Home Loan Comparison
With rates rising, now is the time to compare home loans. It’s simple and quick, and you can find loans as low as 5.48% (comparison rate^ 6.24%).
Instantly compare 5400+ Canstar expert rated loans based on the inputs below
Redraw freely – Access your additional payments.
Unlimited additional repayments free of charge.
Showing 20 of 430 results
To see more results adjust the filters above
Unsure of a term in the above table? View glossary
The initial results in the table above are sorted by Star Rating (High-Low) , then Comparison rate^ (Low-High) , then Provider Name (Alphabetical) . Additional filters may have been applied, see top of table for details.
Canstar is Australia’s biggest financial comparison site*,
comparing more brands than any other.
Why compare home loans with Canstar?
No cost to you
Using our comparison tool to find a better deal is free. We may receive a commission from our online partners if you apply for a home loan you find on our site
Expert research
Our team of home loan research experts crunch the numbers to rate home loans based on value (price as well as features) to help you compare. Read the home loans methodology.
A wide range of lenders
We rate and review home loans from more than 105 brands which means you can compare and choose products from both large and challenger brands, established and new. and brands you might not have access to via a mortgage broker.
Easy to compare & apply
Our home loan comparison tool allows you to filter your search results so it’s easy to find the right product for you. What’s more, you can click straight through to many of our online lenders, making it easy to apply instantly.
Home loan guides and resources
Canstar’s articles and guides can help you understand the steps involved in getting a home loan, whether you’re buying your first home or looking for a better deal on your current loan.
Can I afford to buy a home?
Choosing a home loan
Will I qualify?
Home loan process
Home loan tips from our experts
Effie Zahos, Canstar Ambassador & Money Expert InvestSMART
Maximise your offset account
A simple way to save interest on your home loan is to make full use of your offset account by arranging for your salary to be paid straight into your offset account and using a credit card with interest-free days to pay for your expenses.
The idea is that you live off your credit card while keeping your pay in the offset account to work on reducing your interest bill. You then need to pay off your credit card in full before the end of the interest-free period. Take care not to overspend. It’s best to set your credit card limit close to what you estimate your monthly expenses are so that you don’t spend more than you earn.
Fixed versus variable
If you prefer a steady ship, a fixed-rate loan might be up your alley. The good news is, they’re more flexible than they used to be. Most let you make extra payments during the fixed term and even link an offset account to the home loan. You could even lock in a rate cheaper than the current variable rates and score some instant savings.
Terry Ryder, Managing Director Hotspotting.com.au
The dominant paradigm in real estate is changing, apartments are challenging
One of the dominant paradigms of Australian real estate is that houses provide better capital growth than apartments. The land content is deemed to be the key factor. But that dynamic is changing. Throughout 2023 more and more buyers opted for units and townhouses, for lifestyle, location and affordability. Down-sizers, first-home buyers, affordable lifestyle-seekers and migrants accustomed to apartment-style living are among the cohorts that have lifted demand in locations where units dominate the dwelling mix.
Increasingly, we are seeing examples of locations where units have outperformed houses on annual price rises and/or on long-term capital growth.
The inner-city areas of our major cities and regional markets like the Gold Coast and the Sunshine Coast are all feeling their strengthening trend. You can find out more about the annual price growth in each of the nation’s major market jurisdictions in Canstar’s Rising Stars Report.
Latest in home loans
Home Loan Calculators
Compare Home Loans
Canstar assesses over 3,000 mortgages from more than 80 providers across Australia, to help you compare home loans and find a home loan to suit your needs.
What is a home loan or mortgage?
A home loan or mortgage is a loan from a bank or other financial institution to buy, build, refinance, or renovate a residential property. In Australia, a home loan typically has a 25-year or 30-year loan term, is repaid via regular payments and accrues interest. Interest is what a lender charges to let you borrow money, written as a percentage of the home loan amount.
What are the different types of home loans in Australia?
There are a number of different types of home loans or mortgages available in Australia, and the type best-suited to you will depend largely on your personal circumstances and preferences, including why you are taking out a home loan.
Here is an explanation of some of the most common types of home loans you are likely to encounter. A single loan can potentially be a combination of two or three of these, based on its interest rate type, repayment type and loan purpose.
Variable rate home loans
A variable home loan interest rate can fluctuate according to the lender’s wishes, although banks are often influenced by economic factors such as the official cash rate set by the Reserve Bank of Australia.
The rate can go up or down over time, varying your repayments. These loans generally allow for greater flexibility and more features than fixed rate loans, though their interest rates can sometimes be higher as well.
Fixed rate home loans
A fixed rate home loan allows a borrower to lock in an interest rate for a particular period of time, typically from one year up to five years. The interest rate that the borrower pays will remain the same for that amount of time, regardless of any rises or falls in the RBA cash rate or the lender’s variable rates.
The home loan rate will then normally revert to variable, unless the lender and borrower agree to roll it over for another fixed term.
Split rate home loans
A split home loan refers to when a customer pays a fixed rate on part of their home loan and a variable rate on the rest of it.
Principal and interest home loans
If a loan has principal and interest repayments, this means the borrower has to pay back the loan amount alongside the interest throughout the life of the loan.
Interest-only home loans
An alternative to principal and interest, an interest-only home loan is where the borrower only has to pay back the interest on the loan for the first few years, before the loan reverts to principal and interest repayments.
This may suit some borrowers as it can lead to lower repayments in the short-term, but interest-only loans tend to work out more expensive in the long run.
Owner-occupier home loans
These are home loans where the borrower intends to live in the property rather than renting it out to make money. Interest rates on these mortgages tend to be slightly cheaper than on investor loans.
Owner-occupier loans can be further broken down based on the borrower’s intentions, including whether they are taking out the loan to buy their first home, to buy another home, to build a home on vacant land or to refinance an existing home loan.
These differences can affect the products or rates you can access in some cases. For example, you may be eligible for certain discounts or special offers if you are a first home buyer.
Investor home loans
These are loans for property investors who plan to rent or sell the property they’re buying for a profit rather than living in it.
Both owner-occupier and investor home loans can be fixed, variable or split, and may offer principal and interest or interest-only repayments, depending on the specific lender and loan.
Compare home loans for investment properties
Regardless of which type of home loan you choose, it’s important to bear in mind that a home loan is almost always secured against your property, so if you are unable to continue paying the loan, the lender may ultimately be able to evict you from the property and sell it to settle the debt.
If you have another person act as a guarantor for your home loan, that person may also have to pay back the debt if you can’t meet your repayments.
Why should I compare home loans?
With thousands of home loans on the market in Australia, the amount of choice available to you could seem overwhelming. Whether you are a first home buyer, looking for find a loan that’s suitable for you, or a refinancer, looking for a cheaper rate than the one you’re currently on, comparing home loans can allow you to find a loan that fits your needs and circumstances, and save hundreds if not thousands in fees and interest rates over the course of the loan.
In addition to saving money, comparing home loans can also help you find the best home loan that meets your needs and requirements. For example, if you want a home loan that will allow you to make additional repayments in order to pay down the balance faster, or even an interest only home loan that could help you save on repayments in the short term, then comparing home loans can help you find just the kind of loan you need.
How to compare home loans
Canstar currently compares more than 3,000 home loans, providing home buyers with confidence when they compare mortgages and interest rates.
Use our home loan comparison selector by adding information that applies to you, and then hitting the “compare” button. You will be presented with a list of products, which will typically be ordered according to their Canstar Star Rating, or their applicable comparison rate.
To help you make a decision about what may be the best mortgage for your needs, you can change the order of the results by adjusting the settings at the top of the table, and change what you see in the table via the filter function.
When it comes to comparing home loans, the interest rate is an important consideration and can make a significant difference in the total cost of any loan. However, there are a number of other factors you may also want to consider. These factors include:
- any fees attached to the loan
- the features available, including whether it has an offset account or redraw facility.
Compare home loan rates
Home loan interest rates can vary significantly between home loan providers. Home loans are a long-term debt, and even small differences in interest rates can make a big difference to the total amount you will pay on your loan over its lifetime. So, combining the best mortgage rate you can find with low fees and quality features can be important when looking for the best home loan rates.
You can use our Home Loan Calculator to help you work out what your interest rate could cost you, both in monthly repayments and over the life of the loan.
Looking for the cheapest or lowest home loan rate?
Whether you’re buying a new home, building or refinancing, you may be tempted to sign up for the cheapest home loan you can find. It’s worth keeping in mind that going with the lowest interest rate won’t necessarily mean you’re getting the cheapest home loan deal or the best home loan rates in the long run. Upfront and ongoing fees can cancel out some of the money you’d save in interest, while the features you get with the loan may boost the value you’re getting overall. For example, a home loan with a slightly higher interest rate but which allows you to make extra repayments and offset interest might better suit the needs of some homeowners and help them get ahead faster than the ‘cheapest’ advertised home loan rate.
About our home loan experts
Steve Mickenbecker, Group Executive Financial Services
Bachelor of Economics, University of Queensland; Master of Business Administration (MBA), University of Melbourne
Steve Mickenbecker is in Canstar’s Group Executive Team, bringing more than 30 years of experience in the Australian financial services industry. As a financial commentator for Canstar, Steve enjoys sharing his expertise across topics such as home loans, superannuation, insurance, mortgages, banking, credit cards, investment, budgeting, money management and more.
Steve regularly speaks with leading media outlets across Australia. He is often featured on the morning TV programs Sunrise and the Today Show and leading evening TV news programs and channels including Seven News (7NEWS), Nine News (9News), SBS and The Project. He also provides regular commentary to publications such as the Australian Financial Review, Banking Day, Business Insider, The Courier-Mail, The Daily Mail, The Daily Telegraph, The Herald Sun, Mamamia, news.com.au, The Sydney Morning Herald, The Age, The Australian, The New Daily and Yahoo Finance.
Steve brings more than a decade of experience at Canstar, with his earlier responsibilities including managing operations and developing the future direction for the business, as well as leading the ratings, PR and editorial teams in providing valuable financial insights and commentary. Today, Steve continues to support the design of Canstar’s financial expert ratings and the group’s strategy development.
Steve started his finance career with National Australia Bank (NAB), gaining more than 20 years of experience across business disciplines including branch management, corporate advisory, strategy, credit, regional and district management. He was also a head of business. During his tenure at NAB, Steve undertook various strategic projects, working with consultants such as McKinsey and Corporate Value Associates. Steve has also worked for Suncorp in Group Strategy, as well as in leadership roles specialising in small business and customer segmentation.
During his professional career, Steve has worked through stagflation, interest rates at 18% and the recession “we had to have”. The digital revolution has opened up a brave new world for fintech to play in, and Steve anticipates that it will be better for customers – as well as more exciting for providers – in the future.
Josh Sale, Home Loans Ratings Manager
As Canstar’s Ratings Manager, Josh Sale is responsible for the methodology and delivery of Canstar’s Home Loan Star Ratings and Awards. With tertiary qualifications in economics and finance, Josh has worked behind the scenes for the last five years to develop Star Ratings and Awards that help connect consumers with the right home loan for them.
Josh is passionate about helping consumers get hands-on with their home loans, always reminding home buyers that finding the right loan can be as important for your finances as negotiating a fair property purchase price. Josh has been interviewed by media outlets such as the Australian Financial Review, news.com.au and Money Magazine, discussing topics including home loan equity and wider finance trends.
When it comes to Josh’s own property journey, the home loans expert once bought two houses in the same transaction when he ensured the cubby house his daughter loved was listed on the purchase contract for his new home. You can follow Josh on LinkedIn, and Canstar on Twitter and Facebook.
Compare home loans that suit your needs...
Compare some of the lowest variable home loan rates
Compare Line of credit Home Loans
Compare interest only home loans
Best Variable home loans
Pre-approval home loans
Cheap home loans
Family home guarantee Home Loans
1 Year Fixed home loans
2 Year fixed home loans
3 year fixed home loans
Compare 4 year fixed home loan rates
Compare 5-year fixed home loans
What our Canstar Community is saying
Brian. S
I read most of their ratings about things that concern me or that I might purchase into the future. I find them a no-nonsense group who give you the basic descriptions and facts.
Rachel. B
I find Canstar very knowledgeable, reliable and independent in the information it provides.
Alan. P
I get a regular newsletter from this company. They have some excellent material on their website.
Got questions? We have answers...
Looking for something specific?
Important information
For those that love the detail
This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.