Top online mortgage lenders in Australia

The Smart Home Loan’s features read like a laundry list of everything you’d want from a home loan. For starters, it picked up a win in the Low Cost Home Loan category in this year’s Mozo Experts Choice Awards^ for its competitive 2.48% p.a. variable rate (2.50% p.a. comparison rate*). You’ll also be able to split your loan between fixed and variable interest rates, pay it down faster without penalty, plus access a free redraw facility if you ever decide you need those funds back in your pocket. Just be sure to budget for the $220 valuation fee and $300 settlement fee.

With a super low 2.49% variable interest rate (2.49% p.a. comparison rate*) on amounts above $100,000, the UHomeLoan Discount Offer was an obvious choice in this year’s Mozo Experts Choice Awards^. Homebuyers and refinancers will also appreciate the features on offer, such as the ability to make free extra repayments and access a redraw facility. Just keep in mind that the Discount Offer is only available on new variable rate UHomeLoan applications, so if you’ve already got a UHomeLoan you unfortunately won't be eligible.

After passing on four of the last five RBA rate cuts in full, Homestar’s selection of home loans is looking sharper than ever. Take the Star Essentials Home Loan, whose stellar 2.29% p.a. variable rate (2.32% p.a. comparison rate*) puts it among the best value home loans in our database. You’ll be able to make free extra repayments, and if you ever want to retrieve those funds you can do so thanks to the free redraw facility. What’s more, it picked a win in this year’s Mozo Experts Choice Awards^ in the Low Cost home Loan category. Just keep an eye out for the $250 valuation fee and $265 legal fee.

The Well Balanced Home Loan took out a staggering five Mozo Experts Choice Awards^ in 2020, thanks to a combination of excellent value and features. Variable rates start as low as 2.17% p.a. (2.20% comparison rate*) on loans with an LVR of 80%, there’s plenty of flexibility in how you pay, and for an extra $10 per month you can make use of an offset account. Just keep in mind there are a few fees that come with this one, namely the $250 application fee, $150 settlement fee, $385 legal fee, and $300 discharge fee.

Since it burst onto the scene last year, Athena Home Loans has scored plenty of goodwill with Aussies thanks to its low interest rates and habit of passing on RBA rate cuts in full. And with its new AcceleRates feature, borrowers have one more reason to get on board. Athena offers three price bands depending on your LVR, and automatically reduces your rate as you progress through each tier. Rates range from 2.34% p.a. (2.34% p.a. comparison rate*) to 2.44% p.a. (2.38% p.a. comparison rate*), there are zero application fees, and if you want to retrieve any extra funds, a free redraw facility is available.