loans.com.au Smart Home Loan

This product is available in different versions. Pick the right version for you here.

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $1,000,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest, interest only loan between $50,000 and $1,000,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan between $50,000 and $1,000,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $50,000 $1,000,000

  • Investor (Principal & Interest, Interest Only)

    LVR < 80%

    Loan: $50,000 $1,000,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $50,000 $1,000,000

2.63% p.a.

2.65% p.a.

$0.00

loans.com.au Smart Home Loan

2.63% p.a.

2.65% p.a.

$0.00

2.94% p.a.

2.96% p.a.

$0.00

loans.com.au Smart Home Loan

2.94% p.a.

2.96% p.a.

$0.00

3.29% p.a.

3.31% p.a.

$0.00

loans.com.au Smart Home Loan

3.29% p.a.

3.31% p.a.

$0.00

Mozo Review   loans.com.au Smart Home Loan Review

Last updated: 19 March 2020.

What's hot:
  • Two 2020 Mozo Experts Choice Awards

  • Competitive 2.63% p.a. (2.65% p.a. comparison rate*)

  • Redraw facility available

  • No ongoing fees

What's not:
  • $150 late payment fee

Mozo snapshot:

At 2.63% p.a. (2.65% comparison rate*), the Smart Home Loan by innovative online lender loans.com.au has one of the lowest variable rates currently in the market. It has a free redraw facility, and with no application fee, flexible repayment options and the option to split your loan between fixed and variable rates, you’ll be on the hunt for your new house in no time. It is available for loans up to $1 million and best suited to owner occupier borrowers who are in the market for a new home to live in or refinance.

Borrowers will also be pleased to know that the Smart Home Loan took out two 2020 Mozo Experts Choice Awards - for Best Low Cost Home Loan and Best Investor Home Loan.

Key features:

The Smart Home Loan is a basic home loan with all the right features, no ongoing fees and, you can apply today and score a competitive interest rate of 2.63% p.a. (2.65% p.a. comparison rate*). That's if you have a minimum loan to value ratio of 80% - at least a 20% deposit or equity in your home. If you've managed to save up a deposit of 25% or more (<75% LVR) then you can snag a rate as low as 2.53% p.a. (2.55% p.a. comparison rate*).

You can choose between weekly, fortnightly or monthly loan repayments. If you are looking pay off your mortgage fast, you’ll be happy to know that this home loan allows free extra repayments. It also comes with a free redraw facility so if you need some of that money back at some point down the track to pay for other household expenses you can easily retrieve it, and there is no minimum redraw amount.

And with investment rates of 2.94% p.a. (2.96% p.a. comparison rate*), plus all the perks that are offered to owner occupiers, anyone looking to add to their investment portfolio will also enjoy what's on offer.

There are some upfront fees to pay with the Smart Home Loan including a $220 valuation fee and a $300 loan settlement fee.



Who it's good for:

The Smart Home Loan is a great option for owner-occupiers looking to borrow less than $1,000,000, without having to pay excess fees.  

Any catches?

While loans.com.au gives you the flexibility to choose your repayment frequency, it's still a good idea to set up an automatic direct deposit so that your loan repayments are made on time. If you do miss a due date, there is a $150 late payment fee.


Details

Rates and fees information correct as at 9 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.63% p.a.

  • n/a

  • n/a

  • n/a

  • 2.65% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $220.00

  • $300.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • $300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.

  • none

  • none

*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.

Details

Rates and fees information correct as at 9 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.94% p.a.

  • n/a

  • n/a

  • n/a

  • 2.96% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $220.00

  • $300.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Investor

  • Principal & Interest, Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • $300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.

  • none

  • none

*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.

Details

Rates and fees information correct as at 9 April 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.29% p.a.

  • n/a

  • n/a

  • n/a

  • 3.31% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $0.00

  • $220.00

  • $300.00

  • n/a

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Investor

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • $300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.

  • none

  • none

*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.

Customer Reviews

How are loans.com.au home loans rated by the Mozo community?

Overall customer rating
8.1/10
Price
9.1/10
Features
8.1/10
Customer service
7.9/10
Convenience
7.3/10
Trust
7.7/10

Latest reviews of loans.com.au Smart Home Loan

  • Overall 10/10
    Easy to work with.

    Easy to work with and a great interest rate.

    Read full review

    Easy to work with and a great interest rate.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Naomi, Victoria reviewed 7 days ago
  • Overall 2/10
    Used to be good, but now look elsewhere.

    They have bad communication and faulty IT systems. They Increased rates out of cycle of RBA and give higher rates for existing customers. Look elsewhere for lenders.

    Read full review

    They have bad communication and faulty IT systems. They Increased rates out of cycle of RBA and give higher rates for existing customers. Look elsewhere for lenders.

    Price
    1/10
    Features
    6/10
    Customer service
    0/10
    Convenience
    1/10
    Trust
    0/10
    Less
    Ben, Victoria reviewed 22 days ago
  • Overall 10/10
    Both their rates and service are amazing

    They have excellent service and great rates. They are 0.37% lower than my previous lender and they passed on the rate cut in full both times.

    Read full review

    They have excellent service and great rates. They are 0.37% lower than my previous lender and they passed on the rate cut in full both times.

    Price
    10/10
    Features
    0/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Michael, New South Wales reviewed 8 months ago
loans.com.au

About loans.com.au

100% Australian owned, loans.com.au opened its doors in 2010 with a vision of "making it easier for people to own and invest in property". loans.com.au offers a winning combination of low interest rates and fees and a commitment to excellent customer service. loans.com.au runs its own call centre and caters to home, investment and personal finance borrowers.

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2.79% p.a.

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2.84% p.a.
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2.94% p.a.

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2.44% p.a.

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*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.