Compare Home loans in Melbourne

Find home loans from a wide range of Australian lenders 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.

Compare Home loans in Melbourne

Advantage Investment Loan Special ($150k+)
Advertised rate
3.99%
Variable
Comparison rate*
4.02%
Monthly repayment
$1,192
Real Time Rating™

4.11 / 5

Compare
Premium Plus Package Variable Rate Home Loan Special (Principal and Interest) (LVR < 95%)SpecialIncludes a discounted rate off the Premium Plus Package Variable Rate Tier 4 home loan when meeting certain eligibility requirements.
Advertised rate
3.64%
Variable
Comparison rate*
4.03%
Monthly repayment
$1,142
Real Time Rating™

4.59 / 5

Compare
My Life Fixed Rate Package 2 Years
Advertised rate
3.69%
Fixed - 2 years
Comparison rate*
4.04%
Monthly repayment
$1,149
Real Time Rating™

3.9 / 5

Compare
My Life Fixed Rate Package 3 Years
Advertised rate
3.85%
Fixed - 3 years
Comparison rate*
4.05%
Monthly repayment
$1,172
Real Time Rating™

3.88 / 5

Compare
Essential Home Loan ($100k+)SpecialStandard Establishment fee of $350 and Settlement fee of $250 waived
Advertised rate
4.04%
Variable
Comparison rate*
4.07%
Monthly repayment
$1,199
Real Time Rating™

3.91 / 5

Compare
OMG Investment Loan (Principal and Interest)
Advertised rate
4.04%
Variable
Comparison rate*
4.08%
Monthly repayment
$1,199
Real Time Rating™

3.77 / 5

Compare
UHomeLoan Fixed (Principal and Interest) 5 Years
Advertised rate
4.09%
Fixed - 5 years
Comparison rate*
4.10%
Monthly repayment
$1,207
Real Time Rating™

3.27 / 5

Compare
UHomeLoan - Standard Variable (Principal and Interest)
Advertised rate
4.17%
Variable
Comparison rate*
4.10%
Monthly repayment
$1,218
Real Time Rating™

3.78 / 5

Compare
Complete Variable Home Loan (Principal and Interest) (New Customer) ($200k+, LVR < 90%)
Advertised rate
3.70%
Variable
Comparison rate*
4.13%
Monthly repayment
$1,151
Real Time Rating™

4.67 / 5

Compare
UHomeLoan Fixed (Interest Only) 1 Year
Advertised rate
3.59%
Fixed - 1 year
Comparison rate*
4.14%
Monthly repayment
$1,135
Real Time Rating™

3.24 / 5

Compare
UHomeLoan Fixed (Principal and Interest) 1 Year
Advertised rate
3.59%
Fixed - 1 year
Comparison rate*
4.14%
Monthly repayment
$1,135
Real Time Rating™

3.33 / 5

Compare
UHomeLoan - Standard Variable (Interest Only)
Advertised rate
4.46%
Variable
Comparison rate*
4.39%
Monthly repayment
$1,261
Real Time Rating™

3.17 / 5

Compare
Inv UHomeLoan Fixed 3 Years
Advertised rate
3.99%
Fixed - 3 years
Comparison rate*
4.44%
Monthly repayment
$1,192
Real Time Rating™

3.16 / 5

Compare
Professional Package Home Loan (Principal and Interest) ($250k-$500k)
Advertised rate
4.07%
Variable
Comparison rate*
4.45%
Monthly repayment
$1,204
Real Time Rating™

4.01 / 5

Compare
Inv UHomeLoan Fixed 5 Years
Advertised rate
4.49%
Fixed - 5 years
Comparison rate*
4.56%
Monthly repayment
$1,265
Real Time Rating™

2.85 / 5

Compare
Inv UHomeLoan Variable
Advertised rate
4.66%
Variable
Comparison rate*
4.59%
Monthly repayment
$1,291
Real Time Rating™

3.24 / 5

Compare
Inv UHomeLoan Fixed 1 Year
Advertised rate
3.99%
Fixed - 1 year
Comparison rate*
4.62%
Monthly repayment
$1,192
Real Time Rating™

2.81 / 5

Compare
Real Deal Variable Home Loan (Principal and Interest) (Introductory)
Advertised rate
4.40%
Intro 36 months
Comparison rate*
4.62%
Monthly repayment
$1,289
Real Time Rating™

3.53 / 5

Compare
Discount Variable Home Loan
Advertised rate
4.64%
Variable
Comparison rate*
4.69%
Monthly repayment
$1,288
Real Time Rating™

3.15 / 5

Compare
Extra Investment Loan (Interest Only)
Advertised rate
5.18%
Variable
Comparison rate*
4.75%
Monthly repayment
$1,370
Real Time Rating™

2.53 / 5

Compare
Advertisement

Home loans in Melbourne

Comparable only to Sydney, Melbourne is one of the most in demand and popular cities in Australia. The city CBD is a hub of culture, business and industry, with many national and international organisations and companies based there. The property market can be daunting, with increasing property prices and a minimal amount of properties on offer. 

What do I need to know about Melbourne?

The CBD of Melbourne - which naturally has the highest demand for properties in the city - is located around the natural bay of Port Phillip. The city is one of the country’s cultural capitals with contemporary art, dance, theatre, film and television industries being based there. The city is also well known for its changeable weather conditions, with strong winds, heavy rain and hail events. Melbourne is regarded as a highly liveable city with a well-designed attractive centre.  

What is the property market like in Melbourne?

Properties are always in high demand in Melbourne. Prices for properties are growing, with affordability and shortage of supply a problem for people wanting to live in the city. The affordability issues increase the closer you move to the Melbourne CBD.

Due to the city’s location on a natural bay, there is also a shortage of land for large developments and residential housing. There are also a larger proportion of units, apartments and townhouses in the city, with these types of properties being more affordable that detached houses. Rental properties are in high demand with steadily increasing rents.  

What is the difference between home loans in Melbourne and other major cities in Australia?

 The property market and home loan sector is regulated by the Australian Government on a national basis, therefore the process is similar when getting a home loan in Melbourne as in the other state capitals and major metropolitan centres. It is perhaps easier to access a wide variety of home loan providers in Melbourne than in some other smaller Australian towns and cities. Because of the high demand for property you will need to organise your home loan quickly, otherwise a property you want to purchase could be snapped up by another buyer.

What do I need to know about getting a home loan in Melbourne?

The home loan process in Melbourne is similar to other states with the usual stamp duty and land taxes charged by the Victorian state government. If you are looking to purchase land or to make major renovations to a property these areas are governed by the Melbourne City Council. There are many building codes, restrictions and regulations that apply when building or renovating a property in this city. In addition, application fees are also charged and should be budgeted for when applying for a home loan. It can often be beneficial to employ an agent or advisor when considering purchasing a property or making major renovations to a property as this could decrease costs and avoid legal issues. 

Advertisement
Call RateCity 1300 001 153

^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.

Compare your product with the big 4 banks, or add more products to compare
As seen on