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Home Loan Comparison
The RBA has begun cutting the cash rate after a series of hikes in recent years, so now is the time to compare home loans. It’s simple and quick, and you can find home loan rates as low as 4.99% (comparison rate^ 5.32%). Compare home loan rates from our Online Partners below.
Updated 5 Jul, 2025
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5.54%
Variable
5.57%
$2,852
Principal & Interest
Cashback up to $4,000*
$0 application fees, monthly or annual fees
Apply Online
Owner occupied
20% min deposit
Redraw facility
5.54%
Variable
5.58%
$2,852
Principal & Interest
Available for purchase or refinance, min 10% deposit
Fast turnaround times to meet tight settlement timeframes
No application, ongoing or monthly fees.
Owner occupied
10% min deposit
Redraw facility
5.49%
Variable
5.40%
$2,836
Principal & Interest
A simple low rate with an increasing discount.
Apply in minutes. No Unloan Fees.
Fee-free extra repayments and redraw.
Owner occupied
20% min deposit
Redraw facility
5.69%
Variable
5.71%
$2,899
Principal & Interest
Easy application. Fast approval. No annual fee.
Unlimited additional repayments free of charge.
Products issued by Ubank, part of NAB
Owner occupied
20% min deposit
Redraw facility
5.63%
Variable
5.66%
$2,880
Principal & Interest
Award-winning products and service. Fast approvals.
Discover competitive rates, no ongoing fees & flexible options.
P&N Bank is your local way home.
Owner occupied
40% min deposit
Redraw facility
5.49%
Variable
5.52%
$2,836
Principal & Interest
The search that could save you $$ starts with BCU Bank.
Competitive rates. No ongoing fees. Flexible options.
Speak to a local BCU Bank lender today.
Owner occupied
40% min deposit
Redraw facility
5.49%
Variable
5.40%
$2,836
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
5.49%
Variable
5.50%
$2,836
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
5.49%
Variable
5.53%
$2,836
Principal & Interest
Owner occupied
40% min deposit
Redraw facility
5.54%
Variable
5.55%
$2,852
Principal & Interest
Owner occupied
10% min deposit
Redraw facility
5.54%
Variable
5.57%
$2,852
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
5.54%
Variable
5.58%
$2,852
Principal & Interest
Owner occupied
10% min deposit
Redraw facility
4.99%
3 year fixed
5.75%
$2,681
Principal & Interest
Owner occupied
5% min deposit
Redraw facility
5.49%
Variable
5.85%
$2,836
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
4.99%
2 year fixed
5.86%
$2,681
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
5.30%
2 year fixed
5.38%
$2,777
Principal & Interest
Owner occupied
5% min deposit
Redraw facility
5.39%
Variable
5.46%
$2,805
Principal & Interest
Owner occupied
40% min deposit
Redraw facility
5.29%
2 year fixed
5.50%
$2,773
Principal & Interest
Owner occupied
10% min deposit
Redraw facility
5.49%
Variable
5.52%
$2,836
Principal & Interest
Owner occupied
40% min deposit
Redraw facility
5.49%
Variable
5.55%
$2,836
Principal & Interest
Owner occupied
40% min deposit
Redraw facility
5.54%
Variable
5.59%
$2,852
Principal & Interest
Owner occupied
40% min deposit
Redraw facility
5.64%
Variable
5.76%
$2,883
Principal & Interest
Owner occupied
20% min deposit
Redraw facility
5.49%
Variable
5.85%
$2,836
Principal & Interest
Owner occupied
30% min deposit
Redraw facility
5.19%
3 year fixed
5.54%
$2,742
Principal & Interest
Owner occupied
30% min deposit
5.19%
2 year fixed
5.58%
$2,742
Principal & Interest
Owner occupied
30% min deposit
5.29%
2 year fixed
5.64%
$2,773
Principal & Interest
Owner occupied
20% min deposit
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Canstar Star Rating
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^ p.a. (Low-High) , then Provider Name (Alphabetical) . Additional filters may have been applied, which impact the results displayed in the table - filters can be applied or removed at any time.
Interest rate p.a.
Comparison rate^ p.a.
Monthly repayment
Variable
Principal & Interest
IMB Bank Budget Home Loan
Enjoy up to $4,000 cashback when you switch your eligible home loan to IMB Bank. Terms and Conditions Apply
Low Rate Home Loan
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Home Loans
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.
Compare home loan interest rates from 80+ lenders
Better deals are found when you compare
Canstar helps millions of Australians each year compare and find better deals
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
Sally Tindall’s guide to comparing home loans
Home loan tips from our experts
Your rate is important
Rate isn’t the only factor to consider when selecting a home loan, but for many, it’s a critical one. Not only will a low rate give you bragging rights at your next BBQ, it will also see you pay less interest to your bank – money you can reinvest back into your loan to help you pay it off sooner.
If you’re on a variable rate, know that it’s negotiable. Check your rate against the competition at least twice a year and if it doesn’t stack up, call your bank and ask for a rate cut.
Offset accounts don’t have to be more expensive
Offset accounts can be a great way to reduce your daily interest bill, however, they sometimes come with higher rates. This doesn’t have to be the case. Plenty of lenders now offer the same rate regardless of whether you have this feature, which means you can have your cake and eat it too.
Loyalty doesn’t often pay
Banks can and do cut rates outside of the RBA, however, these discounts are often reserved for new customers, not existing ones. If you haven’t switched lenders in the last couple of years, now’s the time to check whether your loyalty is being taken for a ride.
A quick calculation on how much you could save, even after paying switch fees, is likely to be enough to spur you into action.
Sally Tindall, Canstar Director of Data Insights
One of Australia’s leading financial and political commentators, Sally Tindall serves as Canstar’s official spokesperson and Director of Data Insights. An advocate for national financial literacy, Sally regularly provides industry commentary and consumer insights within the banking, insurance, energy, and broader financial services industries, empowering Australians to make financially sound choices.
Sally has been a celebrated critic of the Australian housing market landscape for decades. Her straight-talking, industry insights seek to support home owners to make informed decisions when navigating the property ladder and when choosing a home loan. Her expert insights are frequently sought by leading Australian media outlets including The Australian, Herald Sun, Sydney Morning Herald, Brisbane Times, The Australian Financial Review, Canberra Times, ABC, Domain.com.au, realestate.com.au, 9news, and Yahoo! Finance. Sally’s extensive career includes working across all levels of Australian government, notably for the Hon. Julia Gillard, where she contributed to Federal Budgets focused on easing living costs and led communications at multinational finance forums like the G20 and APEC. Follow Sally on LinkedIn.
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Alasdair Duncan3 July
Home Loan Calculators
Compare Home Loan Interest Rates
Canstar assesses over 3,000 mortgage interest rates 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
Nina Rinella, Editor-in-Chief
As Canstar’s Editor-in-Chief, Nina heads up a team of talented journalists committed to helping empower consumers to take greater control of their finances. Previously Nina founded her own agency where she provided content and communications support to clients around Australia for eight years. She also spent four years as the PR Manager for American Express Australia, and has worked at a Brisbane communications agency where she supported dozens of clients, including Sunsuper and Suncorp.
Nina has ghostwritten dozens of opinion pieces for publications including The Australian and has been interviewed on finance topics by the Herald Sun and the Sydney Morning Herald. When she’s not dreaming up ways to put a fresh spin on finance, she’s taking her own advice by trying to pay her house off as quickly as possible and raising two money-savvy kids.
Nina has a Bachelor of Journalism and a Bachelor of Arts with a double major in English Literature from the University of Queensland. She’s also an experienced presenter, and has hosted numerous events and YouTube series.
Josh Sale, Home Loans Ratings Manager
As Canstar’s Group Manager, Research, Ratings & Product Data, 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 X and Facebook.
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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.
