Online Home Loans Standard Variable Home Loan

With a competitive rate and no ongoing fees, the Online Home Loans Standard Variable Home Loan is worth a closer look.

If you’re hunting for a home loan that combines the flexibility of a variable rate with the added bonus of no ongoing fees, the Online Home Loans Standard Variable Home Loan has been designed with you in mind. The loan combines a competitive interest rate with no monthly or annual fees, and has a host of features to help you pay off your debt as quickly as possible. Additional repayments are allowed and can be accessed through a free redraw facility, while a 100% offset account is included to keep your interest payments down.

Interest Rate Max Insured LVR Max LVR
4.04% p.a.
Comparison Rate
4.05% p.a.
95% 95%
Owner occupier
3.64% p.a.
Comparison Rate
3.65% p.a.
95% 95%
Product NameOnline Home Loans Standard Variable
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$50,000
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
Fixed Interest OptionNo
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$0 p.a.
Settlement Fee$0
Discharge Fee$308
Early Termination Fee$608


  • No account keeping fees.
  • 100% offset account.


  • There is application fee of $275.
  • A $308 discharge fee applies when you pay off your home loan.

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 Standard Variable Home Loan

The Online Home Loans Standard Variable Home Loan is available for the purchase of residential property, including both owner-occupier and investment properties. A full-doc loan, it features a maximum LVR of 95%.

Repayments are principal and interest as standard, but an interest-only option is also available to suit investment borrowers. A loan split facility allows up to six free splits for extra flexibility, while the free redraw facility ensures you can access your addition payments if you ever experience a cash-flow shortage.

Features of the Online Home Loans Standard Variable Home Loan

The Online Home Loans Standard Variable Home Loan combines a competitive variable interest rate with a range of other features, including:

  • Maximum LVR. The Online Home Loans Standard Variable Home Loan has a maximum LVR of 95%. However, some borrowers are limited to an LVR of 95%. Owner-occupiers who borrow more than 95% LVR should also remember that they will need to cover the additional cost of lenders mortgage insurance (LMI).
  • Loan amount. This loan allows you to borrow amounts between $50,000 and $1,500,000.
  • Loan term. The Online Home Loans Standard Variable Home Loan has a minimum loan term of 15 years and a maximum loan term of 30 years.
  • No ongoing fees. There are no ongoing monthly or annual fees attached to this loan, allowing you to put all of your hard-earned money towards paying off your debt.
  • Repayment options. You can choose from a weekly, fortnightly or monthly repayment schedule to suit your income and budget.
  • Unlimited additional repayments. Additional repayments are also allowed, giving you the ability to pay off your debt ahead of schedule and reduce interest charges. However, an early termination fee applies when you pay your loan off early.
  • Free redraw facility. If you make additional repayments towards your loan, you can access those funds through the loan’s redraw facility at any time. There is no fee for using the facility and you can submit redraw requests online or over the phone. The minimum redraw is $100, and the maximum is $20,000.
  • 100% mortgage offset account. A 100% mortgage offset account is a standard inclusion with the Online Home Loans Standard Variable Home Loan. By maintaining a balance in this account, you can keep your interest payments to a minimum.


  • Application fee: $275. This fee covers the administrative costs associated with setting up your loan.
  • Discharge fee: $308. You will need to pay this exit fee once you have paid off your loan.
  • Early termination fee: $608. Although unlimited additional repayments are allowed, you’ll need to pay this fee if you pay your loan off early.

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

If the Online Home Loans Standard Variable Home Loan has all the features you’re looking for in a loan, click on one of the “Apply now” links on this page. You’ll be redirected to the Online Home Loans website, where you can find out more about the benefits and conditions of the loan and start the application process.

Before applying, check whether you meet the following eligibility requirements:

  • Age. Only people 18 years of age or older can apply.
  • Residency. You must be a permanent Australian resident.
  • Loan purpose. The Online Home Loans Standard Variable Home Loan must be used to purchase residential property for an owner-occupier or investor.

During the application process, the lender will request a range of personal details in order to determine your ability to service the loan. You will need to provide.

  • Personal details. Provide your name, address, date of birth and contact details.
  • Proof of ID. Valid photo ID such as a driver’s licence or passport is required.
  • Income details. You will need to supply details of your employment and evidence of the income you earn.
  • Assets and liabilities. If you have outstanding debts or you own assets such as shares or property, you’ll need to disclose these in your application.
  • Property details. Finally, provide information about the property you want to buy.

The Online Home Loans Standard Variable Home Loan provides flexible features and a competitive variable rate. Compare it with other variable-rate home loans before deciding on the best mortgage for you.

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Online Home Loans Standard Variable

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $275 / $0

  • Max LVR


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