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Some of the top-rated home loans for investors and refinancers in December 2023

Mark Bristow avatar
Mark Bristow
- 2 min read
Some of the top-rated home loans for investors and refinancers in December 2023

The cumulative effect of 13 cash rate hikes from the Reserve Bank of Australia (RBA) since May 2022 may be helping to tackle inflation, so it can hopefully fall into the RBA’s target band by 2025 on schedule. But in the meantime, many Australian homeowners and investors are doing it tough, thanks to higher home loan interest rates and banks hiking rates out of cycle from the RBA.

A recent report found that around one in five Australian investors are considering selling a property in 2024 due to the recent rate hikes. Furthermore, higher average rates for interest-only home loans make it harder for investors to manage their costs.

Both investors and owner-occupiers looking to refinance may want to think about more than just the interest rate when comparing alternative home loans. Mortgage features, benefits fees and charges can all play a role in delivering the best value for money to borrowers in different financial situations.

For example, in December 2023 there are 14 mortgage lenders offering cashback deals, which could potentially help to offset some of the switching costs when refinancing a home loan. But because most of these cashback offers require borrowers to fulfill specific eligibility criteria, they may not be the best choice for every home owner or investor looking for an alternative mortgage deal. 

RateCity’s Real Time Ratings™ can be a helpful tool for borrowers comparing different mortgage deals, as each star rating combines a loan’s cost with its flexibility, and is regularly updated to help maintain their accuracy. Top-rated home loans in different categories can be found on RateCity’s Home Loan Leaderboards for quick and simple comparison, and the top-ranked products may become eligible for a RateCity Gold Award.

(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 top-rated refinance home loans

Today’s top-rated home loans for refinancing. Assumes a $400,000 mortgage with a variable interest rate for an owner occupier.

Some of the top-rated 2-year interest-only investor home loans

RateCity's top-rated interest-only investor home loans. Assumes a $400,000 mortgage with a maximum LVR of 80%, paying interest only at a fixed rate for a two year term.

Some of the top-rated investor variable home loans

RateCity's top-rated investment home loans with variable interest rates. Assumes a $400,000 mortgage and a maximum LVR of 80%.

Compare home loans in Australia

Product database updated 23 Jul, 2024

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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