Compare home loans with no application fees

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. - Last updated on 12 Nov 2019

Compare no application fee home loans

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Home loans with no application fees 

A problem when getting a home loan in Australia can be the cost of actually making an application, let alone affording the monthly mortgage payments when the loan is agreed. You'll always pay some type of fee for a mortgage but an application can cost between $200 and $1000; the charge will depend on the home loan offered. But if you look around you may well be able to find home loans with no application fees. 

What are home loans with no application fees?

Because lenders are in a highly competitive market some do not charge for home loan applications. This can be the case with a number of home loan products: 

  • Package home loans: this type of loan bundles together all your borrowings, including credit cards, and keeps all your banking requirements under one roof. Application and other upfront fees may be waived but you're likely to be charged an annual fee.
  • Special promotions: lenders are always looking to attract new borrowers so may offer a special promotion whereby the usual application fee is waived to get you to sign up.
  • Basic home loans: these often don't have many special features and thus there may be no application fee, and other fees may also be lower.

How do home loans with no application fees compare to other products?

This is where you really need to do your homework. Remember that nothing is ever completely free. You will always pay some kind of fee for your home loan, depending on the kind of features offered with the loan, which could include offset accounts or split rate options. Not paying an application fee means you will have a little more money upfront that you could spend on furnishing your new home, but you should always look at the interest rates charged for this type of product and what other fees, including legal ones, there may be.

What are the main features of home loans with no application fees?

If you are a first time homebuyer and have saved up the appropriate deposit then you'll be looking to cut down as far as possible on your upfront expenses for a home loan. So a home loan without an application fee can be an attractive option. This sort of loan may come with other strings attached, perhaps in the form of a slightly higher than usual interest rate or an annual fee. You should always build these facts into your budgeting to see if you really are getting the best deal in the long term. 

Are there risks to consider?

There are always pros and cons for all types of home loans. For home loans with no application fees you could save many hundreds of dollars in fees at the beginning of your loan and choose from a good number of products that don't charge up front to apply. Bear in mind that you could be charged expensive fees for other items such as a valuation, settling your loan or for legal costs. Make comparisons and weigh up your options before you make a final decision. 


​Nick Bendel is a senior property and personal finance writer for RateCity, and an experienced journalist with numerous writing credits to his name. To date. He covers property, home loans, credit cards, superannuation and other bank products, and loves getting elbow-deep in the latest ABS, APRA and RBA data.​


^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.

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