Top Home Loans in 2020

Mozo's expert home loan comparisons could help you save thousands by finding a great value home loan with the  right features for your needs. We compare over 500 home loans from 80 lenders to help you find the right loan quickly and easily.

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Getting started is easy

Simply compare today’s mortgage rates in the table below and enter your loan amount to calculate initial mortgage repayments for each loan.

How to find the best rates

Some of the best value loans on the market are often from smaller lenders. Be sure to check the more info section for the minimum deposit required for each loan, as this can vary from 5% to 30%.

Don’t forget to check fees and features

While you’re there, review the fees and features of each loan. Most variable loans offer free extra repayments and redraw, but not all loans offer a mortgage offset account. Common fees to be aware of include upfront fees, ongoing fees and discharge fees.

Top Home Loans - page last updated October 31, 2020

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure.

I want to borrow

years

  • mozo-experts-choice-2020

    2.48% p.a. variable

    2.50% p.a.

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    Details
  • mozo-experts-choice-2020

    2.09% p.a.
    fixed 2 years

    2.98% p.a.

      Compare
    Details
  • mozo-experts-choice-2020

    2.34% p.a. variable

    2.34% p.a.

      Compare
    Details
  • mozo-experts-choice-2020

    2.49% p.a. variable

    2.49% p.a.

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    Details
  • Hot Deal$2,000 Refinance Cash Bonus (T&Cs apply)

    2.68% p.a. variable

    2.69% p.a.

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    Details
  • 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.

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    Details
  • 2.61% p.a. variable

    2.67% p.a.

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    Details
  • 2.59% p.a. variable

    3.00% p.a.

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    Details
  • 2.18% p.a.
    fixed 2 years

    3.72% p.a.

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    Details
  • Hot DealSpecial rate applies to home loan applications submitted by 30th November 2020

    2.19% p.a. variable

    2.22% p.a.

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    Details
  • 2.29% p.a.
    fixed 2 years

    3.28% p.a.

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    Details
  • mozo-experts-choice-2020

    2.44% p.a. variable

    2.38% p.a.

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    Details
  • mozo-experts-choice-2020

    2.14% p.a.
    fixed 3 years

    2.41% p.a.

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    Details
  • mozo-experts-choice-2020

    2.68% p.a. variable

    2.68% p.a.

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    Details
  • 2.39% p.a.
    fixed 3 years

    3.08% p.a.

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    Details
  • 1.99% p.a.variable for 12 months and then 2.48% p.a. variable

    2.47% p.a.

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    Details
  • mozo-experts-choice-2020

    2.59% p.a. variable

    2.60% p.a.

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    Details
  • Hot Deal$3,000 cashback when you refinance your home loan to BOQ (T&Cs apply)

    2.25% p.a.
    fixed 3 years

    3.41% p.a.

      Compare
    Details
  • mozo-experts-choice-2020

    2.19% p.a.
    fixed 3 years

    2.79% p.a.

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    Details
  • 2.59% p.a. variable

    2.63% p.a.

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    Details
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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.

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Home loan resources

Views, news, tips and guides to help find the home loan for you.

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Recent home loan tips

Home Loan Reviews

ANZ Equity Manager (Breakfree Package) review
Overall 6/10
Okay but could be better!

I am not a fan of the interest rate, I feel it could be better. I have never used the free valuation each year but I plan to go and talk to the bank about our whole package as I feel I am not getting the most I can from it.

Read full review

I am not a fan of the interest rate, I feel it could be better. I have never used the free valuation each year but I plan to go and talk to the bank about our whole package as I feel I am not getting the most I can from it.

Price
3/10
Features
5/10
Customer service
4/10
Convenience
4/10
Trust
4/10
Less
Amanda, South Australia reviewed 1 day ago
Homestar Star Classic Home Loan review
Overall 3/10
After you join they creep your rate up. Avoid

I've only been a customer for 18 months but already my rate is higher than the one they offer new customers. Its no introductory offer its just once you sign up your individual variable rate is put up above what they offer. I've contacted the bank but no response. Regretful decision changing to the them.

Read full review

I've only been a customer for 18 months but already my rate is higher than the one they offer new customers. Its no introductory offer its just once you sign up your individual variable rate is put up above what they offer. I've contacted the bank but no response. Regretful decision changing to the them.

Price
7/10
Features
9/10
Customer service
2/10
Convenience
1/10
Trust
1/10
Less
Shane, Queensland reviewed 1 day ago
Commonwealth Bank Home Loan review
Overall 9/10
Great products and great staff

You can always find a branch wherever you are. Extra ATMs in shopping centres. Friendly staff in branches and over the phone. I have been with them for over 30 years.

Read full review

You can always find a branch wherever you are. Extra ATMs in shopping centres. Friendly staff in branches and over the phone. I have been with them for over 30 years.

Price
8/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Ruth, Queensland reviewed 1 day ago

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Recent home loan articles

One in four Australians eager to buy investment property, despite recession

The COVID-19 pandemic has turned the economy on its head and forced many of us to rethink our financial goals, but new research from ING has found Aussies’ interest in the property market has hardly waned.In a survey of 2,075 Australians, nearly half (44%) viewed property as the current strongest investment option and over a quarter (26%) believed now is the best time to get a foot on the property ladder.“The research suggests COVID-19 has left many Aussies cautiously thinking about how they can invest to take greater control of their financial future,” said ING’s head of home loans, Julie-Anne Bosich.“While, understandably, not everyone is in a position to use their finances to invest, our research has found that for those who are, the preferred investment choice is property, especially in the current climate where interest rates are at a record low.”Among this property-hungry cohort, young Australians are well-represented. 25% of millennials surveyed said they are currently saving to purchase a home and 50% felt positive about their chances, with low interest rates and dipping prices the main drivers of confidence.RELATED: Why a 1% difference in your home loan rate mattersHaving fewer opportunities to spend has also worked out in Aussies’ favour, with 37% of respondents saving more than usual since the pandemic struck and 56% stating they are currently in a better position to achieve their financial goals.As for where Australians are looking to buy, 28% of respondents are currently eyeing Melbourne, followed closely by Sydney (24%), Brisbane (17%), and the rest of New South Wales (16%).It’s perhaps no surprise that Melbourne currently tops the list of most sought-after locations. According to property research firm CoreLogic, Melbourne property values have fallen a staggering 5.5% since March.Since restrictions were eased and property agents given permission to resume onsite inspections, new listings in the city have jumped up by 330%.“The result is likely due to months of pent-up decisions to sell from vendors, and reflects how the real estate transaction process has remained tied to physical inspections,” said CoreLogic head of research Australia, Eliza Owen.If you’re looking to purchase an investment property of your own, be sure to check out our investment home loan comparison page, or browse the selection below.

Repayment holidays lower mortgage stress to near pre-crisis levels

Despite unprecedented economic headwinds, mortgage holders across Australia have managed to stave off default, with new research from Roy Morgan showing levels of mortgage stress approaching pre-crisis levels.In the three months to August 2020, an estimated 751,000 mortgage holders (20.2%) were considered ‘at risk,’ while 433,000 (12.5%) were considered ‘extremely at risk.’ According to Roy Morgan, both numbers are among the lowest recorded.Apart from Victoria, which had re-entered lockdown at the time following a second coronavirus outbreak, most of the country was “progressing towards a ‘COVID-normal’ situation,” thanks to a raft of support measures from banks and the government.This comes despite 11.2 million Australians (72%) experiencing a change to their employment circumstances due to COVID-19 in May, with that number remaining elevated at 10.4 million in July.For many, these employment changes were negative, and included a drop in hours worked, a slowdown or halt in business activity, being stood down, having pay reduced, and being made redundant.RELATED: Why a 1% difference in your home loan rate mattersAccording to Roy Morgan chief executive, Michele Levine, changes like these are typically associated with an increase in mortgage stress, with job loss in particular causing an immediate jump into a risk category.“Over two-in-three mortgages rely on more than one income and our analysis shows losing even the lower of these two incomes causes an immediate quadrupling of those mortgage holders considered ‘at risk’ or ‘extremely at risk,” she said.While the current support measures appear to have fortified the property market, Levine worries they have merely kicked a potential real estate crisis further down the road.“Because of these measures the impact of COVID-19 is yet to be fully felt, but we already know there will be significant pressures emerging when the support ends,” she said.“JobKeeper has already been reduced in early October 2020 and is set to end entirely by April 21 while the mortgage deferrals offered by banks to customers in financial distress are set to run out at the same time.“One of the biggest tasks for banks during the present period is to determine which customers will be able to return to paying their mortgage in the period ahead and which customers will not have that capacity when the deferrals end early next year.”For information about the assistance available to households and businesses, along with tips to keep your finances in good health amid the current crisis, browse our guide to coronavirus and your finances.