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Some of the best home loans for owner occupiers in July 2021

Some of the best home loans for owner occupiers in July 2021

Recent figures from the Australian Bureau of Statistics (ABS) show that while investor lending has skyrocketed in recent months, the value of owner-occupier lending only saw moderate month-on-month gains. What’s more, the number of owner-occupier first home buyer loans has dropped for the fourth month in a row, while the value of first home buyer lending is up, reflecting Australia’s rising property prices.

First home buyers and other owner occupiers may be able to quickly and easily compare home loans with the help of RateCity’s Leaderboards. By ranking home loans in different categories by their Real Time Ratings™, which combine the cost and flexibility of each deal, borrowers can quickly get a more accurate indication of each loan’s overall value. Home loan deals that consistently rank highly in the Leaderboards also become eligible for RateCity’s Gold Awards.

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 home loans for over $1 million

With many lenders offering record-low interest rates earlier in the year, it’s not surprising that many first home buyers rushed to purchase properties. However, as indicated by the ABS figures, house prices in some popular areas may now be rising beyond the reach of some first home buyers. Depending on where you’re looking to buy, a home loan for $1 million or more may be necessary.

Company
Product

Standard Variable Home Loan

Real Time Rating™

4.87

/ 5

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

Interest Rate

3.08

% p.a

Variable

Comparison Rate*

3.08

% p.a

Repayment

$1,435

monthly

Real Time Rating™

4.87

/ 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™

4.58

/ 5

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

Interest Rate

3.09

% p.a

Variable

Comparison Rate*

3.23

% p.a

Repayment

$1,437

monthly

Real Time Rating™

4.58

/ 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

Star Classic Owner Occupied

Real Time Rating™

4.42

/ 5
Interest Rate

3.90

% p.a

Variable

Comparison Rate*

3.93

% p.a

Repayment

$1,567

monthly

Real Time Rating™

4.42

/ 5
Go to site

Some of the best home loans for refinancing

Current home owners may discover that they have more equity available in their properties than they realise, thanks to rising values. This could give you access to more equity, which may make it easier to qualify for a home loan with a lower interest rate and more flexible features, which could help you get even closer to paying off your property.

Company
Product

Star Gold Home Loan

Real Time Rating™

4.59

/ 5

Winner of Best Refinance Home Loan, RateCity Gold Awards 2022

Interest Rate

3.58

% p.a

Variable

Comparison Rate*

3.58

% p.a

Repayment

$1,515

monthly

Real Time Rating™

4.59

/ 5
Go to site

Winner of Best Refinance Home Loan, RateCity Gold Awards 2022

Company
Product

Freedom Variable

Real Time Rating™

4.80

/ 5
Interest Rate

3.19

% p.a

Variable

Comparison Rate*

3.22

% p.a

Repayment

$1,452

monthly

Real Time Rating™

4.80

/ 5
Go to site
Company
Product

Momentum Home Loan

Real Time Rating™

4.92

/ 5

Winner of Best Refinance Home Loan, RateCity Gold Awards 2022

Interest Rate

3.24

% p.a

Variable

Comparison Rate*

3.26

% p.a

Repayment

$1,460

monthly

Real Time Rating™

4.92

/ 5
Go to site

Winner of Best Refinance Home Loan, RateCity Gold Awards 2022

Company
Product

Rate Cutter Home Loan

Real Time Rating™

4.27

/ 5
Interest Rate

3.79

% p.a

Variable

Comparison Rate*

3.87

% p.a

Repayment

$1,549

monthly

Real Time Rating™

4.27

/ 5
Go to site

Some of the best home loans from large banks

While Australia’s biggest banks have begun raising some of their low fixed interest rates in preparation for a forecast rate rise in 2024 (which could arrive sooner, potentially in 2022), there are still home loans available from large banks that offer low interest rates, flexible features and benefits, or both.

Company
Product

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

Real Time Rating™

4.60

/ 5
Interest Rate

3.37

% p.a

Variable

Comparison Rate*

3.40

% p.a

Repayment

$1,481

monthly

Real Time Rating™

4.60

/ 5
Go to site

Cashback

Receive up to $5,000 cashback for a limited time available for new refinance home loan applications ~ Ends in 22 days
Company
Product

Home Value Loan (Owner Occupied, Principal & Interest)

Real Time Rating™

4.59

/ 5

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

Interest Rate

3.32

% p.a

Variable

Comparison Rate*

3.33

% p.a

Repayment

$1,473

monthly

Real Time Rating™

4.59

/ 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

Basic Home Loan

Real Time Rating™

4.51

/ 5
Interest Rate

3.29

% p.a

Variable

Comparison Rate*

3.31

% p.a

Repayment

$1,468

monthly

Real Time Rating™

4.51

/ 5
Go to site

special

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

Mortgage Simplifier

Real Time Rating™

4.33

/ 5
Interest Rate

3.69

% p.a

Variable

Comparison Rate*

3.72

% p.a

Repayment

$1,533

monthly

Real Time Rating™

4.33

/ 5
Go to site

Cashback

$3000 refinance cashback ~ Ends in about 2 months
Company
Product

Express Home Loan

Real Time Rating™

4.58

/ 5

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

Interest Rate

3.24

% p.a

Variable

Comparison Rate*

3.40

% p.a

Repayment

$1,460

monthly

Real Time Rating™

4.58

/ 5
Go to site

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

Some of the best home loans from new lenders

There are plenty of alternative mortgage lenders competing with the big banks, both in terms of price and service. While some of these lenders, such as online-only digital banks, offer low interest rates and/or fees, they may not offer all of the features and benefits of the bigger banks, such as access to branch networks.

Company
Product

Neat Home Loan

Real Time Rating™

4.34

/ 5
Interest Rate

3.14

% p.a

Variable

Comparison Rate*

3.16

% p.a

Repayment

$1,445

monthly

Real Time Rating™

4.34

/ 5
Go to site
Company
Product

Owner Occupier Accelerates - Celebrate (Principal and Interest)

Real Time Rating™

4.22

/ 5
Interest Rate

3.79

% p.a

Variable

Comparison Rate*

3.79

% p.a

Repayment

$1,549

monthly

Real Time Rating™

4.22

/ 5
Go to site
Company
Product

First Home Loan

Real Time Rating™

4.10

/ 5
Interest Rate

3.99

% p.a

Variable

Comparison Rate*

4.04

% p.a

Repayment

$998

monthly

Real Time Rating™

4.10

/ 5
Go to site
Company
Product

Basic Variable Special Offer Plus

Real Time Rating™

4.13

/ 5
Interest Rate

3.84

% p.a

Variable

Comparison Rate*

5.45

% p.a

Repayment

$1,557

monthly

Real Time Rating™

4.13

/ 5
Go to site

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

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