Compare cheap home loans

Compare mortgages and calculate mortgage repayments

Compare cheap home loans

Promoted
Budget Home Loan Special (Principal and Interest) (NSW and ACT only)SpecialSpecial discounted rate for new owner occupier, principal and interest loans of $75k+. IMB transaction account must be opened with this loan.
Advertised rate
3.69%
Variable
Comparison rate*
3.69%
Monthly repayment
$1,149
Real Time Rating™

4.83 / 5

Compare
Promoted
Discount Variable Investment Loan (Principal and Interest) (LVR<80%)
Advertised rate
4.44%
Variable
Comparison rate*
4.49%
Monthly repayment
$1,258
Real Time Rating™

3.51 / 5

Compare
Promoted
Discount Offer Variable Home Loan ($200k-$700k)RewardsGet $1,000 cash into a USaver account when you apply for a loan of $200,000 or more (new or refinance). T&Cs apply.
Advertised rate
3.69%
Variable
Comparison rate*
3.69%
Monthly repayment
$1,149
Real Time Rating™

4.78 / 5

Compare
Variable Rate Home Loan (Principal and Interest) (Amounts < $750k, LVR 70%-80%)Cashback$900 cashback after your settlement
Advertised rate
3.54%
Variable
Comparison rate*
3.58%
Monthly repayment
$1,128
Real Time Rating™

4.9 / 5

Compare
Mortgage Saver Special Home Loan (QLD only)SpecialPlus 15% off Home & Contents Insurance for the life of the loan with Home Plus. T&Cs apply. QLD Residents only.
Advertised rate
3.62%
Variable
Comparison rate*
3.62%
Monthly repayment
$1,139
Real Time Rating™

4.8 / 5

Compare
Basic Home Loan Special (LVR < 80%)SpecialEstablishment fee waived for Variable Basic Home Loans until 30 September 2018
Advertised rate
3.65%
Variable
Comparison rate*
3.66%
Monthly repayment
$1,144
Real Time Rating™

4.8 / 5

Compare
Advantage Home Loan (PAYG Special No Offset) (LVR<80%)
Advertised rate
3.64%
Variable
Comparison rate*
3.67%
Monthly repayment
$1,142
Real Time Rating™

4.78 / 5

Compare
Low Rate Home Loan with Offset (Principal and Interest) (LVR < 80%)
Advertised rate
3.64%
Variable
Comparison rate*
3.67%
Monthly repayment
$1,142
Real Time Rating™

4.88 / 5

Compare
First Rate Home Loan (LVR < 80%)
Advertised rate
3.64%
Variable
Comparison rate*
3.69%
Monthly repayment
$1,142
Real Time Rating™

4.77 / 5

Compare
Select Basic Home Loan (Principal and Interest) (Amounts < $500k, LVR < 80%)
Advertised rate
3.69%
Variable
Comparison rate*
3.70%
Monthly repayment
$1,149
Real Time Rating™

4.71 / 5

Compare
Premier Standard Variable Home LoanSpecialAvailable on new Premier home loan borrowings from $50,000 when applying by 31 July 2018
Advertised rate
3.69%
Variable
Comparison rate*
3.70%
Monthly repayment
$1,149
Real Time Rating™

4.59 / 5

Compare
Special Low Variable Rate Home Loan (LVR < 80%)
Advertised rate
3.79%
Variable
Comparison rate*
3.79%
Monthly repayment
$1,163
Real Time Rating™

4.65 / 5

Compare
Basic Variable Rate Home Loan
Advertised rate
3.77%
Variable
Comparison rate*
3.81%
Monthly repayment
$1,161
Real Time Rating™

4.53 / 5

Compare
First Home Buyer Loan - 40 Year Term
Advertised rate
3.77%
Variable
Comparison rate*
3.81%
Monthly repayment
$1,161
Real Time Rating™

4.53 / 5

Compare
OMG Home Loan (Principal and Interest)
Advertised rate
3.79%
Variable
Comparison rate*
3.83%
Monthly repayment
$1,163
Real Time Rating™

4.55 / 5

Compare
Low Rate Home Loan with Offset (Principal and Interest) (LVR 80%-90%)
Advertised rate
3.84%
Variable
Comparison rate*
3.87%
Monthly repayment
$1,171
Real Time Rating™

4.61 / 5

Compare
Basic Home Loan (LVR < 80%)SpecialEstablishment fee waived for Variable Basic Home Loans until 30 September 2018
Advertised rate
3.86%
Variable
Comparison rate*
3.87%
Monthly repayment
$1,173
Real Time Rating™

4.54 / 5

Compare
Rate Buster High Lend Variable Investment Loan (Principal and Interest)CashbackCashback Offer: $750 for loans under $500,000 or $1,500 for loans over $500,000
Advertised rate
3.89%
Variable
Comparison rate*
3.89%
Monthly repayment
$1,178
Real Time Rating™

4.53 / 5

Compare
Discount Offer for Investor Variable P&I RateRewards$1000 offer: Apply for a UHomeLoan of $200,000 or more (excl amounts to refinance a UBank loan) by 6 Aug 2018, & settle by 28 Sept 2018. You must have a USaver before settlement and until the $1000 is paid. Other T&C apply.
Advertised rate
3.99%
Variable
Comparison rate*
3.99%
Monthly repayment
$1,192
Real Time Rating™

4.34 / 5

Compare
IQ Basic Investment Loan (Principal and Interest) (LVR < 70%)
Advertised rate
3.99%
Variable
Comparison rate*
4.00%
Monthly repayment
$1,192
Real Time Rating™

4.26 / 5

Compare
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Compare some of the cheapest home loans in Australia across both standard and variable interest rate loans. When looking for a cheap home loan, make sure you look at every factor that makes up an affordable home loan, from interest rates to upfront fees.

Remember, just because a home loan has the lowest rate, it doesn’t necessarily make it the cheapest. A good way of checking is to look at the comparison rate which factors in most of the fees a home loan product might include. You may find it’s just as expensive in the long-run.

What makes a cheap home loan?

Remember, just because a home loan has the lowest rate, it doesn’t necessarily make it the cheapest. A good way of checking is to look at the comparison rate which factors in most of the fees a home loan product might include. You may find it’s just as expensive in the long-run.

What if I have a bad credit history?

Cheap home loans with bad credit history can be challenging to find. If you find yourself in this situation, spend some time building up your credit history, or look at lenders who specialise in non-conforming loans or low-doc loans.

A cheap mortgage can be hard to come by but if you spend some time comparing the options you will find something that fits your budget and saves you money. Beware that you will often be charged a higher interest rate as you will be considered a risk by the lending institution.

What are some other important features of a loan?

There are also multiple other features of a home loan to consider before you settle on one purely based on a low interest rate or cheap fees. Features such as an offset account might include a monthly fee, but if you are going to use it regularly it could ultimately end up saving you $1000’s.

Other examples of features you should be comparing are redraw facilities and the ability to make extra repayments on both a regular and irregular basis. What will really make your home loan a cheap home loan is paying down the principal as much as possible and as soon as possible.

As interest on home loans is compounded daily the amount that you repay and the frequency that you repay it will significantly reduce not only the principal amount but the interest you are yet to pay.

Read more handy hints on how to save money on a cheap home loan

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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