April has arrived, and now that you’ve gotten over the Easter sugar rush and survived April Fool’s Day, it’s time to get back to reality - which for home buying hopefuls might mean the search for a red hot home loan deal.
Luckily for you, the rate cuts have kept coming over the past month, with lenders keen to entice autumn property season borrowers with low rates.
So if you’re planning to purchase a property soon - whether its your first or your fifth - start off on the right foot by checking out our Editors’ picks of some of the choicest home loan offers around.
If you’re looking at borrowing up to $2 million and want a super low rate to keep your costs down, then check out the loans.com.au Essentials Variable 80 home loan. There is no ongoing service fee to worry about and money-saving features like free extra repayments and redraw facility on offer, plus the chance to pick weekly, fortnightly or monthly repayments.
UBank UHomeLoan - Discount Offer
3.62% variable rates (3.62% comparison rate)
No application or annual fees
$1,000 cashback when you refinance a $200,000 loan before 6 June 2018
Jam packed with value, the UBank UHomeLoan Discount Offer comes with a super competitive low rate and no upfront or annual fees. There’s also free extra repaymetns and a redraw facility to help you save money, plus at the moment, refinancers can snag a $1,000 cashback offer. This one’s available for loans starting from $700,000.
ME Flexible Home Loan
3.69% variable rates (4.11% comparison rate)
No application fee ($395 annual fee)
2018 Experts Choice Packaged Home Loan winner
With a super competitive interest rate and no upfront fees to worry about, the ME Flexible Home Loan Member Package comes with all the bells and whistles, without the steep price tag to match. Features you’ll get with this package include a full offset account, free extra repayments and a free redraw facility (minimum redraw applies.)
Greater Bank Discount Great Rate Home Loan
3.74% variable rate (3.74% comparison rate*)
No application or ongoing service fees
Mozo Experts Choice First Home Buyer Loan winner
Sometimes, simple is better, and the Greater Bank Discount Great Rate Home Loan is perfect for borrowers in the market for a no-frills option. It comes with a low rate and next to no fees, plus a couple of key features including free extra repayments and a redraw facility. You can also set your loan to suit your budget, with weekly, fortnightly or monthly repayment options.
State Custodians Low Rate Home Loan with Offset
3.64% variable rate (3.67% comparison rate*)
No ongoing service fees
Offset account and free extra repayments
If you’re after a home loan with an offset account to help you cut down the amount of interest you're paying, then be sure to check out the State Custodians Low Rate Home Loan with Offset. It also includes features like free extra repayments and a redraw facility, plus there’s no application or ongoing service fee to worry about and a low rate to boot.
Heritage Bank Discount Variable Home Loan
3.69% variable rate (3.71% comparison rate*)
No application or ongoing service fees
Choose weekly, fortnightly or monthly repayments
The low rate loan Discount Variable home loan from Heritage Bank packs a punch in value. You borrow from $150,000 and have the option to split your loan between fixed and variable rates, as well as choose weekly, fortnightly or monthly repayments. This loan also comes with free extra repayments and a redraw facility - but there is a fee to redraw.
*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.