Compare home loan offers

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. - Data last updated on 17 Jul 2019

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Home loan offers

When you are planning to buy a home, whether it's your first one, or if you need to move to a different area for work or just want to upsize or downsize, the chances are you are going to need a home loan. Home loan offers can be relatively easy to source, provided you can prove that you will be able to afford the repayments, and there are many companies that specialise in these types of offer. A home loan is more than likely the largest loan that you will ever take out in your lifetime, so you want to make sure you get things right from the start.

What are home loan offers?

When you start to explore your financial options for buying a home, you should take the time to research a wide variety of home loan offers. Offers constantly change, sometimes depending on economic circumstances when interest rates may be particularly low and attractive offers can be put forward to new or existing customers, or when a financial company is looking to get more business over a specific period of time. Home loan offers like these don't last forever, but you'll still discover offers made to you for your home loan.

What are the main features of home loan offers?

When you are looking for a home loan offer, there are several options for repayments that you can choose. Examine each one carefully to make sure that it's suitable for you. The three main methods to repay a home loan are:

  • Variable interest rate mortgage: you will start with an agreed interest rate, and your repayments include both the interest on the principal loan and a contribution to paying off the principal. If interest rates go up or down, your lender will usually pass on the rise or cut, in part or in full. Depending on the size of the loan, the time taken to pay everything off can be many years, but at the end you will own the property.
  • Fixed interest rate mortgage: you and the company will agree to fix the interest rate for a specified period, usually between two and ten years. That means you know exactly what you will be paying every month, and when the agreement comes to an end, it may be possible to put another one in place or look for another lender.
  • Split interest rate mortgage: you can negotiate with your lender for a mix of the two previous rates, splitting between variable and fixed.
  • Interest only mortgage: some lenders may offer this option where you just pay the interest on the principal loan, but at the end of the term that principal is outstanding and you have to pay it. Repayments will be cheaper, but you need to build up a fund to pay the principal or be prepared to sell the property and hope to make a profit. House prices generally rise, so you could do well out of it in the end.

FAQs

Real Time RatingsTM looks at your individual home loan requirements and uses this information to rank every applicable home loan in our database out of five.

This score is based on two main factors – cost and flexibility.

Cost is calculated by looking at the interest rates and fees over the first five years of the loan.

Flexibility is based on whether a loan offers features such as an offset account, redraw facility and extra repayments.

Real Time RatingsTM also includes the following assumptions:

  • Costs are calculated on the current variable rate however they could change in the future.
  • Loans are assumed to be principal and interest
  • Fixed-rate loans with terms greater than five years are still assessed on a five-year basis, so 10-year fixed loans are assessed as being only five years’ long.
  • Break costs are not included.
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^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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