Hot home loan rates starting with a 2

The RBA has cut official interest rates for the third time this year, and already a handful of lenders have responded by slashing rates across their range of variable rate home loans. Right now, if your home loan doesn’t have a ‘2’ in front of it, you’re missing out. 

Online lenders are leading the charge. Since they don’t face the same cost pressures as the big banks, they’ve been able to pass on the bulk of the past three official rate cuts to their customers — scoring a lot of goodwill along the way.

So if you’re looking to get serious about finding a home loan, there’s never been a better time. We’ve compiled some fantastic variable rate options below to help put you on the right track.

Athena - Liberate Variable Home Loan
  • 2.84% p.a. variable rate (2.80% comparison rate*)
  • Free extra repayments and redraw facility
  • No application fees or ongoing fees
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When Athena talks about helping you get rid of your home loan, it’s not messing around. The online lender rushed out the gate within minutes of the RBA’s decision this month with news it will be cutting its variable rates by 0.25%. That means the Athena Variable Rate Home Loan will now be offering an impressive 2.84% p.a. variable rate (2.80% p.a. comparison rate*). On top of that, you’ll be able to pay down your loan more frequently without being slapped with any fees, and if you’re able to stay on top of your repayments in a year, you’ll be treated to a 0.01% loyalty discount for each of the first five years.

Homestar - Star Essentials Home Loan
  • Super low 2.74% p.a. variable rate (2.77% p.a. comparison rate*)
  • Free extra repayments and redraw facility
  • Discharge fee waived if the loan goes to full term
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Along with Athena, Homestar has been leading the way in the fight against high interest rates. A reduction of 0.25% this October sees its Star Essentials Home Loan - which was already sporting some seriously low rates - drop all the way down to 2.74% p.a. (2.77% p.a. comparison rate*). Along with those rates, you’ll also be able to make extra repayments without being penalised, plus take advantage of a free redraw account in case you want to retrieve those funds. Just keep in mind there’s a $535 discharge fee, but that will be waived if your loan goes to full term.

Tic:Toc - Variable Home Loan
  • 2.84% p.a. variable rate (2.85% p.a. comparison rate*)
  • Free extra repayments and redraw facility
  • Offset account available for $10 per month
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The Tic:Toc Variable Home Loan is looking much sharper following this month’s rate cut, now offering customers a stellar 2.84% p.a. variable rate (2.85% p.a. comparison rate*). There are very few fees you’ll have to worry about apart from the $325 discharge fee, and extra repayments and a redraw facility are both free. To cap it off, the fintech lender boasts a speedy online application process, dedicated phone and internet customer support, plus the title of 2019 Mozo Experts Choice Online Home Lender of the Year^.

UBank - UHomeLoan - Discount Offer
  • 2.84% p.a. for loans over $200,000 (2.84% p.a. comparison rate*) - Apply now to get this rate as of 29 October
  • Free extra repayments and redraw facility
  • No annual fees
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Following a 0.25% reduction this month - which will be available to customers as of 29 October - the UBank UHomeLoan Discount Offer will come with a 2.84% p.a. variable rate (2.84% p.a. comparison rate*) if you’re borrowing more than $200,000. You’ll be able to make free extra repayments, and a redraw facility is available in case you want those back down the line. You’ll also be happy to learn that there are no upfront or ongoing fees. Just keep in mind that the Discount Offer is only available on new variable rate UHomeLoan applications, so if you already have a UHomeLoan you won’t be eligible. - Smart Home Loan 80
  • Low 2.88% p.a. variable rate (2.90% p.a. comparison rate*)
  • Free extra repayments and redraw facility
  • No application or ongoing fees
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The Smart Home Loan from keeps things nice and simple, offering customers variable rates as low as 2.88% p.a. (2.90% p.a. comparison rate*), and plenty of useful features to boot. Along with the ability to make free extra repayments and access a redraw facility, you’ll be able to manage your mortgage using the Smart Money app, plus set up direct debit payments to make sure you never fall behind. And to cap it off, there are no monthly or ongoing fees, so your journey to home ownership can go as smooth as possible.

Want to take a look at even more great home loan options? Make our home loan comparison page your next stop.

^2019 Mozo Experts Choice Awards

* 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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