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™ 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™ | Go to site | Winner of Best Green Home Loan, RateCity Gold Awards 2022 |
Company | Product Standard Variable Home Loan Real Time Rating™ 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™ | 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™ 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™ | 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™ 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™ | 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™ 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™ | Go to site | Winner of Best 3 Year Fixed Pi Home Loan, RateCity Gold Awards 2022 |
Company | Product Well Balanced Real Time Rating™ 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™ | Go to site | Winner of Best 3 Year Fixed Pi Home Loan, RateCity Gold Awards 2022 |
Company | Product Live-in Fixed Real Time Rating™ 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™ | Go to site | Winner of Best 3 Year Fixed Pi Home Loan, RateCity Gold Awards 2022 |
Company | Product Freedom Fixed Real Time Rating™ | Interest Rate 6.99 % p.a Fixed - 3 years | Comparison Rate* 3.54 % p.a | Repayment $2,118 monthly | Real Time Rating™ | 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™ | Interest Rate 2.89 % p.a Variable | Comparison Rate* 2.91 % p.a | Repayment $1,406 monthly | Real Time Rating™ | 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™ 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™ | Go to site | Cashback Receive $3,288 when you refinance min of $250kWinner of Best Large Bank Home Loan, RateCity Gold Awards 2022 |
Company | Product Mortgage Simplifier Real Time Rating™ | Interest Rate 2.84 % p.a Variable | Comparison Rate* 2.87 % p.a | Repayment $1,398 monthly | Real Time Rating™ | Go to site | |
Company | Product Express Home Loan Real Time Rating™ 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™ | 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™ | Interest Rate 2.87 % p.a Variable | Comparison Rate* 2.90 % p.a | Repayment $1,402 monthly | Real Time Rating™ | 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™ | Interest Rate 2.64 % p.a Variable | Comparison Rate* 2.66 % p.a | Repayment $1,367 monthly | Real Time Rating™ | Go to site | |
Company | Product First Home Loan Real Time Rating™ | Interest Rate 2.99 % p.a Variable | Comparison Rate* 3.04 % p.a | Repayment $748 monthly | Real Time Rating™ | Go to site | |
Company | Product Basic Variable Special Offer Plus Real Time Rating™ | Interest Rate 2.34 % p.a Variable | Comparison Rate* 3.83 % p.a | Repayment $1,322 monthly | Real Time Rating™ | Go to site | |
Company | Product Neat Home Loan Real Time Rating™ | Interest Rate 2.64 % p.a Variable | Comparison Rate* 2.65 % p.a | Repayment $1,367 monthly | Real Time Rating™ | Go to site |
