Best online mortgage lenders in Australia
Digital banking has come a long way in recent years, and more and more Australians now look to online lenders when taking out a mortgage. With amazing perks like convenient applications, fast approval, and competitive interest rates, it's not hard to see why!
In addition to the digital-only players, many traditional brick-and-mortar banks also offer online-only home loans making it a convenient option to apply from the comfort of your home.
Whether you’re applying online or in person, you’ll want to make sure that you’re getting a good deal, and this is where the Mozo Experts Choice Home Loan Awards come in. Each year our experts crunch the numbers across different home loan categories to find the best value loans for Australians.
Here’s a look at some of the winners from our 2025 awards which are available online, along with some of our editor’s picks for this month.
Mozo Experts Choice Home Loan Awards
Every year, Mozo’s expert judges comb through hundreds of home loans from 97 lenders across our database, sifting through rates, features, and fees until stand-outs emerge to be crowned winners. This year had fantastic offers from online lenders and digital banks, so there’s much to compare.
Browse a selection of award-winning loans from this year below.
Compare best online home loans
Unloan - Variable Home Loan
- Variable rates from 5.74% p.a. (5.65% p.a. comparison rate*)
- Zero upfront or ongoing fees
- Low cost home loan winner - Mozo Experts Choice Awards 2023, 2024 & 2025^
Expert verdict:
Unloan’s Variable Home Loan has taken out a low cost home loan award for the third year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner-occupiers a super low 5.74% p.a. variable rate (5.65% p.a. comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for loans of up to $10M. Minimum 20% deposit.
Loans.com.au - Variable Home Loan 90
- Variable interest rate from 5.79% p.a. (5.83% p.a. comparison rate*) for LVR < 90%
- Free extra repayments and redraw + optional offset account
- Available to borrowers with 90% LVR
- 2025 Mozo Experts Choice Award winner^ - First Home Buyer
Expert verdict:
This offer from loans.com.au took home a First Home Buyer win at this year’s Mozo Experts Choice^ awards. With no monthly, ongoing, or application fees, unlimited free redraws, and an optional offset account (for an additional 0.10% p.a. on your interest rate, T&Cs), this variable interest loan has much to get excited about. To qualify, you’ll only need a 10% deposit, and keep in mind there’s a $300 settlement and $230 security assessment fee.
NRMA Home Loans Variable Home Loan
- 5.78% p.a. variable rate (5.82% p.a. comparison rate*)
- Zero application fees to pay
- Free additional repayments and online redraw
- 2025 Mozo Experts Choice Award winner^ - Offset home loan
Expert verdict:
Enjoy a competitive interest rate on up to a 30 year loan term with the NRMA variable home loan. There is no application fee to pay and you can make unlimited additional repayments to pay your home loan off sooner. You’ll get free online redraw and have the option to add a 100% offset account for a small fee. 10% minimum deposit. Fees & charges apply, Australian Credit Licence 237879 is held by Bendigo and Adelaide Bank Limited, the credit provider.
Editor's picks online home loans
Looking for something unique? Us too! While these loans may not have won an award this year, we still believe they offer something unique worth checking out. So if you're comparing online home loans, here are this month's editor's picks.
IMB Bank 2 year Fixed Rate Home Loan
- 5.69% p.a. 2 year fixed rate (6.00% p.a. comparison rate*)
- Up to $4,000 cashback (T&Cs apply)
- Free Internet and Mobile Banking redraws
Get the peace of mind of a competitive fixed rate home loan for 2 years with IMB and score up to $4,000 cashback in your pocket once approved (T&Cs apply). You have the freedom to make up to 12 months repayments in advance without penalties, plus you’ll have free Internet and Mobile Banking redraws (T&Cs apply). There’s only a 5% deposit required and you have the flexibility to split your home loan as required. No offset account.
uBank Flex Variable Home Loan
- 5.84% p.a. variable rate (6.08% p.a. comparison rate*)
- Multiple offset accounts available
- Free extra repayments and redraw facility
Whether you’re buying or refinancing, uBank’s Flex Variable Home Loan gives you lots of options. You can get a 100% interest offset across multiple Spend, Bills and Save accounts and make as many additional payments as you want at no extra charge (T&Cs apply). On top of all that, this loan offers the perfect balance of flexibility and security, that you can split your Flex variable home loan with a uBank fixed home loan too. 40 % deposit required. Annual fee to pay.
FAQs about online home loans
How do you apply for an online home loan?
When applying for an online home loan, there are a few things you'll need to prepare beforehand.
Identification
Having proof of your identity is mandatory for taking out nearly any financial product, but especially loans. You may need to provide multiple forms of ID for your application. Valid forms of ID can include:
- Birth certificate.
- Passport.
- Licence (either local or overseas).
- Citizenship certificate.
- Pension card issued by Centrelink.
- Medicare card.
- Household bill, e.g. council rates, phone, or electricity bill.
Income
Providing proof of income shows the lender how you will repay the loan. This can include recent pay slips, tax returns, employer statements, rental agreements, or any other valid paperwork showing how much money you expect to make.
Living expenses
Before applying for a home loan, calculate all your living expenses, including any unexpected expenses. This includes food, rent, clothing, utilities, and so on. If you're a landlord receiving rental income, include any costs related to renting out the property, including maintenance or insurance.
After you have this information, filling out the forms and uploading the required documentation can take around 30 minutes.
How do you apply for a line of credit online?
Applying for a line of credit is similar to applying for a credit card. The bank assesses your financial situation and establishes a max loan amount and your ability to pay back debt. From there, they will give you a line of credit up to this amount.
Applying online follows a similar process to in-person. Simply fill out the forms with the required documentation and submit it for approval.
What does refinancing your home loan mean?
Refinancing your home loan just means you've swapped your existing mortgage for a new one, either to a different product with the same lender or a totally new lender. It's the home loan equivalent of switching mobile plans or energy providers.
How does refinancing your home loan work?
Refinancing a mortgage is done for a number of reasons, such as switching to a better interest rate or a loan with fewer fees and better features, like free extra repayments with a redraw facility.
While refinancing can sometimes be a bit of a process, it's still a worthwhile option if you're unhappy with your current home loan. Many lenders even offer cashback to customers who refinance with to one of their products, so shop and around and see what deals could be out there for you.
Once you find one you're happy with, get in touch with the lender to see what their refinancing options look like. They'll take into consideration your property, the outstanding balance on your loan, your loan-to-value ratio and how much equity you have, and other serviceability tests like your income and other debts. If they decide you're a good fit, they'll approval your refinancing application and start the process of moving you over. All up, it can be done in as little as six easy steps.
How long does it take to apply for an online home loan?
Applying for an online home loan can be easy if you have all your required paperwork ready. Most online forms can be filled out within 20-30 minutes and you can expect a result in the coming days or weeks. Some lenders even claim to offer ten minute applications, so compared to going in person, online can definitely be speedier. This can make it especially handy if you're after pre-approval before moving on a property, but keep in mind 'quick' shouldn't mean 'careless': it's still important to do your due diligence and understand what you're getting into.
^See information about the Mozo Experts Choice Home loans Awards
Want to see how the selection above stacks up against other home loan offers? Visit our home loan comparison hub to filter your search by rate and mortgage type.
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.