Online Home Loans Horizon Variable Home Loan

Combining a competitive variable interest rate with an offset account, the Online Home Loans Horizon Variable Home Loan offers a solid option for borrowers who want to save on their home loan.

The Horizon Variable offers a competitive variable interest rate, and also features a free redraw facility and a 100% mortgage offset account.

Interest Rate Max Insured LVR Max LVR
Variable (Investor)
3.69% p.a.
Comparison Rate
4.00% p.a.
95% 95%
Variable (Owner occupier)
3.44% p.a.
Comparison Rate
3.76% p.a.
95% 95%
Product NameOnline Home Loans Horizon
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Amount$1,500,000
Minimum Loan Term15 years
Maximum Loan Term30 years
Maximum LVR95%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditYes
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$275
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$299 p.a.
Settlement Fee$0
Discharge Fee$308
Early Termination Fee$608


  • 100% offset account attached.
  • High maximum loan amount.


  • Application fee of $275.
  • $308 discharge fee when you close your loan accounts.

Who is Online Home Loans?

Online Home Loans is a challenger brand backed by leading non-bank lender Resimac. Because Online Home Loans is web-based and doesn't have physical branches, it has lower overheads and can pass on competitive rates to you.

Details to consider about the Online Home Loans Horizon Variable Home Loan

The Horizon Variable Home Loan is an online-only home loan available for owner-occupier homebuyers and those looking to purchase an investment property. Although it is offered with a variable interest rate, there is also the option to lock in a fixed rate on a portion of your loan for up to three years.

Additional repayments are allowed on variable rate loans and can be accessed through a free redraw facility, while a 100% mortgage offset account is also included to help you keep your interest payments to a minimum.

Features of the Online Home Loans Horizon Variable Home Loan

The Online Home Loans Horizon Variable Home Loan offers a long list of features to Australian home loan borrowers, including:

  • Maximum LVR. The Online Home Loans Horizon Variable Home Loan has a maximum LVR of 95%, allowing borrowers with a 5% deposit to qualify for finance. Note however that borrowing over 95% may attract different rates. However, remember that if you borrow more than 95% LVR then you will need to budget for the extra cost of lenders mortgage insurance (LMI).
  • Loan term. This mortgage is available with loan terms ranging from 15 years to 30 years.
  • Loan amount. The Online Home Loans Horizon Variable Home Loan is available to borrowers who wish to borrow more than $150,000. The maximum loan amount is $1,500,000.
  • Repayment options. You can choose to make loan repayments on a weekly, fortnightly or monthly basis.
  • Additional repayments allowed. If you have a variable rate loan, you have the freedom to make additional repayments to pay down your loan sooner. However, keep in mind that paying your mortgage off ahead of schedule will result in an early termination fee being charged.
  • Free redraw facility. You can access your additional repayments at any time through the Horizon Variable’s free redraw facility. Redraw requests can be lodged via phone or Internet banking and you can access anywhere between $100 and $20,000.
  • 100% mortgage offset account. A 100% mortgage offset account is included with the Online Home Loans Horizon Variable Home Loan to help you reduce the amount of interest payable on your loan.
  • Fixed rate option. If you would also like to take advantage of the benefits of a fixed interest rate, you can lock in a fixed rate for three years on a portion of your loan amount.


  • Application fee: $275. This fee is payable when you apply for a loan and covers the administrative costs associated with preparing loan documents.
  • Annual service fee: $299. This fee is charged to your loan account once a year.
  • Discharge fee: $308. This exit fee is charged when you pay off your loan.
  • Early termination fee: $608. You’ll need to pay this fee if you pay your loan off ahead of schedule.

How to apply for the Online Home Loans Horizon Variable Home Loan

If you like the sound of the features of the Online Home Loans Horizon Variable Home Loan and you think it could be the right loan for you, click on one of the “Apply now” links on this page. This will securely redirect you to the lender’s website, where you can read the terms and conditions attached to the loan and begin an online application.

Before you can apply, you’ll need to make sure you meet the following eligibility requirements:

  • Age. You’ll need to be at least 18 years of age.
  • Residency. Only permanent Australian residents can apply.
  • Loan purpose. You must use the funds you borrow to purchase an owner-occupied residential property or residential investment property. This loan is not available for construction purposes.

You’ll also need to supply a range of details during the application process so that the lender can determine your borrowing capacity and ability to repay the loan. You will need to provide.

  • Proof of ID. For example, a driver’s licence or passport.
  • Income details. The lender will require information about your employment and income, including recent pay slips and bank statements.
  • Assets and liabilities. Next, provide details of any assets you own (shares, properties etc) and any outstanding debts you have.
  • Property details. You will also need to include details about the property you plan to purchase.

If you’re in the market for a flexible variable rate loan with plenty of features, give the Online Home Loans Horizon Variable Home Loan a look. Make sure to compare it with other variable rate loans at before deciding whether it’s right for your needs.

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Online Home Loans Horizon

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $275 / $299

  • Max LVR


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