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Save on your home loan with our nifty comparison tools. Pick a winner from our most popular home loans in the table below, or search the whole market to compare all home loans with ease. Read more...

With interest rates falling it’s a great time to get your first home loan or refinance your existing mortgage at a lower rate. Finding the right loan can be daunting, but Mozo is here to guide you through the home loan maze.

Our mortgage database allows you to compare home loans rates and fees with ease, and covers hundreds of loans including fixed rate loans, variable rate loans and more. You can also get the inside story on everything from customer service to hidden fees with home loan reviews by the Mozo community.

Home loan comparison

Our nifty comparison tools let you quickly filter and compare home loans according to the features you want, such as extra repayments, free redraw and offset accounts.

Once you have shortlisted the best home loans for your needs, you can compare your chosen loans side-by-side and enquire online at the lender’s website.

Finding the right home loan

Before you compare home loans, it helps to work out whether you need a loan with all the bells and whistles, or are simply after a low rate home loan with no frills.

Not all cheap home loans offer flexible features like the ability to make extra repayments and unlimited redraw. To avoid getting stuck with a loan that isn’t right for your needs, be sure to check features as well as rates and fees when you compare home loans.

Fixed rate or variable rate?

When interest rates are low, you might consider locking in all or part of your loan at a fixed interest rate. Fixed rate loans ensure that your monthly repayments remain the same for an agreed period, regardless of whether interest rates go up or down during that time.

There are some fixed rate traps to be aware of when you compare home loans. For instance most fixed rate loans do not let you make extra repayments, and many impose huge break costs should you decide to switch to a variable rate or another lender before the fixed term is up.

A split loan is a way to get the best of both worlds by fixing the rate on part of your mortgage, while keeping the rest at a variable rate and enjoying the flexibility that comes with it.

	Intro rate	Variable rate	Comparison rate*	Key features
Homestar Advantage Loan		5.88%	5.89%	No fee loan from the non-bank lender of the year.	Go to site
State Custodians Standard Variable	5.64%	5.64%	5.90%	Mortgage funds are supported by the Aust. Government's $8bn RMBS package	Go to site
MyRate.com.au Advantage Loan		5.88%	5.88%	No fee home loans. Securely funded by ING Bank (Australia) Ltd.	Go to site
RAMS Rate Relief	5.58%	6.28%	6.21%	Get an immediate discount off the standard variable rate for the first 2 years	Go to site
Aussie Classic Line of Credit		6.33%	6.52%	The Aussie Classic Line of Credit Loan is a way to unlock equity in your home. The flexibility of a transaction account built into your home loan.	Go to site
*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for $150,000 over 25 years, and applies only to this example. Fixed rate loans assume a 3 year fixed term. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may inﬂuence the cost of the loan.

	Variable rate	Comparison rate*	Key features
Homestar Advantage Loan	5.88%	5.89%	No fee loan from the non-bank lender of the year.	Go to site
State Custodians Standard Variable	5.64%	5.90%	Mortgage funds are supported by the Aust. Government's $8bn RMBS package	Go to site
MyRate.com.au Advantage Loan	5.88%	5.88%	No fee home loans. Securely funded by ING Bank (Australia) Ltd.	Go to site
RAMS Basic Loan	6.01%	6.07%	RAMS Basic allows you up to 10 years interest only repayments.	Go to site
*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for $150,000 over 25 years, and applies only to this example. Fixed rate loans assume a 3 year fixed term. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may inﬂuence the cost of the loan.

	Fixed 3 year rate	Fixed 5 year rate	Comparison rate*	Key features
MyRate.com.au Fixed Loan	7.63%	7.98%	6.39%	No fee home loans. Securely funded by ING Bank (Australia) Ltd.	Go to site
RAMS Fixed Rate	7.29%	7.74%	6.86%	Fix your loan for up to 10 years	Go to site
Aussie Standard Fixed	7.39%	7.74%	6.77%	100s of loans. 16 lenders. Free appointment.	Go to site
*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for $150,000 over 25 years, and applies only to this example. Fixed rate loans assume a 3 year fixed term. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may inﬂuence the cost of the loan.

	Intro rate	Intro rate term	Comparison rate*	Key features
RAMS Rate Relief	5.58%	24 Months	6.21%	Get an immediate discount off the standard variable rate for the first 2 years	Go to site
St George Discount Variable Rate	5.55%	12 Months	6.74%	Right now you can get 1.1% off the Standard Variable Rate for 12 months with our Advantage Package	Go to site
St George 1 year Introductory Fixed Rate	6.49%	12 Months	6.83%	Introductory fixed rate for 1 year	Go to site
*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for $150,000 over 25 years, and applies only to this example. Fixed rate loans assume a 3 year fixed term. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may inﬂuence the cost of the loan.

	Variable rate	Comparison rate*	Key features
Homestar Advantage Loan	5.88%	5.89%	No fee loan from the non-bank lender of the year.	Go to site
MyRate.com.au Advantage Loan	5.88%	5.88%	No fee home loans. Securely funded by ING Bank (Australia) Ltd.	Go to site
RAMS Basic Loan	6.01%	6.07%	RAMS Basic allows you up to 10 years interest only repayments.	Go to site
*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for $150,000 over 25 years, and applies only to this example. Fixed rate loans assume a 3 year fixed term. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may inﬂuence the cost of the loan.

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: Lowest rate home loans; - based on comparison interest rate

ready to go
whole market
big banks

Go to site
1.
5.76%
State Custodians
– Breathe Easy
Go to site
2.
5.88%
MyRate.com.au
– Advantage Loan
Go to site
3.
5.89%
Homestar
– Advantage Loan
Go to site
4.
5.90%
State Custodians
– Standard Variable
Go to site
4.
5.90%
New Loan
– Advantage Rate Loan

1.
5.58%
AIMS
– Gold Standard Variable Home Loan
2.
5.63%
Reduce Home Loans
– Standard Variable
3.
5.66%
AIMS
– Money Saver Variable Home Loan
4.
5.69%
New Loan
– Time-out
Go to site
5.
5.76%
State Custodians
– Breathe Easy

1.
6.00%
ANZ
– Simplicity PLUS
2.
6.03%
NAB
– Base Variable Rate Home Loan
3.
6.10%
Commonwealth Bank
– 3 Year Special Economiser
4.
6.11%
Westpac
– Flexi First Option Home Loan
Go to site
5.
6.16%
St George
– Basic Home Loan

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Featured home loan review

BankWest home loans

Overall rating: 9 / 10

My BankWest home loan had the lowest interest rate coupled with very low fees at the time we were looking. They have easy redraw options too and with no charge for doing so.

– David Dillon from Western Australia

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: Best home loan providers; - as rated by the Mozo community

Rating
out of 10
1. CUA home loans
– 51 reviews

8.2
2. ME Bank home loans
– 153 reviews

8.1
3. Heritage Building Society home loans
– 30 reviews

8.0
4. Bendigo Bank home loans
– 99 reviews

8.0
5. BankSA home loans
– 54 reviews

7.5

Most recent home loan reviews

Commonwealth Bank home loans

Overall Rating
9
Pricing
10
Product Features
8
Customer Service
10
Convenience
10
Trust
10

A very competitive 5.90% as at 08/02/2010. No monthly fees. Fabulous Netbank experience. I was a bank knocker, but not anymore. – John from New South Wales, a Commonwealth Bank home loan customer. Reviewed 1 day ago

IMB home loans

Overall Rating
5
Pricing
4
Product Features
-
Customer Service
5
Convenience
5
Trust
5

They don't assist the layperson in understanding how to save money, and they will continue along a path to their advantage unless the borrower challenges that. I believe the lender should assist the borrower to save where possible. – JOCELYN from New South Wales, an IMB home loan customer. Reviewed 10 days ago

HomeSide home loans

Overall Rating
7
Pricing
6
Product Features
5
Customer Service
7
Convenience
6
Trust
6

I found their interest rates good to begin with, but since they joined with NAB things have change. Can be confusing with who to talk to when making enquiries over the phone. In general I have had no real problems - interest rates could be like they use to be when Homeside was Homeside and not part of NAB as it is now. – Michael from New South Wales, a HomeSide home loan customer. Reviewed 13 days ago

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: Home loan articles; – all the latest home loan info

Mortgage rate rises 'will be less than feared' Monday 08 February 2010: The Reserve Bank of Australia’s (RBA) recent decision to maintain official interest rates at their previous level has meant that home loan rates will be lower than feared this year, a commentator has observed

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