Australia's top home loans from under 2 percent

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With variable and fixed home loan rates dropping to new record lows in 2021 and lenders battling for borrowers amidst the surging property boom, there's never been a better time to compare your current home loan against the best on market and see how much you could save by switching.

Mozo's analysis reveals that there is now a huge difference between the average home loan rate and the best on the market. In fact, the average big 4 bank borrower with a $400K owner occupier home loan could now save up to $4,024 a year by switching. That's more than $120,000 in savings over the life of a 30 year loan!

Finding the best value home loans can be hard work given the mountain of choice on offer, which is why the Mozo experts are committed to doing the hard work for you. Read for our Editor's run down of some of the best value Mozo Experts Choice Winning home loans on the market today...

Mozo Experts Choice Winning Home Loans 2021 Smart Booster Home Loan
  • 1.85% discounted variable rate for 2 years

  • Rolls over to low ongoing 2.25% (2.21% comparison rate*)

  • Optional offset account for 0.10%

Expert verdict:

Popular online lender is a perennial award winner, and their newest Smart Booster Home Loan took out a Mozo Expert Choice Award for Best Low Cost Home Loan 2021.^ This low rate, low fee home loan is packed with useful features like unlimited extra repayments, free redraws and an optional offset account to boost your savings. With all this value on offer and no pesky ongoing fees to boot, this loan is a must-see. Minimum 20% deposit required.

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

Tic:Toc Variable Home Loan
  • 1.89% variable rate (1.90% comparison rate*)

  • No upfront or ongoing fees

  • Best Low Cost Home Loan 2021^

Expert verdict:

This value-packed home loan from Mozo Experts Choice Online Lender of the Year,^ Tic:Toc, boasts one of the lowest variable rates on the market and has no upfront or ongoing fees. Borrowers can add on an optional offset account for $10 a month to help save on interest, and pay the mortgage off faster with free additional repayments. Available for loans of up to $2 million, minimum 10% deposit.

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

UBank UHomeLoan
  • 1.79% fixed rate for 1 year (2.18% comparison rate*)

  • Free extra repayments up to $20,000 during fixed term

  • Fast and easy online application process

Expert verdict:

Looking to lock in a sub 2.00% rate with no ongoing fees and free extra repayments up to $20,000 during the fixed term? You got it! If you're in the market for the security of a fixed home loan, check out this Mozo Experts Choice Fixed Home Loan Award Winner^ from top online lender UBank. It comes with the flexibility to choose your own repayment schedule (weekly, fortnightly or monthly) and the option to split between fixed and variable rates to better suit you.

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

Bank of Queensland Economy Variable Home Loan
Bank of Queensland
  • Variable rates from just 1.98% p.a. (2.15% p.a. comparison rate*)

  • Bonus $3,000 cashback for refinancers - limited time only

  • Available to borrowers with 70% LVR

Expert verdict:

BOQ is a favourite with borrowers looking to find value outside of the big four banks, and for good reason. This jaw-dropping sub 2.00% variable home loan is available to borrowers who have an LVR of 70% or less and who meet BOQ's debt to income ratio criteria. Loan features include free extra repayments and free redraws for a $10 monthly service fee, plus refinancers can score a bonus $3,000 cashback for a limited only. Minimum loan size $250,000.

Athena Celebrate Variable Home Loan
  • 1.99% variable and comparison rate* (min 40% deposit)

  • Zero Athena fees plus free extra repayments and redraw

  • Mozo Experts Choice Home Loan Innovation Winner 2021^

Expert verdict:

The innovative Celebrate Variable Home Loan from Athena features a new super low rate and a customer first approach, helping Aussies around the country save money and pay off their mortgages sooner. Plus, 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.

Macquarie Offset Home Loan
  • Competitive variable rates starting from 2.14% (2.42% comparison rate*)

  • 100% offset account, redraw facility and extra repayments

  • Best Packaged Home Loan Winner^

Expert verdict:

Macquarie is now Australia’s 5th largest home lender, and with offerings like this it’s not hard to see why. This competitive packaged home loan is loaded with features, including 100% offset (up to 10 free offset accounts per loan account), free extra repayments and online redraws, a split loan option and even repayment holidays for those times in life when you need to hit pause. There's a $248 annual package fee but no upfront fees to worry about.

Where do I get it? Head over to Macquarie 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 the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. 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 loans Awards

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 March 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.

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