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Updated on 18 May, 2022

2022 RateCity Home Loan Gold Awards Winners

Finding Australia's best Home Loans has just been made easier. Select a category below and discover the loans that have received a coveted RateCity Gold Award.

Best variable home loans
Company Product Real Time Rating™ Go to site

Standard Variable Home Loan

Standard Variable Home Loan

4.81 / 5

Live-in Variable (With Offset)

Live-in Variable (With Offset)

4.68 / 5

Economizer

Economizer

4.62 / 5

Well Balanced

Well Balanced

4.53 / 5

Momentum Home Loan

Momentum Home Loan

4.45 / 5

Freedom Variable

Freedom Variable

4.4 / 5

Star Essentials Home Loan

Star Essentials Home Loan

4.34 / 5

Chameleon Executive Home Loan

Chameleon Executive Home Loan

4.34 / 5

Express Home Loan

Express Home Loan

4.31 / 5

Better Special Variable Loan

Better Special Variable Loan

4.3 / 5

Low Rate Home Loan - Prime (Owner Occupied) (Principal and Interest)

Low Rate Home Loan - Prime (Owner Occupied) (Principal and Interest)

4.28 / 5

Yard Home Loan (Special)

Yard Home Loan (Special)

4.16 / 5

Best refinance home loans
Company Product Real Time Rating™ Go to site

Standard Variable Home Loan

Standard Variable Home Loan

4.92 / 5

Freedom Variable

Freedom Variable

4.9 / 5

Star Gold Home Loan

Star Gold Home Loan

4.87 / 5

Well Balanced

Well Balanced

4.78 / 5

Economizer

Economizer

4.75 / 5

Momentum Home Loan

Momentum Home Loan

4.73 / 5

Live-in Variable (With Offset)

Live-in Variable (With Offset)

4.68 / 5

Dream Value Home Loan

Dream Value Home Loan

4.65 / 5

Ocean Owner Occupied Variable (No Annual Fee)

Ocean Owner Occupied Variable (No Annual Fee)

4.63 / 5

Home Value Loan (Owner Occupied, Principal & Interest)

Home Value Loan (Owner Occupied, Principal & Interest)

4.61 / 5

Low Rate Home Loan - Prime (Owner Occupied) (Principal and Interest)

Low Rate Home Loan - Prime (Owner Occupied) (Principal and Interest)

4.49 / 5

Best 3-year fixed home loans
Company Product Real Time Rating™ Go to site

myBlue Home Loan (Fixed Rate) (Principal and Interest)

myBlue Home Loan (Fixed Rate) (Principal and Interest)

4.03 / 5

Package

Package

3.87 / 5

Well Balanced

Well Balanced

3.85 / 5

Fixed Home Loan

Fixed Home Loan

3.75 / 5

Live-in Fixed

Live-in Fixed

3.68 / 5

Freedom Fixed

Freedom Fixed

3.55 / 5

FlexiDiscount Home Loan

FlexiDiscount Home Loan

3.54 / 5

Great Rate

Great Rate

3.52 / 5

Home Owners Dream Fixed

Home Owners Dream Fixed

3.5 / 5

3 Year Fixed (Owner Occupied Principal & Interest)

3 Year Fixed (Owner Occupied Principal & Interest)

3.45 / 5

Best 5-year fixed home loans
Company Product Real Time Rating™ Go to site

Premium Home Loan Package

Premium Home Loan Package

2.91 / 5

Fixed Rate Home Loan

Fixed Rate Home Loan

2.8 / 5

Package

Package

2.8 / 5

Freedom Fixed

Freedom Fixed

2.68 / 5

Home Loan Package

Home Loan Package

2.57 / 5

Fixed Rate

Fixed Rate

2.52 / 5

Fixed Rate Home Loan

Fixed Rate Home Loan

2.48 / 5

Premier Package Home Loan

Premier Package Home Loan

2.42 / 5

See all categories

How does RateCity determine the Gold Award winners?

Over 6600 products and variations were analysed and compared from a variety of lenders and providers, and only the top ten percent were deemed winners.

The RateCity Home Loan awards celebrate lenders who consistently offer competitive mortgages to Australian consumers.

The awards are based on our market-leading Real Time Ratings™ system which gives every mortgage in our database a score out of five, based on cost and flexibility.

Importantly, these scores are calculated every day, capturing product changes as they happen – a factor that is missed by some awards programs.

Methodology for Home Loans 2022 Gold Awards
How are Real Time Ratings™ calculated

How RateCity Leaderboards work

We’ve built these leaderboards to help you quickly see what are the top banking products in each of the key categories.

What is a home loan?

A home loan is a finance product that allows a home buyer to borrow a large sum of money from a lender for the purchase of a residential property. The home is then put up as "security" or "collateral" on the loan, giving the lender the right to repossess the property in the case that the borrower fails to repay their loan.

Once you take out a home loan, you'll need to repay the amount borrowed, plus interest, in regular instalments over a predetermined period of time.

The interest you're charged on each mortgage repayment is based on your remaining loan amount, also known as your loan principal. The rate at which interest is charged on your home loan principal is expressed as a percentage.

Different home loan products charge different interest rates and fees, and offer a range of different features to suit a variety of buyers’ needs.

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

What is the ME bank home loan approval time?

To start the process of getting a loan with ME bank, you can fill out the online application form. You’ll have to provide information about your income details, assets and liabilities, and the property you want to buy.

Generally, the pre-approval of your loan application can happen within four hours, and in some instances, it may take up to two weeks. It’s important to remember this is only conditional approval.

If you make an offer and the seller accepts it, you’ll need to wait for the cooling-off period, which varies from two to five days depending on where you live. After that, it can take between six and eight weeks after contracts have been exchanged for your application for unconditional approval to be processed.

What do people do with a Macquarie Bank reverse?

There are a number of ways people use a Macquarie Bank reverse mortgage. Below are some reasons borrowers tend to release their home’s equity via a reverse mortgage:

  • To top up superannuation or pension income to pay for monthly bills;
  • To consolidate and repay high-interest debt like credit cards or personal loans;
  • To fund renovations, repairs or upgrades to their home
  • To help your children or grandkids through financial difficulties. 

While there are no limitations on how you can use a Macquarie reverse mortgage loan, a reverse mortgage is not right for all borrowers. Reverse mortgages compound the interest, which means you end up paying interest on your interest. They can also affect your entitlement to things like the pension It’s important to think carefully, read up and speak with your family before you apply for a reverse mortgage.

What is the ANZ home loan settlement process?

Settlement is the procedure for the official transfer of ownership between the seller and buyer. It’s often done without the seller or buyers input but between both parties’ the financial and legal representatives.

Here is how the ANZ home loan settlement process works:

  1. The solicitor or conveyancer prepares the Transfer of Land document at least two weeks before the settlement date.
  2. The signed document is registered at the state or territory land registry office.
  3. Your solicitor or conveyancer will connect with the ANZ home loan settlement contact and the seller’s solicitor or conveyancer to finalise the date, time, and place of settlement.
  4. You must deposit any applicable amount into your ANZ account three days before the settlement date.
  5. After the settlement is completed, your solicitor or conveyancer will send you a Statement of Adjustment confirming the disbursal of funds from your home loan amongst the involved parties.