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Some of the best home loans in August 2021

Some of the best home loans in August 2021

With lockdowns in parts of New South Wales, Victoria, South Australia and Queensland, banks large and small have been extending relief packages to affected home loan customers, offering mortgage repayment deferrals and more.

At the same time, big bank NAB has forecast double digit growth in capital city house prices next year. First home buyers could struggle with these higher prices, though NAB also predicts these capital city gains to cut in half by 2022.

Even though the record-low fixed rates of the past few months have started to disappear, there are still a range of mortgage deals available to suit different types of borrowers. Here are some of the top-rated home loans on RateCity, based on their Real Time Ratings™:

Rankings are correct at the time of publishing. Please note lenders may trade places on the list as interest rates and fees change and RateCity’s tracker reflects these movements.

Some of the best variable home loans over $1 million

With NAB forecasting increased property prices in the future, borrowers wanting to purchase property in Australia’s capital cities may be more likely to want a home loan for borrowing a balance of $1 million or more.

Company
Product

Green Home Loan

Real Time Rating™

2.76

/ 5

Winner of Best Green Home Loan, RateCity Gold Awards 2022

Interest Rate

2.63

% p.a

Variable

Comparison Rate*

3.05

% p.a

Repayment

$1,366

monthly

Real Time Rating™

2.76

/ 5
Go to site

Winner of Best Green Home Loan, RateCity Gold Awards 2022

Company
Product

Standard Variable Home Loan

Real Time Rating™

4.44

/ 5

Winner of Best Home Loans Over 1m, Best Variable Home Loan, RateCity Gold Awards 2022

Interest Rate

2.04

% p.a

Variable

Comparison Rate*

2.04

% p.a

Repayment

$1,277

monthly

Real Time Rating™

4.44

/ 5
Go to site

Winner of Best Home Loans Over 1m, Best Variable Home Loan, RateCity Gold Awards 2022

Company
Product

Live-in Variable (With Offset)

Real Time Rating™

2.77

/ 5

Winner of Best Home Loans Over 1m, Best Refinance Home Loan, Best Variable Home Loan, RateCity Gold Awards 2022

Interest Rate

2.59

% p.a

Variable

Comparison Rate*

2.73

% p.a

Repayment

$1,359

monthly

Real Time Rating™

2.77

/ 5
Go to site

special

Rate Match Guarantee. Tic:Toc will match the rate on identical variable P&I home loans. T&C's Apply.

Winner of Best Home Loans Over 1m, Best Refinance Home Loan, Best Variable Home Loan, RateCity Gold Awards 2022

Company
Product

Momentum Home Loan

Real Time Rating™

2.58

/ 5

Winner of Best Home Loans Over 1m, Best Variable Home Loan, RateCity Gold Awards 2022

Interest Rate

2.84

% p.a

Variable

Comparison Rate*

2.86

% p.a

Repayment

$1,398

monthly

Real Time Rating™

2.58

/ 5
Go to site

Winner of Best Home Loans Over 1m, Best Variable Home Loan, RateCity Gold Awards 2022

Some of the best 3-year fixed home loans

Borrowers wanting to lock in a low interest rate may find it harder to find rate under 2 per cent these days, but there are still low-rate options available for borrowers who fulfil the eligibility criteria.

Company
Product

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

Real Time Rating™

1.25

/ 5

Winner of Best 3 Year Fixed Pi Home Loan, RateCity Gold Awards 2022

Interest Rate

4.65

% p.a

Fixed - 3 years

Comparison Rate*

3.30

% p.a

Repayment

$1,693

monthly

Real Time Rating™

1.25

/ 5
Go to site

Winner of Best 3 Year Fixed Pi Home Loan, RateCity Gold Awards 2022

Company
Product

Well Balanced

Real Time Rating™

0.93

/ 5

Winner of Best 3 Year Fixed Pi Home Loan, RateCity Gold Awards 2022

Interest Rate

4.64

% p.a

Fixed - 3 years

Comparison Rate*

3.15

% p.a

Repayment

$1,691

monthly

Real Time Rating™

0.93

/ 5
Go to site

Winner of Best 3 Year Fixed Pi Home Loan, RateCity Gold Awards 2022

Company
Product

Live-in Fixed

Real Time Rating™

0.74

/ 5

Winner of Best 3 Year Fixed Pi Home Loan, RateCity Gold Awards 2022

Interest Rate

4.66

% p.a

Fixed - 3 years

Comparison Rate*

3.16

% p.a

Repayment

$1,695

monthly

Real Time Rating™

0.74

/ 5
Go to site

Winner of Best 3 Year Fixed Pi Home Loan, RateCity Gold Awards 2022

Company
Product

Freedom Fixed

Real Time Rating™

0.99

/ 5
Interest Rate

6.99

% p.a

Fixed - 3 years

Comparison Rate*

3.54

% p.a

Repayment

$2,118

monthly

Real Time Rating™

0.99

/ 5
Go to site

Some of the best home loans from large banks

Australia’s major mortgage lenders are often able to offer tempting home loan deals, sometimes including special offers such as waived fees or cashback to help attract your business.

Company
Product

Basic Home Loan

Real Time Rating™

2.02

/ 5
Interest Rate

2.89

% p.a

Variable

Comparison Rate*

2.91

% p.a

Repayment

$1,406

monthly

Real Time Rating™

2.02

/ 5
Go to site

special

Establishment fee waived on Basic Home Loans of $150k+
Company
Product

Home Value Loan (Owner Occupied, Principal & Interest)

Real Time Rating™

3.29

/ 5

Winner of Best Large Bank Home Loan, RateCity Gold Awards 2022

Interest Rate

2.62

% p.a

Variable

Comparison Rate*

2.63

% p.a

Repayment

$1,364

monthly

Real Time Rating™

3.29

/ 5
Go to site

Cashback

Receive $3,288 when you refinance min of $250k

Winner of Best Large Bank Home Loan, RateCity Gold Awards 2022

Company
Product

Mortgage Simplifier

Real Time Rating™

2.07

/ 5
Interest Rate

2.84

% p.a

Variable

Comparison Rate*

2.87

% p.a

Repayment

$1,398

monthly

Real Time Rating™

2.07

/ 5
Go to site
Company
Product

Express Home Loan

Real Time Rating™

2.39

/ 5

Winner of Best Home Loans Over 1m, Best Large Bank Home Loan, Best Variable Home Loan, RateCity Gold Awards 2022

Interest Rate

2.74

% p.a

Variable

Comparison Rate*

2.91

% p.a

Repayment

$1,382

monthly

Real Time Rating™

2.39

/ 5
Go to site

Winner of Best Home Loans Over 1m, Best Large Bank Home Loan, Best Variable Home Loan, RateCity Gold Awards 2022

Company
Product

AMP Bank Essential Home Loan (> $100k) (LVR < 80%)

Real Time Rating™

2.55

/ 5
Interest Rate

2.87

% p.a

Variable

Comparison Rate*

2.90

% p.a

Repayment

$1,402

monthly

Real Time Rating™

2.55

/ 5
Go to site

Cashback

$3000 cashback for customers purchasing a new home with AMP Bank ~ Ends in 6 days

Some of the best home loans from new lenders

Home loan offers from smaller mortgage lenders, including online-only lenders, may be able to compete with the bigger banks.

Company
Product

Owner Occupier Accelerates - Celebrate (Principal and Interest)

Real Time Rating™

2.68

/ 5
Interest Rate

2.64

% p.a

Variable

Comparison Rate*

2.66

% p.a

Repayment

$1,367

monthly

Real Time Rating™

2.68

/ 5
Go to site
Company
Product

First Home Loan

Real Time Rating™

1.86

/ 5
Interest Rate

2.99

% p.a

Variable

Comparison Rate*

3.04

% p.a

Repayment

$748

monthly

Real Time Rating™

1.86

/ 5
Go to site
Company
Product

Basic Variable Special Offer Plus

Real Time Rating™

3.27

/ 5
Interest Rate

2.34

% p.a

Variable

Comparison Rate*

3.83

% p.a

Repayment

$1,322

monthly

Real Time Rating™

3.27

/ 5
Go to site
Company
Product

Neat Home Loan

Real Time Rating™

2.27

/ 5
Interest Rate

2.64

% p.a

Variable

Comparison Rate*

2.65

% p.a

Repayment

$1,367

monthly

Real Time Rating™

2.27

/ 5
Go to site

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This article was reviewed by Personal Finance Editor Georgia Brown before it was published as part of RateCity's Fact Check process.

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