October’s cheapest owner-occupier home loans

Adam Smith 5 October 2018 NEWS

Rate hikes are beginning to take effect. Now is a great time to look for a better deal on your home loan.

Three of the four major banks announced rate hikes last month, and now those rises have come into effect. Commonwealth Bank's 15 basis point rate hike hit borrowers on 4 October.

Variable rates may be headed skyward, but there are still plenty of good deals available for owner-occupier borrowers. Rates remain historically low, and we've managed to round up 10 fixed rate and 10 variable rate loans, all with rates below 4%. These are the cheapest owner-occupier home loans currently available through the Finder database.

To be certain these loans will help the average borrower, we applied the following criteria:

  • All loans listed are principal and interest loans for owner-occupiers.
  • All loans have a maximum loan to value ratio (LVR) of at least 80%.
  • Each loan has a minimum loan amount of no more than $200,000 and a maximum amount of $500,000 or more.
  • Each fixed rate is for a term of three years.
  • We've excluded line of credit, guarantor and construction loans.
  • Rates are correct as of 4 October 2018.

Check the table below for the cheapest owner-occupier home loans available through finder.com.au.

Compare October 2018’s cheapest owner-occupier home loans at a glance

Rates last updated October 19th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.54%
3.57%
$0
$0 p.a.
80%
A competitive variable essentials rate mortgage targeting first home buyers. Requires a 20% deposit.
3.57%
3.58%
$0
$0 p.a.
80%
Get a very low interest rate and pay fewer fees. Enjoy a fast online application process and add a 100% offset account for $10 a month.
3.59%
3.62%
$0
$350 p.a.
90%
Get a low variable interest rate and buy a property with just a 10% deposit. 100% offset account attached.
3.62%
3.62%
$0
$0 p.a.
95%
A low deposit mortgage with a competitive rate and plenty of flexibility. QLD residents only. Eligible borrowers can get a 15% discount on home and contents insurance for the life of their loan.
3.64%
3.66%
$0
$0 p.a.
80%
A simple mortgage with a competitive interest rate and no application or monthly fees. Borrow up to $2 million from a convenient online lender.
3.59%
3.61%
$0
$0 p.a.
90%
Get a low interest rate loan with no ongoing fees. Plus you can make extra repayments and free redraw online. Available with just a 10% deposit.
3.67%
3.69%
$0
$0 p.a.
80%
Family guarantee option available. Enjoy flexible repayments and a low minimum loan amount.
3.68%
3.70%
$0
$0 p.a.
80%
This loan offers a competitive variable rate and a 100% offset account to help save you on interest repayments.

Compare up to 4 providers

Rates last updated October 19th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.74%
4.01%
$395
$0 p.a.
80%
A competitive fixed interest rate product with no ongoing bank fees.
3.79%
4.65%
$0
$395 p.a.
90%
A two year fixed rate home loan with application fees.
3.79%
4.67%
$0
$349 p.a.
90%
A package home loan with a sharp fixed rate and a 10% deposit option for low deposit borrowers.
3.83%
4.57%
$0
$299 p.a.
95%
Owner-occupiers can enjoy a discounted fixed rate, a rate lock feature and the ability to make additional repayments.
3.83%
4.89%
$0
$395 p.a.
80%
A flexible 3 year fixed rate loan you can use to buy your own home.
3.84%
4.53%
$0
$395 p.a.
90%
Enjoy discounts on banking products and insurance with this package loan. NSW, QLD and ACT residents only.
3.84%
3.82%
$0
$0 p.a.
80%
A fixed rate loan with free redraws, few ongoing fees. Apply online with a fast approval process.
3.85%
4.94%
$0
$8 monthly ($96 p.a.)
95%
Fix your rate and enjoy a partial offset account along with flexible repayments.
3.89%
5.01%
$0
$395 p.a.
95%
Lock in a discounted rate for 3 years and have the option for interest only repayments. $2,000 cashback offer for eligible refinancers.

Compare up to 4 providers

*Our cheapest variable and fixed rate owner-occupier home loans round-up is a monthly article that features 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 cheaper loans on the market than the ones listed here.

Want to compare more options? Check out all our cheapest home loans

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