Compare mortgage rates from 3.49%

Own your own home sooner with a competitive mortgage

Mortgages are expensive. A tiny difference in the interest rate can save you thousands in the long run. But there's more to getting a good mortgage rate than just looking at the interest.

Read on to learn how to compare lenders and rates to find the mortgage you need. Or you can start comparing loans in the table below.

Compare mortgage rates in the table below

Rates last updated September 25th, 2017
$
Loan purpose
Offset account
Loan type
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.64%
3.66%
$0
$0 p.a.
80%
A basic home loan with a competitive rate and low fees.
3.54%
3.54%
$440
$0 p.a.
80%
Borrow up to 80% LVR with no ongoing fees and a 100% offset account.
3.74%
3.74%
$0
$0 p.a.
80%
Combine a low variable interest rate and free redraw with no application or ongoing fees.
3.64%
3.66%
$0
$0 p.a.
80%
A home loan with a competitive variable rate, limited fees and plenty of flexibility.
3.69%
3.72%
$0
$0 p.a.
80%
A low rate home loan with no ongoing fees.
3.49%
4.47%
$0
$375 p.a.
90%
Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.
3.72%
3.74%
$0
$0 p.a.
80%
Take advantage of a 100% offset account along with no annual or application fees.
3.79%
3.84%
$445
$0 p.a.
90%
A special limited time offer for owner occupiers. An IMB Transaction Account must be opened with this loan.
3.79%
3.92%
$0
$10 monthly ($120 p.a.)
80%
A competitive variable rate home loan with flexible features. You can earn 30,000 Velocity Points for every $100k you borrow (for a limited time, subject to eligibility requirements).
3.86%
3.87%
$0
$0 p.a.
80%
Pay no ongoing fees on a competitive variable rate home loan.
3.69%
4.86%
$0
$395 p.a.
90%
A special rate for first home buyers buying residential property and borrowing over $150K. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.65%
3.66%
$0
$0 p.a.
90%
Enjoy a low variable rate with no ongoing fees and borrow up to 90% of the value of the property.
3.69%
4.15%
$395
$0 p.a.
80%
A one year fixed rate offer with no ongoing bank fees.
3.84%
3.84%
$0
$0 p.a.
110%
Requires a family member to act as guarantor. Discounted rate available with family pledge loans. Family pledge loans require no LMI and no deposit. NSW, Qld and ACT only.
3.79%
4.00%
$0
$10 monthly ($120 p.a.)
90%
Get a competitive interest rate for 3 years and a discounted variable rate when the fixed period ends.
3.74%
4.06%
$0
$299 p.a.
95%
A loan with no application fee and borrow up to 95% LVR.
3.97%
4.02%
$445
$0 p.a.
90%
Get a competitive rate without features you may not use.
3.77%
3.81%
$200
$0 p.a.
95%
A basic home loan with a low interest rate and a redraw facility available.
3.85%
4.10%
$500
$0 p.a.
95%
Apply for Easy Street fixed rate home loans and get a competitive loan with a fixed interest rate.
3.69%
3.75%
$600
$0 p.a.
80%
A low interest rate variable home loan with no ongoing fees.
3.64%
4.83%
$0
$0 p.a.
95%
Owner-occupiers can lock in a competitive rate with no ongoing fees. Conditions apply.
3.84%
3.84%
$0
$0 p.a.
90%
A competitive variable rate with a redraw facility. NSW, QLD and ACT residents only.
3.99%
4.02%
$600
$0 p.a.
90%
Take advantage of a 0.60% discount on your rate, a 100% offset account and no ongoing fees.
3.68%
3.69%
$0
$0 p.a.
80%
A competitive variable rate product with low fees offered by a 100% online lender.
3.74%
3.75%
$0
$0 p.a.
70%
A special variable rate home loan with no application or ongoing fees.
3.97%
3.99%
$0
$0 p.a.
90%
A discounted interest rate home loan with no monthly fees.
3.97%
3.97%
$0
$0 p.a.
80%
A competitive variable rate home loan with no ongoing fees.
3.74%
4.81%
$0
$0 p.a.
95%
Get a competitive 2-year fixed rate with no application or ongoing fees.
3.72%
4.19%
$0
$0 p.a.
80%
Enjoy a variable 3 year introductory rate with the Bankwest Equaliser Home Loan.
3.69%
4.00%
$0
$350 p.a.
95%
Fix your rate for 3 years and borrow up to 95% LVR.
3.88%
4.89%
$0
$395 p.a.
95%
A fixed rate package with flexible repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.99%
4.02%
$395
$0 p.a.
80%
A flexible low-rate variable home loan that lets you combine your loan with other financial products.
3.83%
3.83%
$0
$0 p.a.
70%
A special low variable rate for owner occupiers with 100% offset account and no application or ongoing fees.
3.69%
4.08%
$0
$395 p.a.
90%
A high maximum LVR home loan with redraw facility and additional payments.
3.64%
3.64%
$0
$0 p.a.
70%
A basic low-rate home loan that still offers some useful features.
3.69%
4.45%
$0
$375 p.a.
90%
Discount off an already competitive 2 year fixed rate for loans over $150k. NSW,QLD and ACT residents only.
3.99%
4.77%
$0
$0 p.a.
95%
A competitive 3 year fixed rate with a redraw facility and split loan options, plus no application fee.
3.74%
4.85%
$0
$0 p.a.
95%
Enjoy a low interest rate and borrow up to 95% (with LMI) of your property's value.
3.99%
4.90%
$0
$395 p.a.
95%
Lock in a discounted fixed rate with a low service fee.
4.33%
4.33%
$363
$0 p.a.
70%
A variable home loan with $0 annual or monthly fees.
4.03%
4.07%
$0
$0 p.a.
95%
Enjoy a basic home loan with a high LVR and no application or ongoing fees.
3.85%
4.95%
$0
$395 p.a.
95%
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cashback available for refinancers. Conditions apply.
3.99%
4.99%
$0
$395 p.a.
95%
A package home loan with fee free extra repayments available during the fixed term.
4.39%
5.42%
$300
$10 monthly ($120 p.a.)
95%
Borrow up to and fix in a 3 year home loan rate. Access your account via internet and phone banking.
3.69%
4.03%
$0
$299 p.a.
80%
Enjoy a low variable rate with no application fee.
3.88%
4.47%
$0
$0 p.a.
95%
This competitive introductory rate is a limited time offer for new owner-occupiers
3.68%
3.69%
$600
$0 p.a.
90%
Get a low variable rate along with some important basic features.
3.80%
3.81%
$0
$0 p.a.
95%
A no frills loan with a competitive rate and a maximum LVR of 95%.

Have we missed anything in the comparison table? Tell us

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What can I do to get the best possible rate?

If you want the sharpest home loan interest rate possible, there are a few factors that will put you in a better position.

  • Savings. Most lenders will require proof that you are financially responsible. This means that you are going to have to show that you have some savings. By putting your savings in as a down payment you are also taking on some of the risk, which makes most lenders more comfortable about giving you a loan with a more attractive rate. A good savings history also demonstrates to a lender that you have financial discipline.
  • Good credit history. It's worth checking your credit file before you apply for a home loan so you don't run into any nasty surprises. Generally, a better credit score will improve your chances of being approved for a competitive rate.
  • Know your property and financial goals. Do your research and find out which type of loan is most suited to your needs and what the best type of property is for you. Once you know exactly what you are looking for, it's much easier to find a home loan with an attractive rate.

How do I compare mortgages?

When you're looking for a home loan, make sure you compare products on rates, fees and features.

1. Interest rates

The interest rate is the biggest cost associated with your loan, which is why you really need to shop around to find the best rate in your loan type. Remember, though, that the interest rate isn't the only cost associated with a home loan.

2. Don't forget the fees

When shopping for a home loan, most people tend to focus on the interest rate, and while it is an essential component that needs to be evaluated, it's definitely worth checking out what other fees you might be charged. You need to look at annual fees, exit penalties, mortgage insurance, ongoing account maintenance fees, valuation fees, application fees and more.

3. Look for handy features

You might also want to look into home loans with flexible features, such as offset or redraw accounts, portability or split facilities. All these features can help you take control of your home loan and pay off your mortgage debt quicker, but you should be aware that they often come with fees.

How do different mortgage rates affect my repayments?

Once you start shopping around for a home loan you will discover that there are different types of mortgages available. Before you compare them, it's important you are aware of the most common types of loans, which will enable you to make an informed decision:

Variable rate

Rate decreasingA variable rate loan features an interest rate that can rise or fall depending on market conditions. These loans usually come with lower interest rates than fixed rate loans and more features too.

The problem with a variable rate loan is that a sharp increase in the rate could add to your repayment costs significantly. A drop in interest rates, on the other hand, can make a variable rate loan more affordable.

Fixed rate

Locked icon A fixed rate home loan is one where the interest rate is guaranteed not to change for a set period of time, which usually varies between one and five years. Once the fixed rate period is up, the rate reverts to a variable rate, or your lender may offer the opportunity to fix for another period of time.

These home loans sometimes lack the features and flexibility of variable rate loans but offer certainty that your repayments won't change for the term of the fixed rate.

Split rate

Scissors cutting Split rate mortgages let you divide your loan into fixed and variable portions. You can generally decide on the ratio of the split yourself. For instance, you could allocate 30% of the loan at a variable rate and 70% at a fixed rate.

The benefit in doing this is that you can balance the potential savings of a cheaper variable rate with the greater security of a fixed rate. It really is the best of both worlds.

The comparison rate
Yet another piece of the mortgage rate puzzle, the comparison rate is the interest rate plus the cost of fees that comes with the loan. It's designed to give you a true idea of the cost of a loan. By law, all loans must display a comparison rate alongside their interest rate. But these comparison rates are calculated on a relatively small borrowing amount. Given the growth in Australian property prices it's important to work out the comparison rate based on your actual loan amount.

Crunch the numbers

With a mortgage calculator you can get a clear idea of how an interest rate will affect your repayments. Use the calculator below to determine how the interest rate on a home loan and the amount you borrow determine your repayment costs.

I have a few more questions about getting a better mortgage rate

Non-bank lenders who operate entirely online may offer very competitive mortgage rates. This is partly because they don't own physical bank branches and thus have lower costs. It's also due to fierce competition in the market.

So I should definitely go with an online lender then?

Not necessarily. Again, competition is fierce, so you can still get a great rate with a standard lender. Also, rate isn't everything. Offset accounts, low fees and extra repayment options all affect your final rate. And while many online lenders have loans packed with useful features, there are many that don't. So do your research.

Compare loans from online lenders

In a competitive market there's no point sticking with an uncompetitive rate. Refinancing with a new lender is easier than you think and can save you thousands a year in repayments.

While you need to be aware of the fees you might have to pay for switching, there's nothing stopping you from comparing your options. This is true whether you're two years into your current mortgage or twenty.

Compare loans from online lenders

You can start by reading in-depth reviews on finder.com.au. But there's a lot more you can do.

  • Check out customer reviews and comments online.
  • Speak to your current bank and see what home loans they offer.
  • Talk to people in your life about their experiences with their lenders.

Need some help? A professional mortgage broker can find a home loan for you

The latest property market and mortgage rate news

Bank Australia Basic Home Loan - Variable (Owner Occupier)

Pay no ongoing fees on a competitive variable rate home loan.

NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier P&I)

A fixed rate package with flexible repayment options. 350K NAB Rewards Points offer available. Terms and conditions apply.

Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤90% ($150K+ Owner Occupier)

Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.

IMB Budget Home Loan - LVR <=90% (Owner Occupier)

Get a competitive rate without features you may not use.

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One Response

  1. Staff
    LiezlJune 20, 2017Staff

    Hi Jessica,

    Thanks for your question.

    You can compare interest only home loans on this page. You can click the sorter button to arrange the rates in ascending order.

    Cheers,
    Liezl

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