Best home loans to crush your mortgage in 2022


06 Dec 2021

Best hl to crush 2022 article image content

If saving money on your home loan in 2022 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 draw on their combined 67 years of financial services experience to identify the best value home loan options for Aussie borrowers. Our experts compared 506 home loans from 99 lenders and awarded only 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 in 2022.

Mortgage Crushing Home Loans Smart Booster Home Loan
  • 1.85% discounted variable rate for 2 years

  • Rolls over to low ongoing 2.25% (2.21% comparison rate*)

  • Optional offset account for 0.10%

Our verdict

Popular online lender is a perennial award winner, and their newest Smart Booster Home Loan took out a Mozo Expert Choice Award for Best Low Cost Home Loan 2021.^ 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, this loan is a must-see. Minimum 20% deposit required.

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

UBank UHomeLoan
  • 1.79% fixed rate for 1 year (2.18% comparison rate*)

  • Free extra repayments up to $20,000 during fixed term

  • 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 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 >>

Macquarie Offset Home Loan
  • Variable rates from just 2.14% (2.42% comparison rate*) - minimum 40% deposit

  • 100% offset account, redraw facility and extra repayments

  • Mozo Experts Choice Packaged Home Loan 2021^

Our verdict

This competitive packaged home loan from Macquarie has all the bells and whistles you'd expect of Australia's fifth largest lender, including 100% offset (up to 10 free offset accounts per loan account), free extra repayments and online redraws, a split loan option and even repayment holidays for those times in life when you need to hit pause. There's a $248 annual package fee but no upfront fees to worry about.

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

Athena Celebrate Variable Home Loan
  • New 1.89% variable and 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 >>

Yard Variable Home Loan Special
  • 1.99% variable rate (2.02% comparison rate*)

  • No upfront or ongoing fees

  • Best Low Cost Home Loan 2021 - Mozo Experts Choice Awards^

Our verdict

Looking for a home loan that could save you thousands without having to sacrifice flexible features like an offset account and redraw facility? Look no further than this Mozo Experts Choice Low Cost Home Loan^ from competitive new online lender Yard. This home loan ticks all the boxes, with an ultra low rate for borrowers with an 80% LVR plus unlimited additional repayments, free redraw, a 100% offset account for an extra $10 a month, and a simple online application that makes it easy to apply.

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

Bank of Queensland Discount Fixed Rate
Bank of Queensland
  • 2.59% fixed rate for 2 years (3.17% comparison rate*)

  • Bonus $3,000 cashback for refinancers - Limited time only

  • Mozo Experts Choice Fixed Rate Home Loan 2021^

Our verdict

BOQ is a favourite with borrowers looking to find value beyond the big four banks, and for good reason. The BOQ Discounted Fixed Home Loan won Best Fixed Home Loan 2021 in the Mozo Experts Choice Awards for its combination of low rates and flexibility. You can lock in a competitive rate for two years while still having the flexibility to pay down your mortgage faster with free extra repayments of up to $5,000 a year. Plus, refinancers can score a bonus cashback of $3,000 for a limited time only. Minimum loan size $250,000, 80% LVR or less.

UBank UHomeLoan - Discount Offer
  • 1.99% p.a. variable and comparison rate* special offer - Limited time only

  • $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.^ Apply by 31 January 2022.

Where do I get it? Head over to UBank 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 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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