loans.com.au Smart Home Loan

3.03% p.a.

3.05% p.a.

$0.00

loans.com.au Smart Home Loan

3.03% p.a.

3.05% p.a.

$0.00

Mozo Review   loans.com.au Smart Home Loan Review

Last updated: 5 July 2019.

What's hot:
  • Competitive 3.03% p.a. (3.05% p.a. comparison rate)

  • No application or ongoing fees

  • Redraw facility available

What's not:
  • $150 late payment fee

Mozo snapshot:

At 3.03% p.a. (3.05% 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 fees, 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.

Key features:

The Smart Home Loan is a basic home loan with all the right features, a competitively low rate loan interest rate 3.03% p.a. (3.05% p.a. comparison rate*) and no ongoing fees. It does have a minimum loan to value ratio of 80% so you’ll need at least a 20% deposit or equity in your home to qualify.

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, and there is no minimum redraw amount.

The Smart Home Loan has no application, service, legal or valuation fees to eat into your budget but you will need to pay 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 22 September 2019. 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
  • 3.03% p.a.

  • n/a

  • n/a

  • n/a

  • 3.05% 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.

Customer Reviews

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

Overall customer rating
8.2/10
Price
9.1/10
Features
8.1/10
Customer service
7.9/10
Convenience
7.3/10
Trust
7.7/10

Latest review of loans.com.au Smart Home Loan

  • 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 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

    Michael | New South Wales

    reviewed about 2 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.

See loans.com.au home loans

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Fixed Home Loan

p.a.

3.43% p.a.

$0.00

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Offset Variable

3.27% p.a.

3.29% p.a.

$0.00

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Essentials Variable

3.19% p.a.

3.21% p.a.

$0.00

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ZIP Home Loan

3.23% p.a.

3.25% p.a.

$0.00

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Smart Home Loan

3.03% p.a. variable

3.05% p.a.

$520

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UBank

UBank

UHomeLoan - Discount Offer

3.09% p.a. variable

3.09% p.a.

$0

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Athena

Athena

Variable Home Loan

3.09% p.a. variable

3.05% p.a.

$0

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ME

ME

Flexible Home Loan (Member Package)

3.34% p.a. variable

3.78% p.a.

$200

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ANZ

ANZ

Simplicity PLUS

3.38% p.a. variable

3.42% p.a.

$0

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Suncorp

Suncorp

Back to Basics

3.18% p.a. variable

3.19% p.a.

$0

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Newcastle Permanent

Newcastle Permanent

Real Deal Home Loan

3.32% p.a. variable

3.36% p.a.

$0

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Homestar

Homestar

Star Essentials Home Loan

2.99% p.a. variable

3.02% p.a.

$596

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loans.com.au

Smart Home Loan

3.03% p.a.

3.05% p.a.

$520

Promoted

UBank

UBank

UHomeLoan - Discount Offer

3.09% p.a.

3.09% p.a.

$0

Promoted

Athena

Athena

Variable Home Loan

3.09% p.a.

3.05% p.a.

$0

Promoted

ME

ME

Flexible Home Loan (Member Package)

3.34% p.a.

3.78% p.a.

$200

Promoted

ANZ

ANZ

Simplicity PLUS

3.38% p.a.

3.42% p.a.

$0

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.99% p.a.

3.02% p.a.

$596

Promoted

HSBC

HSBC

Home Value Loan

3.17% p.a.

3.19% p.a.

$150

Promoted

Suncorp

Suncorp

Back to Basics

3.18% p.a.

3.19% p.a.

$0

Promoted

UBank

UBank

UHomeLoan (Fixed)

2.99% p.a.
fixed 3 years

3.45% p.a.

$395

Promoted

IMB Bank

IMB Bank

Fixed Home Loan

2.99% p.a.
fixed 3 years

3.51% p.a.

$799

Promoted

Suncorp

Suncorp

Fixed Home Loan (Home Package Plus)

2.99% p.a.
fixed 3 years

3.84% p.a.

$0

Promoted

loans.com.au

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Fixed Home Loan

3.19% p.a.
fixed 3 years

3.43% p.a.

$520

Promoted

Newcastle Permanent

Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

2.99% p.a.
fixed 3 years

4.08% p.a.

$0

Promoted

UBank

UBank

UHomeLoan (1 Year Fixed)

n/a

n/a

$395

Promoted

Mortgage House

Mortgage House

Fix and Save

n/a

n/a

$840

Promoted

loans.com.au

loans.com.au

Smart Loan Fixed (Package)

3.19% p.a.
fixed 3 years

3.63% p.a.

$520

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.99% p.a.

3.02% p.a.

$0.00

*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.