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Online home loans and lenders

Online lenders offer super-low interest rates and quick loan processing times. Compare the latest offers today.

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Compare online home loans and online brands

Online home loans from digital lenders are a popular option for home buyers who value swift, stream-lined service and who are happy to do business with a purely digital lender. With very low interest rates, a wide range of products and easy-to-use platforms, they can be a great alternative to traditional banks – many of them are even backed by big banks!
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years
Name Product Interest Rate (p.a.) Comp. Rate p.a. Fees Monthly Payment

Nano Variable Home Loans P&IHome≥ 20% Deposit

Nano Variable Home Loans
2.74%
2.74%
  • App: $0
  • Ongoing: $0 p.a.
$613
Competitive rate with zero fees, fast approval and a 100% free offset account. Available for refinancers and existing buyers purchasing their next home. 20% deposit required.

homeloans.com.au Low Rate Home Loan with Offset P&IHome≥ 40% Deposit

homeloans.com.au Low Rate Home Loan with Offset
2.64%
2.64%
  • App: $0
  • Ongoing: $0 p.a.
$605
A competitive rate with no application or ongoing fees. This loan is not available for construction.

Ubank Neat Variable Home Loan P&IHome≥ 40% Deposit

Ubank Neat Variable Home Loan
2.64%
2.65%
  • App: $0
  • Ongoing: $0 p.a.
$605
Get flexibility and the option to make unlimited extra repayments with this variable rate loan.

Unloan Variable Home Loan P&IHome≥ 20% Deposit Refinancers only

Unloan Variable Home Loan
2.64%
2.56%
  • App: $0
  • Ongoing: $0 p.a.
$605
A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank.

Yard Variable Home Loan P&IHome≥ 40% Deposit

Yard Variable Home Loan
2.64%
2.66%
  • App: $0
  • Ongoing: $0 p.a.
$605
Get a low variable rate loan with this online lender. 100% offset account. Requires a 40% deposit.

homeloans.com.au Low Rate Home Loan with Offset P&IInvestment≥ 40% Deposit

homeloans.com.au Low Rate Home Loan with Offset
2.79%
2.79%
  • App: $0
  • Ongoing: $0 p.a.
$617
A competitive rate with no application or ongoing fee. This loan is not available for construction.

Ubank Neat Variable Home Loan P&IHome≥ 20% Deposit

Ubank Neat Variable Home Loan
2.84%
2.86%
  • App: $0
  • Ongoing: $0 p.a.
$621
A competitive variable rate loan that comes with a 100% offset account. 20% deposit required.

Nano Variable Home Loans P&IInvestment≥ 20% Deposit

Nano Variable Home Loans
3.04%
3.04%
  • App: $0
  • Ongoing: $0 p.a.
$637
Investors can get this no-fee variable rate loan. You will need a 20% deposit. Fast online approval. Available for refinancers and existing buyers purchasing their next property.

homeloans.com.au Low Rate Home Loan with Offset IOInvestment≥ 20% Deposit

homeloans.com.au Low Rate Home Loan with Offset
3.19%
2.99%
  • App: $0
  • Ongoing: $0 p.a.
$649
A competitive rate with no application or ongoing fee. This loan is not available for construction.

Speak to a broker about your options

Consultant

Yard Variable Home Loan P&IHome≥ 20% Deposit

Yard Variable Home Loan
2.74%
2.76%
  • App: $0
  • Ongoing: $0 p.a.
$613
A competitive variable rate loan for home buyers with an optional offset account ($120 annual fee). 20% deposit required.

Nano Variable Home Loans IOHome≥ 20% Deposit

Nano Variable Home Loans
3.24%
2.93%
  • App: $0
  • Ongoing: $0 p.a.
$654
An interest-only loan for owner-occupiers with 20% deposits or equity. This loan has no fees. Available for refinancers and existing buyers purchasing their next home.

homeloans.com.au Low Rate Home Loan with Offset IOHome≥ 40% Deposit

homeloans.com.au Low Rate Home Loan with Offset
2.94%
2.74%
  • App: $0
  • Ongoing: $0 p.a.
$629
A competitive rate with no application or ongoing fee. This loan is not available for construction.

loans.com.au Smart Booster Discount Variable Home Loan P&IHome≥ 20% Deposit

loans.com.au Smart Booster Discount Variable Home Loan
2.74%
3.22%
  • App: $0
  • Ongoing: $0 p.a.
$613
Home buyers can get a very low discounted variable rate for the first year. Requires a 20% deposit. Add an offset sub-account for an additional 0.10% on your interest rate. Get your loan processed fast and settle within 30 days.

Nano Variable Home Loans IOInvestment≥ 20% Deposit

Nano Variable Home Loans
3.34%
3.15%
  • App: $0
  • Ongoing: $0 p.a.
$662
This variable investment loan has interest-only repayments. Get fast online approval. Available for refinancers and existing buyers purchasing their next property. Requires a 20% deposit.

homeloans.com.au Low Rate Home Loan with Offset P&IHome≥ 20% Deposit

homeloans.com.au Low Rate Home Loan with Offset
2.74%
2.74%
  • App: $0
  • Ongoing: $0 p.a.
$613
This loan offers a competitive variable rate and a 100% offset account to help save you on interest repayments. This loan is not available for construction.

homeloans.com.au Low Rate Home Loan with Offset P&IInvestment≥ 20% Deposit

homeloans.com.au Low Rate Home Loan with Offset
2.89%
2.89%
  • App: $0
  • Ongoing: $0 p.a.
$625
This investment loan keeps fees low, has a sharp interest rate and comes with a 100% offset account. This loan is not available for construction.
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Compare up to 4 providers

Are online home loans safe?

Just because you haven't heard of a small online lender, doesn't mean they're unreliable. Many online banks, also known as neobanks, are owned or funded by a larger lender, and even the smallest lender is bound by Australian financial regulations.

If you are concerned, you can check that an individual lender has a Australian Credit Licence (ACL). Lenders should list their ACL number at the bottom of their webpage. This number can be cross-referenced with ASIC Connect's databases.

In the extremely unlikely event that an online lender closes up shop, your home loan is likely to be sold to another lender. This should have little to no effect on your repayments or overall loan, and the only change will be the company servicing your loan.

Learn more about online lenders

Here's a little more information about some of the online lenders in our table, including which organisations fund or support them, and the digital innovations they offer:

  • 86 400. This online lender offers super-fast loan turnarounds and was bought by NAB in May 2021.
  • Athena. This digital fintech lender offers low-rate mortgages and an entirely online service.
  • Homestar. A 100% online lender, Homestar has been providing mortgages to Australian borrowers since 2004.
  • ING. This online bank is part of the global, Dutch-based financial group of the same name.
  • Loans.com.au. A Brisbane-based online lender, Loans.com.au is backed by Firstmac, Australia's largest non-bank lender.
  • ME Bank. Member's Equity was established back in 1994 and went fully digital in 2012. It's owned by Bank of Queensland.
  • Nano Home Loans. Nano is an online lender with low rates and a fast approval process, currently only available to refinancers.
  • Tic:Toc. This startup boasts a fast online application tool, and they're backed by the Bendigo and Adelaide Bank.
  • UBank. This entirely digital lender is backed by NAB, one of the nation's largest banks.

What are the benefits of using an online home loan lender?

  • Lower rates. Because they don't have the overheads of operating branches, online lenders can pass their savings onto you in the form of much lower interest rates. Many online lenders also offer innovative products and have a wide product range to suit a variety of borrowers.
  • Convenience. Online lenders also often have easy-to-use platforms that can help you speed through the application process. And with a heavy focus on tech development, they're often able to offer faster approvals than traditional lenders. They also offer the ease and convenience of completing the mortgage application process from home rather than having to visit a bank branch.
  • Faster processing. Online lenders are innovating as a fast pace, and many of them offer super swift loan processing times – including the ability to assess, review and approve your home loan within hours.

Are there any downsides to going with a digital lender?

Some of the smaller online lenders aren't able to lend money for properties in regional areas.

In the mortgage world, rural areas are regarded as riskier security, and many online lenders don't have the size nor expertise to handle these types of loans. When purchasing a rural property, it is worth asking around for the lenders that permit home loans for regional areas.

Also, if you're uncomfortable with using the Internet for your banking, or you'd prefer face-to-face communication with your lender, then an online home loan probably isn't right for you.

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    2 Responses

    1. Default Gravatar
      Kevin.January 13, 2020

      Do you lend on property purchases in country Qld e.g Innisfail?

      • Default Gravatar
        NikkiJanuary 15, 2020

        Hi Kevin,

        Thanks for your comment and I hope you are doing well. You would be able to know if a lender approves property purchases in a certain state by contacting them directly. You will find a table that compares the features and benefits of each home loan provider such as max loan rate, interest and etc. This way it will be easier for you to see which provider fits you best. To get started, browse through the list of lenders on the page and click the GO TO SITE button to be redirected to their main website. You can also click the compare box beside each loan option and compare up to 4 options side by side for easier comparison.

        As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.

        Hope this helps and feel free to reach out to us again for further assistance.

        Best,
        Nikki

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