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Top Home Loans*

Rates and fees last updated on

Compare home loans so you save on your mortgage repayments.

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Top home loans are ones that offer you value in terms of great features, a suitable term and other add-ons that are not found in ordinary mortgages. Unfortunately, because every borrower is different, what's a top home loan for one person might not represent good value for another, so there's no specific home loan which can be considered to be the best compared to all others. This is why it's important to compare all home loans you're interested in to find out what features, fees and interest rates appeal most to you.

A top home loan is more likely to have lower or waived ongoing fees, a competitive interest rate, no annual or monthly fees, and other lucrative perks that make them stand out from the other mortgages that are available.

These home loans will in most cases excel in one area, such as features, rates, or annual fees, as they're targeted to a certain customer need. For instance, some top home loans will allow you to finance more of your home (up to 95%) or give you loyalty discounts or a redraw facility. It is up you to assess your needs and match them to a top home loan that offers the feature or perks you want.

Home loan comparison

Rates last updated July 27th, 2017
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Loan purpose
Offset account
Loan type
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Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
loans.com.au Essentials - Variable (Owner Occupier, P&I)
A basic home loan with a competitive rate and low fees.
3.64% 3.66% $0 $0 p.a. 80% Go to site More info
Greater Bank Ultimate Home Loan - Discounted 1 Year Fixed LVR ≤85% ($150K+ Owner Occupier)
Discount off an already competitive interest rate for loans over $150k. NSW, QLD and ACT residents only.
3.59% 4.48% $0 $375 p.a. 85% Go to site More info
UBank UHomeLoan Variable Rate - Standard Variable Rate Value Offer (Owner Occupier P&I)
Combine a low variable interest rate and free redraw with no application or ongoing fees.
3.74% 3.74% $0 $0 p.a. 80% Go to site More info
3.69% 3.72% $0 $0 p.a. 80% Go to site More info
loans.com.au Offset Variable - Up to 80% LVR (Owner Occupier P&I)
Take advantage of a 100% offset account along with no annual or application fees.
3.72% 3.74% $0 $0 p.a. 80% Go to site More info
NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier P&I) First Home Buyer Special
A special rate for first home buyers buying residential property and borrowing over $150K. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.69% 4.86% $0 $395 p.a. 90% Go to site More info
ING DIRECT Orange Advantage Loan - $150,000+ (LVR <=80% Owner Occupier, P&I)
A fully featured home loan with an offset account and discounts available. $1000 cashback offer available for loans over $300k. Terms and conditions apply.
3.79% 4.11% $0 $299 p.a. 80% Go to site More info
HSBC Home Value Loan - Resident Owner Occupier only
Enjoy a low variable rate with no ongoing fees and borrow up to 90% of the value of the property.
3.85% 3.86% $0 $0 p.a. 90% Go to site More info
Newcastle Permanent Building Society Fixed Rate Home Loan - 2 Year Fixed (Owner Occupier Special Rate, P&I)
Owner-occupiers can lock in a competitive rate with no ongoing fees. Conditions apply.
3.84% 4.86% $0 $0 p.a. 95% Go to site More info
SCU Basic Variable Rate Home Loan
A basic home loan with a low interest rate and a redraw facility available. Take out a new SCU loan and enjoy $500 cash back on loans above $150k, terms and conditions apply.
3.77% 3.81% $200 $0 p.a. 95% Go to site More info
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.
3.88% 4.89% $0 $395 p.a. 95% Go to site More info
ClickLoans The Online Home Loan - Owner Occupier ≤ 80% LVR, P&I
Enjoy a competitive variable interest rate, no application fee, limited annual fees and an offset account with redraws.
3.69% 3.69% $0 $0 p.a. 80% Go to site More info
Greater Bank Great Rate Discount Variable with Family Pledge Home Loan - Up to 110% LVR
Discounted rate available with family pledge loans. Family pledge loans require no LMI and no deposit. NSW, Qld and ACT only.
3.99% 3.99% $0 $0 p.a. 110% Go to site More info
IMB Budget Home Loan - LVR <=90% (Owner Occupier)
Get a competitive rate without features you may not use.
3.97% 4.02% $445 $0 p.a. 90% Go to site More info
Finsure Home Loan Deal
Enjoy a low variable rate with no application fee.
3.69% 4.03% $0 $299 p.a. 80% Enquire now More info

What are the types of top* home loans available?

  • Basic home loans. These home loans are offered to regular borrowers and usually have a small range of features, as well as competitive rates and fees.
  • Low doc home loans. These are loans with flexible document requirements for your application, allowing people with irregular incomes i.e. freelancers, small business owners or casual workers to apply. Unlike regular home loans that require proof of a regular income such as pay slips, a low doc home loan will require simplified credit documentation as long as you can prove that you can make the repayments. Different lenders will have different ways of assessing this.
  • Package home loans. These loans come as a package deal, where your mortgage provider offers added perks on your mortgage deal if you bundle it with other products such as a credit card or a transaction account. These home loans could waived establishment fees, a lowered rate or a facility allowing you to redraw your repayments. They generally come with an annual fee.
  • Bad credit home loans. These loans are targeted at customers with a bad credit history. Specialist mortgage lenders offer such home loans to people with adverse listings on their credit file, making it impossible for them to access financing from non-conforming lenders.
  • Home loans with loyalty discounts. These are home loans that reward loyalty by offering lowered rates or other perks after a certain time frame. Once a customer commits to the mortgage with that lender, the rate may be lowered or other incentives offered to deter them from refinancing with another lender.

How to compare home loans

  • Extra repayments. Most loans will allow you to make additional repayments so you can pay it off sooner. Most fixed rate loans will have fees for making additional repayments or a cap on how many extra repayments you can make in a year during the fixed period. Variable home loans usually allow you to make unlimited extra repayments, so pick a loan that gives you the freedom you want to make repayments according to your present and future financial situation.
  • Interest rates. Whether you go for a fixed rate or variable rate home loan, be sure to keenly compare the rates on different products, as even a small difference could translate into thousands of dollars in savings over the course of the loan.
  • 100% offset account. Among the major features that a variable rate home loan can have, an offset account is one that allows you to link a transaction account to the loan. Your balance can then be used to offset your principal loan amount, enabling you to get a lower interest rate without having to make additional repayments.
  • Redraw facility. A redraw facility can be a great feature on your home loan as it allows you to access the additional repayments already made on the mortgage should you need them.
  • Fees. Compare the upfront and ongoing fees of any loan you're interested in. This includes the application fee, settlement fee and valuation fees charged by the lender, as well as any monthly account fees or annual fees. Also look into whether or not the loan has any fees for features you may use such as redraws or offset accounts.

FAQ about top* home loans

What's a top home loan?

This is a loan with features such as an offset account, lowered interest rates and additional repayments. However, what could be a top loan for you may not be what another customer would want, so what a top home loan is is mostly subjective.

Should I go for a fixed or variable rate home loan?

That will depend on your financial situation and prevailing interest rates. Talking to a mortgage broker about your finances and predicted mortgage rates can help you choose the best type of home loan for you.

Marc Terrano

A passionate publisher who loves to tell a story. Learning and teaching personal finance is his main lot at finder.com.au. Talk to him to find out more about home loans.

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Related Posts

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 ≤85% ($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.

HSBC Home Value Loan - Resident Owner Occupier only

Enjoy a low variable rate with no ongoing fees and borrow up to 90% of the value of the property.

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