Cheapest home loan

When you come to buy a home it is very important to get the cheapest home loan that is appropriate to your needs. In fact, it could be argued that finding the cheapest home loan is almost as important as getting the right home.

The reason is that small differences in the cost of your home loan can add up to more than $100,000 over the life of a typical 30-year loan. Imagine what you could do with $100,000!

The biggest mistake you can make is to assume that all lenders are basically the same and have similar rates.

The truth is that some lenders such as are much, much cheaper than others and especially cheaper than the big banks.

So get on the net, use comparison sites, and visit the websites of online lenders.

How to compare

When you are searching for the cheapest home loan, you need to make sure that you are comparing like with like.

Lenders vary their rates according to the duration of the loan, its size, whether you want a fixed or variable rate, and other factors such as whether you are an investor or an owner occupier, a buyer or a refinancer.

Comparison Rates

The key rate to compare is the comparison rate, not the headline interest rate. All lenders are required by law to display the comparison rate on their loans as a way to help consumers identify the true cost of the loan.

The comparison rate rolls in most of the fees and charges over the life of the loan into a single percentage figure.

This includes establishment fees, approval fees, and any upfront or ongoing fees.

Tools to compare

Compare our home loan rates and features to find the best home loan that is right for you.

If you want to see how our home loan rates compare to other lenders and how much you can save check out our comparison here. This comparison uses data sourced from Canstar Research.

Recommended reading

Australian home loan calculator

Our home loan calculator is the easiest and quickest way to help you get a better understanding of what your loan repayments will be.


Guide to variable, fixed and offset home loans

Variable, fixed and offset - understanding your home loan options is the first step to finding the best home loan for you.