Best home loans to crush your mortgage in 2021

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If saving money on your home loan in 2021 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 436 loans from 86 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 Smart Home Loan 80
  • 2.48% variable rate (2.50% p.a. 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 Smart Home Loan 80 it's not hard to see why. This 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.With all this value on offer and no pesky fees to boot, it's no surprise the Smart Home Loan took out a Mozo Experts Choice Low Cost Home Loan Award for 2020.

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

UBank UHomeLoan - Discount Offer
  • New 2.34% p.a. variable and 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 >>

Athena Celebrate Variable Home Loan
  • New 2.19% variable rate (2.19% comparison rate*)

  • Zero Athena fees plus free extra repayments and redraw

  • Mozo Experts Choice Low Cost Home Loan 2020

Our verdict

Online lender Athena is shaking up home loans 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. On top of that, to reward borrowers for paying down their home loan, Athena will now automatically lower your rate as you pay down your loan. Available to refinancers and first home buyers with 40% deposit, living in a capital or major regional city.

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

Well Home Loans Well Balanced
Well Home Loans
  • 2.17% variable rate (2.20% comparison rate*)

  • Free extra repayments and redraw facility

  • Multiple 2019 Mozo Experts Choice Award winner

Our verdict

Winner of a Mozo Experts Choice Award 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 >>

Virgin Money Special Offer Reward Me Fixed Rate Home Loan
Virgin Money
  • 2.04% fixed rate for 2 years (2.79% comparison rate*)

  • Make up to $10,000 p.a. of free extra repayments

  • Bonus $3000 cashback for refinancers

Our verdict

If attractively low rates are your thing, then the Reward Me Fixed Rate Home Loan from Virgin Money might just be your match. With super-low fixed rates starting from 2.04% (2.79% comparison rate*) for a 2 year term, you’ll have the stability of knowing exactly how much you’ll be paying every cycle. And if the crazy-low fixed rates weren’t enough, refinancers will also score a bonus $3000 cashback when you switch your loan to Virgin Money. Available to borrowers with a 20% deposit or more.

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

UBank UHomeLoan
  • New 1.75% fixed rate for 3 years (2.22% comparison rate*)

  • Free extra repayments up to $20,000 p.a.

  • Fast and easy online application process

Our verdict

Want to lock in an ultra low home loan rate but loathe the hassle of a long home loan application process? Calling UBank to the rescue! The UBank 3 year fixed rate UHomeLoan could be a great choice for borrowers who like the stability of a fixed rate and a super-speedy application process. It comes with conveniently flexible repayment options and the ability to make free extra repayments up to $20,000 each year so you can pay off your loan faster. 

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

HSBC 2 Year Fixed Rate Home Loan
  • 1.88% fixed rate for 2 years (2.98% comparison rate*)

  • No upfront application or ongoing service fees

  • Mozo Experts Choice Fixed Home Loan 2020

Our verdict

This competitive 2 year fixed rate home loan lets you guarantee your monthly repayments while still taking advantage of flexible features like the ability to make free extra repayments up to $10,000 a year. You can 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 >>

*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 2020. 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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