Compare Commonwealth Bank home loan rates for July 2019.
On this page you can find information about Commonwealth Bank home loans. Skip ahead to the full table of products or read more about the lender.
Competitive Commonwealth Bank rates for...
- Home buyers. The Commonwealth Bank Extra Home Loan - 2 Year Introductory Rate (Owner Occupier, P&I)
has a 3.59% p.a. interest rate and lets you borrow up to 95%. - Investors. The Commonwealth Bank Wealth Package Fixed Home Loan - 2 Year Fixed (Investor) P&I
has a 3.89% p.a. interest rate and lets you borrow up to 90%.
Compare Commonwealth Bank home loans
Compare Commonwealth Bank home loan products below and hit "load more" to see a fuller selection of loans. "Enquire now" will open up a form where you can leave your details and get in touch with a mortgage broker, who can help you get more information about this loan and compare other, similar products. You can also find more information on each individual product by clicking "more info".
Commonwealth Bank lender profile
- The Commonwealth Bank was founded by the Australian Government in 1911. Today it has more than 800,000 shareholders and employs 51,000 staff.
- The bank offers the full spectrum of financial services, including a wide range of home loans.
- It is one of the largest banks in Australia, with branches across the country and a robust online banking platform, including an app.
Commonwealth Bank mortgage features
The Commonwealth Bank has a range of mortgages for many types of borrowers. It offers loans for first home buyers, investors, those looking to refinance, and those who want to access their existing home equity.
| Feature | Details |
|---|---|
| Deposit size | You can borrow up to 95 % with some Commonwealth Bank mortgages. |
| Split rate | Most Commonwealth Bank mortgages allow you to split your loan into fixed and variable portions. |
| Interest only | Many CBA mortgages have interest only rates for investors and owner occupiers, including the Extra Home Loan and Fixed Rate Wealth Package. |
| Redraw | There is a redraw facility on the Extra Home Loan but not on the Fixed Rate Wealth Package. |
| Package Benefits | The Fixed Rate Wealth Package offers special interest rates and discounts on selected credit cards. |
How do I apply for a Commonwealth Bank mortgage?
Clicking "Enquire now" on the Commonwealth Bank comparison table lets you get in touch with a qualified mortgage broker whose lending panel includes the Commonwealth Bank and many other lenders. They can offer you free advice and guidance on the product you're interested in.
Eligibility
Each Commonwealth Bank product has specific eligibility criteria but some will apply to all products. For example:
- 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 the Commonwealth Bank 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:
- Identification documents. You will need identification such as a driver's license, 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).
Detailed guide to home loan applications and paperwork
Looking for more mortgage options?
- Online lenders. Compare more mortgages from online lenders.
- Big Four banks. Check out home loan rates from Australia's Big Four banks.
- Investors. Compare loans for property investors.
- Mortgage brokers. Find out how to get free, expert guidance from a mortgage broker.
Hi,
I am just wanting to know if Commonwealth allow a split family pledge? I have found a property I wish to buy and my parents and my parents in law would like to share the guarantee against the property, rather than putting the full amount up on their own. Is this possible? I have no other loans or credit cards, stable employment and a good credit history.
Thanks
Hi Violet,
thanks for the question.
This will be decided on a case-by-case basis, so you might wish to contact CBA directly to find out if this would be something you would be able to do.
I hope this helps,
Marc.
Do lenders ever approve loans to people on disability pension, if they have 20% deposit and want to only borrow 60K, and have no other debts.The amounts to repay are very affordable, compared to the rent they currently are paying?
Hi Caroline,
Thanks for your enquiry.
On this page you can read about home loans for pensioners and you can enquire with a mortgage broker discuss your needs. The broker will then be able to draw upon their panel of lenders to find one that’s likely to review your application.
Generally, a lender will review your application on a case-by-case basis but they will take into account your age, assets and debts, as well as the amount of benefit you receive, to determine whether or not you can comfortably service the loan.
You may be required to provide evidence of funds to complete the deposit, bank statements showing your pension being deposited into your bank account (normally 6 months) and a letter from Centrelink confirming the status of your pension.
Thanks,
Belinda
I am considering purchasing a hobby farm of approx.240 ha $600000.My wife and I earn Gross $180k between us we are perm. teachers of 7-10 years.We currently have a wealth package loan for our home o/s debt $135k value of property $550k.We do not intend to run the farm as a commercial venture,we would lease the house on farm against a portion of the farm to run stock on and run 40 cattle as a hobby for ourselves. J Connors
Hi Jim,
Thanks for your question.
Please note that finder.com.au is an online comparison service and is not a product issuer. If you would like to discuss your eligibility or options, please get in touch with the Commonwealth Bank directly.
Hope this helps,
Shirley
How much deposit would you need to buy a rental/investment property?
I earn 160k before tax so I could easily top up payments (by up to $800pw), just don’t have much saved yet
Hi Paul,
thanks for the question.
You will usually need a deposit of at least 5 – 20% of the purchase price of the property. Keep in mind that this will depend on the lender and the specific loan, and also note that borrowing with a deposit of less than 20% will come with Lender’s Mortgage Insurance costs, which is a fee charged to you to cover the risk of having a smaller deposit.
I hope this helps,
Marc.
searching for table showing 3 year, interest only,( variable) investment home loan rates, over 200K. What do I google to find this exact request? thank you.
Hi Elizabeth,
Thanks for your question.
I actually did some digging on the actual CommBank website, I’ve emailed you the link to their Rates & Fees PDF for home loans.
Cheers,
Shirley
Do banks charge the application fee if you are changing banks for a better rate?
Thanks
Hi Gabrielle,
thanks for the question.
In many cases, banks will still charge an application fee if you’re refinancing. This doesn’t mean you have to pay it though. Often, if you simply negotiate with your new lender, they’ll be eager to get your business by offering fee discounts, cashbacks or even lower rates.
Another good technique to try is to ask your existing lender if they can lower your rate. You lender will want to keep your business and so might drop rates to keep you from leaving, meaning you don’t have to go through the effort of finding a new loan and paying upfront fees.
Also, keep in mind that there are quite a few home loans which offer cashbacks, which you can compare here.
I hope this helps,
Marc.
Why there are loans with no deposit. It’s take a few yrs to save and the property prices keeps going up.
Hi Bhama,
Thanks for your question.
Since the GFC, the lending criteria for home loans has become stricter.
No deposit home loans can be available if you have a guarantor. There are also low deposit home loans available.
Cheers,
Shirley
Hi…….we have a home loan of 251,000 and last year we fixed it for 5 years but due to unforeseen circumstances we are forced to sell it. This means we will have to break our fixed rate 4 years early. roughly how much will this cost us (i know its going to be so so much). Also are big banks willing to negotiate or are the rules set in stone?
Hi Carla,
Thanks for your question.
The break costs and rules for a home loan is determined on a case by case basis. Please contact your home loan consultant or the customer service team at Commonwealth Bank to enquire about this.
Cheers,
Shirley
how long to approve first home loan , I have 100k deposit
Hi Steve,
Thanks for your comment.
It is possible for CBA to provide a decision on your loan within an hour if you provide enough information. It also depends on a number of factors like if you’ve already found a property that you’d like to buy.
Hope this helps,
Shirley