Best home loans to crush your mortgage in 2023
If saving money on your home loan in 2023 is what you’re after, then you've come to the right place. Discovering a great value home loan could mean the difference between tens of thousands of dollars saved in interest over the course of your loan, but in practice it can be hard to find the best option amongst the dozens of different lenders and rates on the market.
That's why each year, the comparison experts at Mozo draw on their combined 67 years of financial services experience to identify the best value home loan options for Aussie borrowers.
For the 2023 Mozo Experts Choice Awards,^ we assessed 480 home loans from 98 lenders, with just the top 10% in each award category typically receiving the expert tick of approval.
So if you're keen to cut your home loan down to size, read on for the low-down on some of the winners in the 2023 Awards.^
Mozo Experts Choice Best Home Loans
BEST LOW COST HOME LOAN
Unloan - Variable Home Loan
- 5.99% p.a. variable rate (5.90% p.a. comparison rate*)
- Zero upfront or ongoing fees
- Refinancers only
Our verdict:
Unloan is a stellar new digital home loan built by CommBank, offering owner-occupiers a super low 5.99% p.a. variable rate (5.90% 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 refinance loans of up to $10M. Minimum 20% deposit.
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Want to compare more home loans? View the latest mortgage rates from over 80 lenders at Mozo's home loan comparison hub.
This is just a selection of our Mozo Experts Choice Home Loan winners, announced in February 2023. Head over to our dedicated Awards page to see the full list of winners.
The Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers. Our judges base their decision on hard-nosed calculations of value to the consumer, using Mozo’s extensive product database and research capacity. Product providers don’t pay to be in the running and we don’t play favourites. Award winners may choose to purchase a licence to use their award in their own marketing and may choose to list products on the Mozo website in a way that may generate revenue for Mozo.
* 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.
^See information about the Mozo Experts Choice Home Loan Awards
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