Best Home Loans October 2018

From razor-sharp interest rates to $0 application fees and flexible features, learn how to find the best home loan for you.

Home Loan Offer

UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

3.59 % p.a.

variable rate

3.59 % p.a.

comparison rate

Home Loan Offer

Apply for the UBank UHomeLoan Variable Rate and get a low rate plus no upfront or ongoing fees as well as unlimited redraws.

  • Interest rate of 3.59% p.a.
  • Comparison rate of 3.59% p.a.
  • Application fee of $0
  • Maximum LVR: 80%
  • Minimum borrowing: $200,000
Go to site
Promoted

Compare Best Home Loan Rates

Rates last updated October 15th, 2018.

Tic:Toc Live in Loan Fixed Rate - 1 Year (Owner Occupier, P&I)

Interest rate is now 3.64%

July 26th, 2018

Tic:Toc Live in Loan Fixed Rate - 3 Years (Owner Occupier, P&I)

Interest rate decreased by 0.48%

July 26th, 2018

Tic:Toc Live in Loan Fixed Rate - 2 Years (Owner Occupier, P&I)

Interest rate is now 3.74%

July 26th, 2018

View latest updates

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Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
3.59% 3.59% $0 $0 p.a. 80% Go to site More info
Tic:Toc Live in Loan Variable Rate - Principal & Interest
Get a very low interest rate and pay fewer fees. Enjoy a fast online application process and add a 100% offset account for $10 a month.
3.57% 3.58% $0 $0 p.a. 80% Go to site More info
HSBC Home Value Loan - (Owner Occupier P&I)
Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online. Available with just a 10% deposit.
3.64% 3.66% $0 $0 p.a. 90% Go to site More info
loans.com.au Essentials - Variable (Owner Occupier, P&I)
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% 3.66% $0 $0 p.a. 80% Go to site More info
Virgin Reward Me Variable Home Loan - LVR <= 80% ($500k to $750k Owner Occupier, P&I)
Get double Velocity Frequent Flyer Points with this mortgage to spend on flights and more (for a limited time, subject to eligibility requirements). Redraw facility available on this variable rate home loan. Competitive interest rate.
3.68% 3.82% $0 $10 monthly ($120 p.a.) 80% Enquire now More info
SCU My Life Variable Rate Home Loan Package - $150,000+ (Owner Occupier, P&I)
Get a low variable interest rate and buy a property with just a 10% deposit. 100% offset account attached.
3.59% 3.62% $0 $350 p.a. 90% Go to site More info
Mortgage House Equity Saver Refinancer Special
A competitive variable interest rate product aimed at refinancers looking to switch to a lower rate.
3.54% 3.57% $0 $0 p.a. 80% Enquire now More info
ME Flexible Home Loan With Member Package - LVR <=80% $400k up to $699,999 (Owner Occupier, P&I)
Unlock a range of savings with this competitive package home loan offer. Offset account and redraw facility included.
3.69% 4.12% $0 $395 p.a. 80% Go to site More info
Bankwest Complete Home Loan Package Fixed - 2 Year Fixed Rate LVR <90% (Owner Occupier, P&I & $200k+)
Lock in a very competitive 2 year rate and get package discounts on your credit card and offset account. $1,500 cashback available (conditions apply).
3.88% 4.51% $0 $395 p.a. 90% Go to site More info
Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤90% ($150K+ Owner Occupier)
Loans over $150k get a discount off an already low fixed rate. Available for NSW, QLD and ACT residents only.
3.49% 4.57% $0 $395 p.a. 90% Go to site More info
Yellow Brick Road Rate Smasher Home Loan
A low interest rate home loan with no application or ongoing fees.
3.64% 3.64% $0 $0 p.a. 70% Enquire now More info
loans.com.au Zip Home Loan
A competitive variable rate mortgage for owner occupiers that comes with a no fee debit card with a $5,000 limit.
3.68% 3.70% $0 $0 p.a. 80% Go to site More info
Macquarie Bank Basic Home Loan - LVR up to 70% (Owner Occupier, P&I)
Pay no application or ongoing fees and get a flexible loan with the ability to split up to 6 times.
3.75% 3.75% $0 $0 p.a. 70% Enquire now More info
Virgin Reward Me Variable Home Loan - LVR <= 80% ($750k+ Owner Occupier, P&I)
Earn double Velocity Frequent Flyer Points on your mortgage for a limited time (subject to eligibility requirements). Plus, access a 100% offset account to save on interest.
3.64% 3.78% $0 $10 monthly ($120 p.a.) 80% Enquire now More info
Mortgage House Equity Growth Investor Special
A variable investor mortgage with a high borrowing amount so you can fund a large purchase.
3.79% 3.82% $0 $0 p.a. 80% Enquire now More info
AMP Professional Package Variable Rate Home Loan - $500,000 to $749,9999 (Owner Occupier, P&I)
Get a sharp rate plus package discounts and a 100% offset account.
3.74% 4.13% $0 $349 p.a. 90% Enquire now More info
Aussie Select Basic Variable  -  (LVR <= 70%) (Owner Occupier, P&I)
Keep your LVR at 70% or below and enjoy a special discounted rate. Also, pay no application or ongoing fees.
3.84% 3.85% $0 $0 p.a. 70% Enquire now More info
Tic:Toc Live in Loan Fixed Rate - 2 Years (Owner Occupier, P&I)
Fast, 100% online application process. Very limited fees. Optional offset account (with fee).
3.64% 3.59% $0 $0 p.a. 80% Go to site More info
Beyond Bank Low Rate Special Home Loan - LVR ≤ 80% (Owner Occupier)
Access an offset account and pay no application or ongoing fees on this special variable rate for owner-occupiers.
3.79% 3.79% $0 $0 p.a. 80% Go to site More info
Homestar Finance Variable Rate Home Loan - Owner Occupier ($900 cashback)
Get a competitive rate, save on fees and access a 100% offset account plus redraw facility. $900 cashback offer.
3.54% 3.58% $0 $0 p.a. 80% Go to site More info
Macquarie Bank Flyer Home Loan
Earn tens of thousands of Qantas Points or more with this variable owner occupier mortgage. Requires a 30% deposit.
3.80% 3.80% $0 $0 p.a. 70% Enquire now More info
Mortgage Choice Plus Home Loan - OO LVR <=70% ($150k+) P&I Only
A variable rate home loan that has a lot of flexible features. This loan has a 100% offset account.
3.71% 3.71% $0 $0 p.a. 70% Enquire now More info
State Custodians Low Rate Home Loan with Offset - LVR 80% to 90% (Owner Occupier, P&I)
Save on interest with a free 100% offset account and buy your property with just a 10% deposit.
3.88% 3.89% $0 $0 p.a. 90% Go to site More info
loans.com.au Offset Variable - Up to 80% LVR (Owner Occupier P&I)
Save on interest by taking advantage of a 100% offset account along with no ongoing fees or application fees.
3.72% 3.74% $0 $0 p.a. 80% Go to site More info
Macquarie Bank Basic Home Loan - LVR ≤ 80% (Up to $750,000 Owner Occupier, P&I)
Pay no application and ongoing fees with Macquarie Bank Basic Home Loan. Split and redraw facilities included.
3.85% 3.85% $0 $0 p.a. 80% Enquire now More info
Beyond Bank Fixed Rate Home Loan - 3 Year Fixed Rate Home Loan Special (Owner Occupier, P&I)
A flexible 3 year fixed rate loan you can use to buy your own home.
3.83% 4.89% $0 $395 p.a. 80% Go to site More info
Mortgage Choice Basic Variable Rate - OO LVR <= 70% ($150k +) P&I Only
A basic variable home loan that offers a competitive interest rate with no application fees and no ongoing fees.
3.64% 3.64% $0 $0 p.a. 70% Enquire now More info
ClickLoans The Online Home Loan - LVR <80%
Pay no application or ongoing fees and get access to a free redraw facility with this innovative online lender.
3.84% 3.84% $0 $0 p.a. 80% Go to site More info
Virgin Reward Me Fixed Rate Home Loan - 3 Years $300k+ Special offer (Owner Occupier, P&I)
Get Velocity Frequent Flyer Points at settlement, monthly and every three years, plus the option to make up to $10,000 a year in extra repayments.
3.87% 3.91% $0 $10 monthly ($120 p.a.) 90% Enquire now More info
UBank UHomeLoan - 1 Year Fixed Rate (Owner Occupier, P&I)
A one year fixed rate offer with no ongoing bank fees.
3.59% 4.14% $395 $0 p.a. 80% Go to site More info
AMP Professional Package Fixed Loan - 3 Years (Owner Occupier, P&I)
A package home loan with a sharp fixed rate and a 10% deposit option for low deposit borrowers.
3.79% 4.67% $0 $349 p.a. 90% Enquire now More info
ClickLoans The Online Home Loan - LVR <70% with Offset
Enjoy all the benefits of the Basic Home Loan and take advantage of an offset account.
3.70% 3.90% $0 $0 p.a. 70% Go to site More info
Mortgage Choice Basic Variable Rate - OO LVR <= 80% ($150k +) P&I Only
A basic owner-occupier home loan with a low variable rate that requires a 20% deposit.
3.74% 3.74% $0 $0 p.a. 80% Enquire now More info
Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer ($150k+ Owner Occupier, P&I) Discount 1
New borrowers or refinancers can get a discounted rate with this package loan. Bonus $1,500 cashback for refinancers.
3.72% 4.10% $0 $395 p.a. 80% Go to site More info
Easy Street Fixed Home Loan - 2 Years (Owner Occupier, P&I)
Apply for Easy Street fixed rate home loans and get a competitive loan with a fixed interest rate.
3.85% 4.18% $500 $0 p.a. 95% Go to site More info
Tic:Toc Live in Loan Fixed Rate - 1 Year (Owner Occupier, P&I)
Apply online and get fast approval for this fixed rate, low-fee loan with redraw facilities. Add a 100% offset account for a small fee.
3.59% 3.58% $0 $0 p.a. 80% Go to site More info
Virgin Reward Me Variable Home Loan - LVR <= 80% ($500k to $750k Investor, P&I)
A competitive variable rate home loan with no application fee.
3.99% 4.13% $0 $10 monthly ($120 p.a.) 80% Enquire now More info
RACQ Bank Mortgage Saver Special Home Loan
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.
3.62% 3.62% $0 $0 p.a. 95% Go to site More info
Tic:Toc Live in Loan Fixed Rate - 3 Years (Owner Occupier, P&I)
A fixed rate loan with free redraws, few ongoing fees. Apply online with a fast approval process.
3.84% 3.82% $0 $0 p.a. 80% Go to site More info
loans.com.au Package Special - 2 Year Fixed (Owner Occupier, IO)
Pay no application or ongoing fee and borrow up to 80% LVR.
3.89% 3.94% $0 $0 p.a. 80% Go to site More info
Virgin Reward Me Variable Home Loan - LVR <= 80% (<$500k Owner Occupier, P&I)
Borrow up to $500000 and earn Velocity Frequent Flyer Points (terms and conditions apply).
3.73% 3.87% $0 $10 monthly ($120 p.a.) 80% Enquire now More info
Macquarie Bank Offset Home Loan  - LVR ≤ 70% (Owner Occupier, P&I)
Borrowers with a 30% deposit can get this competitive rate.
3.75% 4.00% $0 $248 p.a. 70% Enquire now More info
Newcastle Permanent Building Society  Premium Plus Package Fixed Rate - 1 Year Fixed (Owner Occupier, P&I)
Enjoy a competitive rate with no application fee for this package loan.
3.69% 4.75% $0 $395 p.a. 90% Go to site More info
Greater Bank Great Rate Discount Variable with Family Pledge Home Loan - Up to 110% LVR
Pay no deposit or LMI and get a discounted rate with this family pledge loan. Requires a family member to act as guarantor. NSW, Qld and ACT only.
3.74% 3.74% $0 $0 p.a. 110% Go to site More info
Auswide Bank Variable Home Loan Plus with Freedom Package - $100K+ LVR <= 90% (Special Offer, Owner Occupier)
A high maximum LVR home loan with redraw facility and additional payments. Get this mortgage with a 10% deposit.
3.76% 4.15% $0 $395 p.a. 90% Go to site More info
Heritage Bank Discount Variable Home Loan - LVR <=80% (Owner Occupier) New Customers Only
Family guarantee option available. Enjoy flexible repayments and a low minimum loan amount.
3.67% 3.69% $0 $0 p.a. 80% Go to site More info
Mortgage Choice Plus Home Loan - OO LVR <=80% ($150k+) P&I Only
A home loan with a competitive rate and plenty of handy features. This product comes with a 100% offset account.
3.81% 3.81% $0 $0 p.a. 80% Enquire now More info
AMP Essential Home Loan  -  $100,000 and above (Owner Occupier)
For a limited time, pay no application or settlement fees. You can also take advantage of a free redraw facility.
4.04% 4.07% $0 $0 p.a. 90% Enquire now More info
loans.com.au Offset Variable - Package Offset (Investment, P&I)
Package your owner occupied loan with investment loan and receive a discounted investment rate. 100% offset account included.
3.97% 3.99% $0 $0 p.a. 80% Go to site More info
AMP Professional Package Variable Rate Home Loan - $750,000 and above (Owner Occupier, P&I)
Package your loan with other AMP products and save on rates and fees.
3.69% 4.08% $0 $349 p.a. 90% Enquire now More info
State Custodians Low Rate LOC - LVR up to 80% (Owner Occupier, IO)
A low-fee line of credit loan from an online lender. Unlock the equity in your home and make interest-only repayments with a competitive rate.
3.93% 3.94% $0 $0 p.a. 80% Go to site More info
ME Basic Home Loan - LVR <=80% (Owner Occupier, P&I)
This variable rate loan keeps the features simple and fees low. This loan is offered by a 100% online lender.
3.89% 3.91% $0 $0 p.a. 80% Go to site More info
CUA Fixed Rate Home Loan - 3 Year Fixed (Investor, P&I)
Competitive rates for fixed for 3 years with redraw facility.
3.99% 5.35% $600 $0 p.a. 90% Go to site More info
Macquarie Bank Basic Home Loan - LVR up to 70% (Investor, P&I)
Investors with a 30% deposit can get this low rate loan to fund their property portfolio.
3.99% 3.99% $0 $0 p.a. 70% Enquire now More info
loans.com.au - 2 Year Fixed (Owner Occupier, P&I)
Borrow up to 90% of the value of the property you're buying, and pay no application fee.
3.89% 3.94% $0 $0 p.a. 90% Go to site More info
State Custodians Low Rate Home Loan with Offset - LVR 80% to 90% (Investor, P&I)
Access a fee-free offset account and a special interest rate for investors.
4.13% 4.14% $0 $0 p.a. 90% Go to site More info
ClickLoans The Online Investor Home Loan - LVR <80%
Investors get a 100% offset account and pay no application or ongoing fees on this loan from an innovative online lender.
4.18% 4.18% $0 $0 p.a. 80% Go to site More info
Greater Bank Great Rate Home Loan - Discounted Variable ($150K+ Owner Occupier) New Loans only
New customers can get a discounted variable rate and a fee-free redraw facility. NSW, QLD and ACT residents only.
3.72% 3.72% $0 $0 p.a. 90% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Years Fixed (Owner Occupier, P&I)
Borrow up to 90% of the value of the property you're buying and pay no application or ongoing fees.
3.94% 4.95% $595 $0 p.a. 90% Go to site More info
UBank UHomeLoan - 3 Year Fixed Rate (Owner Occupier, P&I)
A competitive fixed interest rate product with no ongoing bank fees.
3.74% 4.01% $395 $0 p.a. 80% Go to site More info
ClickLoans The Online Home Loan - LVR <70%
Get a discount for keeping your LVR at 70% or below with this innovative online lender.
3.70% 3.70% $0 $0 p.a. 70% Go to site More info
ME Flexible Home Loan Fixed - 2 Year Fixed Rate (Owner Occupier, P&I)
Access a fee-free 100% offset account and pay no application or ongoing fees.
3.99% 4.86% $0 $0 p.a. 80% Go to site More info
UBank UHomeLoan - 1 Year Fixed Rate (Investor, P&I)
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
3.99% 4.62% $395 $0 p.a. 80% Go to site More info
Greater Bank Ultimate Home Loan - Discounted 2 Year Fixed LVR ≤90% ($150K+ Owner Occupier)
A fixed rate loan with a 100% offset account and the option to make additional repayments. Loans over $150k receive a discounted rate. NSW, QLD and ACT residents only.
3.69% 4.54% $0 $395 p.a. 90% Go to site More info
UBank UHomeLoan Variable Rate -Discount Offer for Investor Variable P&I Rate
Get a discounted, low-fee investor loan from a convenient online lender. 20% deposit required.
3.99% 3.99% $0 $0 p.a. 80% Go to site More info
Yellow Brick Road Empower Home Loan - 3 Years Fixed LVR up to 95% (Owner Occupier P&I)
A competitive 3-year fixed rate loan with a high max insured LVR.
4.29% 4.26% $0 $0 p.a. 95% Enquire now More info
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Credit services for Aussie Select, Aussie IQ and Aussie Optimizer products are provided by AHL Investments Pty Ltd ACN 105 265 861 Australian Credit Licence 246786 ("Aussie"), and its appointed credit representatives. 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 Optimizer products is provided by Perpetual Limited ABN 86 000 431 827 (Lender). Credit for Aussie IQ is provided by Macquarie Bank Limited ABN 46 008 583 542 AFSL and Australian Credit Licence 237502. Home loans issued by the Lender are serviced by Macquarie Securitisation Limited ABN 16 003 297 336, Australian Credit Licence 237863 (MSL).

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Home Loan Offer

UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

3.59 % p.a.

variable rate

3.59 % p.a.

comparison rate

Home Loan Offer

Apply for the UBank UHomeLoan Variable Rate and get a low rate plus no upfront or ongoing fees as well as unlimited redraws.

  • Interest rate of 3.59% p.a.
  • Comparison rate of 3.59% p.a.
  • Application fee of $0
  • Maximum LVR: 80%
  • Minimum borrowing: $200,000
Go to site
Promoted

Your guide to finding the right mortgage

How do I compare mortgages to get the best deal?

Couple with the keys to their new home.There are three things every borrower needs to look at when hunting for the perfect home loan: rates, fees and features. The best home loans usually have:

  • The lowest interest rates. A lower interest rate means lower repayments. Shaving just a few points off your interest rate can unlock enormous savings over the life of a 30-year mortgage. You can easily sort loans by lowest rate in the table above.
  • Limited fees. Fees are also something you need to check when comparing. A home loan that hits you with multiple fees is probably going to cost you more than you realise over time. Check a loan's comparison rate to get a better idea of the added cost of fees.
  • Features you need. Home loans with added features can offer you more flexibility in how you manage your loan and make repayments. Offset accounts can help you cut down your interest repayments. Package loans let you bundle your mortgage with other financial products (like transaction accounts and credit cards) for convenience and discounts. Redraw facilities let you take out extra money you've paid into your mortgage to use in emergencies.

More guides to finding the right loan for you

What's the best home loan for me?

Once you've understood the basics you need to look more closely at your own specific needs. To find the best home loan for you, consider these questions:

  • What is your current financial situation? Take a hard look at your savings, income and expenses to work out how much you can afford to borrow. Be realistic, calculate your monthly repayments and factor in future rate rises to make sure you don't get stuck with repayments you can't afford.
  • What is your property strategy? The best mortgage is one that matches your buying intentions. If you're a young first home buyer with limited funds you're looking at a very different mortgage product compared to a middle-aged investor buying their second or third property.
  • What are your future financial needs? Your needs change over time. You might want a basic, no-frills loan now and one with more features later on as your income increases. A flexible home loan might serve you well for years into the future, provided the interest rate remains low. But you can always refinance to a better loan later. With this in mind, a loan that has high discharge or switching fees will penalise you for refinancing.

Finding the best mortgages for different borrowers

Here are several scenarios featuring different borrowers. They're all looking for the best loan, but they all need something a little different.

The cash-strapped first home buyers

A couple has purchased their first home.Sarah and Ted are in their late 20s and currently renting. They've saved up $100,000 but because they live in Sydney this isn't a very big deposit.

The best home loan for this young couple:

  • Has a low interest rate. They cannot afford massive repayments.
  • Is a low deposit loan. They probably haven't saved a 20% deposit so they'll need a loan with a maximum insured LVR of 90 or 95%.
  • Has a guarantor option. Alternatively, Sarah's parents may be willing to guarantee a portion of their deposit. So a loan that allows for guarantors is a great option.

The cautious investor

This property investor needs the right mortgage.Margaret is currently paying off her home. She wants to buy a unit as an investment. She has $200,000 in equity and will use a line of credit loan to cover her deposit. But she'll need a loan to buy the unit. She is less concerned with fast capital growth and more concerned with long-term income from rent.

The best loan for Margaret:

  • Is an investment loan. She cannot purchase an investment property with an owner-occupier loan.
  • Has a competitive interest rate. Investment loans have higher interest rates, so she needs to shop around for the best deal.
  • Has limited features. As her current loan has an offset account, and paying off this debt is her priority, Margaret doesn't need a full-featured loan.

The ripped-off refinancer

This man needs a cheaper home loan.David is paying off a $1 million mortgage. He hadn't looked at his interest rate in a while and was shocked to learn that the rate has jumped well above 4%. His current loan is a basic, no-frills variable loan without many extra features.

David wants to refinance to a loan that:

  • Has a much lower interest rate. This could save David thousands of dollars a year.
  • Has low fees. David's current mortgage has a hefty discharge fee. He wants to switch to a mortgage that doesn't slug him with more costs.
  • Has an offset account. David has managed to put away a bit of extra money while making repayments. He wants to put this cash into an offset to lower his interest repayments.

The above scenarios are generalised examples only.

Can a mortgage broker help me find the right mortgage product for me?

Yes, they can. While comparing for yourself is easy, finding the right home loan can take a lot of time and energy. Mortgage brokers are home loan professionals who compare loans from a wide panel of lenders. They can find you a product that matches your financial needs and property strategy and also help you with your application.

Find a mortgage broker and get your home loan journey started

I have a few more questions about getting a good quality home loan

Compare more home loan options here

*Disclaimer
The offers compared on this page are chosen from a range of products finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing products.

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Home Loan Offers

Important Information*
UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000

Take advantage of a low-fee mortgage with a special interest rate of just 3.59% p.a. and a 3.59% p.a. comparison rate.

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

A competitive interest rate home loan with interest only options. Interest rate 3.64% p.a.
comp rate of 3.66% p.a.

Tic:Toc Live in Loan Variable Rate - Principal & Interest

Get a very low interest rate and pay fewer fees. Enjoy a fast online application process and add a 100% offset account for $10 a month.

HSBC Home Value Loan - (Owner Occupier P&I)

Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online. Available with just a 10% deposit.

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110 Responses

  1. Default Gravatar
    MarkJuly 1, 2018

    I am 20 yrs old trying to go for my first house I work full time and I don’t have too much saved up yet in my opinion so where do I get started?

    • finder Customer Care
      JoshuaJuly 1, 2018Staff

      Hi Mark,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      It’s nice to know that you’re planning to buy your first house at a very young age. As a general rule, you need to save at least 10% of the property value. This can give a 5% buffer (for a maximum 95% LVR loan) to pay costs such as stamp duty and LMI onto the principal of the loan.

      Ensure that there is a high likelihood that you’ll qualify for a home loan before you apply. The way the credit system works, each application for credit is recorded against your name. Multiple entries in a short space will more than likely lead to rejection. Other factors that lenders may consider to assess your eligibility are your income, assets, liabilities, employment and credit history.

      Moreover, you mentioned that you are a first-time home buyer. In this case, you may want to read this guide: “The state-by-state guide to the First Home Owners Grant.”

      Finally, if you want to know more about the things you need in a loan when buying your first home, please click this link.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    HelenNovember 23, 2017

    I am 48. Never had a loan for anything as I believe you don’t get unless you have. I am entitled to the first home owners grant. Currently I’m on a sickness benefit but looking for work down the track. I’ve been looking at rentals but if I can buy my own home rather than pay someone elses off I don’t see why not to go for it. Where do I stand ?

    • finder Customer Care
      JudithNovember 24, 2017Staff

      Hi Helen,

      Thanks for reaching out to us. I hope all is well with you today.

      As we are a comparison website and general information service, I am unable to recommend or suggest a specific option for you, as it would entirely depend on your needs.

      You may check a list of home loan options on this page.

      To improve your chances of getting approved for a loan, please ensure that you meet the eligibility criteria and requirements of the loan option or lender and make sure to read the details, as well as the relevant Product Disclosure Statements / Terms & Conditions of the loan option before making a decision and consider whether the product or option is right for you.

      I hope this helps.

      Cheers,
      Judith

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    trentAugust 27, 2017

    can I obtain a home loan for a farm which is 42 ha which I intend to develop it has a home on it I am looking for 400;000 and I have 170,000

    • Default Gravatar
      DanielleAugust 28, 2017

      Hi Trent,

      Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.

      You are on the right page. You may customize, review, and compare the offers available on the table. Once you have selected one, you may proceed by clicking the green “Enquire Now” button.

      I hope this helps.

      Cheers,
      Danielle

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    patApril 17, 2017

    Looking at Low Doc Loan max borrowing on my property current value around 1.1 million I am self employed what can you offer Pat

    • finder Customer Care
      LouApril 18, 2017Staff

      Hi Pat,

      Thanks for your question.

      You may compare low doc home loans on this page. The maximum amount that you can borrow depends on the LVR of the home loan product you are getting.

      Cheers,
      Anndy

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    JamilJune 26, 2016

    If I am eligible to borrow 450k home loan for 30 years, what would be minimum repayment per week?

    • finder Customer Care
      MarcJune 27, 2016Staff

      Hi Jamil,
      thanks for the question.

      You can find out what your loan repayments would be for different loan rates using our loan repayment calculator.

      I hope this helps,
      Marc.

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    DegsyJanuary 22, 2016

    What is the “advertised rate”? And “comparison rate”? And what is the difference?

    • finder Customer Care
      MarcJanuary 22, 2016Staff

      Hi Degsy, the advertised rate is a interest rate charged for a home loan, and it’s decided by your lender. It’s used to work out what your loan repayments will be.

      The comparison rate is the advertised rate including some of the fees of the home loan (The application fee and any ongoing monthly fees for example), and is accurate for the example of a $150,000 loan over 25 years. By law, comparison rates must be included on all home loan advertisements, as it gives you a way to see what the actual cost of a home loan is because of the inclusion of these fees.

      You can find out more about it in our comparison rate guide.

      I hope this helps,
      Marc.

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    TonyAugust 20, 2015

    Will I be able to borrow with my Income being from Income protection payments

    • finder Customer Care
      BelindaAugust 21, 2015Staff

      Hi Tony,

      Thanks for your enquiry.

      Generally, income protection insurance is designed to help you cover expenses, such as mortgage repayments, in the event that you are unable to work due to injury or illness. Please note that your ability to service a mortgage using this benefit will depend on the type of cover that you have, but most policies provide up to 75% of your monthly income.

      As lenders have different eligibility criteria to qualify for home loans, it would be best to contact the lender directly to see whether you can borrow using the benefit from your income payments.

      Thanks,
      Belinda

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    steveMay 31, 2015

    What is the difference beteen the interest rate and the comparison rate?

    • finder Customer Care
      BelindaJune 1, 2015Staff

      Hi Steve,

      Thanks for your enquiry.

      The interest rate is the percentage of your home loan that you’ll end up paying in addition to the original loan amount.

      Whereas the comparison rate is a percentage amount calculated by adding together the interest rate plus any additional fees or charges associated with the loan. The figure is then converted into a percentage to reflect the true cost of the home loan.

      If you compare home loans based on the comparison rate, you’ll get a more accurate idea of the true cost of the loan.

      I hope this clarifies things for you.

      Thanks,
      Belinda

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    KMay 11, 2015

    Are there any fees if you choose to pay out the Essentials home loan (on Interest only terms) earlier? If so, what are they? Thank you

    • Default Gravatar
      JodieMay 12, 2015

      Hi,

      Thank you for contacting finder.com.au, we have followed up directly via email.

      Regards
      Jodie

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    raeleneMay 7, 2015

    what is interest rate for fixed an varible.. and what charges are there?

    • finder Customer Care
      MarcMay 7, 2015Staff

      Hi Raelene,
      thanks for the question.

      The interest rates for fixed and variable rate home loans is different depending on the product. The table on this shows some of the different rates and fees for some home loans.

      I hope this helps,
      Marc.

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