Australia’s best value home loans unveiled

Finding the right home loan could mean the difference between tens of thousands of dollars in interest saved over the life of a loan, but Aussie borrowers can be forgiven for finding it hard to pick the best option given the mountain of different lenders and rates available.

Thankfully, with over 65 years of financial services experience between them, the Mozo experts have a serious knack for identifying great value loans. And each year they use it to compare more than 500 home loans from close to 100 lenders in the annual Mozo Experts Choice Awards,^ to identify the best value options for Aussie borrowers.

So whether you’re refinancing, investing or looking to buy a new home, read on for some of the best, low rate home loans on the market to help you start saving today.

Mozo Experts Choice Best Value Home Loans

OneTwo - Variable Rate Home Loan
  • 3.09% variable rate (3.00% p.a. comparison rate*)
  • Zero fees + score discounts as you pay off your loan
  • $5,000 refinance cashback for loans over $500K (t&cs apply)
Find out more

Our verdict
New digital lender, OneTwo Home Loans, took out a Low Cost Home Loan Award 2022^ for this innovative variable home loan that combines a low rate and zero fees with features that reward you for paying down your loan. Each time you pay off 5% of your original loan, OneTwo will drop your rate by 0.03% (discount capped at 0.15%). On top of this, OneTwo will match any extra repayments made in the first 6 months (up to $2,500).  Available to refinancers in metro and inner regional NSW, Victoria and SA. 80% LVR.

Where do I get it? Head over to OneTwo to find out more >>

UBank - Neat Home Loan
  • Variable rates from 3.64% (3.66% comparison rate*) - min 40% deposit
  • Free extra repayments and redraw facility
  • Fast and paperless online application process
Our verdict

With some of the lowest variable and fixed rates in town, no ongoing fees and a low upfront fee of $250, the UBank Neat Home Loan is a great budget-friendly option that comes with the security of being backed by NAB. Features include free extra repayments, free redraw and the choice of monthly, fortnightly or weekly repayments to suit your budget. No wonder it was a slam dunk for a Mozo Experts Choice Split Home Loan Award for 2022.^ 

Where do I get it? Head over to UBank to find out more >> - Smart Booster Home Loan
  • New 3.60% discount variable rate for 2 years (3.96% comparison rate*)
  • Free extra repayments and redraw,
  • Optional offset account for 0.10%
Our verdict

Looking for a loan that's easy on your wallet? Look no further than the Smart Booster Home Loan from popular online lender This low rate, low fee mortgage is packed with handy features like free extra repayments, unlimited free redraw, an optional offset account and a split rate option. With all this value on offer, it's easy to see why this loan took out the Mozo Experts Choice Award for Best Low Cost Home Loan 2021.^ Minimum 20% deposit required.

Where do I get it? Head over to to find out more >>

Mozo Editors Choice Low Rate Home Loans

Macquarie - Basic Home Loan
  • Rates from 3.69% variable and comparison rate* - minimum 40% deposit
  • Zero application or ongoing fees
  • Free redraw and extra repayments

Our verdict
Macquarie is now Australia’s 5th largest home lender, and with offerings like this it’s not hard to see why. This low rate home loan is light on fees but loaded with features, including fee-free redraw using online banking, flexible ways to repay and the flexibility to split your loan and set different repayment types. Plus, you can apply online in as little as 15 minutes.

Where do I get it? Head over to Macquarie to find out more >>

Unloan - Variable Home Loan
  • 3.14% variable rate (3.06% 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 low 3.14% variable rate (3.06% 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 $3M. Minimum 80% LVR.

Where do I get it? Head over to Unloan to find out more >>

Athena - Celebrate Variable Home Loan
  • New 3.79% variable and comparison rate*
  • Zero Athena fees + free offset account and redraw
  • Mozo Experts Choice Home Loan Innovation Winner 2021^
Our verdict

Online mortgage challenger Athena is taking on the banks with a customer first approach and some of the best value home loans around. There are no application, valuation or ongoing fees and on top of that, to reward borrowers for paying down their home loan, Athena will now automatically lower your rate as you pay off your loan. Available to borrowers with a 40% deposit, this Athena Home Loan is shaking up the mortgage market.

Where do I get it? Head over to Athena to find out more >>

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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 2021. 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, loan amount and term entered. 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

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.