Reduce Home Loans Rate Lovers Variable Home Loan

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 90%

The details shown below are for an investor taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $50,000 $2,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $50,000 $2,000,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $50,000 $2,000,000

3.47% p.a.

3.51% p.a.

$0.00

Reduce Home Loans Rate Lovers Variable Home Loan

3.47% p.a.

3.51% p.a.

$0.00

3.74% p.a.

3.78% p.a.

$0.00

Reduce Home Loans Rate Lovers Variable Home Loan

3.74% p.a.

3.78% p.a.

$0.00

3.74% p.a.

3.78% p.a.

$0.00

Reduce Home Loans Rate Lovers Variable Home Loan

3.74% p.a.

3.78% p.a.

$0.00

Mozo Review   Reduce Home Loans Rate Lovers Variable Home Loan Review

Last updated: 11 March 2019.

What's hot:
  • Competitive 3.47% p.a. variable interest rate (3.51% p.a. comparison rate*)

  • No ongoing monthly service fee

  • Unlimited free extra repayments

What's not:
  • $150 settlement fee

Mozo snapshot:

Eying off your dream home? Well, with Reduce Home Loans Rate Lovers Variable Home Loan’s super low variable rates for owner-occupiers starting at 3.47% p.a. (3.51% p.a. comparison rate*), unlimited free extra repayments and free redraw facility, the only thing missing are the house keys!

Key features:

The Reduce Home Loans Rate Lovers Variable Home Loan offers a super competitive variable rate for owner-occupiers starting at 3.47% p.a. variable interest rate (3.51% p.a. comparison rate*), available for loans between $50,000 and $2,000,000, allowing you to borrow up to 80% of the property’s price. Loans are also available for investors and with an LVR up to 90% - just keep in mind, your loan to value ratio and the type of borrower you are will determine the rate you’ll be charged.

The Reduce Home Loans Rate Lovers Variable Home Loan has a lot of flexible features to bring to the table, such as an offset account, free extra repayments and the benefit of a free redraw facility, giving you the freedom to pay your loan off quickly and save on interest. Plus, you can choose between weekly, fortnightly and monthly repayment options. This loan also comes with the option of a split account.

Although there are no ongoing monthly service fees, watch out for other fees, such as a $150 settlement fee and estimated $275 legal fee and $250 valuation fee. If you agree to pay an extra 0.07% interest rate premium, these fees will be waived, just consider whether or not that will be a good deal for you in the long-run.

Who it's good for:

The Reduce Home Loans Rate Lovers Variable Home Loan is an excellent choice for just about any Aussie looking to buy a new home, especially those who have a 20% deposit saved up.

Any catches?

The Reduce Home Loans Rate Lovers Variable Home Loan does not offer a repayment holiday option, so if this is a feature that you’re after, there are plenty of other home loans that offer this.

Details

Rates and fees information correct as at 19 March 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
  • 3.47% p.a.

  • n/a

  • 0 Months

  • none

  • 3.51% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $275.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $2,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes

  • none

  • Option to waive fees when an extra 0.07% interest rate premium.

*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 19 March 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
  • 3.74% p.a.

  • n/a

  • 0 Months

  • none

  • 3.78% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $275.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $2,000,000

  • 80.00%

  • 90.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes

  • none

  • Option to waive fees when an extra 0.07% interest rate premium.

*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 19 March 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
  • 3.74% p.a.

  • n/a

  • 0 Months

  • none

  • 3.78% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $275.00

  • $250.00

  • $150.00

  • none

  • $0.00

  • $0.00

Other financial bits
  • $50,000

  • $2,000,000

  • none

  • 80.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • $0.00

  • yes

  • yes - $10 per month

  • none

  • Option to waive fees when an extra 0.05% interest rate premium.

*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 Reduce Home Loans home loans rated by the Mozo community?

Overall customer rating
9.6/10
Price
9.4/10
Features
8.4/10
Customer service
8.6/10
Convenience
9.0/10
Trust
8.6/10

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3.67% 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.