Generally, when people talk about home loans and mortgages, they really mean the same thing.
But technically speaking, they are a little different. A “home loan” is the money a bank lends to you, while a mortgage is the document that protects a lender by allowing them to sell your house to recover their money if you default on the loan.
When we talk about mortgages here, we’re using it in the same way as “home loan.”
Start by doing a mortgage comparison using our table below. Compare mortgage interest rates, fees and features and crunch the numbers on your potential repayments. When you’ve found a mortgage deal that’s right for you, just click the blue ‘Go to site’ button next to it to be taken through to the lender’s website. From there you can get more information or start an application.
1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.
Read our Mozo Review to learn more about the Smart Booster Home Loan
Owner Occupier, Principal & Interest
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
Read our Mozo Review to learn more about the UHomeLoan - Discount Offer
<60% LVR, Owner Occupier, Principal & Interest
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Read our Mozo Review to learn more about the Celebrate Variable Home Loan
Owner Occupier, LVR <80%, 300k+
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
Read our Mozo Review to learn more about the Special Offer Reward Me Fixed Rate Home Loan
Fixed, Owner Occupier, Principal & Interest, LVR 70-80%
Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.
Flexible loan structure – create up to six loan accounts with different rate and repayment types. Free redraw from your loan using Macquarie Online.
Read our Mozo Review to learn more about the Basic Home Loan
Owner Occupier, Principal & Interest, LVR <80%
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed.
Well Balanced home loan is a low rate home loan with free online redraw and no valuation fee. Purchase, Refinance or Equity Release purposes allowed.
Read our Mozo Review to learn more about the Well Balanced
Owner Occupier, Principal & Interest, LVR <60%
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
Read our Mozo Review to learn more about the Neat Home Loan
Owner Occupier, Principal & Interest, <80% LVR
Competitive low rates starting from 1.89% (2.94% comparison rate) 2 years fixed for owner occupiers. No monthly account keeping fees & No loan establishment fee.
Competitive low rates starting from 1.89% (2.94% comparison rate) 2 years fixed for owner occupiers. No monthly account keeping fees & No loan establishment fee.
Read our Mozo Review to learn more about the Fixed Home Loan Special Offer
Owner Occupier, Principal & Interest
$0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
$0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
Read our Mozo Review to learn more about the UHomeLoan
Owner Occupier, Principal & Interest
Yard’s low-rate variable home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Only a 10% deposit needed.
Yard’s low-rate variable home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Only a 10% deposit needed.
Read our Mozo Review to learn more about the Variable Home Loan
Owner Occupier, Principal & Interest
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. Partial offset available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. Partial offset available. $2,000 cashback offer for investor & owner occupied home loans over $250k with LVR ≤80% when refinancing to Newcastle Permanent. Limited time offer extended, T&Cs apply
Read our Mozo Review to learn more about the Special Real Deal Home Loan
Owner Occupier, Principal & Interest
GMCU Basic Variable Special Offer 2.33% (3.71% comparison rate) intro variable rate for 24 months. Offset account, extra repayments and redraw facility available. Victoria customers only.
GMCU Basic Variable Special Offer 2.33% (3.71% comparison rate) intro variable rate for 24 months. Offset account, extra repayments and redraw facility available. Victoria customers only.
Read our Mozo Review to learn more about the Basic Variable Special Offer Plus
LVR<80%, Owner Occupier, Principal & Interest
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more.
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more.
Read our Mozo Review to learn more about the Back to Basics Special
LVR<80%, Owner Occupier, Principal and Interest, >$150k
A People’s Choice Basic Variable home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate and no upfront or ongoing fees. It also allows you to have the freedom to make extra repayments to pay off your loan sooner.
A People’s Choice Basic Variable home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate and no upfront or ongoing fees. It also allows you to have the freedom to make extra repayments to pay off your loan sooner.
Read our Mozo Review to learn more about the Basic Variable Home Loan
Owner Occupier, Principal & Interest, LVR <80%
Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Includes an HSBC Premier Master Card with HSBC rewards and no annual credit card fee allowing you to earn points. Mozo Experts Choice Fixed Home Loan 2020 winner^
Ability to split your home loan between Fixed and Variable. Dedicated Relationship Manager. Includes an HSBC Premier Master Card with HSBC rewards and no annual credit card fee allowing you to earn points. Mozo Experts Choice Fixed Home Loan 2020 winner^
Read our Mozo Review to learn more about the Fixed Rate Home Loan
70-80% LVR, Owner Occupier, Principal & Interest
Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. To reward borrowers for paying down their home loan, Athena will now automatically lower the rate as the loan is paid down. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. To reward borrowers for paying down their home loan, Athena will now automatically lower the rate as the loan is paid down. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Read our Mozo Review to learn more about the Liberate Variable Home Loan
Owner Occupier, Principal & Interest, LVR 70-80%
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
Competitive variable rate. Borrowers choose their repayment schedule (weekly, fortnightly or monthly) and can also make extra repayments. Redraw facility available. Simple online application process.
Read our Mozo Review to learn more about the Neat Home Loan
Owner Occupier, Principal & Interest
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
Read our Mozo Review to learn more about the Smart Home Loan 80
Owner Occupier, Principal & Interest, Home Loan Package
A People’s Choice 3 year fixed home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate. There are no restrictions to the number of loans you can combine on a package. Lock in a competitive fixed interest rate with People’s Choice.
A People’s Choice 3 year fixed home loan allows you to enjoy a simple, non-complicated home loan with a competitive rate. There are no restrictions to the number of loans you can combine on a package. Lock in a competitive fixed interest rate with People’s Choice.
Read our Mozo Review to learn more about the Fixed Rate Home Loan
Owner Occupier, Principal & Interest, <70% LVR
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 70%.
Read our Mozo Review to learn more about the Economy Variable Home Loan
^See information about the Mozo Experts Choice Home loans Awards
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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Whether you’re buying you're a first home buyer, refinancing an existing mortgage or getting your hands on an investment property, taking out a mortgage and buying a home is often the biggest financial commitment Aussies make - so getting it right is super important.
That’s where Mozo comes in. We’ve made it easy to compare deals from Australian mortgage providers with our comparison table above. From fees, to repayments options, interest rate to Loan-to-Value ratio, all the need-to-know information is included in our table to help you create a shortlist of the best mortgages for you.
Then, once you’ve picked the perfect option for you, you can also get the ball rolling on your application from right here, by clicking on the blue ‘Go to Site’ button next to the mortgage of your choice.
One important part of any good mortgage comparison is crunching the numbers using your loan amount and budget, so that you get a personalised, accurate idea of what a mortgage might cost you.
But if the idea of revisiting your high school maths homework has you breaking out in a cold sweat, don’t fear - we’ve got a bunch of mortgage calculators to help you do the hard yards.
If you want to work out how much a mortgage will cost you in monthly repayments and over the life of your loan, take our mortgage repayments calculator for a whirl. If you’re tossing up between two mortgage deals and want to know which one will be kindest to your wallet, plug the details of both into our mortgage repayment comparison calculator.
Navigating the mortgage market and finding the right option for you can seem like a daunting task and enlisting the help of a mortgage broker has benefits - including that they may have the inside rail on a number of great mortgage deals.
On the other hand, a broker’s interests may not necessarily be in line with yours - mortgage brokers are paid a fee or commission when they sign you up for a loan with one of their partner lenders. The mortgage deals that are best for them, may not always be best for your wallet.
There’s so much information out there about home loans these days, that doing your own work to find the best mortgage deal for you is easier than ever, so you don’t really need a mortgage broker if you don’t want one. And even if you are using a broker, comparing mortgages yourself first can help you make sure you’re being offered the best possible deal.
Before you get carried away hunting for your perfect home, it’s handy to know how much a mortgage lender will actually be willing to fork over. This can depend on a heap of different factors, and what you think you can borrow could be totally different to what you can actually borrow. To help you get an idea of what kind of budget you’ll have, take our mortgage borrowing calculator for a spin.
When it comes to finding the best mortgage for your needs, having a competitive interest rate is essential. And no matter if you’re buying your first home or investment property, shopping around on interest rates can save you a bundle over the long term. So if you’d like more information on how to find the best mortgage interest rates around, head on over to Home Loans Interest Rates page.
Aside from the interest you pay on a mortgage, the next biggest cost may be the fees you need to shell out for. Each mortgage is different, and some are completely fee free, but some common fees to keep an eye out for include:
While paying fees is no one’s favourite thing, some of the best mortgages around have a number of fees included. Why? Because in return for that fee you get a host of extras, like money-saving features, repayment flexibility and in the case of packaged mortgages, maybe even discounts on other financial products.
So, as with most other decisions about your finances, it’s up to you to weigh up the costs and benefits to decide which mortgage is better for you.
The features included in your mortgage can make a big difference to how much interest you wind up paying. Some features you might want to search for include:
One thing to keep in mind is that a mortgage with more features often comes with slightly higher interest rates or fees as well. As part of your search, you should weigh up the benefits of having these features against the extra cost - there’s no point opting for a mortgage with a higher rate if you won’t even use any of the extra features it buys you.
Choosing a mortgage deal is not the only thing you need to consider - picking out a lender you can trust and which works with your lifestyle is also important.
Different mortgage lenders have different benefits for borrowers. Here’s a quick snapshot of some of the main types of lenders to help you decide what’s right for you.
Needs to improve the app to access redraw features from home loan.
Read full reviewNeeds to improve the app to access redraw features from home loan.
Good communication and up to date info.
Read full reviewGood communication and up to date info.
I like the service that’s provided and ease of use.
Read full reviewI like the service that’s provided and ease of use.
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Find the right home lender fast. Mozo details all home loan providers along with their home loan products right here so you compare rate, fees and features easily.