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Variable Rate Home Loans

  • Variable rate home loans offer some of the cheapest mortgage deals on the market! Many come feature packed with low fees, redraws and extra repayment options. Just make sure you can cover the repayments if rates begin to rise.

  • How do I choose the best variable rate loan for me?

    It's easy to find the best variable rate home loan at a glance with Mozo. The comparison rate will show you the 'true cost' of each loan including any hidden fees and extra costs. Or, you can try our home loan negotiator service to get help negotiating a better home loan deal.

  • Will rate changes affect my loan?

    The real trick to making the most of a variable loan is to budget for hikes and drops in interest rates when the RBA changes the cash rate. You can find out how rate changes will affect your repayments with our nifty rate change calculator.

  • How do I apply online for a loan?

    That's Easy! Once you've chosen the best loan for you click the blue Go to site button to the right of your favourite variable rate loan and you'll be redirected to an online application form.

Home loan comparisons on Mozo Rates updated daily

  • Mortgage House Advantage Home Loan 80 Special (Owner Occupier)

    Mortgage House Advantage Home Loan 80 Special (Owner Occupier)

    • $0 Application fees
    • Free & unlimited redraws
    • Instantly switch from your current variable rate to a fixed rate.

    variable rate

    3.73% p.a.

    comparison rate*

    3.88% p.a.

    Upfront fees

    $200

    Go to site

    More info

    • $0 Application fees
    • Free & unlimited redraws
    • Instantly switch from your current variable rate to a fixed rate.
    • Variable rate: 3.73% p.a.
    • Comparison rate*: 3.88% p.a.
    • Upfront fees: $200
    • Ongoing fees: $10.00 monthly
    • Discharge fee: $450.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $500,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    7.0

    Based on 5 Mortgage House home loan reviews

    Need more information?
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  • MOZO EXPERTS CHOICE AWARDS 2016

    HSBC Discounted Home Value Loan (Owner Occupier)

    HSBC Discounted Home Value Loan (Owner Occupier)

    • Owner occupier only
    • Available to new borrowings to HSBC of $50,000 or more
    • Your own Personal Relationship Manager

    variable rate

    3.75% p.a.

    comparison rate*

    3.77% p.a.

    Upfront fees

    $270

    Go to site

    More info

    • Owner occupier only
    • Available to new borrowings to HSBC of $50,000 or more
    • Your own Personal Relationship Manager
    • Variable rate: 3.75% p.a.
    • Comparison rate*: 3.77% p.a.
    • Upfront fees: $270
    • Ongoing fees: $0.00
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: no
    • Maximum loan to value ratio: 90.00%
    • Minimum loan amount: $50,000
    • Maximum loan amount: $7,500,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest, Interest Only
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    7.1

    Based on 32 HSBC home loan reviews

    Need more information?
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    More info

  • BCU OMG Home Loan (Owner Occupier)

    BCU OMG Home Loan (Owner Occupier)

    • Easy online application
    • 3 month pre-approval
    • Money Mag Credit Union of the Year

    variable rate

    3.84% p.a.

    comparison rate*

    4.09% p.a.

    Upfront fees

    $900

    Go to site

    More info

    • Easy online application
    • 3 month pre-approval
    • Money Mag Credit Union of the Year
    • Variable rate: 3.84% p.a.
    • Comparison rate*: 4.09% p.a.
    • Upfront fees: $900
    • Ongoing fees: $198.00 yearly
    • Discharge fee: $395.00
    • Extra repayments: yes - free
    • Redraw facility: yes - fees apply
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $100,000
    • Maximum loan amount: $1,000,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest, Interest Only
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    8.9

    Based on 13 BCU home loan reviews

    Need more information?
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  • MOZO EXPERTS CHOICE AWARDS 2016

    Gateway Credit Union Variable Rate Home Loan (LVR<80%, Owner Occupier) (Premium Package)

    Gateway Credit Union Variable Rate Home Loan (LVR<80%, Owner Occupier) (Premium Package)

    • Ability to make unlimited bulk repayments without penalty
    • Offers borrowers up to three free splits
    • Access extra features such as multiple offset accounts

    variable rate

    3.85% p.a.

    comparison rate*

    4.16% p.a.

    Upfront fees

    $0

    Go to site

    More info

    • Ability to make unlimited bulk repayments without penalty
    • Offers borrowers up to three free splits
    • Access extra features such as multiple offset accounts
    • Variable rate: 3.85% p.a.
    • Comparison rate*: 4.16% p.a.
    • Upfront fees: $0
    • Ongoing fees: $299.00 yearly
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes - free
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $150,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    8.6

    Based on 8 Gateway Credit Union home loan reviews

    Need more information?
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  • Illawarra Credit Union 2 Year Introductory Variable Home Loan

    Illawarra Credit Union 2 Year Introductory Variable Home Loan

    • Enjoy a low introductory variable rate for the first two years of your loan
    • Don’t pay any annual or ongoing fees
    • Choose weekly, fortnightly or monthly repayments

    variable rate

    3.85% p.a. variable for 24 months and then 4.85% p.a.

    comparison rate*

    4.71% p.a.

    Upfront fees

    $607

    Go to site

    More info

    • Enjoy a low introductory variable rate for the first two years of your loan
    • Don’t pay any annual or ongoing fees
    • Choose weekly, fortnightly or monthly repayments
    • Variable rate: 3.85% p.a. variable for 24 months and then 4.85% p.a.
    • Comparison rate*: 4.71% p.a.
    • Upfront fees: $607
    • Ongoing fees: $0.00
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $250,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    6.0

    Based on 3 Illawarra Credit Union home loan reviews

    Need more information?
    Go to site

    More info

  • MOZO EXPERTS CHOICE AWARDS 2016

    Bank Australia Basic Home Loan - (LVR<80%, Owner Occupier)

    Bank Australia Basic Home Loan - (LVR<80%, Owner Occupier)

    • Option to fix full loan or split between fixed and variable
    • Redraw available. Flexible repayments
    • Loan repayment pause available

    variable rate

    3.86% p.a.

    comparison rate*

    3.90% p.a.

    Upfront fees

    $595

    Go to site

    More info

    • Option to fix full loan or split between fixed and variable
    • Redraw available. Flexible repayments
    • Loan repayment pause available
    • Variable rate: 3.86% p.a.
    • Comparison rate*: 3.90% p.a.
    • Upfront fees: $595
    • Ongoing fees: $0.00
    • Discharge fee: $250.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: no
    • Maximum loan to value ratio: 80.00%
    • Minimum loan amount: $10,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest, Interest Only
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    7.7

    Based on 35 Bank Australia home loan reviews

    Need more information?
    Go to site

    More info

  • Hunter United A Breath of Fresh Air Home Loan (Owner Occupied, LVR<90%)

    Hunter United A Breath of Fresh Air Home Loan (Owner Occupied, LVR<90%)

    • $0 application fee for loans over $300k
    • 100% offset facility & 1 free redraw per month
    • Experience the customer-owned difference

    variable rate

    3.87% p.a.

    comparison rate*

    3.97% p.a.

    Upfront fees

    $0

    Go to site

    More info

    • $0 application fee for loans over $300k
    • 100% offset facility & 1 free redraw per month
    • Experience the customer-owned difference
    • Variable rate: 3.87% p.a.
    • Comparison rate*: 3.97% p.a.
    • Upfront fees: $0
    • Ongoing fees: $8.00 monthly
    • Discharge fee: $80.00
    • Extra repayments: yes
    • Redraw facility: yes - 1st redraw per month free
    • Offset account: yes
    • Maximum loan to value ratio: 90.00%
    • Minimum loan amount: $300,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    9.7

    Based on 3 Hunter United home loan reviews

    Need more information?
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    More info

  • MOZO EXPERTS CHOICE AWARDS 2016

    Newcastle Permanent Discounted Variable Home Loan (Owner Occupier, Principal & Interest) (Premium Plus Package)

    Newcastle Permanent Discounted Variable Home Loan (Owner Occupier, Principal & Interest) (Premium Plus Package)

    • Experts Choice - Home Lender of the Year 2016
    • $0 application fee. 100% offset facility available
    • Additional repayments and redraws at any time

    variable rate

    3.84% p.a.

    comparison rate*

    4.24% p.a.

    Upfront fees

    $0

    Go to site

    More info

    • Experts Choice - Home Lender of the Year 2016
    • $0 application fee. 100% offset facility available
    • Additional repayments and redraws at any time
    • Variable rate: 3.84% p.a.
    • Comparison rate*: 4.24% p.a.
    • Upfront fees: $0
    • Ongoing fees: $395.00 yearly
    • Discharge fee:
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes
    • Maximum loan to value ratio: 95.00%
    • Minimum loan amount: $150,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest, Interest Only
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    8.5

    Based on 80 Newcastle Permanent home loan reviews

    Need more information?
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    More info

  • MOZO EXPERTS CHOICE AWARDS 2016

    Gateway Credit Union Variable Rate Home Loan (LVR>80%, Owner Occupier) (Premium Package)

    Gateway Credit Union Variable Rate Home Loan (LVR>80%, Owner Occupier) (Premium Package)

    • Up to three free splits, keep a portion of your home loan fixed and a portion variable
    • 100% offset facility to reduce the amount of interest you pay on your loan
    • Redraw available with the flexibility to access funds when needed

    variable rate

    3.95% p.a.

    comparison rate*

    4.26% p.a.

    Upfront fees

    $0

    Go to site

    More info

    • Up to three free splits, keep a portion of your home loan fixed and a portion variable
    • 100% offset facility to reduce the amount of interest you pay on your loan
    • Redraw available with the flexibility to access funds when needed
    • Variable rate: 3.95% p.a.
    • Comparison rate*: 4.26% p.a.
    • Upfront fees: $0
    • Ongoing fees: $299.00 yearly
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: yes - free
    • Maximum loan to value ratio: 95.00%
    • Minimum loan amount: $150,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    8.6

    Based on 8 Gateway Credit Union home loan reviews

    Need more information?
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  • MOZO EXPERTS CHOICE AWARDS 2016

    Greater Bank Discount Great Rate Home Loan (Owner Occupier, LVR<85%, over $150k)

    Greater Bank Discount Great Rate Home Loan (Owner Occupier, LVR<85%, over $150k)

    • Experts Choice Winner 2016
    • No ongoing fee. No establishment fee. Free internet redraw facility
    • NSW, QLD, ACT customers only

    variable rate

    3.99% p.a.

    comparison rate*

    3.99% p.a.

    Upfront fees

    $0

    Go to site

    More info

    • Experts Choice Winner 2016
    • No ongoing fee. No establishment fee. Free internet redraw facility
    • NSW, QLD, ACT customers only
    • Variable rate: 3.99% p.a.
    • Comparison rate*: 3.99% p.a.
    • Upfront fees: $0
    • Ongoing fees: $0.00
    • Discharge fee: $300.00
    • Extra repayments: yes - free
    • Redraw facility: yes
    • Offset account: no
    • Maximum loan to value ratio: 85.00%
    • Minimum loan amount: $150,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest, Interest Only
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    8.6

    Based on 62 Greater Bank home loan reviews

    Need more information?
    Go to site

    More info

  • MOZO EXPERTS CHOICE AWARDS 2016

    CUA Fresh Start Basic Variable Home Loan (Owner Occupier)

    CUA Fresh Start Basic Variable Home Loan (Owner Occupier)

    • Low interest rate
    • No ongoing fees
    • Free redraw facility for easy access to additional payments

    variable rate

    3.99% p.a.

    comparison rate*

    4.04% p.a.

    Upfront fees

    $795

    Go to site

    More info

    • Low interest rate
    • No ongoing fees
    • Free redraw facility for easy access to additional payments
    • Variable rate: 3.99% p.a.
    • Comparison rate*: 4.04% p.a.
    • Upfront fees: $795
    • Ongoing fees: $0.00
    • Discharge fee: $200.00
    • Extra repayments: yes - free
    • Redraw facility: yes - free
    • Offset account: no
    • Maximum loan to value ratio: 90.00%
    • Minimum loan amount: $10,000
    • Maximum loan amount: $5,000,000
    • Type of loan: Variable
    • Repayment types: Principal & Interest, Interest Only
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    7.8

    Based on 89 CUA home loan reviews

    Need more information?
    Go to site

    More info

  • NAB Base Variable Rate Home Loan (Owner Occupier, Principal & Interest)

    NAB Base Variable Rate Home Loan (Owner Occupier, Principal & Interest)

    • Low ongoing rate
    • No annual or monthly fees
    • Free extra repayments and redraw facility

    variable rate

    4.17% p.a.

    comparison rate*

    4.22% p.a.

    Upfront fees

    $600

    Go to site

    More info

    • Low ongoing rate
    • No annual or monthly fees
    • Free extra repayments and redraw facility
    • Variable rate: 4.17% p.a.
    • Comparison rate*: 4.22% p.a.
    • Upfront fees: $600
    • Ongoing fees: $0.00
    • Discharge fee: $350.00
    • Extra repayments: yes - free
    • Redraw facility: yes
    • Offset account: no
    • Maximum loan to value ratio: 95.00%
    • Minimum loan amount: $20,000
    • Maximum loan amount:
    • Type of loan: Variable
    • Repayment types: Principal & Interest
    • Availability: Owner Occupier
    • Repayment options: Weekly, Fortnightly, Monthly
    Overall rating

    7.2

    Based on 864 NAB home loan reviews

    Need more information?
    Go to site

    More info

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* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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