September’s cheapest owner-occupier home loans

Adam Smith 6 September 2018 NEWS

With interest rates heading skywards, now is the time to look for a better deal.

After weeks of prognostication about rising funding costs and the likelihood of rate hikes, Westpac recently became the first of the major banks to move on variable interest rates. The bank lifted its rates by 0.14%, a move the other majors are likely to follow.

While the Reserve Bank looks set to keep the official cash rate on hold for the medium term, lenders aren't content to follow the RBA's inaction. But rising rates mean it's a great time to check out your home loan and see if there's a better deal.

We've looked through finder's database and put together September's cheapest loans for owner-occupiers. We've separated them into variable and fixed rate loans. If you want the flexibility of a variable rate loan, there are products here for you. Likewise, if you prefer to safeguard against rising rates, there are plenty of attractive fixed rates on offer. 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 6 September 2018.

Check the table below for the cheapest owner-occupier home loans available through finder.com.au. With rates on the rise, there's no better time to look for a better deal.

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

Rates last updated September 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%
3.58%
$0
$0 p.a.
80%
Get a competitive rate, save on fees and access a 100% offset account plus redraw facility. $900 cashback offer.
3.58%
3.59%
$0
$395 p.a.
80%
Annual package fee waiver for the life of the loan. Available for property purchases and refinances in Sydney, Melbourne or Adelaide metro postcodes.
3.98%
3.99%
$600
$0 p.a.
95%
Get a 1% discount for the first two years of your loan and pay no application or ongoing fees.
3.59%
3.59%
$0
$0 p.a.
80%
Enjoy flexible repayments, a redraw facility and the ability to split your loan. Plus, pay no application or ongoing fees.
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.
3.64%
3.65%
$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.
3.64%
3.66%
$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.

Compare up to 4 providers

Rates last updated September 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.
3.74%
4.63%
$0
$395 p.a.
90%
A two year fixed rate home loan with application fees.
3.79%
4.78%
$0
$375 p.a.
90%
Pay no upfront fees or monthly fees on Suncorp Bank Personal Loans when you opt for the Home Package Plus.
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.
3.84%
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.
3.85%
4.98%
$600
$395 p.a.
95%
A package home loan with no application fee. Borrow up to 95%.
3.88%
5.01%
$600
$0 p.a.
95%
Lock in your interest rate for 3 years and use the 100% offset to save on this interest.

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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