Gateway Bank introduces monthly LMI option for low deposit home buyers
There’s a common conundrum for many first time home buyers in Australia: save up for a 20% home loan deposit or purchase sooner with the added cost of lenders mortgage insurance (LMI).
It’s not an easy choice, particularly when LMI can cost thousands or tens of thousands of dollars - an expense which borrowers are typically required to either pay upfront or have ‘capitalised’ (added on to) their loans.
Customer owned lender Gateway Bank might have a more ‘flexible’ solution for their mortgage customers though, with yesterday’s announcement that it will now allow borrowers to pay their LMI premiums in monthly instalments.
According to Gateway, this is the first time an Australian bank has put this option on the table, and while it doesn’t do away with lenders mortgage insurance altogether, it could allow first time buyers to buy sooner, without that sizeable upfront cost.
“We want to help more Australians achieve their dream of home ownership,” says Gateway Bank chief executive, Lexi Airey. “It’s no secret that the biggest challenge for most first home buyers is saving for a 20% deposit, not whether they can afford the home loan repayments.”
“So, we partnered with Genworth, our LMI provider, to offer our customers who are buying their first home the flexibility to pay for LMI monthly.”
“Because the monthly LMI premium doesn’t affect your LVR, a greater portion of your loan can be used to buy your home. It might make the difference between buying your home now, instead of in another year or two.”
So what are the actual benefits? As Airey alluded to, there are a couple of potential advantages to the monthly LMI structure:
- No impact on LVR: Unlike lenders mortgage insurance which is capitalised into the loan, Gateway says monthly LMI premiums won’t impact a borrower's loan-to-value ratio (LVR). That could help prospective buyers save up for a deposit faster - potentially up to 95% of the property’s value.
- Payments stop at 80% LVR: Again, unlike LMI which is capitalised into the loan and paid off over time, monthly LMI premiums are paid separately. So once a borrower's LVR falls below the 80% threshold, monthly premium payments will stop.
As the chart below shows though, the benefit of the monthly LMI structure will likely be greatest for mortgage holders who are able to pay down their loan quickly.
Today’s announcement from Gateway is a timely one given that first time buyers are taking out home loans in near-record numbers.
The latest figures from the Australian Bureau of Statistics (ABS) show that 16,117 first home loan commitments were made in February which - while a slight drop on January’s figure - represent a 65.8% increase on the February 2020 number.
First home buyers have also continued to take advantage of the First Home Loan Deposit Scheme (FHLDS), with the federal government having recently reissued 1,800 spots for buyers looking to purchase an existing home.
RELATED: Do you have a 5% deposit ready? This home loan might work for you
Ready to make your first property move? Find a mortgage to suit your needs by comparing options from a range of lenders over at our first home loan comparison hub, or get started straight away by checking out the hot offers below.
Last updated 21 June 2025
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- Low Cost Home Loan - 2025
Unloan Variable Home Loan
- Owner occupier
- Principal & Interest
- 20% min deposit
- Redraw available
Go to site- Interest rate
-
5.49
%
p.a.
Variable
- Comparison rate
-
5.40
%
p.a.
- Initial monthly repayment
-
$2,836
- The first home loan with an increasing discount (conditions apply)
- No application or banking fees
- Built by CommBank
- interest rate
-
5.49% p.a. (5.40% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
no
- Other restrictions
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-
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Rate automatically discounted by 0.01% p.a. every year up to a maximum discount of 0.30% p.a..
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Fixed Rate Home Loan
- Fixed rate
- Owner occupier
- Principal & Interest
- 5% min deposit
Go to site- Interest rate
-
5.49
%
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Fixed 2 years
- Comparison rate
-
5.77
%
p.a.
- Initial monthly repayment
-
$2,836
- No ongoing annual fees
- Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
- Lock in for up to 5 years.
- interest rate
-
1 year - 5.69% p.a. (5.75% p.a. comparison rate)
2 years - 5.49% p.a. (5.77% p.a. comparison rate)
3 years - 5.59% p.a. (5.75% p.a. comparison rate)
4 years - 6.49% p.a. (6.04% p.a. comparison rate)
5 years - 6.49% p.a. (6.09% p.a. comparison rate)
- Fixed loan revert rate
-
5.73% p.a.
- Upfront fees
-
$300.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
95.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free up to $25,000 during fixed period
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Additional repayments allowed up to $25,000 during the fixed period.
- Other benefits
-
-
- Special Offers
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-
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Fixed Rate Home Loan
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- Owner occupier
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- Interest only
- 20% min deposit
Go to site- Interest rate
-
5.49
%
p.a.
Fixed 2 years
- Comparison rate
-
5.76
%
p.a.
- Initial monthly repayment
-
$2,836
- Free extra repayments of up to $25,000 during the fixed rate period.
- Split loan available
- Weekly, fortnightly, or monthly repayment options
- interest rate
-
1 year - 5.69% p.a. (5.81% p.a. comparison rate)
2 years - 5.49% p.a. (5.76% p.a. comparison rate)
3 years - 5.59% p.a. (5.76% p.a. comparison rate)
4 years - 6.49% p.a. (6.07% p.a. comparison rate)
5 years - 6.49% p.a. (6.12% p.a. comparison rate)
- Fixed loan revert rate
-
5.79% p.a.
- Upfront fees
-
$300.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest, Interest Only
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - free up to $25,000 during fixed period
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Legal and valuation fees charged at cost.
- Other benefits
-
-
- Special Offers
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5.53
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Variable
- Comparison rate
-
5.74
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p.a.
- Initial monthly repayment
-
$2,848
- $0 application fee to pay
- Apply in as little as 15 minutes
- interest rate
-
5.53% p.a. (5.74% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$495.40
- Ongoing fees
-
$15.00 monthly
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
90.00%
- minimum borrowing amount
-
$50,000
- maximum borrowing amount
-
$3,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$1.00
- Offset account
-
yes
- Split account
-
-
- Other restrictions
-
Settlement fee comprises of upfront fee and establishment fee. Valuation fee varies.
- Other benefits
-
-
- Special Offers
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Read reviews and learn more about NRMA Home Loans home loans
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Fixed Basic Home Loan
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5.29
%
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Fixed 2 years
- Comparison rate
-
5.52
%
p.a.
- Initial monthly repayment
-
$2,773
- $0 application fee to pay
- Additional repayments up to $20,000/year
- Apply in as little as 15 minutes
- interest rate
-
1 year - 5.54% p.a. (5.57% p.a. comparison rate)
2 years - 5.29% p.a. (5.52% p.a. comparison rate)
3 years - 5.29% p.a. (5.50% p.a. comparison rate)
4 years - 5.49% p.a. (5.56% p.a. comparison rate)
5 years - 5.49% p.a. (5.55% p.a. comparison rate)
- Fixed loan revert rate
-
5.53% p.a.
- Upfront fees
-
$495.40
- Ongoing fees
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$0.00
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$50,000
- maximum borrowing amount
-
$3,000,000
- type of mortgage
-
Fixed
- Repayment types
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Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - free, up to $20,000 p.a.
- Redraw facility
-
yes - manual redraws only
- Minimum redraw amount
-
$1.00
- Offset account
-
no
- Split account
-
-
- Other restrictions
-
Settlement fee comprises of upfront fee and establishment fee. Valuation fee varies.
- Other benefits
-
-
- Special Offers
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Fixed Offset Home Loan
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Go to site- Interest rate
-
5.29
%
p.a.
Fixed 2 years
- Comparison rate
-
5.69
%
p.a.
- Initial monthly repayment
-
$2,773
- $0 application fee to pay
- Additional repayments up to $20,000/year
- Apply in as little as 15 minutes
- interest rate
-
1 year - 5.54% p.a. (5.74% p.a. comparison rate)
2 years - 5.29% p.a. (5.69% p.a. comparison rate)
3 years - 5.29% p.a. (5.67% p.a. comparison rate)
4 years - 5.49% p.a. (5.72% p.a. comparison rate)
5 years - 5.49% p.a. (5.72% p.a. comparison rate)
- Fixed loan revert rate
-
5.53% p.a.
- Upfront fees
-
$495.40
- Ongoing fees
-
$15.00 monthly
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
90.00%
- minimum borrowing amount
-
$50,000
- maximum borrowing amount
-
$3,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - free, up to $20,000 p.a.
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$1.00
- Offset account
-
yes
- Split account
-
-
- Other restrictions
-
Settlement fee comprises of upfront fee and establishment fee. Valuation fee varies.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about NRMA Home Loans home loans
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Fixed Home Loan
- Fixed rate
- Owner occupier
- Principal & Interest
- 5% min deposit
- Redraw available
- Cashback
Go to site- Interest rate
-
5.29
%
p.a.
Fixed 2 years
- Comparison rate
-
5.72
%
p.a.
- Initial monthly repayment
-
$2,773
- Get up to $4,000 cashback (T&Cs apply)
- Up to 12 months repayments in advance without penalties
- Split loan available
- interest rate
-
1 year - 5.89% p.a. (5.82% p.a. comparison rate)
2 years - 5.29% p.a. (5.72% p.a. comparison rate)
3 years - 5.29% p.a. (5.69% p.a. comparison rate)
4 years - 5.89% p.a. (5.87% p.a. comparison rate)
5 years - 5.89% p.a. (5.89% p.a. comparison rate)
- Fixed loan revert rate
-
5.74% p.a.
- Upfront fees
-
$799.00
- Ongoing fees
-
$6.00 monthly
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
95.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free up to 1 year in advance
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$500.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Monthly fee only applies to fixed period of loan.
- Other benefits
-
-
- Special Offers
-
$4,000 cashback for loans $750,000 and above with a maximum LVR of 80%, settled within 90 days of application for refinancers or 180 for purchase loans. $3,000 for loans between $500k and $749k, $2,000 for loans between $250k and $499k.
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Mozo experts choice awards won:
- Low Cost Home Loan - 2025
Unloan Variable Home Loan
- Owner occupier
- Principal & Interest
- 20% min deposit
- Redraw available
Go to site- Interest rate
-
5.49
%
p.a.
Variable
- Comparison rate
-
5.40
%
p.a.
- Initial monthly repayment
-
$2,836
- The first home loan with an increasing discount (conditions apply)
- No application or banking fees
- Built by CommBank
- interest rate
-
5.49% p.a. (5.40% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
no
- Other restrictions
-
-
- Other benefits
-
Rate automatically discounted by 0.01% p.a. every year up to a maximum discount of 0.30% p.a..
- Special Offers
-
-
Read reviews and learn more about Unloan home loans
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OMG Home Loan
- Owner occupier
- Principal & Interest
- 40% min deposit
- Redraw available
Go to site- Interest rate
-
5.49
%
p.a.
Variable
- Comparison rate
-
5.52
%
p.a.
- Initial monthly repayment
-
$2,836
- No ongoing annual fees
- Pre-approval valid for 3 months
- interest rate
-
5.49% p.a. (5.52% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
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Fixed Rate Home Loan
- Fixed rate
- Owner occupier
- Principal & Interest
- Interest only
- 20% min deposit
Go to site- Interest rate
-
5.49
%
p.a.
Fixed 2 years
- Comparison rate
-
5.76
%
p.a.
- Initial monthly repayment
-
$2,836
- Free extra repayments of up to $25,000 during the fixed rate period.
- Split loan available
- Weekly, fortnightly, or monthly repayment options
- interest rate
-
1 year - 5.69% p.a. (5.81% p.a. comparison rate)
2 years - 5.49% p.a. (5.76% p.a. comparison rate)
3 years - 5.59% p.a. (5.76% p.a. comparison rate)
4 years - 6.49% p.a. (6.07% p.a. comparison rate)
5 years - 6.49% p.a. (6.12% p.a. comparison rate)
- Fixed loan revert rate
-
5.79% p.a.
- Upfront fees
-
$300.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest, Interest Only
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - free up to $25,000 during fixed period
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Legal and valuation fees charged at cost.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about P&N Bank home loans
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Fixed Rate Home Loan
- Fixed rate
- Owner occupier
- Principal & Interest
- 5% min deposit
Go to site- Interest rate
-
5.49
%
p.a.
Fixed 2 years
- Comparison rate
-
5.77
%
p.a.
- Initial monthly repayment
-
$2,836
- No ongoing annual fees
- Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
- Lock in for up to 5 years.
- interest rate
-
1 year - 5.69% p.a. (5.75% p.a. comparison rate)
2 years - 5.49% p.a. (5.77% p.a. comparison rate)
3 years - 5.59% p.a. (5.75% p.a. comparison rate)
4 years - 6.49% p.a. (6.04% p.a. comparison rate)
5 years - 6.49% p.a. (6.09% p.a. comparison rate)
- Fixed loan revert rate
-
5.73% p.a.
- Upfront fees
-
$300.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
95.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free up to $25,000 during fixed period
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Additional repayments allowed up to $25,000 during the fixed period.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
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- Offset Home Loan - 2025
- First Home Buyer Loan - 2025
Variable Basic Home Loan
- Owner occupier
- Principal & Interest
- 20% min deposit
- Redraw available
Go to site- Interest rate
-
5.53
%
p.a.
Variable
- Comparison rate
-
5.57
%
p.a.
- Initial monthly repayment
-
$2,848
- $0 application fee to pay
- Unlimited additional repayments
- Apply in as little as 15 minutes
- interest rate
-
5.53% p.a. (5.57% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$495.40
- Ongoing fees
-
$0.00
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$50,000
- maximum borrowing amount
-
$3,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - manual redraws only
- Minimum redraw amount
-
$1.00
- Offset account
-
no
- Split account
-
-
- Other restrictions
-
Settlement fee comprises of upfront fee and establishment fee. Valuation fee varies.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about NRMA Home Loans home loans
Go to site -
Variable Offset Home Loan
- Owner occupier
- Principal & Interest
- 10% min deposit
- Offset available
- Redraw available
Go to site- Interest rate
-
5.53
%
p.a.
Variable
- Comparison rate
-
5.74
%
p.a.
- Initial monthly repayment
-
$2,848
- $0 application fee to pay
- Apply in as little as 15 minutes
- interest rate
-
5.53% p.a. (5.74% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$495.40
- Ongoing fees
-
$15.00 monthly
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
90.00%
- minimum borrowing amount
-
$50,000
- maximum borrowing amount
-
$3,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$1.00
- Offset account
-
yes
- Split account
-
-
- Other restrictions
-
Settlement fee comprises of upfront fee and establishment fee. Valuation fee varies.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about NRMA Home Loans home loans
Go to site -
Flex Home Loan
- Fixed rate
- Owner occupier
- Principal & Interest
- 40% min deposit
- Offset available
- Redraw available
Go to site- Interest rate
-
5.53
%
p.a.
Fixed 2 years
- Comparison rate
-
5.86
%
p.a.
- Initial monthly repayment
-
$2,848
- Multiple offset accounts available
- Free extra repayments
- Easy redraw facility
- interest rate
-
1 year - 5.62% p.a. (5.88% p.a. comparison rate)
2 years - 5.53% p.a. (5.86% p.a. comparison rate)
3 years - 5.58% p.a. (5.87% p.a. comparison rate)
5 years - 5.79% p.a. (5.95% p.a. comparison rate)
- Fixed loan revert rate
-
5.64% p.a.
- Upfront fees
-
$250.00
- Ongoing fees
-
$250.00 yearly
- Discharge Fee
-
$300.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
-
- maximum borrowing amount
-
-
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
If the valuation is over $360, ubank will cover the first $360. Home loans with a term of greater than 30 years will only be available for owner-occupied P&I 80% LVR purchase applications.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about ubank home loans
Go to site -
Budget Home Loan
- Owner occupier
- Principal & Interest
- 20% min deposit
- Redraw available
- Cashback
Go to site- Interest rate
-
5.54
%
p.a.
Variable
- Comparison rate
-
5.57
%
p.a.
- Initial monthly repayment
-
$2,852
- Get up to $4,000 cashback (T&Cs apply)
- Split loan available
- interest rate
-
5.54% p.a. (5.57% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$350.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$350.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$500.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
-
- Other benefits
-
The $449 application fee is waived for <80% LVR Owner Occupier Principal and Interest loans.
- Special Offers
-
$4,000 cashback for loans $750,000 and above with a maximum LVR of 80%, settled within 90 days of application for refinancers or 180 for purchase loans. $3,000 for loans between $500k and $749k, $2,000 for loans between $250k and $499k.
Read reviews and learn more about IMB Bank home loans
Go to site -
Mozo experts choice awards won:
- First Home Buyer Loan - 2025
Variable Home Loan 90
- Owner occupier
- Principal & Interest
- 10% min deposit
- Offset available
- Redraw available
Go to site- Interest rate
-
5.54
%
p.a.
Variable
- Comparison rate
-
5.58
%
p.a.
- Initial monthly repayment
-
$2,852
- No monthly or ongoing fees
- Option to add an offset for 0.10% p.a.
- interest rate
-
5.54% p.a. (5.58% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$530.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
90.00%
- minimum borrowing amount
-
$50,000
- maximum borrowing amount
-
$2,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
Offset sub-account available for additional +0.10%. $300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about loans.com.au home loans
Go to site -
Basic Variable Home Loan
- Owner occupier
- Principal & Interest
- 40% min deposit
- Redraw available
Go to site- Interest rate
-
5.63
%
p.a.
Variable
- Comparison rate
-
5.66
%
p.a.
- Initial monthly repayment
-
$2,880
- No ongoing monthly loan maintenance fees
- Weekly, fortnightly, or monthly repayment options
- interest rate
-
5.63% p.a. (5.66% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Legal and valuation fees charged at cost.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about P&N Bank home loans
Go to site -
Neat Home Loan
- Owner occupier
- Principal & Interest
- 40% min deposit
- Redraw available
Go to site- Interest rate
-
5.64
%
p.a.
Variable
- Comparison rate
-
5.66
%
p.a.
- Initial monthly repayment
-
$2,883
- Free extra repayments
- Easy redraw facility
- No annual fee to pay
- interest rate
-
5.64% p.a. (5.66% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$250.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$300.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$80,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
no
- Other restrictions
-
If the valuation is over $360, ubank will cover the first $360. Home loans with a term of greater than 30 years will only be available for owner-occupied P&I 80% LVR purchase applications.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about ubank home loans
Go to site -
Offset Home Loan
- Owner occupier
- Principal & Interest
- 40% min deposit
- Offset available
- Redraw available
Go to site- Interest rate
-
5.64
%
p.a.
Variable
- Comparison rate
-
5.67
%
p.a.
- Initial monthly repayment
-
$2,883
- No ongoing monthly loan maintenance fees to pay.
- Pre-approval valid for 3 months
- interest rate
-
5.64% p.a. (5.67% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
n/a
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
-
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
Go to site -
Flex Home Loan
- Owner occupier
- Principal & Interest
- 40% min deposit
- Offset available
- Redraw available
Go to site- Interest rate
-
5.64
%
p.a.
Variable
- Comparison rate
-
5.89
%
p.a.
- Initial monthly repayment
-
$2,883
- Multiple offset accounts available
- Free extra repayments
- Easy redraw facility
- interest rate
-
5.64% p.a. (5.89% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$250.00
- Ongoing fees
-
$250.00 yearly
- Discharge Fee
-
$300.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
-
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
If the valuation is over $360, ubank will cover the first $360. Home loans with a term of greater than 30 years will only be available for owner-occupied P&I 80% LVR purchase applications.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about ubank home loans
Go to site
Your selected home loans
* 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
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.