How much should I borrow for a mortgage?

How much you should borrow when buying a house depends on your income, your spending habits and the amount you can save for a deposit.

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Lenders have their own criteria for determining how much they will lend you. But you also need to work out how much you should borrow for your mortgage. You need to think about your budget, how much you earn and ultimately, how much you can realistically afford to repay.

Only you know your own budgetary discipline. This means you need to take into account not just how much you can borrow, but how much you should borrow.

How banks decide what you can borrow

Lenders decide how much you can borrow based on serviceability calculations. These calculations take into account your income from various sources along with your expenses. Lenders then look at the proposed debt as a proportion of your monthly income and build in a buffer for potential interest rate rises.

How banks calculate serviceability

When calculating your expenses, lenders vary in their approach. While some look at your actual expenditure, others use models that estimate your expenses. They do this by looking at the median Australian household spend for basics such as food, utilities and transport, and then adding in a set amount for discretionary spending.

How banks calculate your expenses

Based upon the lender’s calculations of your monthly expenditure and your monthly income, lenders will decide the maximum amount of additional debt they believe you can service. In deciding on the size of the home loan to offer you, lenders will also take into account the type of property you’re buying and the size of the deposit you have.

How you should decide what you can borrow

What the bank will lend you may differ from the amount you feel you can comfortably repay. In some cases, a lender’s estimate may be on the low side, and you might be disappointed by the maximum amount available to you. In other cases, a lender may be willing to extend you more credit than you feel comfortable accepting.

Before you decide how much you should borrow, you need to ask yourself a few questions:

What kind of lifestyle do I want?

In all likelihood, taking on a home loan means you’ll have to make a few changes in your lifestyle. While home ownership comes with many positive lifestyle changes, it can also mean some changes that might not be so welcome.

Taking on the responsibility of a home loan could mean you’ll have to curtail your spending in other areas. If you’re used to going out, spending on takeaways or buying a lot of discretionary items, you may have to significantly adjust your lifestyle once you have home loan repayments to make. How significantly will depend on how much you borrow.

To get an idea of the amount a home loan will add to your monthly expenditure, you can use the repayment calculator below. You can look at various borrowing scenarios to see what your repayments will be if you borrow different amounts.

Before deciding on the amount you’re comfortable borrowing, have a look at your current average monthly expenditure. Once you’ve figured this out, honestly assess what sacrifices you’re willing to make to pay your home loan repayments.

Am I comfortable paying LMI?

One of the factors that will determine the amount lenders will offer you is the size of your deposit. Some lenders will approve home loans with as little as a 5% deposit, but if you choose to take this option, you’ll find yourself paying lenders mortgage insurance (LMI).

LMI is an insurance policy that covers your lender in the event you default on your home loan. It’s charged when you borrow more than 80% of the value of the property you’re buying. LMI can add thousands of dollars to the cost of a home loan and will end up increasing your home loan repayments.

If the added burden of paying LMI is too much, you might need to rethink the amount you want to borrow. If you can keep your loan-to-value ratio (LVR) below 80%, you can avoid having to pay this added expense.

How disciplined am I?

Once you’ve decided on the kind of lifestyle you’re comfortable with, you’ll have to assess whether you have the discipline to stick to your new lifestyle.

You’ll need to take an honest look at your own financial discipline before you decide to take on a home loan. It takes a fair amount of discipline to service any home loan, but a home loan debt that substantially increases your monthly expenditures will require a very disciplined approach.

While it’s important to work out a budget based upon the standard of living you’d like to have, sticking to this budget will be the difficult part. If you have a budget and find that you typically overspend, you need to factor this into your assessment when deciding how much to borrow. If financial discipline is difficult for you, leave yourself some leeway in your home loan repayments.

What life changes might be on the horizon?

A budget and an honest assessment of your discipline will give you a good idea of the home loan you can afford right now, but you’ll also want to prepare yourself for the future. Any life changes could impact your ability to repay your home loan. Although some life changes are unforeseeable, you can factor others into your financial plan right now.

If you plan on having children in the next few years, you’ll want to factor this added expense into your calculations. Likewise, if you’re looking at a career change in the medium term, think about the impact this could have on your income.

If you’re borrowing as a single person, you might want to consider the possibility that one day you’ll be repaying your home loan as a couple. Adding another person to the mix can help alleviate some of the financial burden, but keep in mind that you’ll also be adding that person’s debt and expenses to what you need to pay.

You might not be able to predict all of the life changes that could happen during the term of your home loan, but it’s wise to leave yourself some breathing room just in case.

What extra costs will I face?

The expense of a home doesn’t end with a home loan. Before you even move in, you’ll also need to budget for a variety of expenses involved in the home buying process. You’ll likely have to pay stamp duty, legal fees and fees for building and pest inspections. After the home loan settlement, you’ll also have to pay for removalists to help you move into your new home.

There are also ongoing expenses associated with homeownership. In addition to your home loan repayments, you’ll have to factor in home and contents insurance payments, council rates, utilities, maintenance and upkeep. Depending on the type of property you move into, you may also have strata or body corporate fees.

These costs add up and can be a significant monthly expense. When deciding on how much you should borrow, you should keep these ongoing expenses in mind along with your home loan repayment.

Hidden costs of homeownership

Lenders are fairly conservative in their assessment of what you can afford. It doesn’t behove them to lend money that borrowers are unable to repay. But as conservative as they might be, they can’t factor in some of your unique personal circumstances. By taking the time to assess your own lifestyle and financial discipline, you can make sure you don’t take on more than you can afford.

Compare today's home loan rates

$
years
Name Product Interest Rate (p.a.) Comp. Rate (p.a.) Fees Monthly Payment

HSBC Fixed Rate Home Loan Package P&IHome 2Y Fixed≥ 20% Deposit

HSBC Fixed Rate Home Loan Package
1.88%
2.86%
  • App: $0
  • Ongoing: $390 p.a.
$546.6
$3,288 refinance cashback offer
Lock in a low fixed rate for 2 years and buy your home with a 20% deposit. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.

Westpac Fixed Option Home Loan Premier Advantage Package P&IHome 2Y Fixed≥ 5% Deposit

Westpac Fixed Option Home Loan Premier Advantage Package
1.99%
3.48%
  • App: $0
  • Ongoing: $395 p.a.
$554.81
$3,000 refinance cashback
Lock in a low fixed rate for 2 years that allows you to make up to $30,000 in extra repayments and buy your home with a 5% deposit. $3,000 cashback for eligible refinancers. Apply by 31 August 2021. Terms and conditions apply.

St.George Fixed Rate Advantage Package P&IHome 2Y Fixed≥ 20% Deposit

St.George Fixed Rate Advantage Package
1.94%
3.40%
  • App: $0
  • Ongoing: $395 p.a.
$551.07
$3,000 refinance cashback
Borrowers with 20% deposits or equity can get this competitive fixed rate loan. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Other terms, conditions and exclusions apply). Refinancers Only.

UBank UHomeLoan Fixed P&IHome 1Y Fixed≥ 20% Deposit

UBank UHomeLoan Fixed
1.79%
2.32%
  • App: $0
  • Ongoing: $0 p.a.
$539.94
Fix your mortgage for 1 year with a very competitive rate and no ongoing fees.

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

loans.com.au Smart Booster Discount Variable Home Loan
1.85%
2.21%
  • App: $0
  • Ongoing: $0 p.a.
$544.38
Get a low discounted variable rate loan. Requires a 30% deposit. Get your loan processed fast and settle within 30 days.

Athena Variable Home Loan P&IHome≥ 40% Deposit

Athena Variable Home  Loan
1.99%
1.99%
  • App: $0
  • Ongoing: $0 p.a.
$554.81
Owner occupiers with 40% deposits or equity can get this competitive variable rate loan. No upfront or ongoing fees.

Nano Variable Home Loans P&IHome≥ 25% Deposit

Nano Variable Home Loans
1.99%
1.99%
  • App: $0
  • Ongoing: $0 p.a.
$554.81
Refinancers only. Switch to this competitive variable rate with zero fees. Requires a 25% deposit.

Well Home Loans Equity Plus P&IHome≥ 40% Deposit

Well Home Loans Equity Plus
1.87%
1.90%
  • App: $250
  • Ongoing: $0 p.a.
$545.86
Borrowers with 40% deposits or equity can get this low variable rate loan. 100% offset account included.

Suncorp Home Package Plus Fixed P&IHome 2Y Fixed≥ 20% Deposit

Suncorp Home Package Plus Fixed
1.89%
2.85%
  • App: $0
  • Ongoing: $0 p.a.
$547.35
$3,000 refinance cash bonus
Lock in a low fixed rate for 2 years. Available with a 20% deposit. Eligible new borrowers can get the annual package fee reimbursed for the life of the loan. $3,000 refinance cash bonus for eligible borrowers. Other terms, conditions and eligibility criteria apply.

Homestar Star Gold P&IHome≥ 40% Deposit

Homestar Star Gold
1.79%
1.84%
  • App: $395
  • Ongoing: $0 p.a.
$539.94
Refinancers and buyers with 40% deposits can get this very competitive variable rate. It even comes with a 100% offset account.

Virgin Money Reward Me Fixed Rate Home Loan P&IHome 2Y Fixed≥ 20% Deposit

Virgin Money Reward Me Fixed Rate Home Loan
1.98%
2.66%
  • App: $300
  • Ongoing: $10 per month
$554.06
$3,000 refinance cashback.
Buy your home and lock in a low rate for the first two years. Get a $3,000 cashback when you switch to Virgin Money with a loan amount of $300,000 or more with an LVR up to 80%. You must apply by 29 August 2021 and settle by 26 November 2021.

Greater Bank Great Rate Fixed Home Loan P&IHome 1Y Fixed≥ -10% Deposit

Greater Bank Great Rate Fixed Home Loan
1.69%
3.49%
  • App: $0
  • Ongoing: $0 p.a.
$532.6
Get one of the lowest rates on the market with this fixed rate mortgage. NSW, QLD and ACT residents only.

Australian Unity Health, Wealth and Happiness Package Fixed Home Loan P&IHome 3Y Fixed≥ 30% Deposit

Australian Unity Health, Wealth and Happiness Package Fixed Home Loan
1.99%
2.72%
  • App: $0
  • Ongoing: $399 p.a.
$554.81
Home buyers can lock in a low rate for 3 years. Requires a 30% deposit.

Well Home Loans Balanced Fixed Home Loan P&IHome 1Y Fixed≥ 10% Deposit

Well Home Loans Balanced Fixed Home Loan
1.84%
2.01%
  • App: $250
  • Ongoing: $0 p.a.
$543.64
Owner occupiers can get a sharp fixed rate for the first year, plus an offset account. Available with a 10% deposit.

Homestar Star Classic Owner Occupied Fixed Special P&IHome 2Y Fixed≥ 20% Deposit

Homestar Star Classic Owner Occupied Fixed Special
1.79%
2.16%
  • App: $0
  • Ongoing: $395 p.a.
$539.94
Fix to a low rate for two years. Ongoing fee only applies while the rate is fixed. Requires a 20% deposit.

HSBC Home Value Loan P&IHome≥ 30% Deposit

HSBC Home Value Loan
2.19%
2.20%
  • App: $0
  • Ongoing: $0 p.a.
$569.91
$3,288 refinance cashback offer
This competitive variable rate loan is available for borrowers with 30% deposits. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.

IMB Fixed Rate Home Loan P&IHome 3Y Fixed≥ 5% Deposit

IMB Fixed Rate Home Loan
1.97%
2.81%
  • App: $449
  • Ongoing: $6 per month
$553.31
NSW and ACT customers only. 3 years fixed interest terms and free access to redraw facility online. Available with a 10% deposit.

UBank UHomeLoan Fixed P&IHome 3Y Fixed≥ 20% Deposit

UBank UHomeLoan Fixed
1.95%
2.27%
  • App: $0
  • Ongoing: $0 p.a.
$551.82
A competitive fixed rate loan with no ongoing fees. Requires a 20% deposit.

Westpac Flexi First Option Home Loan P&IHome≥ 5% Deposit

Westpac Flexi First Option Home Loan
2.29%
2.72%
  • App: $0
  • Ongoing: $0 per month
$577.55
$3,000 refinance cashback
A flexible and competitive variable rate loan. Available to owner occupiers on principal and interest loans. $3,000 cashback for eligible refinancers. Apply by 31 August 2021. Terms and conditions apply.

St.George Basic Home Loan P&IHome≥ 20% Deposit

St.George Basic Home Loan
2.49%
2.51%
  • App: $0
  • Ongoing: $0 p.a.
$593.01
$3,000 refinance cashback
Get this low-rate variable loan with a 20% deposit and pay $0 application fee. Borrow from $150k (or $250k to be eligible for the cashback offer). Terms, conditions & exclusions apply. Refinancers Only.

Nano Variable Home Loans P&IInvestment≥ 25% Deposit

Nano Variable Home Loans
2.29%
2.29%
  • App: $0
  • Ongoing: $0 p.a.
$577.55
Refinancers only. Investors can refinance this no-fee variable rate loan. You will need a 25% deposit. Fast online approval.

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

homeloans.com.au Low Rate Home Loan with Offset
2.14%
2.16%
  • App: $0
  • Ongoing: $0 p.a.
$566.11
A competitive rate with no application or ongoing fees. This loan is not available for construction.

Bank of Melbourne Advantage Package Fixed Home Loan P&IHome 2Y Fixed≥ 20% Deposit

Bank of Melbourne Advantage Package Fixed Home Loan
1.94%
3.40%
  • App: $0
  • Ongoing: $395 p.a.
$551.07
$3,000 refinance cashback
Get a competitive home loan rate for two years. Requires at least a 20% deposit. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Other terms, conditions and exclusions apply). Refinancers Only.

Macquarie Bank Basic Home Loan P&IHome≥ 40% Deposit

Macquarie Bank Basic Home Loan
2.29%
2.29%
  • App: $0
  • Ongoing: $0 p.a.
$577.55
Apply for the Macquarie Bank Basic Home Loan - LVR ≤ 60% (Owner Occupier, P&I) and get a low variable interest rate, plus no application and ongoing fees. Requires a 40% deposit.

Greater Bank Great Rate Home Loan P&I≥ 40% Deposit

Greater Bank Great Rate Home Loan
2.39%
2.40%
  • App: $0
  • Ongoing: $0 p.a.
$585.25
Discounted special offer. This competitive variable loan requires a 40% deposit.

86 400 Own Home Loan Fixed P&IHome 1Y Fixed≥ 20% Deposit

86 400 Own Home Loan Fixed
1.84%
2.63%
  • App: $250
  • Ongoing: $250 p.a.
$543.64
$2,000 cashback offer
$2,000 cashback when borrowing $250,000 or more. Fix to this very competitive rate for one year. This loan requires a 20% deposit.

Well Home Loans Balanced Fixed Home Loan P&IHome 2Y Fixed≥ 10% Deposit

Well Home Loans Balanced Fixed Home Loan
1.95%
2.02%
  • App: $250
  • Ongoing: $0 p.a.
$551.82
A low fixed mortgage with an optional 100% offset account. Not available for construction purposes.

St.George Fixed Rate Advantage Package P&IInvestment 2Y Fixed≥ 20% Deposit

St.George Fixed Rate Advantage Package
2.24%
3.89%
  • App: $0
  • Ongoing: $395 p.a.
$573.72
$3,000 refinance cashback.
Investors can lock in a competitive rate for two years with this package loan. You will need at least a 20% deposit. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Other terms, conditions and exclusions apply). Refinancers Only.

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

loans.com.au Smart Booster Discount Variable Home Loan
1.99%
2.47%
  • App: $0
  • Ongoing: $0 p.a.
$554.81
Home buyers can get a very low discounted variable rate for the first year. Requires a 20% deposit. Add an offset account for an additional 0.10% on your interest rate. Get your loan processed fast and settle within 30 days.

Well Home Loans Balanced Variable P&IHome≥ 20% Deposit

Well Home Loans Balanced Variable
1.99%
2.02%
  • App: $250
  • Ongoing: $0 p.a.
$554.81
A very low interest rate for home buyers with 20% deposits saved. Add an offset account for a small fee.

Macquarie Bank Basic Fixed Home Loan P&IHome 3Y Fixed≥ 30% Deposit

Macquarie Bank Basic Fixed Home Loan
2.09%
2.28%
  • App: $0
  • Ongoing: $0 p.a.
$562.33
Get a low interest rate and a mortgage with flexible, basic features. No application or ongoing fees. Requires a 30% deposit. Refinancers can switch with a convenient digital application.

Newcastle Permanent Building Society Premium Plus Package Fixed Rate P&IHome 3Y Fixed≥ 20% Deposit

Newcastle Permanent Building Society  Premium Plus Package Fixed Rate
2.09%
3.58%
  • App: $0
  • Ongoing: $395 p.a.
$562.33
$2,000 cashback for eligible refinancers borrowing $250,000 or more.

ME Flexible Home Loan Fixed with Members Package P&IHome 2Y Fixed≥ 20% Deposit

ME Flexible Home Loan Fixed with Members Package
1.89%
3.17%
  • App: $0
  • Ongoing: $395 p.a.
$547.35
$3,000 cashback when refinancing a loan of $250,000 or more. Other conditions apply. Lock in a competitive rate for owner occupiers for two years. Comes with a 100% offset account.

86 400 Neat Variable Home Loan P&IHome≥ 40% Deposit

86 400 Neat Variable Home Loan
2.19%
2.20%
  • App: $0
  • Ongoing: $0 p.a.
$569.91
Get flexibility and the option to make unlimited extra repayments with this variable rate loan.

HSBC Home Value Loan P&IHome≥ 10% Deposit

HSBC Home Value Loan
2.54%
2.55%
  • App: $0
  • Ongoing: $0 p.a.
$596.91
$3,288 refinance cashback offer
A competitive value home loan with no ongoing fee. Eligible refinancers borrowing $250,000 or more can get a $3,288 cashback. Terms and conditions apply.

Well Home Loans Balanced Fixed Home Loan P&IHome 3Y Fixed≥ 10% Deposit

Well Home Loans Balanced Fixed Home Loan
2.14%
2.06%
  • App: $250
  • Ongoing: $0 p.a.
$566.11
A low 3 year fixed rate for home buyers. Add a 100% offset account with a $10 monthly fee. Not available for construction purposes.

Greater Bank Great Rate Fixed Home Loan P&IHome 2Y Fixed≥ 20% Deposit

Greater Bank Great Rate Fixed Home Loan
1.79%
3.35%
  • App: $0
  • Ongoing: $0 p.a.
$539.94
A discounted 2 years fixed rate for home buyers. Available with just a 10% deposit. Guarantor option available. NSW, QLD and ACT residents only.

Nano Variable Home Loans IOHome≥ 25% Deposit

Nano Variable Home Loans
2.49%
2.17%
  • App: $0
  • Ongoing: $0 p.a.
$593.01
Refinancers only. An interest-only loan for refinancing owner-occupiers with 25% deposits or equity. This loan has no fees.

86 400 Own Home Loan Fixed P&IHome 3Y Fixed≥ 20% Deposit

86 400 Own Home Loan Fixed
1.99%
2.58%
  • App: $250
  • Ongoing: $250 p.a.
$554.81
$2,000 cashback offer
A competitive fixed rate loan from an online-only smart bank. Requires a 20% deposit. Eligible new borrowers and refinancers can get a $2,000 cashback for a limited time.

Athena Variable Home Loan P&IHome≥ 30% Deposit

Athena Variable Home  Loan
2.09%
2.02%
  • App: $0
  • Ongoing: $0 p.a.
$562.33
A low variable rate for owner occupiers with 30% deposits. No upfront or ongoing fees.

AMP Bank Professional Package Fixed Loan P&IHome 2Y Fixed≥ 20% Deposit

AMP Bank Professional Package Fixed Loan
1.88%
2.84%
  • App: $0
  • Ongoing: $0 p.a.
$546.6
Get a low fixed rate package with no application or settlement fee. Available with a 20% deposit. Other fees and charges apply.

UBank UHomeLoan Variable Rate P&IHome≥ 20% Deposit

UBank UHomeLoan Variable Rate
2.34%
2.34%
  • App: $0
  • Ongoing: $0 p.a.
$581.39
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.

Great Southern Bank Fixed Rate Home Loan P&IHome 2Y Fixed≥ 5% Deposit

Great Southern Bank Fixed Rate Home Loan
1.89%
4.04%
  • App: $600
  • Ongoing: $0 p.a.
$547.35
Pay no ongoing fees on a fixed rate home loan with flexible repayment options.

Newcastle Permanent Building Society Premium Plus Package Fixed Rate P&IHome 1Y Fixed≥ 5% Deposit

Newcastle Permanent Building Society  Premium Plus Package Fixed Rate
2.19%
3.83%
  • App: $0
  • Ongoing: $395 p.a.
$569.91
$2,000 refinance cashback
Enjoy a competitive rate with no application fee for this package loan. $2,000 cashback for eligible refinancers borrowing $250,000 or more.

Suncorp Back to Basics Home Loan P&IHome≥ 20% Deposit

Suncorp Back to Basics Home Loan
2.44%
2.45%
  • App: $0
  • Ongoing: $0 p.a.
$589.12
A competitive variable interest rate loan with low fees. The establishment fee is waived if you borrow $150,000 or more.

Bank of Melbourne Basic Home Loan P&IHome≥ 20% Deposit

Bank of Melbourne Basic Home Loan
2.49%
2.51%
  • App: $0
  • Ongoing: $0 p.a.
$593.01
$3,000 refinance cashback
A competitive variable rate loan. Refinancers borrowing $250,000 or more can get a $3,000 cashback (Other terms, conditions and exclusions apply). Refinancers Only.

Great Southern Bank Basic Variable P&IHome≥ 20% Deposit

Great Southern Bank Basic Variable
2.49%
2.54%
  • App: $600
  • Ongoing: $0 p.a.
$593.01
A basic variable rate loan with minimal fees and a redraw facility.

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

homeloans.com.au Low Rate Home Loan with Offset
2.24%
2.26%
  • App: $0
  • Ongoing: $0 p.a.
$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.

Heritage Bank Fixed Rate Home Loan P&IHome 2Y Fixed≥ 5% Deposit

Heritage Bank Fixed Rate Home Loan
2.19%
4.23%
  • App: $600
  • Ongoing: $8 per month
$569.91
Get a fixed rate for two years and borrow up to 95%.

IMB Budget Home Loan P&IHome≥ 20% Deposit

IMB Budget Home Loan
2.48%
2.54%
  • App: $449
  • Ongoing: $0 p.a.
$592.23
A competitive variable rate for borrowers with 20% deposits saved. Available for NSW and ACT borrowers only.

Well Home Loans Balanced Fixed Home Loan P&IInvestment 3Y Fixed≥ 10% Deposit

Well Home Loans Balanced Fixed Home Loan
2.34%
2.36%
  • App: $250
  • Ongoing: $0 p.a.
$581.39
A competitive 3 year investor rate with principal and interest repayments. Optional offset account with a $10 monthly fee. Not available for construction purposes.

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

homeloans.com.au Low Rate Home Loan with Offset
2.69%
2.52%
  • App: $0
  • Ongoing: $0 p.a.
$608.71
A competitive rate with no application or ongoing fee. This loan is not available for construction.

UBank UHomeLoan Fixed IOHome 1Y Fixed≥ 20% Deposit

UBank UHomeLoan Fixed
2.14%
2.35%
  • App: $0
  • Ongoing: $0 p.a.
$566.11
A one year fixed rate offer with no ongoing bank fees.

Heritage Bank Discount Variable Home Loan P&IHome≥ 20% Deposit

Heritage Bank Discount Variable Home Loan
2.59%
2.64%
  • App: $600
  • Ongoing: $0 p.a.
$600.83
Family guarantee option available. Enjoy flexible repayments and a low minimum loan amount.

UBank UHomeLoan Fixed P&IInvestment 1Y Fixed≥ 20% Deposit

UBank UHomeLoan Fixed
2.14%
2.71%
  • App: $0
  • Ongoing: $0 p.a.
$566.11
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.

Heritage Bank Advantage Package Fixed P&IHome 1Y Fixed≥ 5% Deposit

Heritage Bank Advantage Package Fixed
2.39%
3.15%
  • App: $0
  • Ongoing: $350 p.a.
$585.25
Get a partial offset account and flexible repayments with this package loan.

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

homeloans.com.au Low Rate Home Loan with Offset
2.59%
2.42%
  • App: $0
  • Ongoing: $0 p.a.
$600.83
This competitive variable rate loan is for investors who want interest-only repayments. You will need a 40% deposit.

Macquarie Bank Offset Home Loan Package P&IHome≥ 40% Deposit

Macquarie Bank Offset Home Loan Package
2.29%
2.57%
  • App: $0
  • Ongoing: $248 p.a.
$577.55
A sharp variable rate with low fees for borrowers with 40% deposits or refinancers with equity in their properties. Refinancers can switch with a convenient digital application.

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

loans.com.au Smart Booster Discount Investor Variable Home Loan
1.99%
2.71%
  • App: $0
  • Ongoing: $0 p.a.
$554.81
If you have an owner occupier loan with loans.com.au you can also get this very low rate variable mortgage for your investment property. Principal and interest repayments. Add an offset account for an additional 0.10% on your interest rate. Get your loan processed fast and settle within 30 days.

homeloans.com.au Low Rate Home Loan with Offset P&IInvestment≥ 10% Deposit

homeloans.com.au Low Rate Home Loan with Offset
2.74%
2.76%
  • App: $0
  • Ongoing: $0 p.a.
$612.67
Access a fee-free offset account and a special interest rate for investors. This loan is not available for construction.

Macquarie Bank Basic Fixed Home Loan P&IHome 3Y Fixed≥ 20% Deposit

Macquarie Bank Basic Fixed Home Loan
2.19%
2.34%