Lowest monthly mortgage rates for August 2019
Every month at Finder we analyse the mortgages in our database to find the home loans with the lowest interest rates.*
Our selection criteria ensure that the loans listed here are relevant for the majority of Australian borrowers. The rates on this page meet the following criteria:
- Principal and interest loans have a maximum LVR of 80%, meaning you need a 20% deposit (or lower in some cases).
- Mortgages have a minimum loan amount of $200,000 or lower and a maximum loan amount of at least $500,000 (meaning that most borrowers will have a loan size that qualifies for the product).
- Owner occupier fixed rates have a 3 year term (we've picked any year for fixed investor rates due to a smaller set of products available).
- Mortgages are currently available on Finder with rates correct at time of publication (updated at the start of every month).
Compare some of the market's lowest fixed and variable rates for homebuyers and investors in August 2019
|Lowest variable rate||Interest rate||Comparison rate|
|Reduce Home Loans Low Rider Variable||2.89% p.a.||2.89% p.a.|
|Homestar Star Essentials Home Loan - $200k+ (Owner Occupier, P&I)||2.99% p.a.||3.02% p.a.|
|loans.com.au Smart Home Loan (Owner Occupier, P&I)||3.03% p.a.||3.05% p.a.|
|Freedom Lend Variable Home Loan - LVR <=80% (Owner Occupier, P&I)||3.04% p.a.||3.04% p.a.|
|Tic:Toc Live in Loan Variable Rate - Principal & Interest||2.99% p.a.||3.13% p.a.|
|UBank UHomeLoan Variable Rate - Discount offer for Owner Occupiers, P&I Borrowing over $200,000||3.09% p.a.||3.09% p.a.|
|Mortgage House Advantage Home Loan - 80 (PAYG Essentials)||3.09% p.a.||3.12% p.a.|
|State Custodians Low Rate Home Loan with Offset - LVR up to 80% (Owner Occupier, P&I)||3.15% p.a.||3.17% p.a.|
|ING Mortgage Simplifier Home Loan - $150,000 to $500,000 (LVR <=80% Owner Occupier, P&I)||3.18% p.a.||3.21% p.a.|
|CUA Achieve Variable Home Loan - Special Offer (Owner Occupier, P&I)||3.18% p.a.||3.23% p.a.|
|Lowest fixed investor rate||Interest rate||Comparison rate|
|RACQ Bank Choices Package Fixed Loan - 3 Year $150k+ (Investor)||3.09% p.a.||4.66% p.a.|
|UBank UHomeLoan - 3 Year Fixed Rate (Investor, P&I)||3.14% p.a.||3.85% p.a.|
|Greater Bank Ultimate Home Loan - 1 Year Fixed (Investor) P&I||3.29% p.a.||4.54% p.a.|
|Bank of Melbourne Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier, P&I) LVR above 80% New customers||3.29% p.a.||4.8% p.a.|
|Tic:Toc Invest Fixed Rate Home Loan - 2 Year Fixed (Principal & Interest)||3.09% p.a.||3.44% p.a.|
|Auswide Bank Fixed Home Loan Plus with Freedom Package - 3 Years Fixed $100K+ LVR <= 90% Special Offer (Investor, P&I)||3.39% p.a.||4.62% p.a.|
|IMB Fixed Rate Home Loan - 3 Years Fixed (LVR ≤90% Investor, P&I, NSW and ACT borrowers only)||3.49% p.a.||4.61% p.a.|
|Lowest variable investor rate||Interest rate||Comparison rate|
|Reduce Rate Lovers Variable Home Loan - LVR up to 80% (Investor)||3.29% p.a.||3.29% p.a.|
|Freedom Lend Variable Home Loan - Special offer LVR <= 80% ≥ $50,000 (Investor, P&I)||3.34% p.a.||3.34% p.a.|
|State Custodians Low Rate Home Loan with Offset - LVR up to 80% (Investor, P&I)||3.4% p.a.||3.42% p.a.|
|Gateway Bank Low Rate Essentials Variable Rate Home Loan - LVR up to 80% (Investor P&I)||3.47% p.a.||3.49% p.a.|
|UBank UHomeLoan Variable Rate -Discount Offer for Investor Variable P&I Rate||3.49% p.a.||3.49% p.a.|
|Athena Variable Home Loan - Refinance (Investor, P&I)||3.49% p.a.||3.45% p.a.|
|CUA Achieve Variable Home Loan - Special Offer (Investor, P&I)||3.49% p.a.||3.54% p.a.|
|Teachers Mutual Bank Classic Home Loan - Investor||3.5% p.a.||3.54% p.a.|
|Tic:Toc Invest Loan Variable Rate Home Loan - Principal & Interest||3.35% p.a.||3.48% p.a.|
|Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR<=90% Incl. LMI (Investor, P&I)||3.59% p.a.||3.6% p.a.|
*Our lowest variable and fixed rate home loans round-up is a monthly analysis of the cheapest loans in finder.com.au's database. The rates and other information in this page are correct at the time of publication and are subject to change. There may be lower rates on the market than the ones listed here.
Finder's low interest rate tracker
Rates change (even when they're fixed). But with this graph you can see the lowest rates on Finder each month. This helps you understand how rates fluctuate and also helps you consider whether a fixed or variable rate is a better option for you.
Find more information about home loan rates and statistics
What if I've already got a mortgage but my rate is really high?
Most Australians borrowers don't check their mortgage rates. And that means you could be paying thousands of extra dollars in interest every year – for no reason at all.
But while your mortgage is a debt you're stuck with for a long time, you can easily switch lenders. Simply find a lower rate, make sure the mortgage suits your needs and you're eligible for it then apply (you'll need financial and identification documents, of course). If your new lender accepts your application, they will handle the changeover with your new lender. And for a few hours' work, you've saved yourself a chunk of money.
Learn how to refinance to a cheaper rate and start saving on your mortgage repayments.
Compare and apply for a range of competitive mortgage offers below
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Home Loan OffersImportant Information*
Take advantage of a low-fee mortgage with a special interest rate of just 3.09% p.a. and a 3.09% p.a. comparison rate.
Low variable rate mortgage for owner occupiers looking to switch. Refinancers only.
Newcastle Permanent Building Society Premium Plus Package Home Loan - New Customer Offer Discount 1 ($150k+ Owner Occupier, P&I)
New borrowers or refinancers can get a discounted rate with this package loan.
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