Considering a home loan but not sure how it’s will fit into the monthly budget? Plug the details of your loan into our handy mortgage repayments calculator to crunch the numbers on what amount you’ll be up for each month, fortnight or week.
Search promoted home loans below or do a full Mozo database search. Advertiser disclosure.
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
1 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR
1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
A super low introductory rate home loan with no monthly or ongoing fees. Unlimited free redraws and unlimited additional repayments to help you build your equity and own your home sooner. Multiple loan splits available. (Rates revert after introductory period ends). 20% minimum deposit required.
2.19% p.a. variable
2.19% p.a.
<60% LVR, Owner Occupier, Principal & Interest
2.19% p.a. variable
2.19% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 40% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
2.34% p.a. variable
2.34% p.a.
Owner Occupier, Principal & Interest
2.34% p.a. variable
2.34% p.a.
Enjoy a super low rate, $0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Free redraw with flexible repayments. Min 20% deposit.
2.04% p.a.
fixed 3 years
2.73% p.a.
Owner Occupier, LVR <80%, 300k+
2.04% p.a.
fixed 3 years
2.73% p.a.
Enjoy $3,000 cashback when you refinance with Virgin Money (T&Cs apply). Additional repayments up to $10,000 per annum. Reverts to the discounted variable rate on expiry of the fixed term.
Hot DealCash bonus offer!
1.89% p.a.
fixed 2 years
2.94% p.a.
Owner Occupier, Principal & Interest, <80% LVR
1.89% p.a.
fixed 2 years
2.94% p.a.
No monthly account keeping fees & No loan establishment fee. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.
Hot Deal$3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)
1.99% p.a.
fixed 4 years
2.90% p.a.
Owner Occupier, Principal & Interest, <80% LVR
1.99% p.a.
fixed 4 years
2.90% p.a.
Have the certainty of fixed repayments with a competitive rate from BOQ. Flexible repayment options available and make up to $5,000 in additional repayments annually. $3,000 cashback when you refinance your home loan to BOQ (min. $250k lending, max 80% LVR, T&Cs apply).
1.95% p.a.
fixed 3 years
2.27% p.a.
Owner Occupier, Principal & Interest
1.95% p.a.
fixed 3 years
2.27% p.a.
$0 fees and easy application with the Mozo Experts Choice Home Lender Bank of the Year.^ Choose between weekly, fortnightly or monthly repayments. 3 year fixed rates are for new Owner Occupier Principal & Interest loans.
1.99% p.a.variable for 24 months and then 2.50% p.a. variable
2.93% p.a.
Owner Occupier, Principal & Interest
1.99% p.a.variable for 24 months and then 2.50% p.a. variable
2.93% p.a.
The Works Package 2 year intro special variable rate Home Loan, for new owner occupied P&I home loans $150k and over. It comes with a 100% offset account to make your home loan repayments
2.59% p.a. variable
2.63% p.a.
Owner Occupier, Principal & Interest
2.59% p.a. variable
2.63% p.a.
Enjoy a great low rate with no ongoing fees. Ability to split your loan between fixed and variable. 100% offset account. Refinance and get $2,000 cashback for home loans over $250k with LVR ≤80%. Limited time offer extended, T&Cs apply.
Hot DealVic customers only
2.40% p.a.
fixed 2 years
3.73% p.a.
Owner Occupier, Principal & Interest
2.40% p.a.
fixed 2 years
3.73% p.a.
GMCU competitive 2 year fixed rates as low as 2.40% p.a. (3.73% p.a. comparison rate). Offset account available and free extra repayments.
2.48% p.a. variable
2.50% p.a.
Owner Occupier, Principal & Interest
2.48% p.a. variable
2.50% p.a.
A low-rate home loan that could save you thousands, with no ongoing fees plus unlimited extra repayments and free redraws. Mozo Experts Choice Low Cost Home Loan 2020.^ You'll need to be borrowing $1 million or less and have at least a 20% deposit required.
Hot Deal$2,000 Refinance Cash Bonus (T&Cs apply)
2.54% p.a. variable
2.55% p.a.
LVR<80%, Owner Occupier, Principal & Interest
2.54% p.a. variable
2.55% p.a.
No monthly account keeping fee, no ongoing annual fee and no loan establishment fee on new lending of $150,000 or more. Get a $2,000 cash bonus when you refinance with an eligible Suncorp Bank Home Loan of $250k+. T&Cs & eligibility criteria apply.
2.09% p.a.
fixed 2 years
2.98% p.a.
Owner Occupier, Principal & Interest, LVR <80%
2.09% p.a.
fixed 2 years
2.98% p.a.
Have the security of a fixed rate for 2 years with the option to split with one of the HSBC variable Home Loans. No ongoing monthly service fees or annual fees. Mozo Experts Choice Fixed Home Loan 2020^
2.84% p.a. variable
2.44% p.a.
<80% LVR, Owner Occupier, Interest Only
2.84% p.a. variable
2.44% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Hot DealSpecial rate applies to home loan applications submitted by 31st December 2020
2.09% p.a. variable
2.12% p.a.
Owner Occupier, Principal & Interest, LVR <70%
2.09% p.a. variable
2.12% p.a.
Yard’s low-rate variable special home loan is packed with all features – unlimited additional repayments, free redraw, 100% offset account. Enjoy a simple online application. Special rate applies to home loan applications submitted by 31st December 2020.
Hot Deal$3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)
2.64% p.a. variable
2.81% p.a.
Owner Occupier, Principal & Interest, 70-80% LVR
2.64% p.a. variable
2.81% p.a.
An ongoing low variable interest rate with free redraw, flexible repayment options and one free valuation. Discounted Economy variable rate available for owner occupier lending with max LVR of 80%.
2.59% p.a. variable
2.60% p.a.
Owner Occupier, Principal & Interest
2.59% p.a. variable
2.60% p.a.
No ongoing fees. Free extra repayments and online redraw. Mozo Experts Choice Split Home Loan 2020 winner^
2.54% p.a. variable
2.54% p.a.
Owner Occupier, Principal & Interest
2.54% p.a. variable
2.54% p.a.
Qudos Bank No Frills Home Loan with $0 bank fees and unlimited repayments. Winner of the Split Home Loan award in 2020. ^
Hot DealVic customers only
2.33% p.a.variable for 24 months and then 3.82% p.a. variable
3.71% p.a.
Owner Occupier, Principal & Interest
2.33% p.a.variable for 24 months and then 3.82% p.a. variable
3.71% p.a.
GMCU Basic Variable Special Offer 2.33% (3.71% comparison rate) intro variable rate for 24 months. Offset account, extra repayments and redraw facility available.
2.24% p.a. variable
2.21% p.a.
60-70% LVR, Owner Occupier, Principal & Interest
2.24% p.a. variable
2.21% p.a.
Fast online application with no fees. Free extra repayments and redraw facility. Min 20% deposit. Crowned Best New Home Loan for 2020 by the Mozo Experts.^
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
Work out a budget
When you’re shopping for a home loan, it’s important to have a budget worked out so you can be sure you’re not stretching yourself too thin when it comes to monthly repayments. Visit our budget calculator and crunch the numbers to work out how much you can afford to put toward your home loan each month. From there, you can use our borrowing calculator to determine what size home loan you can afford to borrow.
But don’t forget, you’ll also need to save up for a deposit, and the size of your deposit can also affect how much money a lender will give you.
Consider your home loan term
By changing the length of your home loan term, you can take control of your monthly payments. A longer term means lower monthly payments - useful if you’re on a tight budget - but will mean you ultimately pay more in interest over the life of your loan. A shorter term will increase your monthly payments, but you’ll pay the loan off quicker, and pay less interest in the long run.
Think about repayment frequency
Some lenders are flexible with their home loan repayment schedule, meaning you can choose to make repayments either monthly, fortnightly or weekly. While monthly might be more convenient, if you can afford to make weekly payments, it will actually save you money on interest by chipping away at your loan principal more often. Not all lenders offer this option though, so choose carefully.
Take out mortgage protection insurance
This insurance will cover your repayments for a set period of time if you can’t due to illness, injury, redundancy or divorce. It’s a good security net to have, because you never know what’s going to happen in the future. This is different from Lender's Mortgage Insurance, which you need to pay if you are borrowing more than 80% of the property value.
Use extra features
A lot of home loans come jam-packed with extra features to help you pay off the loan in a way that suits you. Read up on things like an offset account, extra repayments and a redraw facility and decide which ones might be useful for you. For example, plug your details into our extra repayments calculator and find out how much interest you could save by adding another $50 to your monthly repayments.
Compare home loans
The best way to save on your home loan repayments? Find the best home loan deal right off the bat! Keep an eye on the comparison rate when choosing a home loan, and don’t forget to shop around for the best features and bonus offers. If you’re feeling a bit overwhelmed by options and don’t know where to start, head over to our home loan search tool and we’ll find you a selection of the home loans on the market that match your needs.
Bonus tip: Hover your mouse over the table to see a breakdown of how much of your repayment is interest and how much is going toward your loan balance.
