7.4/10

Based on 46992 Commonwealth Bank product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

Commonwealth Bank home loans

Chances are you already know the Commonwealth Bank - the yellow and gold bank with a CAN-do attitude. But did you know they have roots dating back in Australia to 1912 - yep CommBank is no spring chicken! Today it’s one of Australia’s big four banks, with over 1,100 branches and 4,300 ATMs all over the country. So if you want to take out a home loan with an established bank that’s certainly not going anywhere anytime soon - you may just have found your perfect match here.

What home loans do Commonwealth Bank offer?

Rates and fees verified as correct at 16 July 2024. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

There are a couple of fixed rate home loan options on offer from the Commonwealth Bank, depending on whether you’re an owner occupier or an investor. Fixed rate loans are available for amounts beginning at $10,000 and LVRs up to 95% for owner occupiers or 90% for investors. You’ll pay both a monthly service fee and an upfront application fee, so make sure you balance that out by cashing in on the flexible features, like fee free extra repayments up to the value of $10,000 p.a. and the ability to choose between weekly, fortnightly or monthly repayments. 

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments

6.84% p.a.

8.34% p.a.

$8.00 monthly

$800

6.74% p.a.

8.31% p.a.

$8.00 monthly

$800

6.89% p.a.

8.75% p.a.

$8.00 monthly

$800

6.79% p.a.

8.72% p.a.

$8.00 monthly

$800

Variable Rate Home Loans

CommBank offers a range of variable rate home loan options for homebuyers with an LVR of up to 95%, looking to borrow amounts starting at $10,000. Like the fixed rate alternative, you’ll pay a monthly and upfront fee on a CommBank standard variable rate home loan - but in return, you can enjoy a host of flexible, money saving features. This includes unlimited fee free extra repayments, unlimited free redraws both online and over the counter and the full use of an offset account. Don’t like the look of those fees? There’s also an option with no application fees, although you won’t have the use of an offset account with this choice.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

6.66% p.a.

6.50% p.a.

$10.00 monthly

$500

6.17% p.a.

6.30% p.a.

$10.00 monthly

$500

6.68% p.a.

6.52% p.a.

$10.00 monthly

$500

6.19% p.a.

6.32% p.a.

$10.00 monthly

$500

6.64% p.a.

6.48% p.a.

$10.00 monthly

$500

6.15% p.a.

6.28% p.a.

$10.00 monthly

$500

7.35% p.a.

7.05% p.a.

$0.00

$200

6.79% p.a.

6.81% p.a.

$0.00

$200

7.14% p.a.

7.16% p.a.

$0.00

$200

7.84% p.a.

7.86% p.a.

$0.00

$200

7.15% p.a.

6.85% p.a.

$0.00

$200

6.59% p.a.

6.60% p.a.

$0.00

$200

7.25% p.a.

6.95% p.a.

$0.00

$200

6.69% p.a.

6.71% p.a.

$0.00

$200

9.29% p.a.

9.17% p.a.

$8.00 monthly

$800

8.80% p.a.

8.95% p.a.

$8.00 monthly

$800

6.62% p.a.

6.59% p.a.

$10.00 monthly

$500

6.36% p.a.

6.49% p.a.

$10.00 monthly

$500

6.72% p.a.

6.69% p.a.

$10.00 monthly

$500

6.46% p.a.

6.59% p.a.

$10.00 monthly

$500

6.60% p.a.

6.57% p.a.

$10.00 monthly

$500

6.34% p.a.

6.47% p.a.

$10.00 monthly

$500

7.26% p.a.

6.96% p.a.

$0.00

$200

6.70% p.a.

6.71% p.a.

$0.00

$200

7.31% p.a.

7.01% p.a.

$0.00

$200

6.75% p.a.

6.77% p.a.

$0.00

$200

7.45% p.a.

7.15% p.a.

$0.00

$200

6.89% p.a.

6.91% p.a.

$0.00

$200

7.64% p.a.

7.66% p.a.

$0.00

$200

7.94% p.a.

7.96% p.a.

$0.00

$200

8.20% p.a.

7.91% p.a.

$0.00

$200

9.64% p.a.

9.64% p.a.

$8.00 monthly

$800

9.38% p.a.

9.53% p.a.

$8.00 monthly

$800

Fixed Package Home Loan

Snag a fixed rate Wealth Package home loan from the Commonwealth Bank to cut back on fees and keep your wallet plump and happy. With a Wealth Package home loan, you’ll enjoy a discount on your home loan interest rates, plus the monthly and upfront fees will be waived (although there is an annual package fee to factor in). You can also say goodbye to annual fees on one eligible CommBank credit card

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments

6.69% p.a.

8.02% p.a.

$395.00 yearly

$200

6.59% p.a.

7.99% p.a.

$395.00 yearly

$200

6.74% p.a.

8.43% p.a.

$395.00 yearly

$200

6.64% p.a.

8.40% p.a.

$395.00 yearly

$200

Variable Package Home Loan

Like the fixed rate option, variable rate Wealth Package home loans from CommBank are available for amounts starting at $150,000 and LVRs up to 95%, plus they also come jam packed with savings including discounted interest rates on your home loan. Fees will become a distant memory, as the monthly and upfront fees are waived on your home loan, along with fees on a range of CommBank credit cards. You'll also have access to heaps of flexible features like unlimited free extra repayments, free redraws, repayment holidays, and access to an offset account. 

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments

6.98% p.a.

7.05% p.a.

$395.00 yearly

$200

7.08% p.a.

7.15% p.a.

$395.00 yearly

$200

7.18% p.a.

7.25% p.a.

$395.00 yearly

$200

6.49% p.a.

6.86% p.a.

$395.00 yearly

$200

6.59% p.a.

6.96% p.a.

$395.00 yearly

$200

6.69% p.a.

7.06% p.a.

$395.00 yearly

$200

6.94% p.a.

7.30% p.a.

$395.00 yearly

$200

7.74% p.a.

8.09% p.a.

$395.00 yearly

$200

6.86% p.a.

7.06% p.a.

$395.00 yearly

$200

6.91% p.a.

7.11% p.a.

$395.00 yearly

$200

6.96% p.a.

7.16% p.a.

$395.00 yearly

$200

7.65% p.a.

7.85% p.a.

$395.00 yearly

$200

6.60% p.a.

6.97% p.a.

$395.00 yearly

$200

6.65% p.a.

7.02% p.a.

$395.00 yearly

$200

6.70% p.a.

7.07% p.a.

$395.00 yearly

$200

7.39% p.a.

7.75% p.a.

$395.00 yearly

$200

7.84% p.a.

8.19% p.a.

$395.00 yearly

$200

Commonwealth Bank home loan features in a glance

Repayment Icon

Extra repayments

With a CommBank home loan you can pay off your home loan faster thanks to the extra repayments facility. But keep in mind, while you can make as many additional payments as you like with its variable rate loans, extra repayments are capped at a value of $10,000 p.a with the fixed rate alternatives.

Deposit icon

Low deposit

Struggling to save up a deposit? With many Commonwealth Bank home loan options, you can borrow up to 95% of your property’s value, although be mindful that if you borrow more than 80%, you may have to pay Lenders Mortgage Insurance

Schedule icon

Flexible repayment schedule

CommBank’s flexible repayment schedule allows you to match up your repayments to when you receive your salary either weekly, fortnightly or monthly.

Image of coins

Package discounts

Enjoy waived annual fees on your credit card when you bundle it with your CommBank home loan into a Wealth Package. Plus, enjoy discounted package interest rates to boot!

How are Commonwealth Bank home loans rated?

Mozo users have rated Commonwealth Bank home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
Commonwealth Bank home loans customer reviews
Overall
6.8/10
Price
6.4/10
Features
6.3/10
Customer service
7.0/10
Convenience
7.9/10
Trust
6.7/10
Based on 6051 Commonwealth Bank product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent Commonwealth Bank home loan reviews

Commonwealth Bank Standard Variable Rate (Wealth Package)
Overall 4/10
Please shop around

I would suggest shopping around. I went with one of the big 4 because it was a trusted brand and I have had nothing but trouble. Constant miscommunication - due to a bank error I missed out on a fixed portion of my loan. They take no accountability for their mistakes and except you to just deal with it.

Read full review

I would suggest shopping around. I went with one of the big 4 because it was a trusted brand and I have had nothing but trouble. Constant miscommunication - due to a bank error I missed out on a fixed portion of my loan. They take no accountability for their mistakes and except you to just deal with it.

Price
3/10
Features
3/10
Customer service
3/10
Convenience
3/10
Trust
5/10
Less
Jess, Victoria, reviewed 7 days ago
Commonwealth Bank Fixed Rate Home Loan (Wealth Package)
Overall 8/10
Fixed interest home loan was best rate for us

I've had a CBA account since I was in primary school, all of my experiences with them on a personal level have been positive. Our current home loan has been refinanced with CBA, the options and drawbacks of each mortgage type are clear on the website and in the PDF options. Not being able to have an offset account with a fixed rate is the only drawback I've found, but it *did* allow us to lock in a lower rate than other banks. CBA were also one of the only banks that allowed us to finance our home with a 10% deposit.

Read full review

I've had a CBA account since I was in primary school, all of my experiences with them on a personal level have been positive. Our current home loan has been refinanced with CBA, the options and drawbacks of each mortgage type are clear on the website and in the PDF options. Not being able to have an offset account with a fixed rate is the only drawback I've found, but it *did* allow us to lock in a lower rate than other banks. CBA were also one of the only banks that allowed us to finance our home with a 10% deposit.

Price
9/10
Features
8/10
Customer service
10/10
Convenience
10/10
Trust
9/10
Less
Sarah, Queensland, reviewed 7 days ago
Commonwealth Bank Home Loan
Overall 7/10
Trusted bank

Commonwealth Bank is a trusted bank and have an easy to use and functional app which makes mobile banking simple and easy. I have always used them for personal banking but moving my home loans over means everything is now in one place that is easy to access. Only complaint is I wish they had frequent flyer rewards.

Read full review

Commonwealth Bank is a trusted bank and have an easy to use and functional app which makes mobile banking simple and easy. I have always used them for personal banking but moving my home loans over means everything is now in one place that is easy to access. Only complaint is I wish they had frequent flyer rewards.

Price
6/10
Features
3/10
Customer service
9/10
Trust
10/10
Less
Katie, Victoria, reviewed 7 days ago
Commonwealth Bank Home Loan
Overall 9/10
Happy with Customer Service

Very understanding, great customer service..

Read full review

Very understanding, great customer service..

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Grete, Queensland, reviewed 7 days ago
Commonwealth Bank Standard Variable Rate
Overall 2/10
Sandy

Difficult to get someone to talk to about lowering home loan rate.

Read full review

Difficult to get someone to talk to about lowering home loan rate.

Price
4/10
Features
4/10
Customer service
4/10
Convenience
1/10
Trust
2/10
Less
Urbanowicz, New South Wales, reviewed 7 days ago

What do you need to apply for a Commonwealth Bank home loan?

Is a CommBank home loan right for you? If the answer is yes, you can apply online or in branch, and you can also make an appointment to speak to a home loan specialist before you start. When you apply, make sure you have details handy about:

Home loan quick links