Online home loans – compare 12+ rates from digital lenders | Finder

Online home loans and lenders

Online lenders can deliver sharp rates and innovative products. Plus, many of them are backed by larger, traditional lenders.

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Online home loans from digital lenders are a popular option for home buyers on a strict budget, or anyone who wants to save money. With sharp rates, a wide range of products and easy-to-use platforms, they can be a great alternative to traditional banks.

Compare online home loans and online brands

Data updated regularly
$
years
Name Product Interest Rate (p.a.) Comp. Rate^ (p.a.) Fees Max LVR Monthly Payment
homeloans.com.au Low Rate Home Loan with Offset
2.14%
2.16%
  • App: $0
  • Ongoing: $0 p.a.
60%
$566.11
A competitive rate with no application or ongoing fees. This loan is not available for construction.
Athena Variable Home  Loan
2.64%
2.59%
  • App: $0
  • Ongoing: $0 p.a.
80%
$604.76
A competitive investor variable rate that falls as you build equity.
UBank UHomeLoan Variable Rate
2.74%
2.74%
  • App: $0
  • Ongoing: $0 p.a.
80%
$612.67
Get a discounted, low-fee investor loan from a convenient online lender. 20% deposit required.
homeloans.com.au Low Rate Home Loan with Offset
2.29%
2.31%
  • App: $0
  • Ongoing: $0 p.a.
60%
$577.55
A competitive rate with no application or ongoing fee. This loan is not available for construction.
Athena Variable Home  Loan
2.59%
2.56%
  • App: $0
  • Ongoing: $0 p.a.
70%
$600.83
Athena's refinance offer for investors and owner occupiers.
UBank UHomeLoan Fixed
2.24%
2.33%
  • App: $0
  • Ongoing: $0 p.a.
80%
$573.72
A five year fixed rate offer with no ongoing bank fees.
homeloans.com.au Low Rate Home Loan with Offset
2.69%
2.52%
  • App: $0
  • Ongoing: $0 p.a.
80%
$608.71
A competitive rate with no application or ongoing fee. This loan is not available for construction.
Tic:Toc Live-in Loan Fixed Rate Home Loan
1.89%
2.15%
  • App: $0
  • Ongoing: $0 p.a.
90%
$547.35
Get a very low interest rate and pay no application, settlement or valuation fees. Apply online for full approval in real time and add a 100% offset account for $10 a month.
Athena Variable Home  Loan
2.19%
2.19%
  • App: $0
  • Ongoing: $0 p.a.
60%
$569.91
Owner occupiers with 40% deposits or equity can get this competitive variable rate loan. No upfront or ongoing fees.
IMB Budget Home Loan
2.68%
2.74%
  • App: $449
  • Ongoing: $0 p.a.
95%
$607.92
NSW and ACT customers only. You can get an interest rate discount for a limited time with this competitive variable mortgage.
Athena Variable Home  Loan
2.24%
2.21%
  • App: $0
  • Ongoing: $0 p.a.
70%
$573.72
A low variable rate for owner occupiers with 30% deposits. No upfront or ongoing fees.
UBank UHomeLoan Variable Rate
3.14%
3.01%
  • App: $0
  • Ongoing: $0 p.a.
80%
$644.87
Pay interest only repayments with this special offer for investors.
IMB Fixed Rate Home Loan
1.89%
2.87%
  • App: $449
  • Ongoing: $6 p.a.
95%
$547.35
NSW and ACT customers only. Lock in a low fixed rate for two years. Available with a 5% deposit.
homeloans.com.au Low Rate Home Loan with Offset
2.24%
2.26%
  • App: $0
  • Ongoing: $0 p.a.
90%
$573.72
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.
UBank UHomeLoan Fixed
1.75%
2.22%
  • App: $0
  • Ongoing: $0 p.a.
80%
$537
This very low fixed rate is only available until 29 April 2021. Other conditions apply. A competitive fixed rate loan with no ongoing fees. Requires a 20% deposit
UBank UHomeLoan Fixed
1.99%
2.33%
  • App: $0
  • Ongoing: $0 p.a.
80%
$554.81
Fix your mortgage for 1 year with a very competitive rate and no ongoing fees.
homeloans.com.au Low Rate Home Loan with Offset
2.39%
2.41%
  • App: $0
  • Ongoing: $0 p.a.
80%
$585.25
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.
IMB Budget Home Loan
2.58%
2.64%
  • App: $449
  • Ongoing: $0 p.a.
80%
$600.05
A competitive variable rate for borrowers with 20% deposits saved. Available for NSW and ACT borrowers only.
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Are online home loans safe?

Just because you haven't heard of a small online lender doesn't mean they're unreliable. Most of these brands are owned or funded by a larger lender. And even the smallest lender is bound by Australian financial regulations.

However, if you are concerned about the safety of an online lender, you should check that they have 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.

Who takes the risk?

It's important to keep in mind that when you take out a home loan, the lender is the one actually taking the risk. In the extremely unlikely event 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, and the only change will be the company servicing your loan.

Tell me more about some of these 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:

  • UBank. This entirely digital lender is backed by NAB, one of the nation's largest banks.
  • Athena. This digital fintech lender offers low-rate mortgages and an entirely online, convenient service.
  • Tic:Toc. This startup boasts that its online application tool can process your mortgage application faster. They're backed by the 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.
  • ME Bank. Member's Equity was established back in 1994 and went fully digital in 2012.
  • ING. This online bank is part of the global, Dutch-based financial group of the same name.

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.

Are there any downsides to going with a digital lender?

  • For regional properties. 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.
  • The personal touch. 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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