Australia’s cheapest home loans unveiled


07 May 2019


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 50 years of financial services experience between them, the Mozo experts have a serious knack for identifying great value loans. And they used it to compare 436 loans from 85 lenders in the 2019 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.

Mortgage Crushing Home Loans


UBank UHomeLoan - Discount Offer
  • 3.59% variable interest rate (3.59% comparison rate*)

  • $0 annual or upfront application fee

  • Free extra repayments and redraw facility

Our verdict

With a super low interest rate, no fees to apply and no annual service fee, the UBank UHomeLoan is a great budget-friendly option for refinancers that comes with the security of being backed by NAB. The 3.59% variable rate is available for loans of $200,000 plus with a minimum deposit or 20% or more, and you can choose monthly, fortnightly or weekly repayments to suit your budget. No wonder it was a slam dunk for a Best Low Cost Home Loan Award.

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

Promoted Smart Home Loan
  • 3.48% variable rate (3.50% comparison rate*)

  • $0 application or ongoing fees

  • Unlimited free extra repayments and redraw facility

Our verdict

Looking for a loan that's easy on your wallet? Look no further than the Smart Home Loan from This ultra low rate, low fee mortgage is packed with handy features like the option to make free extra repayments, unlimited free redraw and a split rate option. actually took out the Low Cost Home Loan Award for its Essentials Variable 80 loan, but the brand new Smart Home Loan has an even lower rate and all the same great features as the Essentials, so we'd be crazy not to review it here.

Where do I get itHead over to to find out more >>


Tic:Toc Variable Home Loan
  • 3.47% variable rate (3.48% comparison rate*)

  • Optional offset account ($10 per month)

  • $1,000 cashback offer for new borrowers

Our verdict

If you’re comfortable with managing your mortgage online, then why not do it with the best? Tic:Toc is the 2019 Mozo Experts Choice Online Lender of the Year, and its variable rate home loan offers up a super low interest rate, no application or ongoing service fees and an optional offset account to help you save on interest. Plus, you can pay your loan off faster with free additional repayments. And that’s all without mentioning that at the moment, new borrowers of any kind can get $1,000 cashback when you settle your Tic:Toc Variable Home Loan.

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


Virgin Money Reward Me Variable Rate Home Loan
  • 3.69% variable interest rates (3.83% comparison rate*)

  • Earn 20,000 Velocity Points for every $100,000 borrowed

  • Free extra repayments and offset facility

Our verdict

With the Virgin Money Reward Me home loan, not only will you get a competitive loan with a bunch of great features, but you’ll also snag 20,000 Velocity Points for every $100,000 you borrow at the start of your loan, plus an extra 1,000 Velocity Points every month of your loan and 30,000 Velocity Points every 3 years when your loan balance remains above $50,000. That’s what we call a sweet deal!


Homestar Star Essentials Home Loan
  • 3.49% variable rate (3.49% comparison rate*)

  • Free extra repayments and redraw facility

  • No monthly or ongoing account fees

Our verdict

You could save thousands on your mortgage with Homestar, who has been offering low-cost home loans since 2004. With a number of great features including unrestricted extra repayments and free online redraws - plus an ultra low variable rate, the Star Essentials Home Loan gives owner occupiers lots of reasons to love it! And if you’re a refinancer borrowing between $200,000 and $750,000, you can expect to have the $250 valuation fee and $265 legal fee waived if you apply by 28 June.

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


Newcastle Permanent Discounted Variable Home Loan
  • 3.89% variable interest rate (4.27% comparison rate*)

  • No upfront fee ($395 annual package fee)

  • Mozo Experts Choice Australia's Best Customer-Owned Banking & Home Lender of the Year 2018 winner

Our verdict

With the Newcastle Permanent Discounted Variable Premium Plus Package, you can secure a loan with an LVR as high as 90% and cash in on money saving features like unlimited free extra repayments, a redraw facility and an offset account. Add a competitive interest rate and the option to choose weekly, fortnightly or monthly repayments, and it’s hard to go wrong with this one! Just keep in mind you’ll pay an annual fee for all this value.

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

Promoted Fixed Rate Special Offer
  • 3.48% fixed rate for 3 years (3.85% comparison rate*)

  • No ongoing service fees

  • Free extra repayments up to $10,000 p.a.

Mozo Experts Choice winner has recently launched this 3 year fixed rate home loan offer with a super low rate, no ongoing fees and the option to make free extra repayments. So if you like some peace of mind to go along with your home loan, you’re in the right place. It’s available for loans of up to $1 million, with an 80% LVR. You can also choose to make weekly, fortnightly or monthly repayments to suit your needs and budget.

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

*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.

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 2019. 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.

Calculate your home loan repayments

We can show you the monthly repayment amount for a range of loans

I want to borrow
for years

Mozo may receive advertising fees from the financial institutions, issuers of financial or credit products and third party advice providers that are shown on this page. These fees are based on a cost per click, cost per acquisition, or a fixed fee.