Resimac drops variable home loan rates to new lows

Non-bank lender Resimac has slashed 30 basis points off its variable rate home loan this week, bringing its offer down to one of the lowest in the Mozo database.
The reduction means that for a limited time, the Resimac Prime Flex sits at an ultra competitive rate of 2.29% (2.66% comparison rate*) for owner occupiers with loan-to-value ratios (LVR) of up to 70%.
Meanwhile for owner occupiers with LVRs between 70%-80%, the rate also has fallen by 30 basis points to 2.39% (2.76% comparison rate*).
Both new rates are available on loan amounts ranging from $150,000 up to $2 million, and come with a 100% offset account, as well as other flexible features including free extra repayments, a free redraw facility and a split account. Just bear in mind you'll need to budget for a $330 upfront valuation fee and a $299 yearly service fee.
Resimac joins a series of other lenders who have also cut their variable rates recently as competition for borrowers remains heated in the home loan market.
Among home loans with an offset account, the Resimac Prime Flex now has the third lowest rate in our database, sharing that spot with four other lenders (FreedomLend, Homestar, Reduce Home Loans, and Yard).
For further comparison, Resimac’s new 80% LVR rate is a massive 95 basis points below the current average variable rate of 3.34%.
In other words, if you’re borrowing $400,000 over 25 years with an 80% LVR, Resimac’s rate could save you as much as $58,783 in total interest paid over the life of the loan, compared to the average variable rate.
Scroll down to compare Resimac’s new offer against other home loans with an offset account. Or if you’re interested in weighing up even more deals from 80 different lenders, be sure to visit our home loans comparison table.
Compare offset home loans - last updated 13 August 2022
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Smart Booster Home Loan
2 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
variable rate
comparison rate
Initial monthly repayment3.60% p.a.variable for 24 months and then 4.00% p.a.3.96% p.a.Already includes July RBA rate increase. New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.
CompareCompareSmart Booster Home Loan
Already includes July RBA rate increase. New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.
- variable rate
- 3.60% p.a.variable for 24 months and then 4.00% p.a.
- comparison rate
- 3.96% p.a.
- variable rate
- 3.60% p.a.variable for 24 months and then 4.00% p.a.
- comparison rate
- 3.96% p.a.
- Upfront fees
- $520
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- Optional - with 0.10% additional interest
- Maximum loan to value ratio
- 80.00%
- Minimum loan amount
- $50,000
- Maximum loan amount
- $2,000,000
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
Read our Mozo Review to learn more about the Smart Booster Home Loan
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Unloan Variable
Owner Occupier, Refinance Only
variable rate
comparison rate
Initial monthly repayment3.14% p.a.3.06% p.a.For refinancers only. 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 in as little as 10 minutes.
CompareCompareUnloan Variable
For refinancers only. 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 in as little as 10 minutes.
- variable rate
- 3.14% p.a.
- comparison rate
- 3.06% p.a.
- variable rate
- 3.14% p.a.
- comparison rate
- 3.06% p.a.
- Upfront fees
- $0
- Ongoing fees
- -
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- no
- Maximum loan to value ratio
- 80.00%
- Minimum loan amount
- $10,000
- Maximum loan amount
- $3,000,000
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
Read our Mozo Review to learn more about the Unloan Variable
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Offset Home Loan
Owner Occupier, LVR<60%, Principal & Interest
variable rate
comparison rate
Initial monthly repayment3.69% p.a.3.94% p.a.Ability to open up to 10 offset accounts per loan account. 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). Apply online in as little as 15 minutes.
CompareCompareOffset Home Loan
Ability to open up to 10 offset accounts per loan account. 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). Apply online in as little as 15 minutes.
- variable rate
- 3.69% p.a.
- comparison rate
- 3.94% p.a.
- variable rate
- 3.69% p.a.
- comparison rate
- 3.94% p.a.
- Upfront fees
- $0
- 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 loan amount
- $150,000
- Maximum loan amount
- $5,000,000
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Monthly
- Special Offers
Read our Mozo Review to learn more about the Offset Home Loan
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PAYG Home Loan
Owner Occupier, Principal & Interest, LVR<80%
variable rate
comparison rate
Initial monthly repayment3.29% p.a.3.33% p.a.Low variable rate. Ideal for new home buyers or refinancers. Unlimited additional repayments. Unlimited free redraw. Application completely online. Optional 100% offset can be added for $120 p.a.. 20% deposit required.
CompareComparePAYG Home Loan
Low variable rate. Ideal for new home buyers or refinancers. Unlimited additional repayments. Unlimited free redraw. Application completely online. Optional 100% offset can be added for $120 p.a.. 20% deposit required.
- variable rate
- 3.29% p.a.
- comparison rate
- 3.33% p.a.
- variable rate
- 3.29% p.a.
- comparison rate
- 3.33% p.a.
- Upfront fees
- $840
- Ongoing fees
- $0.00
- Discharge Fee
- $500.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- Optional - $10 per month
- Maximum loan to value ratio
- 80.00%
- Minimum loan amount
- $250,000
- Maximum loan amount
- $3,000,000
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
Read our Mozo Review to learn more about the PAYG Home Loan
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Celebrate Variable Home Loan
<60% LVR, Owner Occupier, Principal & Interest
variable rate
comparison rate
Initial monthly repayment3.79% p.a.3.79% p.a.Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required.
CompareCompareCelebrate Variable Home Loan
Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required.
- variable rate
- 3.79% p.a.
- comparison rate
- 3.79% p.a.
- variable rate
- 3.79% p.a.
- comparison rate
- 3.79% p.a.
- Upfront fees
- $0
- Ongoing fees
- $0.00
- Discharge Fee
- $0.00
- Extra repayments
- yes - free
- Redraw facility
- yes - free
- Offset account
- yes
- Maximum loan to value ratio
- 60.00%
- Minimum loan amount
- $100,000
- Maximum loan amount
- $2,000,000
- Type of loan
- Variable
- Repayment types
- Principal & Interest
- Availability
- Owner Occupier
- Repayment options
- Weekly, Fortnightly, Monthly
- Special Offers
Read our Mozo Review to learn more about the Celebrate Variable Home Loan
* 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.
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