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4-year fixed rate home loans

Looking to lock in your rate for the long term? Compare 4-year fixed rate loans from across the market.

Compare 4-year fixed rate home loans

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Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Principal & Interest 4Y Fixed20% min. depositOwner-occupier
Interest Rate
6.89%
Comparison Rate
8.21%
Fees
Application: $600
Ongoing: $8 per month
Monthly Payment
$988
Principal & Interest 4Y Fixed20% min. depositOwner-occupier
Interest Rate
6.59%
Comparison Rate
7.68%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$958
Principal & Interest 4Y Fixed20% min. depositOwner-occupier
Interest Rate
5.99%
Comparison Rate
7.45%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$900
Principal & Interest 4Y Fixed20% min. depositOwner-occupier
Interest Rate
6.74%
Comparison Rate
7.06%
Fees
Application: $0
Ongoing: $10 p.a.
Monthly Payment
$973

Speak to a broker about your options

Consultant
Interest only 4Y Fixed10% min. depositInvestment
Interest Rate
6.04%
Comparison Rate
7.49%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$905
Principal & Interest 4Y Fixed10% min. depositOwner-occupierOffset account
Interest Rate
6.14%
Comparison Rate
6.16%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$914
Principal & Interest 4Y Fixed10% min. depositInvestment
Interest Rate
5.94%
Comparison Rate
7.59%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$895
Principal & Interest 4Y Fixed10% min. depositOwner-occupier
Interest Rate
6.14%
Comparison Rate
6.05%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$914
Principal & Interest 4Y Fixed10% min. depositOwner-occupier
Interest Rate
5.84%
Comparison Rate
7.33%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$885
Principal & InterestInterest only 4Y Fixed10% min. depositOwner-occupier
Interest Rate
5.84%
Comparison Rate
7.12%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$885
Principal & Interest 4Y Fixed5% min. depositOwner-occupier
Interest Rate
6.74%
Comparison Rate
6.73%
Fees
Application: $0
Ongoing: $299 p.a.
Monthly Payment
$973
Principal & Interest 4Y Fixed20% min. depositOwner-occupierOffset account
Interest Rate
6.49%
Comparison Rate
6.55%
Fees
Application: $0
Ongoing: $248 p.a.
Monthly Payment
$948
Interest only 4Y Fixed5% min. depositInvestment
Interest Rate
6.49%
Comparison Rate
6.38%
Fees
Application: $499
Ongoing: $0 p.a.
Monthly Payment
$948
Principal & Interest 4Y Fixed20% min. depositOwner-occupier
Interest Rate
6.49%
Comparison Rate
6.32%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$948
Principal & Interest 4Y Fixed5% min. depositOwner-occupier
Interest Rate
6.24%
Comparison Rate
6.85%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$924
Principal & Interest 4Y Fixed5% min. depositOwner-occupier
Interest Rate
6.84%
Comparison Rate
8.18%
Fees
Application: $600
Ongoing: $8 per month
Monthly Payment
$983
Principal & Interest 4Y Fixed5% min. depositOwner-occupier
Interest Rate
6.69%
Comparison Rate
7.92%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$968
Principal & Interest 4Y Fixed20% min. depositOwner-occupier
Interest Rate
6.19%
Comparison Rate
6.18%
Fees
Application: $0
Ongoing: $299 p.a.
Monthly Payment
$919
Principal & Interest 4Y Fixed20% min. depositOwner-occupier
Interest Rate
6.09%
Comparison Rate
6.33%
Fees
Application: $449
Ongoing: $6 p.a.
Monthly Payment
$909
$2000-$4000 cashback
Eligible refinancers can get up to $4,000 cashback when switching their loan to IMB. Loan value criteria applies. Other terms and conditions also apply.
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Why should I fix my home loan rate for 4 years?

Most Australians go for variable rate home loans. Borrowers who do fix, typically do so for 1-3 years.

Fixing your rate for 4 years means your interest rate will be higher (and thus more expensive). And if you want to refinance the loan or end it during the 4-year fixed period, you'll pay a hefty fixed rate break cost.

But there are some reasons people choose these loans:

  • Repayment certainty. Your repayments won't change for 4 years. This means you know exactly how much to budget for your mortgage repayments for quite a long time. For some people, that beats the savings that come with a lower interest rate.
  • Forget about rate rises. Borrowers on variable rate home loans know that their home loan rate could rise at any time. With fixed rate loans, you don't have to worry. For some borrowers, this peace of mind is worth getting a higher rate.
  • Fixing for the long term. Fixing your rate for 4 years appeals to a borrower who wants to "set and forget" their rate.

Why are 4-year fixed rate loans less popular?

There are a couple of downsides to fixing for a long time that put off many borrowers:

  • Higher rates. Rates for a 4-year home loan tend to be higher than most fixed rate loans. This makes your monthly repayments more expensive.
  • Higher break costs. If you exit a home loan early or need to refinance suddenly, you have to pay a break fee if you have a fixed rate loan. The fixed rate break cost is determined partly by your loan amount, your rate and how long is left on your fixed period. The longer you have left, the higher the cost will be.

How do 4-year fixed rate home loans work?

A 4-year fixed rate home loan is like any other home loan – you borrow money and repay it over the loan term. But for the first 4 years of the loan, your repayments will stay the same every month.

The revert rate

After the fixed period, your loan reverts to a variable rate loan. Variable interest rate home loans can change at any time as lenders respond to changes in money markets and the overall economy.

When your fixed rate ends, it's a good time to compare home loans and see if you can get a better deal on a new variable rate loan. You could also get a new fixed rate loan instead.

Other fixed rate periods

Most lenders offer fixed rates between 1 and 5 years. Learn more about different fixed periods with these guides:

Are 4-year fixed rates higher than variable rates?

On average, 4-year fixed rates are much higher than variable rates. However, for a brief period in 2021, several lenders offered incredibly low rates for 4-year fixed rate loans. These products had rates under 2.00%.

If you'd fixed for 4 years at that point, you'd have one of the lowest rates on record until 2025. That's incredible, considering that variable rates are now around 6% at the lowest and 4-year fixed rates are slightly higher.

This was a rare event and required a very unique set of circumstances (including a very low rate lending environment). Now, once again, variable loans are the lowest interest rates on the market.

Is it too late to lock in a low 4-year fixed rate?

If you want a really low fixed rate, a 1- or 2-year rate will probably be lower than a 4-year rate now.

You can see the current difference between fixed and variable rates on our average interest rates guide.

How do I compare 4-year fixed rate home loans?

To make sure you get a great deal on a 4-year fixed rate loan, pay attention to the rate, the fees and the loan's features.

Focus on the following:

Interest rate

Get a lower rate

Even if fixed rates are higher than variable rates, it's important to compare multiple 4-year fixed rates to find a good deal. Why pay more interest for no reason?

Fees

Get a loan with low fees

Some home loans have lots of fees and others have none. A lower interest rate is more important, but the fewer the fees, the cheaper the loan will be.

Features

Loan features

Fixed rate loans have fewer features than variable rate loans, like 100% offset accounts or the ability to make extra repayments. But some do, so it's worth comparing.

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Since 2014, we've helped 150,000+ people find a home loan by explaining the nitty gritty details simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.

More questions about fixing your home loan rate for 4 years

More guides on Finder

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