Get smart about your mortgage with the new loans.com.au home loan offer
![](http://cdn.mozo.com.au/images/atwood/8784/Loans_smart_home_loan_content.jpg)
As the saying goes, ‘work smarter, not harder’, and paying off your home loan is no exception.
And if you’ve been on the hunt for a home loan that’s competitive, easy to manage and low on fees, we’ve got good news for you.
Online lender, loans.com.au have just launched their new home loan - the Smart Home Loan - which is now available to both buyers and refinancers.
The Smart Home Loan features a competitive 3.48% variable rate (3.50% comparison rate*), with a maximum LVR of 80%, which if you’re a first homebuyer, means you’ll need a 20% deposit to apply.
There are also no application, ongoing or exit fees with this home loan, making it a great cost cutting option for first homebuyers.
“Loans.com.au have a history of offering good value products to prospective homeowners - their 2018 Mozo Experts Choice Award win for Low Cost Home Loan is proof of that,” said Mozo Product Data Manager, Peter Marshall.
RELATED: Earn double Velocity Points with Virgin Money’s new home loan offer for first home buyers
Borrowers looking to apply for the Smart Home Loan will also be given the option of choosing either a weekly, fortnightly or monthly repayment schedule.
Extra repayments are also available with the Smart Home Loan, which could be good news for borrowers looking to cut down on interest wherever they can. And if they ever need those extra repayments back for whatever reason, there is a free redraw facility available.
However, it’s also worth mentioning that an offset account is not available with the Smart Home Loan and there is also a $300 settlement fee to consider.
RELATED: New way to borrow takes Australia by storm
How the Smart Home Loan stacks up
With all the buzz surrounding the new loans.com.au Smart Home Loan, we thought it might be a good idea to pull out our home loan repayments calculator to show it compares to the average variable rate in the Mozo database.
If you took out a $400,000 loan, with an LVR of 80%, to be repaid with P&I repayments over 30 years with the current average variable rate in the Mozo database of 4.34%, your monthly repayments would total $1,989.
Now say you took out the same loan on the same terms but on the Smart Home Loan rate of 3.48%, your monthly repayments would drop to $1,792 - a monthly saving of $197 or, $2,364 a year.
RELATED: Athena: The new home loan lender that’s trying to get rid of customers
Securing yourself against a rate hike
But if you prefer the comfort of locking in your rate, but still want the perks of the Smart Home Loan, then you might also want to know about the Smart Home Loan Package, which has just had its 2 year fixed rate cut by 10 basis points, dropping from 3.89% to 3.79% (3.92% comparison rate*).
Investors looking to fix their rate for two years with the Smart Home Loan Package will also be able to take advantage of a rate cut of 10 basis points, from 3.89% to 3.79% (4.32% comparison rate*).
And if you’d like to check out other home loan offers then head on over to our home loan comparison tool.
Home loan comparisons on Mozo
Promoted
-
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
Unloan Variable
- Owner Occupier
- LVR <80%
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.90
%
p.a.
- Initial monthly repayment
-
$2,995
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.90
%
p.a.
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge fee
-
$0.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- 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
- Special offers
- -
Read our Mozo Review to learn more about this Unloan Unloan Variable
-
Basic Home Loan
- Owner Occupier
- LVR<60%
- Principal & Interest
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.16
%
p.a.
- Initial monthly repayment
-
$3,043
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.16
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$400.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 60.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Macquarie Basic Home Loan
-
Neat Home Loan
- Owner Occupier
- Principal & Interest
- LVR <60%
- Interest rate
-
6.09
%
p.a.
Variable
- Comparison rate
-
6.11
%
p.a.
- Initial monthly repayment
-
$3,027
Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.
- Interest rate
-
6.09
%
p.a.
Variable
- Comparison rate
-
6.11
%
p.a.
- Upfront fees
-
$250
- Ongoing fees
-
$0.00
- Discharge fee
-
$300.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- 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
- Special offers
- -
Read our Mozo Review to learn more about this ubank Neat Home Loan
-
Special Real Deal Home Loan
- Owner Occupier
- Principal & Interest
- LVR <80%
- Interest rate
-
6.09
%
p.a.
Variable
- Comparison rate
-
6.13
%
p.a.
- Initial monthly repayment
-
$3,027
Refinancers or first home buyers pay no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and credit criteria apply.
- Interest rate
-
6.09
%
p.a.
Variable
- Comparison rate
-
6.13
%
p.a.
- Upfront fees
-
$595
- Ongoing fees
-
$0.00
- Discharge fee
-
$250.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - fees apply
- Offset account
-
no
- Maximum loan to value ratio
- 80.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- -
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special offers
- $2,000 online cashback when for refinance or purchase loans of $250,00 -$499,999.99, $3,000 for loan amounts of >$500,000.
Read our Mozo Review to learn more about this Newcastle Permanent Special Real Deal Home Loan
-
Optimum Fixed Rate Home Loan
- Owner Occupier
- Principal & Interest
- Interest rate
-
5.69
%
p.a.
Fixed 3 years
- Comparison rate
-
6.34
%
p.a.
- Initial monthly repayment
-
$2,899
Lock in a competitive interest rate and enjoy peace of mind for the fixed period. Available for owner occupied new and refinanced home loans with at least 20% deposit. Split option available as well as offset and redraw. Noapplication, ongoing or banking fees. Third Party fees may be applicable - payable within loan repayments. Extra repayments up to $20K per annum permitted. Apply online, 100% member owned credit union.
- Interest rate
-
5.69
%
p.a.
Fixed 3 years
- Comparison rate
-
6.34
%
p.a.
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge fee
-
- Extra repayments
-
yes - free up to $20,000 p.a. during fixed rate term
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 80.00%
- Minimum borrowing amount
- -
- Maximum borrowing amount
- $2,500,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special offers
- -
Read our Mozo Review to learn more about this South West Slopes Bank Optimum Fixed Rate Home Loan
-
Mozo experts choice awards won:
- Low Cost Home Loan - 2024
Unloan Variable
- Owner Occupier
- LVR <80%
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.90
%
p.a.
- Initial monthly repayment
-
$2,995
Built by CommBank, the Unloan is the first home loan with an increasing discount (conditions apply) for borrowers. No application or banking fees. No monthly account keeping or early exit fees. Apply online in minutes.
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
5.90
%
p.a.
- Upfront fees
-
$0
- Ongoing fees
-
$0.00
- Discharge fee
-
$0.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- 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
- Special offers
- -
Read our Mozo Review to learn more about this Unloan Unloan Variable
-
OMG Home Loan
- Owner Occupier
- Principal & Interest
- <60% LVR
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
6.02
%
p.a.
- Initial monthly repayment
-
$2,995
BCU Bank’s OMG owner occupied home loan offers a variety of great low rates depending on your deposit. Save with no ongoing annual fees. Access your extra payments when you need to through the redraw facility. Pre-approval valid for 3 months.
- Interest rate
-
5.99
%
p.a.
Variable
- Comparison rate
-
6.02
%
p.a.
- Upfront fees
-
$300
- Ongoing fees
-
$0.00
- Discharge fee
-
$395.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 60.00%
- Minimum borrowing amount
- $20,000
- Maximum borrowing amount
- $1,500,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special offers
- -
Read our Mozo Review to learn more about this BCU Bank OMG Home Loan
-
Flex Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR <60%
- Interest rate
-
5.99
%
p.a.
Fixed 3 years
- Comparison rate
-
6.34
%
p.a.
- Initial monthly repayment
-
$2,995
Competitive Fixed rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
- Interest rate
-
5.99
%
p.a.
Fixed 3 years
- Comparison rate
-
6.34
%
p.a.
- Upfront fees
-
$250
- Ongoing fees
-
$250.00 yearly
- Discharge fee
-
$300.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
yes
- 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
- Special offers
- -
Read our Mozo Review to learn more about this ubank Flex Home Loan
-
Mozo experts choice awards won:
- Exceptional Value Home Lender - 2024
Express Home Loan
- Owner Occupier
- Principal & Interest
- LVR <90%
- Interest rate
-
6.01
%
p.a.
Variable
- Comparison rate
-
6.14
%
p.a.
- Initial monthly repayment
-
$3,001
Get online approval from the award-winning Bendigo Bank Express Home Loan. Multiple offset accounts and redraw available. 100% offset on variable rate loans and partial offset on fixed rate. Flexible repayment options. New home loans only.
- Interest rate
-
6.01
%
p.a.
Variable
- Comparison rate
-
6.14
%
p.a.
- Upfront fees
-
$134
- Ongoing fees
-
$10.00 monthly
- Discharge fee
-
$350.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
yes
- Maximum loan to value ratio
- 90.00%
- Minimum borrowing amount
- $5,000
- Maximum borrowing amount
- $3,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Bendigo Bank Express Home Loan
-
Neat Home Loan
- Owner Occupier
- Principal & Interest
- LVR <60%
- Interest rate
-
6.09
%
p.a.
Variable
- Comparison rate
-
6.11
%
p.a.
- Initial monthly repayment
-
$3,027
Competitively-priced variable rate loan. Ideal for owner occupiers and investors. No service fees to pay. Make free extra repayments and redraws. Flexible repayment schedule available.
- Interest rate
-
6.09
%
p.a.
Variable
- Comparison rate
-
6.11
%
p.a.
- Upfront fees
-
$250
- Ongoing fees
-
$0.00
- Discharge fee
-
$300.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- 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
- Special offers
- -
Read our Mozo Review to learn more about this ubank Neat Home Loan
-
Special Real Deal Home Loan
- Owner Occupier
- Principal & Interest
- LVR <80%
- Interest rate
-
6.09
%
p.a.
Variable
- Comparison rate
-
6.13
%
p.a.
- Initial monthly repayment
-
$3,027
Refinancers or first home buyers pay no monthly or annual fees. Up to $3,000 cashback when you complete your home loan application online. $2,000 cashback on loans ≥$250K; or $3,000 cashback on loans ≥$500K. LVR ≤80%. T&Cs and credit criteria apply.
- Interest rate
-
6.09
%
p.a.
Variable
- Comparison rate
-
6.13
%
p.a.
- Upfront fees
-
$595
- Ongoing fees
-
$0.00
- Discharge fee
-
$250.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - fees apply
- Offset account
-
no
- Maximum loan to value ratio
- 80.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- -
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special offers
- $2,000 online cashback when for refinance or purchase loans of $250,00 -$499,999.99, $3,000 for loan amounts of >$500,000.
Read our Mozo Review to learn more about this Newcastle Permanent Special Real Deal Home Loan
-
Basic Home Loan
- Owner Occupier
- LVR<60%
- Principal & Interest
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.16
%
p.a.
- Initial monthly repayment
-
$3,043
Enjoy a low rate home loan with $0 application fee and $0 ongoing fees. Flexibility to split your loan and set different repayment types. Fee free redraw from your loan using online banking. Flexible ways to repay. 40% Deposit required.
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.16
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$400.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 60.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Macquarie Basic Home Loan
-
Flex Home Loan
- Owner Occupier
- Principal & Interest
- LVR <60%
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.38
%
p.a.
- Initial monthly repayment
-
$3,043
Competitive variable rate. Multiple offset accounts available. Borrowers can also make extra repayments. Redraw facility available. Simple online application process. 40% deposit required.
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.38
%
p.a.
- Upfront fees
-
$250
- Ongoing fees
-
$250.00 yearly
- Discharge fee
-
$300.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
yes
- 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
- Special offers
- -
Read our Mozo Review to learn more about this ubank Flex Home Loan
-
Offset Home Loan
- Owner Occupier
- LVR<60%
- Principal & Interest
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.39
%
p.a.
- Initial monthly repayment
-
$3,043
Ability to open up to 10 offset accounts per loan account. Fast online application. Linked Debit Mastercard® with fee-free access at ATMs across Australia. Package a credit card with your home loan and the annual card fee will be waived (T&Cs apply). 40% deposit required.
- Interest rate
-
6.14
%
p.a.
Variable
- Comparison rate
-
6.39
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$248.00 yearly
- Discharge fee
-
$400.00
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Offset account
-
yes
- Maximum loan to value ratio
- 60.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Macquarie Offset Home Loan
-
Basic Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR<70%
- Interest rate
-
6.25
%
p.a.
Fixed 3 years
- Comparison rate
-
6.20
%
p.a.
- Initial monthly repayment
-
$3,079
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.
- Interest rate
-
6.25
%
p.a.
Fixed 3 years
- Comparison rate
-
6.20
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$0.00
- Discharge fee
-
$400.00
- Extra repayments
-
yes - up to $10,000 p.a.
- Redraw facility
-
yes - free
- Offset account
-
no
- Maximum loan to value ratio
- 70.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Macquarie Basic Home Loan
-
Offset Home Loan
- Fixed
- Owner Occupier
- Principal & Interest
- LVR <70%
- Interest rate
-
6.25
%
p.a.
Fixed 3 years
- Comparison rate
-
6.42
%
p.a.
- Initial monthly repayment
-
$3,079
- Interest rate
-
6.25
%
p.a.
Fixed 3 years
- Comparison rate
-
6.42
%
p.a.
- Upfront fees
-
$350
- Ongoing fees
-
$248.00 yearly
- Discharge fee
-
$400.00
- Extra repayments
-
yes - up to $10,000 p.a.
- Redraw facility
-
yes - free
- Offset account
-
yes
- Maximum loan to value ratio
- 70.00%
- Minimum borrowing amount
- $150,000
- Maximum borrowing amount
- $10,000,000
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special offers
- -
Read our Mozo Review to learn more about this Macquarie Offset Home Loan
-
Fixed Rate
- Owner Occupier
- Principal & Interest
- <80% LVR
- Interest rate
-
6.54
%
p.a.
Fixed 2 years
- Comparison rate
-
7.10
%
p.a.
- Initial monthly repayment
-
$3,174
Enjoy up to $3000 cashback for eligible first home buyers and $2000 cashback for refinancers on eligible home loans with the ANZ Fixed Rate Home Loan. Get the security of repayment certainty with a competitive locked in rate. No ongoing fees to pay. Offset account on 1-year fixed loans ($10/month fee applies). Interest-only payments allowed.
- Interest rate
-
6.54
%
p.a.
Fixed 2 years
- Comparison rate
-
7.10
%
p.a.
- Upfront fees
-
$160
- Ongoing fees
-
$0.00
- Discharge fee
-
$160.00
- Extra repayments
-
yes - free up to to lesser of 5% of original fixed loan amount, or $5,000 each year
- Redraw facility
-
no
- Offset account
-
Optional - $10 per month - 1 year fixed term only
- Maximum loan to value ratio
- 80.00%
- Minimum borrowing amount
- $20,000
- Maximum borrowing amount
- -
- Type of mortgage
- Fixed
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special offers
- $3,000 cashback for eligible First Home Buyers, $2,000 cashback when you refinance loans of $250k+, apply from 1 Dec 2022, settle within 180 days.
Read our Mozo Review to learn more about this ANZ Fixed Rate
Want to speak to someone about refinancing?
Our partner Lendi can help with that. All they need is a few details to get started.
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.