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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.

Variable rate home loan comparisons on Mozo - rates updated daily

years
  • MOZO EXPERTS CHOICE 2017

    Essentials Variable 80

    Owner Occupier, Principal & Interest

    • A super-low rate available to purchases & refinance
    • No monthly fees, Redraw facility with no minimum
    • Split loan facility – up to five free splits with fixed rate or identical variable loan product

    variable
    rate

    3.64% p.a.

    comparison
    rate*

    3.66% p.a.

    upfront
    fees

    $520

    initial monthly
    repayment**

  • Basic Home Loan Special

    LVR<80%, Owner Occupier

    • Special rate of 3.66% p.a. comparison rate applies to a maximum LVR of 80%
    • Redraw available. Flexible repayments
    • Loan repayment pause for eco-upgrades to your home or maternity leave

    variable
    rate

    3.65% p.a.

    comparison
    rate*

    3.66% p.a.

    upfront
    fees

    $0

    initial monthly
    repayment**

  • Limited time offer

    Premier Standard Variable Home Loan Premier

    Owner Occupier, Principal & Interest

    • A competitive variable rate of 3.69%* (comparison rate 3.70%)
    • 100% offset account
    • Unlimited overpayments and free redraws

    variable
    rate

    3.69% p.a.

    comparison
    rate*

    3.70% p.a.

    upfront
    fees

    $450

    initial monthly
    repayment**

  • MOZO EXPERTS CHOICE 2017

    Flexible Home Loan Member Package

    Owner Occupier, LVR<80%, Principal & Interest

    • 3.69% p.a. / 4.11% p.a. Comp Rate
    • Annual Fee of $395. Loan size $400k-$699k
    • Experts Choice - Australia's Best Bank 2018

    variable
    rate

    3.69% p.a.

    comparison
    rate*

    4.11% p.a.

    upfront
    fees

    $0

    initial monthly
    repayment**

  • Bonus $1,000 into a USaver account

    UHomeLoan - Discount Offer

    Owner Occupier, Principal & Interest

    • $0 application fee for variable rate, $0 ongoing fees, $0 annual fees
    • Get $1,000 cash into a USaver account on any loan (new or refinance) over $200k. (T&Cs apply).
    • 20% minimum deposit required

    variable
    rate

    3.69% p.a.

    comparison
    rate*

    3.69% p.a.

    upfront
    fees

    $0

    initial monthly
    repayment**

  • Base Variable Rate Home Loan Special Offer

    Owner Occupier, Principal & Interest

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

    variable
    rate

    3.69% p.a.

    comparison
    rate*

    3.73% p.a.

    upfront
    fees

    $600

    initial monthly
    repayment**

  • Low Rate Home Loan with Offset

    LVR<80%, Owner Occupier, Principal & Interest

    • $0 Application Fee, Free Redraws, Extra Repayments
    • P&I or Interest Only Up to 5yrs
    • Free 100% Offset Account

    variable
    rate

    3.64% p.a.

    comparison
    rate*

    3.67% p.a.

    upfront
    fees

    $286

    initial monthly
    repayment**

  • Featured product

    Featured product

    First Rate Home Loan

    Owner Occupier, Principal & Interest, LVR<80%

    • $0 establishment fee
    • $1,000 cash back
    • Deferred payments for the first 3 months

    variable
    rate

    3.64% p.a.

    comparison
    rate*

    3.69% p.a.

    upfront
    fees

    $600

    initial monthly
    repayment**

  • Advance Variable Home Loan

    Owner Occupier, Principal & Interest

    • Offset your interest to save
    • Free redraw facility for easy access to additional payments
    • No monthly or application fees

    variable
    rate

    3.65% p.a.

    comparison
    rate*

    3.66% p.a.

    upfront
    fees

    $195

    initial monthly
    repayment**

  • BIDehome

    Owner Occupied, Principal & Interest, LVR<80%

    • No Commissions
    • Loans up to $1.5M
    • Purchase or Refinance

    variable
    rate

    3.49% p.a.

    comparison
    rate*

    3.49% p.a.

    upfront
    fees

    $1,499

    initial monthly
    repayment**

  • Discount Variable Home Loan

    Owner Occupier, LVR<80%

    • Heritage’s current lowest variable interest rate
    • Unlimited extra repayments and unlimited redraw
    • People First service from your own dedicated lending specialist

    variable
    rate

    3.69% p.a.

    comparison
    rate*

    3.74% p.a.

    upfront
    fees

    $750

    initial monthly
    repayment**

  • Low Rate Special Variable Home Loan

    Owner Occupier, LVR<80%

    • Free redraw and unlimited repayments
    • 100% mortgage offset account
    • No upfront or ongoing fees

    variable
    rate

    3.79% p.a.

    comparison
    rate*

    3.79% p.a.

    upfront
    fees

    $0

    initial monthly
    repayment**

  • MOZO EXPERTS CHOICE 2017

    Discount Great Rate Home Loan

    Owner Occupier, LVR<90%, over $150k

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

    variable
    rate

    3.74% p.a.

    comparison
    rate*

    3.74% p.a.

    upfront
    fees

    $0

    initial monthly
    repayment**

  • The Online Home Loan

    LVR<70%, Owner Occupier

    • Upfront Rates Tailored to you
    • No ongoing fees
    • Easy online application

    variable
    rate

    3.64% p.a.

    comparison
    rate*

    3.64% p.a.

    upfront
    fees

    $363

    initial monthly
    repayment**

  • OMG Home Loan

    Owner Occupier, Principal & Interest

    • Easy online application
    • Choose Principal and Interest or Interest Only options for your bcu OMG loan
    • With redraw facility available and easy pre-approval valid for 3 months, we will make it happen. Apply online now

    variable
    rate

    3.79% p.a.

    comparison
    rate*

    3.83% p.a.

    upfront
    fees

    $600

    initial monthly
    repayment**

  • MOZO EXPERTS CHOICE 2017

    Discounted Variable Home Loan Premium Plus Package

    Owner Occupier, Principal & Interest

    • Interest rate of 3.64% p.a. variable & a comparison rate* of 4.03% p.a.
    • Owner Occupier, Principal & Interest
    • Experts Choice - Australia's Best Customer-Owned Banking & Home Lender of the Year 2018

    variable
    rate

    3.64% p.a.

    comparison
    rate*

    4.03% p.a.

    upfront
    fees

    $0

    initial monthly
    repayment**

  • Basic Variable Rate Home Loan

    Owner Occupier

    • No annual or monthly fees
    • Flexible repayment options
    • Redraw facilities

    variable
    rate

    3.77% p.a.

    comparison
    rate*

    3.81% p.a.

    upfront
    fees

    $695

    initial monthly
    repayment**

  • QLD Only

    Discounted Classic Home Loan

    LVR<80%, Owner Occupier

    • Free online redraw
    • No penalty for extra repayments
    • No monthly fees

    variable
    rate

    3.84% p.a.

    comparison
    rate*

    3.86% p.a.

    upfront
    fees

    $200

    initial monthly
    repayment**

Want more? Compare all 503 home loans in the Mozo comparison engine.

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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.

**Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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