8.0 / 10

based on 674 reviews as rated by Mozo community

loans.com.au home loans

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.

loans.com.au has been frequently recognised for the excellent value provided by its home loan products - most recently taking out the Best New Feature Award in the 2019 Mozo Experts Choice Awards for the ZIP Debit Card which is an optional extra with the ZIP Home Loan.

What home loans do loans.com.au offer?

Rates and fees verified as correct at 25 November, 2020. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

loans.com.au has two fixed home loans from which you can choose depending on whether you’re an owner occupier or investor. The fixed rate is available on loans starting from $50,000 (up to a maximum of $1,000,000) and you can choose between 1, 2 or 3 year terms. loans.com.au’s fixed loan is packed with heaps of great features including interest only payments (up to 5 years), a split loan facility and a rate lock feature- and you won’t even need to pay any ongoing service fees! Plus, you can make extra repayments during the fixed rate period of up to $10,000 p.a. to reduce the term of your loan and what you pay in interest.

Home loan repayments calculator

years

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

3.28% p.a.

2.98% p.a.

$0.00

$520

2.88% p.a.

2.89% p.a.

$0.00

$520

Go to site

1.99% p.a.

2.70% p.a.

$0.00

$520

Go to site

3.48% p.a.

3.12% p.a.

$0.00

$520

3.08% p.a.

3.03% p.a.

$0.00

$520

p.a.

n/a

$0.00

$520

Variable Rate Home Loans

From the Essentials Variable which is a no frills, basic home loan to the Offset Variable which is available for loans up to $2,0000,000, loans.com.au’s variable rate home loans are suited to both owner occupiers and investors. loans.com.au’s variable loans allow for extra repayments, unlimited free redraws and a choice of principal and interest or interest only payments for up to 5 years. The Offset Variable option has an offset account and a linked Visa debit card which can be used for purchases and cash withdrawals wherever Visa is accepted globally. This means you can offset the interest in your home loan by adding funds to your offset account and only drawing down when you need to.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments ‡  

1.99% p.a.variable for 12 months and then 2.48% p.a.

2.47% p.a.

$0.00

$520

Go to site

2.09% p.a.variable for 24 months and then 2.79% p.a.

2.71% p.a.

$0.00

$520

Go to site

2.79% p.a.

2.81% p.a.

$0.00

$520

2.48% p.a.

2.50% p.a.

$0.00

$520

Go to site

2.79% p.a.

2.81% p.a.

$0.00

$520

2.73% p.a.

2.75% p.a.

$0.00

$520

Go to site

1.99% p.a.variable for 12 months and then 2.74% p.a.

2.71% p.a.

$0.00

$520

Go to site

1.99% p.a.variable for 12 months and then 2.74% p.a.

2.71% p.a.

$0.00

$520

Go to site

2.99% p.a.

3.01% p.a.

$0.00

$520

Go to site

2.74% p.a.

2.76% p.a.

$0.00

$520

Go to site

3.09% p.a.

3.11% p.a.

$0.00

$520

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.

‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.

loans.com.au home loan features in a glance

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100% online

You can apply and manage your loans.com.au home loan from the comfort of your couch. Once your online application is completed, you’ll be assigned your own personal lending manager and support officer to carry you through the whole process until settlement. Easy peasy!

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No application or monthly fees

Say sayonara to any application or ongoing monthly service fees when you choose a fixed or variable rate home loan with loans.com.au.

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Visa debit card

When you apply for loans.com.au’s Offset Variable loan, you’ll be issued with a linked Visa debit card which you can use to access the funds in your offset account on a 24/7 basis and wherever Visa is accepted worldwide.

Free icon

Free redraw

loans.com.au’s variable rate home loans allow for unlimited free redraws to access any additional repayments you’ve made. There is no minimum withdrawal.

How are loans.com.au home loans rated?

Mozo users have rated loans.com.au 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
loans.com.au home loans
Overall
8.1/10
Price
Features
Customer service
Convenience
Trust

655 Reviews

Recent loans.com.au home loan reviews

loans.com.au Home Loan review
Overall 10/10
They are great.

They have been the best. I cannot fault them at all. Their support has been excellent. I would like to go one year of interest only, but cannot do it.

Read full review

They have been the best. I cannot fault them at all. Their support has been excellent. I would like to go one year of interest only, but cannot do it.

Price
10/10
Features
8/10
Customer service
10/10
Convenience
7/10
Trust
10/10
Less
Lana, Queensland reviewed 29 days ago
loans.com.au Offset Variable review
Overall 6/10
No frills means exactly that!

Overall I feel Loans.com.au offer a good product. It's a cheap no frills version home loan, so if you just want to pay off your home loan with an offset account - its a great option. My problem is during COVID my hours were reduced to half, so I asked for a month or two of reduced payments. They agreed completely and offered 3 months of half payments. This was great news for a single mum. The problem was they didn't follow through and kept charging me the full amount. Their system doesn't allow you to see when payments are taken - it's confusing and the staff admit to that. So because I had extra money in the account they just took the lot. So in the end I didn't get a discount at all and they didn't really care. The staff member said sorry but it honestly felt like a "sorry, not sorry". I am not saying not to go with them but a no frills online version of a home loan is exactly that. When my hours are increased I will most likely look to go with another lender as many are offering great rates and some offer cash to move. Of course you have to read the fine print but there are some great deals out there!

Read full review

Overall I feel Loans.com.au offer a good product. It's a cheap no frills version home loan, so if you just want to pay off your home loan with an offset account - its a great option. My problem is during COVID my hours were reduced to half, so I asked for a month or two of reduced payments. They agreed completely and offered 3 months of half payments. This was great news for a single mum. The problem was they didn't follow through and kept charging me the full amount. Their system doesn't allow you to see when payments are taken - it's confusing and the staff admit to that. So because I had extra money in the account they just took the lot. So in the end I didn't get a discount at all and they didn't really care. The staff member said sorry but it honestly felt like a "sorry, not sorry". I am not saying not to go with them but a no frills online version of a home loan is exactly that. When my hours are increased I will most likely look to go with another lender as many are offering great rates and some offer cash to move. Of course you have to read the fine print but there are some great deals out there!

Price
9/10
Features
9/10
Customer service
6/10
Convenience
9/10
Trust
6/10
Less
Richelle, Queensland reviewed 29 days ago
loans.com.au Essentials Variable review
Overall 2/10
Feel cheated

Hooked up to that loan for the advertised rate than our rate was lifted to higher than anyone else. They still get away with it surprisingly.

Read full review

Hooked up to that loan for the advertised rate than our rate was lifted to higher than anyone else. They still get away with it surprisingly.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
2/10
Less
Bob, Queensland reviewed about 2 months ago
loans.com.au Smart Home Loan review
Overall 10/10
Quick easy and cheap

Quick and easy finance and competitive interest rates.

Read full review

Quick and easy finance and competitive interest rates.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Daniel, New South Wales reviewed 3 months ago
loans.com.au Offset Variable review
Overall 0/10
Zero care for loyal customers.

I've been with loans.com.au for over 5 years, with 3 mortgages & approximately $200k in savings. Over that time they've snuck the rate up on us to 1% above their advertised rate. When we rang them about it, they said someone would call us back within 5 working days. Still no word after a fortnight, they obviously don't care about retaining our business so we're moving our loans elsewhere. Good riddance.

Read full review

I've been with loans.com.au for over 5 years, with 3 mortgages & approximately $200k in savings. Over that time they've snuck the rate up on us to 1% above their advertised rate. When we rang them about it, they said someone would call us back within 5 working days. Still no word after a fortnight, they obviously don't care about retaining our business so we're moving our loans elsewhere. Good riddance.

Price
0/10
Features
0/10
Customer service
0/10
Convenience
0/10
Trust
0/10
Less
Shirley, Western Australia reviewed 5 months ago

What do you need to apply for a loans.com.au home loan?

To apply for a loans.com.au home loan you will need to fill in an online application form. Once completed you’ll be invited to book an appointment with a lending manager to finalise your application.

Here is a checklist of what details you may need handy to successfully complete your application: 

  • Personal details
  • Contact details including valid email address
  • Loan details such as purpose of loan, borrowing amount, estimated property value and intended property usage
  • Income including annual salary before tax, records of other source of income (e.g. rent) etc.
  • Liabilities such as existing loans and credit cards
  • Monthly living expenses (i.e. general, education, childcare and private health cover).

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