The low rate home loan hit-list: June 2022

With interest rates on the rise again this month and the era of record low rates behind us, there's never been a better time to compare your current home loan against the best on market and see how much you could save by switching.

Our analysis reveals that there is a huge difference between the average home loan rate and the lowest in our database. In fact, the average big 4 bank borrower with a $400K owner occupier home loan could save up to $4,024 a year by switching.

Mozo compares over 500 home loans from more than 80 lenders, and our experts have done the hard work for you by scouring our database to uncover some of the lowest rate home loans on the market right now.

Read on for our Mozo Expert reviews of some of June’s lowest home loans and see how much you could be saving….


5 of the lowest home loans in Australia: June 2022

UBank - Neat Home Loan
  • Variable rates from just 2.64% (2.65% comparison rate*) - min 40% deposit
  • Free extra repayments and redraw facility
  • Fast and paperless online application process

UBank has made a name for itself as one of Australia's best value online lenders, and its new Neat Home Loan is a case in point. This low cost variable home loan rewards borrowers with lower loan-to-value-ratios (LVRs) with its best rates, while also being light on fees. Features include free extra repayments and redraw. Plus, UBank is backed by NAB so you get all of the savings an online lender can offer, as well as the security of big bank backing.


Where do I get it?Head over to UBank to find out more >>

Unloan - Variable Home Loan
  • 2.64% variable rate (2.56% comparison rate*)
  • Zero upfront or ongoing fees
  • Refinancers only

Unloan is a stellar new digital home loan built by CommBank, offering owner-occupiers a low 2.64% variable rate (2.56% comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for refinance loans of up to $3M. Minimum 80% LVR.

Where do I get it? Head over to Unloan to find out more >>

loans.com.au - Smart Booster Home Loan
  • 2.60% discount variable rate for 2 years (2.96% comparison rate*)
  • Free redraws and extra repayments
  • Optional offset account

This low rate, low fee home loan could help you save thousands on your mortgage and is packed with useful features like unlimited free extra repayments and redraw, multiple loan split options and an optional offset account for 0.10%. With all this on offer the Smart Booster Home Loan really is a smart choice for borrowers who are looking to save money on interest and get mortgage free faster. You can borrow up to $1 million with this loan with a 20% deposit, and pay no ongoing monthly fees.

Where do I get it? Head over to loans.com.au to find out more >>

Yard - Variable Home Loan
  • 2.64% variable rate (2.66% comparison rate*)
  • Free extra repayments and redraw + optional offset account
  • Available to borrowers with 40% deposit or equity

Yard ticks all the boxes with this low rate digital home loan for borrowers looking to keep their costs to a minimum. Features include unlimited free additional repayments, free redraw and an optional 100% offset account for an extra $10 a month. You'll need to budget for $530 in upfront fees to cover settlement and legals, but there are no ongoing account or annual fees.

Where do I get it? Head over to Yard to find out more >>

HSBC - Discounted Home Value Loan
  • 2.77% variable rate (2.78% comparison rate*) for borrowers with 70% LVR
  • Enjoy free extra repayments, online redraw and no ongoing fees
  • $3,288 cashback for refinancers - limited time only

HSBC is a favourite with borrowers looking to find value outside of the big four banks, and for good reason. This loan comes with all of the features you'd expect from a bank, including free extra repayments, a free online redraw facility, an optional split account and a dedicated relationship manager to guide you through the application process. And if you're refinancing $250,000 or more to HSBC, you can enjoy a generous $3,288 cashback for a limited time.

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Want to compare more home loans? View the latest mortgage rates from over 80 lenders at Mozo's home loan comparison hub.

* 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, loan amount and term entered. 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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