Best home loans to crush your mortgage in 2021

Best home loan to crush your mortgage content

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 67 years of financial services experience to use to identify the best value home loan options for Aussie borrowers. This year, our experts compared 506 home loans from 99 lenders and awarded just the top 10% of loans with a 2021 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 in 2021.

Mortgage Crushing Home Loans Smart Booster Home Loan
  • 1.99% discount variable rate for 1 year

  • Rolls over to low ongoing 2.48% (2.47% comparison rate*)

  • Optional offset account for 0.10%

Our verdict

Popular online lender is a perennial award winner, and with offerings like the Smart Booster Home Loan it's not hard to see why. 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, it's no surprise the Smart Booster took out Best Low Cost Home Loan in the 2021 Mozo Experts Choice Awards.

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

Bank of Queensland Discount Fixed Rate
Bank of Queensland
  • 1.89% 2 year fixed rate (3.05% comparison rate*)

  • $3,000 cashback for refinancers (T&Cs apply)

  • Mozo Experts Choice Best Fixed Rate Home Loan 2021

Our verdict

BOQ is ticking all the boxes with borrowers looking to find great value outside of the big four banks, and rightly so. The BOQ Discounted Fixed Home Loan lets you secure a super low rate for two years while still having the flexibility to pay down your mortgage faster with free extra repayments of up to $5,000 per year. What’s more, you can enjoy a generous $3,000 cashback when you refinance to BOQ. Minimum loan size $250,000, 80% LVR or less.

UBank UHomeLoan
  • 1.75% fixed rate for 3 years (2.22% comparison rate*) - Limited time only!

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

  • Best Fixed Rate Home Loan 2021 - Mozo Experts Choice Awards

Our verdict

Borrowers looking to lock in while rates are at record lows will find it hard to go past this cracking fixed rate home loan designed by the clever folk at UBank to deliver peace of mind over your mortgage repayments without sacrificing flexibility. Extra repayments of up to $20,000 a year can be made during the fixed term without penalty, and you’ll also enjoy conveniently flexible repayment options plus zero ongoing fees.

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

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

  • Zero Athena fees plus free extra repayments and redraw

  • Mozo Experts Choice Home Loan Innovation Winner 2021

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 >>

86 400 Neat Home Loan
86 400
  • 2.19% variable rate (2.20% p.a. comparison rate*)

  • Free extra repayments & redraws

  • 2021 Mozo Experts Choice Multi-Award-winner

Our verdict

The just-landed Neat Home Loan from digital lender 86 400 offers variable interest rates from as low as 2.19% p.a. (2.20% p.a. comparison rate*) for owner-occupiers and from 2.44% p.a. (2.45% p.a. comparison rate*) for investors, low fees, plus a range of handy features, including free extra repayments and a free redraw facility. On top of all that, the loan is now offering a limited-time cashback deal, and it received not one, but two 2021 Mozo Experts Choice Awards.

Where do I get it? Head over to 86 400 to find out more >>

UBank UHomeLoan - Discount Offer
  • 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 variable rate, no fees to apply and no annual service fee, the UBank UHomeLoan is a great budget-friendly option for borrowers with 20% deposit that comes with the security of being backed by NAB. Features include free extra repayments, free redraw and the choice of monthly, fortnightly or weekly repayments to suit your budget. No wonder it was a slam dunk for a Mozo Experts Choice Low Cost Home Loan Award for 2021. 

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

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

  • Optional offset account for $10 per month

  • Free extra repayments and redraw facility

Our verdict

As one of the cheapest home loans in the market thanks to a new ultra-low variable rate, you can find your inner balance with the Well Balanced home loan from Well Home Loans. Winner of a Mozo Experts Choice Low Cost Home Loan Award 2021, this loan boasts a list of waived fees and charges to help you save even more money. You’ll also get free extra repayments, redraw and an optional offset account for $10 a month, so you can customise your loan to suit you.

Where do I get it? Head over to Well Home Loans 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 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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