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
ME Bank is an online Australian bank owned by the Bank of Queensland.
Its home loan rates are quite competitive, especially on its fixed rate package loans.
The bank has phone and email support. If you want in-person help with your loan application, you might need to look elsewhere.
You need a 20% deposit to get most ME Bank home loans.
If you want a package home loan that offers a low rate bundled with other financial products in exchange for an annual fee, ME Bank is well worth considering.
Compare ME Bank home loans for December 2025
Hit the "Load more" button to compare a bigger selection of products and hit the green button to go to ME Bank's website to start an enquiry or learn more about the loan.
We currently don't have that product, but here are others to consider:
How we picked these
ME Bank home loan features
Here are the key features and details you need to know about ME's mortgage products.
Feature
Details
Minimum deposit
Most ME Bank loans have 80% maximum LVRs. This means you can borrow up to 80% with an ME Bank mortgage. But it does have a couple of options for borrowers with low deposits (that is, deposits below 20%).
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 ME 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.
Lenders like ME Bank
If you want to compare loans from lenders similar to ME Bank, then you can start with these online lenders. They all have competitive rates and may be a better match for your needs:
Athena. This digital fintech lender offers low-rate mortgages and an entirely online, convenient service.
Tiimely Home. This lender's online application tool can process your mortgage application fast. Backed by Bendigo and Adelaide Bank.
Homestar. A 100% online lender, Homestar has been providing mortgages to Australian borrowers since 2004.
loans.com.au. A Brisbane-based online lender, loans.com.au is backed by Firstmac, Australia's largest non-bank lender.
ING. This online bank is part of the global, Dutch-based financial group of the same name.
To make sure you find the right ME Bank loan, you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
Are you comfortable applying online? As ME Bank is an online lender, you need to be comfortable completing the entire home loan process via the web (with phone and chat support).
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. ME Bank 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 altogether?
What features do you need? If you want a 100% account with your home loan, make sure the ME Bank loan you're interested in has this feature before you apply.
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.
Pre-approval is not something every lender offers, but many do.
Most Australian borrowers bank with one of the Big Four (CommBank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender, but there's no reason to worry.
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.
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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It may be possible to take out a home loan, but it may be harder. Please see our guide here on home loans for borrowers over 55.
If you’re interested in this home loan from ME Bank, it is best to speak to the bank directly to get an understanding of what its credit assessors would look for. You can call 1300 490 540 to speak to a member of the team.
Alternatively, you could talk to a mortgage broker to go through your circumstances and all of your options.
Kind Regards,
Rebecca
TracyMay 15, 2022
Hi,
I have a block of land, that I own. I need to borrow to build my new home. All plans are council approved ready to go.
I am aware some banks won’t lend for new builds. Is this correct?
Can you point me in the right direction?
Thank you.
Kind regards
Tracy
Finder
RichardMay 16, 2022Finder
Hi Tracy,
The home loan required to fund a new home build is called a construction loan. Some lenders may not offer these products, but many do, including the Big Four banks. It’s a good idea to ask a lender if they offer construction loans before submitting any applications. Alternatively, you can talk to a mortgage broker who can help you find suitable mortgage options.
Kind regards,
Richard
DamianOctober 6, 2017
I have a Flexible Home Loan with ME Bank and I would like to switch it to Basic Home Loan with lower interest rate. What would be right procedure to go about it? Thanks.
Finder
JhezelynOctober 6, 2017Finder
Hi Damian,
Thank you for your comment.
Generally, banks do offer flexible ways to help you with your loans considering your current situation. Regarding the procedure on how to go about switching your home loan from Flexible to Basic, it might be time to talk to your bank about getting a loan check up. One of their specialists can take a look through your current loan situation and help bring it up to speed. Hoping for the best.
Regards,
Jhezelyn
SangitaMay 29, 2017
Hi, I do have loan and its 2 years fixed. But I do have few extra saving at the end of the year which I want to put to reduce my loan will I be able to do it.
Hope to get answer for my question.
LiezlMay 30, 2017
Hi Sangita,
Thanks for reaching out.
Yes, you can make extra repayments up to $30,000 during the fixed interest rate period. Kindly note that you are not able to redraw from a fixed interest rate facility during the fixed rate period.
I hope this helps.
Cheers,
Liezl
FrancisApril 15, 2016
I have a unencumbered property worth 1.2 m. My wife and I receive Centrelink benefits. Would we be eligible for a loan up to $150,000.
BelindaApril 15, 2016
Hi Francis,
Thanks for reaching out.
You can read our guide about home loans for Centrelink recipients which explains how you can go about applying for a home loan. Here, you can also view which Centrelink benefits are accepted by lenders and you can enquire with a mortgage broker to discuss your borrowing options.
Please note that most lenders only accept government benefits as a secondary source of income and they treat these types of applications on a case-by-case basis.
If you can prove to the lender that you have sufficient assets and savings to service the loan, you may be able to qualify for finance. However, keep in mind that a lender will also review your credit history and any existing debts that you have (e.g. personal loans or credit cards) when determining your propensity to repay the loan.
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.
Construction loan comparison is as simple as finding out how much you can borrow, then reviewing some of the best construction loans on the market to find the right fit.
What is an offset account? It can save you thousands in interest and help you own your home sooner.
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Can you have a 30 year mortgage at 60
Hi Les,
It may be possible to take out a home loan, but it may be harder. Please see our guide here on home loans for borrowers over 55.
If you’re interested in this home loan from ME Bank, it is best to speak to the bank directly to get an understanding of what its credit assessors would look for. You can call 1300 490 540 to speak to a member of the team.
Alternatively, you could talk to a mortgage broker to go through your circumstances and all of your options.
Kind Regards,
Rebecca
Hi,
I have a block of land, that I own. I need to borrow to build my new home. All plans are council approved ready to go.
I am aware some banks won’t lend for new builds. Is this correct?
Can you point me in the right direction?
Thank you.
Kind regards
Tracy
Hi Tracy,
The home loan required to fund a new home build is called a construction loan. Some lenders may not offer these products, but many do, including the Big Four banks. It’s a good idea to ask a lender if they offer construction loans before submitting any applications. Alternatively, you can talk to a mortgage broker who can help you find suitable mortgage options.
Kind regards,
Richard
I have a Flexible Home Loan with ME Bank and I would like to switch it to Basic Home Loan with lower interest rate. What would be right procedure to go about it? Thanks.
Hi Damian,
Thank you for your comment.
Generally, banks do offer flexible ways to help you with your loans considering your current situation. Regarding the procedure on how to go about switching your home loan from Flexible to Basic, it might be time to talk to your bank about getting a loan check up. One of their specialists can take a look through your current loan situation and help bring it up to speed. Hoping for the best.
Regards,
Jhezelyn
Hi, I do have loan and its 2 years fixed. But I do have few extra saving at the end of the year which I want to put to reduce my loan will I be able to do it.
Hope to get answer for my question.
Hi Sangita,
Thanks for reaching out.
Yes, you can make extra repayments up to $30,000 during the fixed interest rate period. Kindly note that you are not able to redraw from a fixed interest rate facility during the fixed rate period.
I hope this helps.
Cheers,
Liezl
I have a unencumbered property worth 1.2 m. My wife and I receive Centrelink benefits. Would we be eligible for a loan up to $150,000.
Hi Francis,
Thanks for reaching out.
You can read our guide about home loans for Centrelink recipients which explains how you can go about applying for a home loan. Here, you can also view which Centrelink benefits are accepted by lenders and you can enquire with a mortgage broker to discuss your borrowing options.
Please note that most lenders only accept government benefits as a secondary source of income and they treat these types of applications on a case-by-case basis.
If you can prove to the lender that you have sufficient assets and savings to service the loan, you may be able to qualify for finance. However, keep in mind that a lender will also review your credit history and any existing debts that you have (e.g. personal loans or credit cards) when determining your propensity to repay the loan.
All the best,
Belinda