The best home loans in Australia for 2020


There’s no better place to start your home loan search than with the crème de la crème, and the good news is that Australia’s best home loans have been revealed in the 2020 Mozo Experts Choice Home Loan Awards. 

Drawing on over 65 years combined experience in financial services, our expert judges analysed 436 home loans from 86 lenders for this year's awards, with just the top 10% of products in each category receiving their tick of approval.

The takeaway? Borrowers could save thousands! Choosing the best value home loan over the average big bank loan could save a typical borrower $93,000 over the life of the loan.* 

Don’t just take our word though, see for yourself by comparing the best value home loans of 2020 below.

Mozo Experts Choice Winning Home Loans 2020

Promoted Smart Home Loan 80
  • 2.48% variable rate (2.50% comparison rate*)

  • Free extra repayments and redraw facility

  • No application or ongoing fees

Expert verdict

Keen to receive the low rate treatment? Well has really rolled out the red carpet with the Smart Home Loan - winner of a 2020 Mozo Experts Choice Award for best Low Cost Home Loan. Not only does this low-fee mortgage have one of the sharpest interest rates around, it comes with a bunch of handy extras like a free redraw facility and the ability to make extra repayments. 

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


UBank UHomeLoan - Discount Offer
  • 2020 Home Lender Bank of the Year

  • 2.49% variable rate (2.49% comparison rate*)

  • Zero fees

Expert verdict

You know you’re onto a good thing with 2020 Home Lender Bank of the Year, UBank, and the UHomeLoan Discount Offer is no exception. Borrowers searching for a loan of $200,000 or more can secure one of the lowest variable rates going around, plus they won’t need to worry about any upfront or ongoing fees and they can take full advantage of a split home loan feature, free extra repayments and a redraw facility. 

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


HSBC 2 Year Fixed Rate Home Loan
  • 2.09% fixed rate for 2 years (2.98% comparison rate*)

  • No upfront application or ongoing service fees

  • Mozo Experts Choice Fixed Home Loan 2020

Expert verdict

This market leading 2 year fixed rate home loan gives you the security of monthly repayments while still taking advantage of flexible features like the ability to make free extra repayments up to $10,000 per year. You can even split your loan between fixed and variable rates, and as an added bonus there are no application or ongoing fees to pay. You'll even get a free relationship manager to guide you through the application process. Available to borrowers with a 20% deposit or more.

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


Qudos Bank Fixed Rate Home Loan
  • 2.29% 3 year fixed rate (2.82% comparison rate*)

  • No upfront or ongoing fees

  • Free extra repayments (up to $10,000 per year)

Expert verdict

Ready to lock in a low rate? Multiple 2020 Mozo Experts Choice Award winner Qudos Bank may have just the thing for you with the Fixed Rate Home Loan. Offering a super low 3 year fixed rate, the best Fixed Rate Home Loan Award winning loan could also be friendlier on your wallet because there are no upfront or ongoing fees attached. And did we mention you’ll be able to get ahead of schedule with free extra repayments (up to $10k per year)?

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


Athena Variable Home Loan
  • 2.34% variable rate (2.34% comparison rate*)

  • Free extra repayments and redraw facility

  • Double Mozo Experts Choice Award winner for 2020

Expert verdict

Online lender Athena is on a mission to win customers over from the big banks, and the Athena Variable Home Loan is one of the best value home loans around. This mortgage features a killer variable rate that stays great from day one to day none and zero evaluation or ongoing fees. What’s more, to reward borrowers for paying down their home loan, Athena will now automatically lower your rate as you pay down your loan. Initially available only to refinancers, this Athena Home Loan is now available to home buyers buying an established property in a  capital or major regional city.

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


Homestar Star Essentials Home Loan
  • 2.29% variable rate (2.32% comparison rate*)

  • Zero annual or monthly service fee

  • Extra repayments and redraws (for free)

Expert verdict

Homestar’s Essentials Home Loan comes with a rate that’s hard to beat, so it won’t shock you to learn that it took out a 2020 Mozo Experts Choice Award for best Low Cost Home Loan. Aside from nabbing one of the lowest rates around, borrowers looking for a loan between $150,000 and $850,000 will appreciate that there’s no service fee to worry about, plus it comes equipped with handy extras like free extra repayments and a redraw facility.  

Where do I get it? Head over to Homestar 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.

Interested in comparing even more home loans? Check out the latest mortgage rates from over 80 different lenders by heading over to the Mozo home loan comparison hub

To see the full list of this year’s home loan winners or to read through the methodology report, check out our dedicated 2020 Mozo Experts Choice Awards page. 

*Loan savings based on a $400,000 owner occupier loan over 25 years with principal and interest repayments.

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