Compare top home loan rates^ in Australia

Find home loans that best suit your needs, whether you're investing, refinancing or looking to buy your first home. Compare interest rates, mortgage repayments, fees and more. - Last updated on 11 Dec 2019

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repayment $1415 monthly

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repayment $1404 monthly

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repayment $1375 monthly

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repayment $1446 monthly

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repayment $1421 monthly

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repayment $1452 monthly

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repayment $1406 monthly

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repayment $1495 monthly

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repayment $1460 monthly

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repayment $1421 monthly

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repayment $1443 monthly

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Why you need to compare home loans


Whether you’re a first home buyer or a long-time property investor, one of the first steps you should take before taking out a mortgage is to compare home loans from a range of Australian lenders. 

Buying a home is arguably the most expensive purchase you’ll ever make, so it pays to do your research. This is first and foremost to ensure you choose the most competitive home loan for your financial needs, and don’t end up paying more than you have to

When it comes to home loan comparison, a lot of people fall into the trap of just looking at the interest rate. 

However, there are several components of a home loan that can influence how much you’ll pay, including:

  • The loan amount
  • The interest rate
  • The loan type (fixed rate, variable rate or split rate loan)
  • What type of borrower you are (owner-occupier or investor)
  • The features (redraw facility, extra repayments, offset accounts etc.)
  • The fees (upfront fees, ongoing fees etc. 

You shouldn’t need a law degree to understand the fine print of a home loan and make your choice. This is where home loan comparison rates come in. 

What is a comparison rate?

A comparison rate is a combination of the loan’s interest rate with its fees and other charges, such as ongoing monthly or yearly fees and upfront fees. 

The comparison rate will combine these fees with the interest rate and then create an average rate for the loan, based on a pre-set loan amount and loan term. 

How to compare home loans 

  1. Comparison tables & tools

One of the best ways to compare home loans in Australia is by utilising home loan comparison tools. These include interest rate comparison tables, mortgage repayment calculators, Lenders Mortgage Insurance (LMI) calculators and stamp duty calculators. allows you to easily compare home loans through its easy to navigate comparison tables. Search for and compare home loan interest rates from over 100 Australian lenders, and use the filtering system to narrow down your options to find a loan that suits your specific financial needs. 

You can then click on one or more loans and select ‘Compare’ to see how the loan stacks up against the big four banks and/or any other loans you may be interested in. 

  1. Comparison rates

When it comes to mortgage comparison, you shouldn’t only look at the advertised interest rate. Once you’ve narrowed down a selection of home loans thanks to the comparison tools, you can use the comparison rate as a starting-off guide to calculate your potential mortgage repayments with’s mortgage repayment calculator, and measure this against your budget. 

This is one of the more effective ways to compare home loan interest rates as comparison rates give you a more realistic interest rate for what your total costs will be, and allows you to budget your expenses and repayments much more effectively. 

For example

Nick wants to borrow $350,000 for a 30-year home loan and he can afford up to $1,600 a month on mortgage repayments. By using the comparison tools, he found a home loan with an interest rate of 3.50 per cent. He then used a mortgage repayment calculator and found his monthly repayments will be $1,572.  

As a rule of thumb, you should avoid paying more than 30 per cent of your income on your mortgage, or risk entering into mortgage stress. 

  1. Look at the features and flexibility

The lowest interest rate isn’t necessarily the most important thing to consider when comparing home loans. If you’re desperate for a home loan with features such as an offset account, there’s no point just looking at the comparison rate. You need to choose a loan that actually suits your financial needs and offers those features.’s comparison tables allow you to easily view a home loan product’s features, so you can compare what is on offer and level of flexibility in the home loan. 

Home Loans 101 

 What are the best home loan comparison rates in Australia? 

There are a range of factors that you need to consider when comparing home loans, and the best home loan for one person may not necessarily be the best for another. 

While there is no one ‘best’ home loan on the market, you can utilise home loan comparison tools, mortgage repayment calculators, as well as home loan guides to make the most educated decision around what is the best home loan for you. 

It is important that you don’t just look at the comparison rate when choosing your home loan. These are the questions you should ask yourself when comparing your home loan options to find the most competitive mortgage for you: 

  • What is the length of the loan?
  • What will my repayments be?
  • Is the rate fixed, variable or split?
  • Can I make additional repayments?
  • What fees have or haven’t been included in my calculations?
  • Will my mortgage repayments be more than 30 per cent of my pre-tax income? 

What home loan features are available? 


There are a range of helpful home loan features that allow you to have the most flexibility in your mortgage, including:

Home Loan Feature


Additional repayments

Allows you to lower your total interest and shortens the length of your loan. Some fees may apply.

Interest only repayments

Allows you to pay only for the interest on your home loan first, to reduce mortgage repayments in the short term. Will prevent you from growing equity or making a dent in your principal repayments.

Introductory rate

Lower rate offered to new customers to entice them into joining. This will revert to a higher interest rate once this introductory period is over.

Line of credit

Lets you access the equity in your current home to use for a holiday, renovations etc.

Lump sum repayments

Your lender will allow you to make ad-hoc bulk repayments towards your mortgage (useful if you get a large tax return, or come into some money). 

Offset account

A transaction account linked to your home loan where the balance of the transaction account is offset against the unpaid balance of your loan, to reduce the amount of interest payable. Can involve higher interest rates.

Mortgage portability

You can transfer your loan from your current home to a different property, sometimes reducing fees (establishment fees etc.)

Redraw facility

Allows you to access extra payments you’ve made towards the mortgage by using the equity in your home as security to borrow money. The more money you put into a redraw facility, the less you’ll pay on your home loan.

Split loan

For when you can’t decide whether to have a fixed or variable home loan – split it 50/50. 

What home loan fees could I be charged

There are a range of fees that lenders may charge that you should consider when comparing home loans, as they will impact your overall mortgage cost. These include:

  1. Application fee/up-front cost
  2. Ongoing fee
  3. Additional repayment fee
  4. Late payment fee
  5. Break costs and exit fees
  6. Mortgage discharge fee
  7. Redraw facility
  8. Re-fix fee
  9. Switching fee
  10. Portability fee
  11. Lenders Mortgage Insurance (LMI)
  12. Stamp duty 

Home loan comparison calculator’s home loan comparison calculators can help you to work out which mortgage is best for your financial needs and budget. 

The simple to use mortgage tool allows you to search via comparison rate, view your estimated monthly repayments for that loan, and learn which features the loan does or does not include. 


Alex is a personal finance writer and PR professional at RateCity, and has been writing about finance for three years. She is passionate on topics such as gender pay and superannuation gap, and committed to helping young Aussies manage their finances better. Before RateCity, Alex spent time as an editor for magazines and has seen her work published in numerous print and online outlets.

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