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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

  • Budget Home Loan Special

    LVR<90%, Owner Occupier, Principal & Interest

    • Free extra repayments
    • Free redraw facility
    • Split account available

    variable
    rate

    3.69% p.a.

    comparison
    rate*

    3.69% p.a.

    upfront
    fees

    $0

    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*

    3.71% p.a.

    upfront
    fees

    $150

    initial monthly
    repayment**

  • Major Bank Deal

    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*

    4.21% p.a.

    upfront
    fees

    $600

    initial monthly
    repayment**

  • Equaliser Home Loan

    Owner Occupier

    • Switch with confidence to Bankwest's Equaliser Home Loan
    • A variable rate loan for Owner Occupiers making Principal and Interest repayments, with a 3 year introductory period
    • Flexible repayment options, free online redraw & No monthly fees

    variable
    rate

    3.72% p.a.variable for 36 months and then 4.32% p.a.

    comparison
    rate*

    4.19% p.a.

    upfront
    fees

    $250

    initial monthly
    repayment**

  • Low Rate Special Variable Home Loan

    Owner Occupier, LVR<70%

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

    variable
    rate

    3.73% p.a.

    comparison
    rate*

    3.73% p.a.

    upfront
    fees

    $0

    initial monthly
    repayment**

  • MOZO EXPERTS CHOICE 2017

    Mortgage Saver Special

    Owner Occupier, Principal & Interest

    • $0 Establishment fee
    • Free home & contents insurance for 1 year (T&Cs apply)
    • Borrow up to 95% of the property value

    variable
    rate

    3.74% p.a.

    comparison
    rate*

    3.74% p.a.

    upfront
    fees

    $0

    initial monthly
    repayment**

  • 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**

  • Flexible Home Loan Member Package

    Owner Occupier, LVR<80%, Principal & Interest

    • 3.74% p.a. / 4.15% p.a. Comp Rate
    • Annual Fee of $395. Loan size $400k-$699k
    • Owner Occupied. LVR <80%

    variable
    rate

    3.74% p.a.

    comparison
    rate*

    4.15% p.a.

    upfront
    fees

    $0

    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

    3.78% p.a.

    comparison
    rate*

    3.79% p.a.

    upfront
    fees

    $0

    initial monthly
    repayment**

  • Select Basic Variable

    LVR<80%, Owner Occupier

    • A competitive rate available with no ongoing fees
    • Minimum of 5% deposit required for owner-occupied loans (conditions apply)
    • Reduce interest by making additional payments. Access your extra funds via a redraw facility

    variable
    rate

    3.79% p.a.

    comparison
    rate*

    3.80% p.a.

    upfront
    fees

    $330

    initial monthly
    repayment**

  • MOZO EXPERTS CHOICE 2017

    Platinum Home Loan

    Owner Occupied, LVR<90%

    • Join the big bank rebellion & pay NO application or valuation fees
    • Only 10% deposit required, 100% offset & redraw facilities
    • Award winning, customer owned banking

    variable
    rate

    3.87% p.a.

    comparison
    rate*

    3.97% p.a.

    upfront
    fees

    $0

    initial monthly
    repayment**

  • Essentials Home Loan Special Offer

    LVR<90%, Owner Occupier

    • Experts Choice Winner - Best Value Full Feature Home Loan
    • 100% offset account
    • No monthly, annual or establishment fees

    variable
    rate

    3.97% p.a.

    comparison
    rate*

    3.97% p.a.

    upfront
    fees

    $0

    initial monthly
    repayment**

  • Standard Variable

    Owner Occupier

    • Great for those who want to make more than the minimum repayments
    • 100% offset account available
    • People First service from your own dedicated lending specialist

    variable
    rate

    5.14% p.a.

    comparison
    rate*

    5.25% p.a.

    upfront
    fees

    $150

    initial monthly
    repayment**

Want more? Compare all 522 home loans in the Mozo comparison engine.

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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.

**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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