of Queensland is one of Australia's larger banks. It owns several smaller lenders.
BOQ offers a large range of fixed and variable rate loans, including introductory variable rate loans.
It has some competitive interest rates, especially on its fixed rate loans.
Most of its loans have an upfront application fee.
You need at least a 10% deposit to qualify for some Bank of Queensland home loans, but many require a 20% deposit or even higher.
Compare Bank of Queensland home loans for December 2025
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Bank of Queensland home loan features
Here are the key features and details you need to know about Bank of Queensland's mortgage products.
Feature
Details
Minimum deposit
While some Bank of Queensland loans have 90% maximum LVRs, meaning you can get them with 10% deposits, many don't. Some of the bank's lowest rates are for borrowers with 20% deposits.
Offset account?
Some Bank of Queensland loans come with offset accounts. You won't find this feature on BOQ's fixed rate loans.
Fees
Application fees are common across most Bank of Queensland loans.
The following information is general in nature and applies to most home loans. There may be specific criteria that apply for this lender.
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.
Documents required
When you apply for a mortgage with Bank of Queensland you are required to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
More home loan questions
To make sure you find the right Bank of Queensland loan, you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
What's your deposit size? Many of Bank of Queensland's most competitive rates are available to borrowers with 20% deposits, but some are available with just a 10% deposit. This is important to consider if you haven't saved a large deposit.
What is the purpose of the loan? If you're buying a home to live in, you need an owner-occupier loan. Property investors need an investment loan rate. Bank of Queensland offers various options for both borrower types.
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 altogether?
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.
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 banks (Commbank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender you've never heard of. But there's no reason to worry just because you've never heard of a lender before.
In Australia, banks and lenders are regulated by the Australian Prudential Regulation Authority (APRA) or the Australian Securities and Investments Commission (ASIC) and must comply with the National Consumer Credit Protection Act.
The Bank of Queensland is an authorised deposit-taking institution (ADI). This means customers with money deposited in a Bank of Queensland savings account benefit from the deposit guarantee scheme. This federal government scheme guarantees a customer's savings up to $250,000, even if the bank itself collapses.
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.
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My mother aged 70yrs is moving to Australia from NZ. She will bring with her $300K for a new home but will be about $50k short. She is on NZ Superannuation and qualifies for the aged pension here (approx $870 fortnight). Would she qualify for a home loan for the shortfall or would her age prevent this?
Finder
ShirleyOctober 29, 2014Finder
Hi Jules,
Thanks for your question.
These types of applications are handled on a case by case basis, so it’s best to get in touch with BoQ directly to enquire about your mother’s eligibility. BoQ will look at your mother’s situation and assess her against their lending criteria.
Cheers,
Shirley
MohammadAugust 3, 2014
I am a casual employer is possible to apply for home loan ‘ from BOQ
If it is possible how much deposit do I have to have to apply for a Home loan a bout $350,000
Finder
ShirleyAugust 4, 2014Finder
Hi Mohammad,
Usually you need a 20% deposit for a home loan if you don’t want to pay LMI. This will be around $70,000 for a deposit.
If you don’t mind paying LMI, please refer to the ‘Max LVR’ in our home loan reviews. For example, the BoQ Clear Path has a Max LVR of 95% at the time of writing, which means you need a 5% deposit.
Generally you need to be in full time employment to be eligible for a home loan, but you’ll need to check the eligibility requirements to confirm this.
Cheers,
Shirley
BrianApril 20, 2014
I have my house deeds lodged with the B of Q at Paddington & would like to know if I could borrow money against my house deed?
This is a question best suited to asking the Bank of Queensland directly. You’ll have to satisfy their lending criteria to find out if you could borrow more money against your home, and this will also take into account any equity you may have.
I hope this helps,
Marc.
ChristineMarch 8, 2014
Does BOQ refinance other bank’s loans?
Finder
ElizabethMarch 10, 2014Finder
Hi Christine,
Thanks for the question.
You can definitely refinance loans from other banks to a BOQ home loan, including the Clear Path Home Loan. You might want to contact BOQ for more information about your potential options.
Hope this has helped.
Elizabeth
NiftyFebruary 19, 2014
I have a mortgage with another bank for a property. I have personal and business banking with BOQ. Am I able to apply for your new variable 4.87% home loan,which is less than I am paying now.
Finder
MarcFebruary 20, 2014Finder
Hi Nitty,
thanks for the question.
Unfortunately this deal is offered on new loan only, and excludes refinancing or restructuring existing Bank of Queensland loans.
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.
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My mother aged 70yrs is moving to Australia from NZ. She will bring with her $300K for a new home but will be about $50k short. She is on NZ Superannuation and qualifies for the aged pension here (approx $870 fortnight). Would she qualify for a home loan for the shortfall or would her age prevent this?
Hi Jules,
Thanks for your question.
These types of applications are handled on a case by case basis, so it’s best to get in touch with BoQ directly to enquire about your mother’s eligibility. BoQ will look at your mother’s situation and assess her against their lending criteria.
Cheers,
Shirley
I am a casual employer is possible to apply for home loan ‘ from BOQ
If it is possible how much deposit do I have to have to apply for a Home loan a bout $350,000
Hi Mohammad,
Usually you need a 20% deposit for a home loan if you don’t want to pay LMI. This will be around $70,000 for a deposit.
If you don’t mind paying LMI, please refer to the ‘Max LVR’ in our home loan reviews. For example, the BoQ Clear Path has a Max LVR of 95% at the time of writing, which means you need a 5% deposit.
Generally you need to be in full time employment to be eligible for a home loan, but you’ll need to check the eligibility requirements to confirm this.
Cheers,
Shirley
I have my house deeds lodged with the B of Q at Paddington & would like to know if I could borrow money against my house deed?
I’ve been reading your https://www.finder.com.au/home-loans/bank-of-queensland for info. I have no other loan[s] at present & my hse has no mortgage
Hi Brian,
thanks for the question.
This is a question best suited to asking the Bank of Queensland directly. You’ll have to satisfy their lending criteria to find out if you could borrow more money against your home, and this will also take into account any equity you may have.
I hope this helps,
Marc.
Does BOQ refinance other bank’s loans?
Hi Christine,
Thanks for the question.
You can definitely refinance loans from other banks to a BOQ home loan, including the Clear Path Home Loan. You might want to contact BOQ for more information about your potential options.
Hope this has helped.
Elizabeth
I have a mortgage with another bank for a property. I have personal and business banking with BOQ. Am I able to apply for your new variable 4.87% home loan,which is less than I am paying now.
Hi Nitty,
thanks for the question.
Unfortunately this deal is offered on new loan only, and excludes refinancing or restructuring existing Bank of Queensland loans.
I hope this helps,
Marc.