Easy Street takes home loan rates below 2%
![](https://cdn.mozo.com.au/images/atwood/10855/easy-street-rates.jpg)
Easy Street, a division of Community First Union, introduced a contender for best value home loan this week. Its Standard Variable Home Loan now offers rates as low as 1.95% p.a. (1.99% p.a. comparison rate*) on loans of at least $750,000.
The loan doesn’t charge any monthly or annual fees and comes with a number of features, such as an offset account, fee-free redraw facility and the ability to make free extra repayments. There is, however, an application fee of $500.
John Tancevski, chief executive of Community First Credit Union said it was the lowest home loan rate they have ever offered and “is evidence that it is possible to offer an exceptionally low rate without scrimping on loan features.”
Are there other rates below 2%?
Among providers we track, the offering from Easy Street is the only variable rate home loan that’s crossed the 2% mark. However, a number of lenders have rolled out introductory rates in the same ballpark.
This includes offerings from loans.com.au like the Smart Booster (1.99% p.a. variable rate for 12 months) and Community First Credit Union’s Accelerator Home Loan (1.99% p.a. variable rate for 24 months).
Most recently, Reduce Home Loans launched its Rate Crusher home loan, which comes with a fixed rate of 1.90% p.a. (2.39% p.a. comparison rate*). This applies for one year before reverting to 2.39% p.a.
The loan is available to owner occupiers making principal and interest repayments. Importantly, it is limited to loans with an LVR of up to 80%, meaning you’ll need to have a deposit of at least 20% of a property’s value saved up to be eligible.
Customers will be able to borrow between $50,000 and $850,000 and extra repayments of up to $20,000 can be made each year without incurring penalty. While there aren’t any application or establishment fees, there will be a valuation fee of around $250 and legal fees of around $297.
The Rate Crusher joins only a handful of fixed rates in our database below 2%, such as the Homestar Star Classic, which offers rates as low as 1.98% (2.41% comparison rate*). However, this is available for a limited time only.
For information about all the latest moves in the market, read our September home loan snapshot. And if you’re after a loan and are not sure where to start, make our home loan comparison page your first stop.
Home loan comparisons on Mozo
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Featured Product
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Unloan Variable
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- 5.99% p.a. variable
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- 5.90% p.a.
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- 5.99% p.a. variable
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- 5.90% p.a.
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- $0
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- $0.00
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- yes - free
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Discount Great Rate Home Loan
Owner Occupier, Principal & Interest, LVR<80%, over $150k
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Initial monthly repayment6.04% p.a. variable6.06% p.a.An easy to use Home Loan with no establishment fee and no monthly or annual fees. Minimum deposit of 20% is required. Mozo Experts Choice Awards - Investor Home Loan Award 2024^.
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An easy to use Home Loan with no establishment fee and no monthly or annual fees. Minimum deposit of 20% is required. Mozo Experts Choice Awards - Investor Home Loan Award 2024^.
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- 6.04% p.a. variable
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- 6.06% p.a.
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- 6.04% p.a. variable
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- 6.06% p.a.
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- $180
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- $0.00
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- $300.00
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Basic Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR<70%
interest rate
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Initial monthly repayment6.25% p.a.
fixed 3 years6.20% p.a.No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $10,000,000.
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Discounted Home Value Loan
Owner Occupier, Principal & Interest, LVR 70-80%
interest rate
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Initial monthly repayment6.14% p.a. variable6.14% p.a.Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).
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Enjoy competitive rates for owner occupiers. Enjoy unlimited free extra repayments. Flexibility to redraw additional payments for free. No ongoing monthly service fee. Settlement fee waived on new borrowings from $50,000 (T&Cs apply).
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- $0
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- $0.00
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- $300.00
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Featured Product
Mozo experts choice awards won:
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Unloan Variable
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interest rate
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Initial monthly repayment6.29% p.a. variable6.20% p.a.Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for investors. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
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Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for investors. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- interest rate
- 6.29% p.a. variable
- comparison rate
- 6.20% p.a.
- interest rate
- 6.29% p.a. variable
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- 6.20% p.a.
- Upfront fees
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- $0.00
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* 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 $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. 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 Loan Awards
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