Best home loans to crush your mortgage in 2020


If saving money on your home loan in 2020 is what you’re after, then you've come to the right place. Discovering a great value home loan could mean the difference between tens of thousands of dollars saved in interest over the course of your loan, but in practice it can be hard to find the best option amongst the dozens of different lenders and rates on the market.

That's why each year, the comparison experts at Mozo put their combined 50 years of financial services experience to use to identify the best value home loan options for Aussie borrowers. Our experts compared 525 loans from 88 lenders and awarded just the top 10% of loans with a Mozo Experts Choice Award.

Read on for some of the top low rate home loans on the market and free yourself from your mortgage shackles faster this new year.

Mortgage Crushing Home Loans

Promoted Smart Home Loan
  • 2.88% variable rate (2.90% comparison rate*)

  • $0 application or ongoing fees

  • Unlimited free extra repayments and redraw facility

Our verdict

Popular online lender is a perennial award winner, and with offerings like the brand new Smart Home Loan it's not hard to see why. This ultra low rate, low fee home loan is packed with useful features like free redraw, the ability to make free extra repayments and a split loan option. actually took out the Mozo Experts Choice Award for its Essentials Variable 80 loan, but the 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 it? Head over to to find out more >>


UBank UHomeLoan - Discount Offer
  • New 2.84% variable rate (2.84% comparison rate*)

  • $0 annual or upfront application fee

  • Free extra repayments and redraw facility

Our verdict

With a 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 competitively low variable and comparison 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 >>


Tic:Toc Variable Home Loan
  • 2.84% variable rate (2.85% comparison rate*)

  • Optional offset account for $10 a month

  • 2019 Mozo Experts Choice Online Lender of the Year

Our verdict

Winner of the Mozo Experts Choice Online Lender of 2019 award, Tic:Toc is transforming the home loans process with a super streamlined 100% online approval process and simple, great value home loans. The Tic:Toc Variable Home Loan offers all of the features you want (think ultra low rate, free extra repayments and redraw plus an optional offset account) and none you don't like annoying fees. 

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


Homestar Star Essentials Home Loan
  • 2.74% p.a. variable rate (2.77% p.a. comparison rate*)

  • Free extra repayments and redraw facility

  • No monthly or ongoing account fees

Our verdict

As one of Australia's oldest non-bank lenders, Homestar knows how to do affordable home loans. The new Star Essentials Home Loan is no exception, boasting one of the lowest variable rates on the market and a number of handy features including unrestricted extra repayments, free online redraws and a split loan option. If you're an owner occupier with at least 20% deposit, the Star Essentials loan offers plenty to get excited about. 

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


Athena Variable Home Loan
  • 2.84% variable rate (2.80% comparison rate*)

  • Free extra repayments and redraw facility

  • No upfront or ongoing fees

Our verdict

New online lender Athena is shaking up the mortgage space with a customer first approach and some of the best value mortgages on the market. The Athena Home Loan has one of the lowest variable rates around and no application, valuation or ongoing fees, not to mention a loyalty bonus each year for 5 years just for making your repayments on time. It also offers free extra repayments and a free redraw facility. Available to refinancers and 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 >>


Newcastle Permanent Special Real Deal Home Loan
  • 3.19% variable rate (3.23% comparison rate*)

  • Double 2019 Mozo Experts Choice winner

  • Borrow with just 10% deposit

Our verdict

If you’re serious about scoring a great home loan, the Newcastle Permanent Real Deal Home Loan is one to look twice at. Featuring a low variable rate, no upfront application or ongoing service fees and plenty of flexible features like the option to make free extra repayments, split your loan between fixed and variable rates and use a partial offset account, it’s hard to go past.

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


Well Home Loans Well Balanced
  • 2.82% variable rate (2.86% comparison rate*)

  • Free extra repayments and redraw facility

  • Multiple 2019 Mozo Experts Choice Award winner

Our verdict

Winner of a Mozo Experts Choice Award 2019 for the Best New Home Loan, the Well Balanced home loan from non-bank lender Well Home Loans is just what the name says... superbly balanced! Featuring one of the lowest rates in the market, an array of flexible features and reduced fees, it’s no wonder this home loan is turning heads. Features include free extra repayments, free redraw and the option for a split account, so you can tailor your loan to suit you.

Where do I get it? Head over to Well 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.

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 if you want 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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