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Our home loans

Home Loan Interest Rate Comparison Rate Monthly Repayment Product Features Details

Variable Home Loan

6.04 %   p.a. 6.06 %   p.a. $3,011
  • Discounted home loan rate
  • Offset sub-account available for +0.10%^
  • 10% deposit minimum
Do I Qualify?

Green Home Loan

5.99 %   p.a. 6.51 %   p.a. $2,995
  • Discounted green home loan rate
  • Offset sub-account available for +0.10%^
  • 10% deposit minimum
Do I Qualify?

Solar Home Loan

5.99 %   p.a. 6.51 %   p.a. $2,995
  • Discounted solar home loan rate
  • Offset sub-account available for +0.10%^
  • 10% deposit minimum
Do I Qualify?

ZIP Home Loan

6.44 %   p.a. 6.46 %   p.a. $3,141
  • $5,000 interest free Visa debit card
  • Unlimited free redraw
  • 20% deposit minimum
Do I Qualify?
#Based on the dollar value represented in the search fields with P&I repayments and a 30 year loan term.
2024 WeMoney - Best Value for Refinance 2023 WeMoney - Best for Value (Variable) 2024 Mozo - Expert's Choice for Best Green Home Loan Gold Award - Best Green Home Loan 2022 WeMoney - Outstanding Customer Service
Our home loan products are recognised & awarded by the Australian financial industry

Want to buy your home at an auction?

Buying a property at an auction can be daunting. Research shows nearly two thirds of Australians don’t feel confident at bidding, so we’re here to help.

Before auction day, it’s important to:

  • Inspect the property
  • Research the local market
  • Get a property valuation
  • Arrange your finance
  • Get a copy of the sales contract and seek legal advice
  • Title searches & building and pest inspections
  • Confirm with the agent the deposit required on the day.

Before you go to an auction, decide what your maximum purchase price is so you don’t get carried away in the heat of a bidding war.

At loans.com.au, we’re here to help you with the finance so you can go to your auction ready to make an offer with no hassle. We offer Auction Approval, where your lending specialist will review your income and expenses with you to determine what you can realistically afford to repay, and what you can afford to bid for the home..

When you’re ready to make an offer, we’re here to help.

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As a loans.com.au customer, if you refer a new customer to us we’ll reward you.

$1,000 New Home Loan Customer
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Why choose loans.com.au to help you get auction ready?

Low interest rates

Being an online lender with fewer overheads means we’re able to pass on the savings to our customers.

Australian based

Get help when you need it from our friendly team of Australian based, lending specialists.

Flexible options

Looking to save with an offset, or make extra repayments with a redraw? We have a full range of loan features to suit your situation.

Award winning

We keep on winning awards for our products, innovations and customer service, year after year!

Common home loan questions

1. Inspect the property and do your research.
This is imperative before going into an auction so you'll get a realistic understanding of the value of the property.

2. Check the building and pest report.
Some agents prepare this prior to an auction, and if they haven't, ask them for one.

3. Arrange your finances.
Ask your lender how much you can borrow. Get your loan pre-approved, and make sure that you have enough in your bank account to write your deposit cheque.

4.Ask for legal advice.
Have your solicitor review the contract of sale in case you're the successful bidder.

Unlike many other lenders, we charge no monthly, annual or ongoing fees. The only fees you will pay on your home loan are a one-off $300 settlement fee plus a security assessment fee, which for a standard property in a metropolitan area in a major city starts at $230 for properties valued up to $1 million.

You have the option to add a 100% offset sub-account to your loan. Many people choose to do this to help pay their home loan faster and save thousands on interest payments. For an extra 0.10% to the loan, you can add a 100% offset sub-account with online, ATM, EFTPOS & Visa debit card access to your money, plus unlimited free redraws. More information on adding an offset here.

A property report is helpful if you're looking to purchase a new property, know the address and want to determine if it's the right property for you, or potentially in a high growth area. It is a good idea to get a property report to do your research on the property before you make an offer.

Our property reports provide information such as Estimated property value, Property mapping, Properties sold in the area, Market comparison, Median sale prices in the area and Suburb insights.

The auction is led by an auctioneer, and you'll need to register with the auctioneer. They'll give you a bidder's number, and they will manage the bidding process.

The seller of the house usually has a reserve price which is the minimum price that they will sell the property for at auction. If the reserve price of the property has been reached, it is considered to be "on the market" and will be sold to the highest bidder. If the reserve is not reached, then the property is "passed in" or "withdrawn from auction" and the highest bidder has the right to negotiate with the seller.

After the bidding, the successful bidder is required to pay an immediate deposit, which is typically 5% to 10% of the purchase price. The sale is settled once the contract has been signed by both the buyer and the seller, and all relevant payments have been made.

We can provide approval for applicants in as little as 2-3 days, pending the customer's individual circumstances and all correct documentation has been provided. It's important to note that this is not a 'one size fits all' number, and the approval time will depend on each individual applicant's circumstances.

We'd always advise our customers to have the right documentation ready at application stage, so you can move forward with your application as quickly as possible. For more information for documents required for a purchase or build:
What documents do I need to buy or build a home in Australia?

At auction, if you're the highest bidder, you must sign the contract, and there's no cooling-off period. If you can't settle the agreed price of the home by the settlement date, you'll lose your deposit and be in breach of the contract.

There can be very serious legal consequences if you cannot settle the sale. We recommend you do either of the following before you bid at an auction:

  • Got your finance pre-approved, including the maximum amount you can borrow. You can get a quick Auction Approval here.
  • Ensured you have enough money available to pay the deposit using the method specified by the seller's agent (this is usually 10%).

Simply fill out your application online by entering some of your details here.

Alternatively, chat to one of our friendly lending specialists on 1300 471 806 and they can complete your application for you.

After your application is complete, use our app onTrack on your desktop or device to add your documents such as payslips, and details of your existing loan. In the onTrack app, you can track the progress of your application. For more information for documents required for a home purchase or build:
What documents do I need to buy or build a home in Australia?

You can get your dream home at a great low home loan rate because of our online model. We don't have to pay for branches or broker commissions, which means we are able to pass our savings directly on to you through low home loan rates and and no ongoing, annual or monthly fees.

Home loan repayment calculator

Use our home loan calculator to estimate what your monthly mortgage repayments could be. Whether you're refinancing or just wanting to understand how much you can afford, all you have to do is enter how the amount you would like to borrow, interest rate, home loan term, payment frequency, and repayment type (either principal & interest or interest-only).

%
years
years
Estimated savings from repayments graph

Your estimated repayments are

$279.21
$50,000
$50,513

Calculator assumptions

Get started

Ready to buy your next home at an auction? Simply apply online or chat to a lending specialist and they can do the hard work for you. We make the process easy so you can settle sooner.

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Talk to a lending specialist

Book a call with one of our experienced lending specialists and they can complete your application for you.

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Ready to apply?

Call 13 10 90 or select “Apply Now” to begin your online Home Loan application.

Get free property & suburb insights

To help you find the perfect home, we'd like to give you a free loans.com.au Comparative Market Analysis (CMA) property report, a breakdown of information about the property you are considering, including previous sale prices.

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Estimated property value

An indication of how much the property is worth, based on factors including recent sale prices for comparable properties in the area.

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Property mapping

An aerial photo of the property and its immediate surrounds, plus maps of the street & the property in relation to points of interest and facilities.

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Properties sold in the area

You will be able to see details of recently-sold properties in the area including the date they were sold, land size, number of bedrooms, number of bathrooms and garage size.

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Market comparison

Detailed information about nearby properties currently listed for sale or recently sold, including their first and last advertised price and days on the market.

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Median sale prices in the area

The median sale price for homes in the area and how it has changed each month in recent years.

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Suburb insight

Information about the suburb's demographics, such as household occupancy, household income and household structure.

Useful Resources

Guide to buying a home at an auction

Most people have questions about the home buying process, so we’ve created this guide to make things easier for you to understand how it works, particularly at an auction, and how you can start saving sooner.

From information on how to apply for a loan to advice on pre-approval, you’ll find what you’re looking for in our guide. Plus, we’re available to help via Live Chat at most times of day. .

 
How it works - Home Loans - Purchase
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