Your selected home loans
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
Read our Mozo Review to learn more about this Macquarie Basic Home Loan
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
Read our Mozo Review to learn more about this Unloan Unloan Variable
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
Read our Mozo Review to learn more about this Macquarie Offset Home Loan
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
Read our Mozo Review to learn more about this Unloan Unloan Variable
Additional repayments of up to $10K per fixed year. Interest rate discounts available. Waiver of $499 application fee when combined with an Orange Advantage Home Loan.
Read our Mozo Review to learn more about this ING Fixed Rate Loan
Compare 25+ lenders with our trusted partner, Lendi.
Talk to one of their experienced home loan specialists by answering a few questions online.
Enjoy a variable rate home loan with a bunch of features from Police Credit Union. Make extra repayments at any time without penalty. No monthly, annual or upfront fees. Free online redraw. Minimum 20% deposit. Qualifying criteria applies. Minimum loan amount is 200K. For new customers only. Mozo Experts Choice Home Lender Credit Union of the Year 2023.
Read our Mozo Review to learn more about this Police Credit Union The Better Home Loan Special Offer
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
Read our Mozo Review to learn more about this Macquarie Basic Home Loan
Get a competitive variable rate with ING’s Mortgage Simplifier. Free extra repayments, no monthly or annual fees. Freedom to make free extra repayments or redraws.
Read our Mozo Review to learn more about this ING Mortgage Simplifier
Compare 25+ lenders with our trusted partner, Lendi.
Talk to one of their experienced home loan specialists by answering a few questions online.
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
Read our Mozo Review to learn more about this Macquarie Offset Home Loan
An easy to use Home Loan with no establishment fee and no monthly or annual fees. Minimum deposit of 20% is required. Mozo Experts Choice Awards - Investor Home Loan Award 2024^.
Read our Mozo Review to learn more about this Greater Bank Discount Great Rate Home Loan
No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.
Read our Mozo Review to learn more about this Macquarie Basic Home Loan
Read our Mozo Review to learn more about this Macquarie Offset Home Loan
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
Read our Mozo Review to learn more about this ANZ Fixed Rate
Compare 25+ lenders with our trusted partner, Lendi.
Talk to one of their experienced home loan specialists by answering a few questions online.
Our partner Lendi can help with that. All they need is a few details to get started.
Your selected home loans
Home loans come in many shapes and sizes, start comparing here based on your needs.
Search the Mozo Database
Browse all 463 home loans in Mozo's comparison database.
Our experts track home loan rates, product changes and help you stay informed of industry trends. read more
Small rate differences can amount to huge savings so it pays to compare.
Home loans & rates expert
The Reserve Bank of Australia (RBA) held the cash rate today, which means we’re likely to see some of the upward pressure placed on home loan interest rates ease a little further.
After the last few holds, average home loan rates have steadily declined. Since 1 May 2024, the average variable rate has dropped 0.02%.
Economists at CommBank, NAB, and Westpac still expect the RBA to make the first cash rate cut in November - December 2024.
The average variable home loan rate in the Mozo database is 6.80% p.a. at 19 June 2024, based on an owner-occupier, making principal and interest repayments on a $400,000 loan with <80% LVR.
The lowest home loan in the Mozo database at 19 June 2024 is 1% lower than the average home loan rate. The best home loan rate comes from G&C Mutual Bank, at 5.80% p.a. (5.83% p.a. comparison rate*).
As at 19 June 2024, the lowest variable rates for a $400,000 loan (OO, P&I, LVR >80%) among lenders we track are:
Every buyer is different, so no single home loan is best for everyone. Instead, choosing the right home loan is about matching your property aims and budget.
In general, the best home loan will:
Once you choose the right home loan, all you have to do is check the eligibility criteria, prepare your finances, and apply.
Home loans help millions of Australians get on the property ladder. Comparing mortages can help you save costs.
The type of home loan you choose will depend on your budget and plans. The two main types of home loans are:
Owner-occupied and investment home loans also vary by features and repayment types (principal & interest vs. interest-only). Buyers should choose a home loan that serves their goals.
Home loan interest rates change with the market. The cash rate set by the Reserve Bank of Australia (RBA) influences how much interest you pay on your mortgage.
In April 2022, the cash rate was 0.10%, with the average variable home loan around 3.03% p.a. By June 2024, the cash rate rose to 4.35%, doubling the average variable rate to 6.80% p.a. (rates based on OO, P&I, $400k, <80% LVR loans in the Mozo database, as of 19 June 2024).
Lenders offer different home loan interest rates. The Big Four charge around 7.31% p.a. on average for variable rates, while the lowest home loan in the Mozo database is about 5.80% p.a. (as of 19 June 2024).
Comparing is crucial for finding cheap home loans. On the average Australian mortgage of $607,963, choosing the lower rate could save you $575 per month, or $172,440 over 25 years.
Exploring different lenders and conducting a home loan comparison can lead to significant savings. Compare home loans today to find the right rates and terms for your needs.
A home loan deposit is a downpayment you give the lender to use as security.
The deposit also establishes your loan-to-value ratio (LVR) and home equity.
Usually, large deposits give you lower interest rates. A standard deposit size is 20% of the property's purchase price.
Many home loans come with features that help save you money, too, such as:
Expert tip: Features like offset accounts and free extra repayments are more common with variable home loans.
Here at Mozo, we believe comparison makes your money count for more. We work hard to ensure you have the most up-to-date product information and home loan insights at your fingertips. Read more about our fact-checking process here.
We track the interest rates and home loan products of over 80+ mortgage lenders around Australia, including award-winning providers.
Mozo’s team of money experts crunch data, unpack complex finance topics, and strip away the jargon to help you make better financial choices.
Mozo’s comparison tools and services are free! You won’t pay any extra for using our site or taking out a product by clicking one of our provider links.
To find the best home loan, it's important to look in the right places. The Mozo Experts Choice Home Loan Awards are a great place to start.
Each year, Mozo’s expert judges evaluate hundreds of home loan offers based on value, quality, features, rates, and fees. Only the top 10% of home loans receive an award and are hand-picked from hundreds of mortgage deals from 99 lenders.
For more information about what makes these home loans the best, read the methodology report.
A home loan is money borrowed from a bank or a lender to buy property. The debt is repaid in instalments, called mortgage repayments, with interest, over 20 to 30 years.
Mortgages are usually repaid over a 20 to 30-year period. This period of time is called the “loan term”. The standard loan term in Australia is 25 years, though some can go as long as 40 years.
Different types of home loans suit different types of buyers. First home buyers should look for first home loans with lower interest rates, while investors should use investment home loans. See our home loan types guide for more information.
A home loan is a financial product sold by a bank or lender. A mortgage is a home loan that’s in progress, meaning the borrower is already making repayments.
Home loan interest rates come in a few varieties. Fixed interest rates stay the same for a fixed term (usually 1-5 years), while variable interest rates can change at the lender’s discretion.
Each type of interest rate has pros and cons. Fixed rates give borrowers consistent repayments for a time, but variable home loans have greater features and flexibility. Compare fixed vs. variable home loans in our guide.
Five main home loan features are available in Australia: offset accounts, flexible repayments, extra repayments, redraw facilities, and split loan interest rates.
A comparison rate is an interest rate that includes any charges like lending fees. A comparison rate is a more accurate estimation of how much a home loan costs over time.
This will depend on your needs, preferences, and budget, so it’s vital to compare options to see what could work.
Many home loan lenders have won awards for their incredible offers. Check out the winners of the 2024 Mozo Experts Choice Home Loan Awards.
To apply for a home loan, assemble your paperwork, choose a property to buy, and compare lenders to find the right home loan for you.
When your documents are in order, fill out the home loan application form, pay any applicable fees, and submit your application.
The home loan paperwork you need to have includes:
How long it takes to apply for a home loan varies. Lodging the application itself could take anywhere from a few minutes to a few hours, depending on the application and lender.
It will also depend on how prepared you are. Your paperwork and information must be ready to apply, including at least three months of consistent income, spending, and savings. Preparation to apply could take weeks or months.
Crunch the numbers with our range of home loan calculators! See all calculators
Learn what you need to know about mortgages and money management in our helpful guides. See all
Get the latest on property market trends, interest rates, and lending news from Mozo's expert writers. See all
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We compare home loans from the following well-known providers and many more... See more home loan providers
No bank wants to help you when you have $165,000 mortgage we tried to borrow $50,000 and we got treated like we’re idiots
Read full reviewNo bank wants to help you when you have $165,000 mortgage we tried to borrow $50,000 and we got treated like we’re idiots
ANZ Bank's online and mobile banking platforms are unreliable and difficult to navigate, often experiencing frequent outages and glitches. This makes it challenging for me to access their accounts and perform basic banking tasks. I still can't access my credit card rewards site.
Read full reviewANZ Bank's online and mobile banking platforms are unreliable and difficult to navigate, often experiencing frequent outages and glitches. This makes it challenging for me to access their accounts and perform basic banking tasks. I still can't access my credit card rewards site.
Easy to sign up but they have no intention on initiative to tell you when interest rates go up.
Read full reviewEasy to sign up but they have no intention on initiative to tell you when interest rates go up.
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