With the RBA cutting the cash rate to a historical low of 1.00%, there’s never been a better time to get picky about your home loan, especially with some lenders slashing rates to below 3.00%!
So if you’ve been holding out for the right home loan, we’ve rounded up some hot home loan deals to get your search off to a smashing start.
Variable rate home loans
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Important disclosures and comparison rate warning*
Important disclosures
Advertiser disclosure
Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
We provide only general advice
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 Product Disclosure Statement (PDS) or offer documentation, or seeking independent advice. It is also advised to review Target Market Determination(TMD) of products that you are considering. The TMD can be found on the provider's website.
Comparison rate warning
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.
How Initial Monthly Repayments figures are estimated
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.
Well Home Loans - Well Balanced
Low 2.97% variable rate (2.99% comparison rate*)
2019 Mozo Experts Choice Award winner for Best New Home Loan
Life is all about balance and Well Home Loans seem to agree with its Well Balanced Home Loan. With this home loan, borrowers will enjoy a low 2.97% variable rate (2.99% comparison rate*) and no ongoing fees. And aside from the low rate, borrowers can save even further on interest by make additional repayments, as well as redraw these repayments whenever they need to. Just keep in mind you will need a 20% deposit to apply and there are a few fees to consider, like the $250 application, $385 legal and $150 settlement fee.
Homestar - Star Essentials Home Loan
Super low 2.99% variable rate (2.99% comparison rate*)
Whether you’re buying your first home or are looking to refinance, the HomeStar Star Essentials Home Loan could be the pick for you. With this loan, you’ll be able to take advantage of the super low 2.99% variable rate (2.99% comparison rate*), but you’ll need a 20% deposit to apply. Fees are kept to a minimum, as there are no application or monthly service fees, though there is a $535 discharge fee. However, refinancers borrowing between $200K to $850K are able to have this fee waived. And with the free extra repayments and redraw facility, you’ll be well on your way to paying off your loan in no time.
Fixed rate home loans
Mozo may receive payment if you click products on our site. Mozo does not compare the entire market.
Important disclosures and comparison rate warning*
Important disclosures
Advertiser disclosure
Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
We provide only general advice
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 Product Disclosure Statement (PDS) or offer documentation, or seeking independent advice. It is also advised to review Target Market Determination(TMD) of products that you are considering. The TMD can be found on the provider's website.
Comparison rate warning
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.
How Initial Monthly Repayments figures are estimated
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.
Bank of Queensland - Fixed Rate
Low 2.99% fixed three year rate (4.19% comparison rate*)
But if you prefer the security of a fixed rate, you might want to consider the Bank of Queensland Fixed Rate. Aside from offering a low 2.99% fixed three year rate (4.19% comparison rate*), borrowers who apply and are approved by 30 July 2019 will also receive $1000 cash back! And if you’re a borrower struggling to come up with a 20% deposit, rest easy knowing you’ll be able to apply for the Fixed Rate home loan with a 5% deposit. You’ll also be able to take advantage of the free extra repayments facility (up to $5,000 annually) and split your loan to enjoy a low variable rate. Just keep in mind, you will have to factor in the $300 application and $10 monthly service fee.
UBank - UHomeLoan
Low 2.99% fixed one year rate (3.86% comparison rate*)
Last but certainly not least on our list is the UBank UHome Loan. Borrowers with a 20% deposit will be able to apply for the 2.99% fixed one year rate (3.86% comparison rate*) and pay no service fees, though there is a $395 application fee to consider. Free extra repayments of up to $20,000 are available every year, just remember there is no redraw facility. The UBank UHome Loan also received two 2019 Mozo Experts Choice Awards in the Fixed Rate and Investor Fixed Home Loan categories, so you know you’ll be onto a winner.
And if you’d like to compare even more home loan options, head on over to our home loan comparison tool.
*
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.
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.
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Our goal at Mozo is to help you make smart financial decisions and our award-winning comparison tools and services are provided free of charge. As a marketplace business, we do earn money from advertising and this page features products with Go To Site links and/or other paid links where the provider pays us a fee if you go to their site from ours, or you take out a product with them. You do not pay any extra for using our service.
We are proud of the tools and information we provide and unlike some other comparison sites, we also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not.
'Sponsored', 'Hot deal' and 'Featured Product' labels denote products where the provider has paid to advertise more prominently.
'Mozo sort order' refers to the initial sort order and is not intended in any way to imply that particular products are better than others. You can easily change the sort order of the products displayed on the page.
Important information on terms, conditions and sub-limits
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
