Compare home loan interest rates from 5.24%

Compare hundreds of home loan rates from across the market, from online lenders to the Big Four banks. Find a home loan that suits your needs in a matter of minutes.

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Compare home loan rates for June 2023

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1 - 20 of 244
Name Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Principal & Interest20% min. depositOwner-occupierRefinancers only
Interest Rate
5.34%
Comparison Rate
5.25%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,793
Go to siteMore Info
Principal & Interest5% min. depositOwner-occupierOffset accountSpecial Offer
Interest Rate
5.34%
Comparison Rate
5.37%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,793
Go to siteMore Info
Principal & Interest20% min. depositInvestmentRefinancers only
Interest Rate
5.64%
Comparison Rate
5.55%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,887
Go to siteMore Info
Finder AwardPrincipal & Interest10% min. depositOwner-occupier
Interest Rate
5.49%
Comparison Rate
5.50%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,839
Go to siteMore Info
Principal & Interest40% min. depositOwner-occupier
Interest Rate
5.39%
Comparison Rate
5.42%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,808
Go to siteMore Info
Principal & Interest-10% min. depositOwner-occupierNSW, QLD & ACT only
Interest Rate
5.39%
Comparison Rate
5.40%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,808
Go to siteMore Info
$3,000+ cashback offer
Customers borrowing at least $250,000 can get between $3,000 and $4,000 in cashback (purchase and refinance). Terms and conditions apply
Principal & Interest20% min. depositOwner-occupier
Interest Rate
5.49%
Comparison Rate
5.52%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,839
Go to siteMore Info
Principal & Interest20% min. depositOwner-occupierOffset account
Interest Rate
5.49%
Comparison Rate
5.53%
Fees
Application: $595
Ongoing: $0 p.a.
Monthly Payment
$2,839
Go to siteMore Info
Get up to $3,000 refinance cashback when your LVR is 90% or lower ($2,000 cashback for loan amounts of $250K+ and above, $3,000 for $500K+). Other conditions apply.
Principal & Interest40% min. depositInvestment
Interest Rate
5.59%
Comparison Rate
5.62%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,871
Go to siteMore Info
Principal & Interest 2Y Fixed20% min. depositOwner-occupier
Interest Rate
5.24%
Comparison Rate
5.80%
Fees
Application: $449
Ongoing: $6 per month
Monthly Payment
$2,762
Go to siteMore Info
Up to $4,000 cashback offer
Eligible refinancers can get $2,000 cashback for loans $250k to $500k, or $4,000 for loans $500k+. Terms and conditions apply.
Principal & Interest20% min. depositInvestment
Interest Rate
5.69%
Comparison Rate
5.72%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,902
Go to siteMore Info
Principal & Interest 2Y Fixed5% min. depositOwner-occupierSpecial Offer
Interest Rate
5.50%
Comparison Rate
5.56%
Fees
Application: $500
Ongoing: $0 p.a.
Monthly Payment
$2,843
Go to siteMore Info
Principal & Interest20% min. depositOwner-occupierOffset account
Interest Rate
5.64%
Comparison Rate
5.99%
Fees
Application: $0
Ongoing: $395 p.a.
Monthly Payment
$2,887
Go to siteMore Info
Get up to $3,000 refinance cashback when your LVR is 90% or lower ($2,000 cashback for loan amounts of $250K+ and above, $3,000 for $500K+). Other conditions apply.
Principal & Interest 1Y Fixed10% min. depositOwner-occupier
Interest Rate
5.49%
Comparison Rate
5.50%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,839
Go to siteMore Info
Principal & Interest40% min. depositOwner-occupierOffset accountSpecial Offer
Interest Rate
5.24%
Comparison Rate
5.27%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,762
Go to siteMore Info
Principal & Interest20% min. depositOwner-occupier
Interest Rate
5.44%
Comparison Rate
5.45%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,824
Go to siteMore Info
Up to $4,000 cashback offer
Eligible refinancers can get $2,000 cashback for loans $250k to $500k, or $4,000 for loans $500k+. Terms and conditions apply.
Principal & Interest5% min. depositOwner-occupier
Interest Rate
6.24%
Comparison Rate
6.27%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$3,079
Go to siteMore Info
Principal & Interest20% min. depositInvestmentOffset account
Interest Rate
5.74%
Comparison Rate
5.78%
Fees
Application: $595
Ongoing: $0 p.a.
Monthly Payment
$2,918
Go to siteMore Info
Get up to $3,000 refinance cashback when your LVR is 90% or lower ($2,000 cashback for loan amounts of $250K+ and above, $3,000 for $500K+). Other conditions apply.
Principal & Interest20% min. depositOwner-occupier
Interest Rate
5.69%
Comparison Rate
6.02%
Fees
Application: $0
Ongoing: $0 per month
Monthly Payment
$2,902
More Info
Principal & Interest30% min. depositOwner-occupier
Interest Rate
5.59%
Comparison Rate
5.60%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$2,871
More Info
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Showing 20 of 244 results

How do I compare home loan interest rates?

A good home loan comparison starts with a careful look at interest rates. The lower the rate, the lower your repayments will be. It's as simple as that.

Here's the difference in repayments between a 4.75% and a 5.00% interest rate (on otherwise identical loans with 20% deposits and principal-and-interest repayments).

Interest rate5.00%4.75%
Loan amount$500,000$500,000
Loan term30 years30 years
Monthly repayments$2,685$2,609
Savings (monthly)N/A$76 cheaper
Savings (yearly)N/A$912 cheaper
Savings (life of loan)N/A$27,360 cheaper

Over 30 years, that little 0.25% difference in the interest rate could save a borrower an enormous $27,360 in interest charges.

Check out Finder's lowest monthly mortgage rate tracker

Home loan comparison is hard if you have no clue what a low rate looks like. That's why we analyse all the loans in our database to find the most competitive rates each month.

The graph below shows the market's lowest* fixed and variable rates for home buyers and investors.

*Rates must have LVRs of 80% or higher and exclude unique or unusual loan products that aren't suitable for most borrowers.

Learn more about finding a cheap home loan

Finder's top home loan rate picks for June 2023

Check out this month's top home loan picks for refinancers, first home buyers and investors.

How we picked these loans

Finder's top home loan picks are chosen from our commercial partners and not the entire home loan market. Based on your personal circumstances there may be better loans for you than the ones we've highlighted here. Always compare your options before you apply.

Check out our monthly best home loans guide to learn more about our methodology.

Your interest rate update: May 2023

On 02 May the official cash rate increased to:

3.85%

The lowest owner-occupier loan in Finder's database is:

5.24%

Assuming the average owner occupier home loan size of $586,366 you would be making monthly repayments of:

$3,145

RBA returns to rate hikes

After a month's pause, the Reserve Bank of Australia (RBA) has increased the cash rate again. While this isn't anything new to borrowers, the return of a rate rise is likely to be frustrating news.

The latest inflation figures show a 7% annual increase, which means inflation is finally heading in the right direction. It's a fall from the last quarterly update and the RBA needs the rate to head back towards the 2-3% target range.

Some economists predicted that with inflation falling the RBA might take the opportunity to pause again and assess the impact the past rate rises would continue to have.

It's expected that banks and lenders will begin passing on the interest rate increase to borrowers. If you had a rate of 2.00% in April 2022, you'd now be looking at a rate of about 5.75%.

On the average home loan amount of $586,366 that's a monthly repayment increase of around $1,255.

Rebecca Pike

Rebecca Pike is Finder's senior writer for money. She joined Finder after almost four years writing about mortgage and finance, including three years as editor of Mortgage Professional Australia.

How do I compare mortgage fees and features?

Looking beyond the interest rate, you need to compare home loan fees and features too.

dollar iconCompare the fees

Examples of home loan fees include the following:

  • Application fees. This one-off fee can run as high as $600.
  • Ongoing fees. Some loans come with a monthly or annual fee, usually worth around $120 a year or $10 a month. Package loans have an annual fee of up to $500.
  • Valuation fees. This covers your lender's cost to have your property professionally valued. It can cost several hundred dollars.
  • Discharge fees. A discharge fee is only charged when you end a home loan, either by refinancing or paying off the loan.

Gift card iconConsider the features

The following are the most common and useful home loan features:

  • Offset account. A 100% offset account is a bank account that is attached to your home loan. The bank account lets you save and spend money like a normal bank account, but any dollar saved in the account offsets your loan amount, meaning you are charged less interest. An offset is not available with every loan, such as fixed rate and basic loans.
  • Extra repayments. If your loan allows you to make extra repayments, you can pay it off faster. This will save you in interest charges. These days, most variable rate loans allow extra repayments, although some fixed rate loans don't.
  • Redraw facility. A redraw facility is common on home loans that allow extra repayments. A redraw allows you to withdraw extra repayments from your loan and spend them if you need to. Some lenders charge a redraw fee or restrict how much money you can access.
  • Split facility. Some loans allow you to split your mortgage into both fixed and variable portions. This lets you create a flexible loan that offers the best of both a fixed and variable rate.

Reward point iconLook at a loan's comparison rate

The comparison rate is designed to help borrowers understand the true cost of a loan by adding in fee costs over time. But it's only a hypothetical calculation based on a specific loan amount and term. It's not that useful because every borrower's situation is unique.

You're better off working out how much your loan will cost you every month and factoring in the cost of fees on top of that.

A note about loan-to-value ratio (LVR)

The loan-to-value ratio (LVR) is another way of defining the minimum deposit you have to save. Most loans have a maximum LVR of 80%, meaning you need a 20% deposit. Many loans also have a maximum insured LVR of up to 95%. This means that you can get the loan with a smaller deposit, but you will need to pay lenders mortgage insurance (LMI) if your deposit is under 20%.

Why you can trust Finder's home loan experts

free
We're free
You won't pay any more by taking out a home loan with us. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare loans.
expert advice
We're experts
We've researched and rated dozens of home loans as part of our Finder Awards. We provide unique insights and our in-house experts regularly appear on Sunrise, 7News and SBS News.
independent
We're independent
Unlike other comparison sites, we're not owned by a third party. That means our opinions are our own and we work with lots of home loan lenders, making it easier for you to find a good deal.
help
We're here to help
Since 2014, we've helped 150,000+ people find a home loan by explaining the nitty gritty details simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.

Home loan comparison tips from the experts

We spoke to some industry experts for more inside tips on getting a good home loan.

Picture not described

Susan Mitchell, CEO - Broker at REA Group, and former CEO of Mortgage Choice

Common mistakes first home buyers make

"There is a common misconception that going straight to the lender you bank with is going to get you the best outcome when in reality, borrowers are doing themselves a disservice by not comparing options from a range of lenders to find the best deal for their goals and needs.

"Not getting home loan pre-approval is another mistake many borrowers make. This is especially the case if you are applying for your first home loan. A home loan pre-approval is useful when buying your first home as it helps you understand what property you can afford to buy before you start shopping around."

Prepare your finances before approaching a lender or broker

"Lenders will assess how 'risky' you are to lend money to, so it's important that you show them that you have good money habits. Don't spend more than you earn, cut back on discretionary spending 3-6 months before you apply for a home loan and make sure you've established a savings history so you can demonstrate that you are responsible with your money and can make your home loan repayments each month."

Photograph of mortgage broker Josh Bartlett.Josh Bartlett, mortgage broker and managing director, Mortgage Advice Bureau.

Know your money personality

"It comes down to money personality. If a couple have very different money personalities, say a husband and wife where one is very good with their money and the other likes to spend, you could structure the loan so they're both happy with how that money is going to be used.

"I'd suggest a loan with a multi offset account, allowing the couple to have their own accounts so they can control their spending in ways they feel comfortable with. As long as everything's going fine, they'll still be married in the next 5 years."

Fixed or variable

"Again, it comes down to the individual. Are you okay if your rate falls up or down? Right now, are rates going to go up? We don't have a crystal ball.

"You only ever fix it if it makes you feel more comfortable. It's not about beating the banks."

More home loan comparison questions answered

More helpful home loan guides

The latest loans and property news

“More needs to be done”: RBA hikes cash rate again, but when will it end?

“More needs to be done”: RBA hikes cash rate again, but when will it end?

The cash rate now sits at 4.10% after the Reserve Bank announced another rate rise.

Read more…
RBA lifts interest rates yet again: How much will this one cost you?

RBA lifts interest rates yet again: How much will this one cost you?

The official cash rate target is now at a decade-long high of 3.85% - an extra $90 a month, or $1,080 a year, on an average $586k loan.

Read more…
Why your rent is rising so fast (and 4 things you can do about it)

Why your rent is rising so fast (and 4 things you can do about it)

Rising living costs and a shortage of rental properties is driving rents upward.

Read more…

The products compared on this page are chosen from a range of offers available to us and are not representative of all the products available in the market. There is no perfect order or perfect ranking system for the products we list on our website, so we provide you with the functionality to self-select, re-order and compare products. The initial display order is influenced by a range of factors including conversion rates, product costs and commercial arrangements, so please don't interpret the listing order as an endorsement or recommendation from us. We're happy to provide you with the tools you need to make better decisions, but we'd like you to make your own decisions and compare and assess products based on your own preferences, circumstances and needs.


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10 Responses

    Default Gravatar
    SusanMarch 13, 2023

    I have a current mortgage with Bendigo Bank on fixed interest rate of 2.090% which expires in July.
    I want to know my options when it expires.
    Small mortgage which is due to be paid off in 2029.
    None of your options seem to include this issue.
    Can I speak with someone?

      Avatarfinder Customer Care
      SarahMarch 13, 2023Staff

      Hi Susan,

      You have a couple of options. You could:
      – Stick with Bendigo Bank and either roll over onto a variable rate loan option in July, or choose another fixed rate home loan.
      – Refinance to a different bank, and choose either a fixed or variable rate.

      Your eligibility to refinance depends on a number of things, including your age, income and loan amount. As a first step, it might be worth contacting your bank so they can let you know what their current rates and offers are, so you have an idea of what your repayments will be from July onwards. You can then compare this to other options in the mortgage market to see if you can get a better deal elsewhere.

      Hope this helps!

    Default Gravatar
    ChrisApril 21, 2022

    Useless tool – no way to select weekly payments.

      Avatarfinder Customer Care
      SarahMay 2, 2022Staff

      Hi Chris,

      We appreciate your feedback.

      Our tables contain quite a bit of information in them. In the interests of brevity, we currently allow you to compare home loans by monthly payments. If you’d like to know the estimated weekly payments, you can divide these estimates by 4.3. For instance, if the monthly estimate was $3,000, once you divide it by 4.3, the weekly amount would be $697.67.

      Hope this helps, and thanks again for the feedback – we’ll explore whether this functionality can be added.

      Many thanks
      Sarah

    Default Gravatar
    MichaelDecember 18, 2021

    I’d like speak to someone about refinancing a please?

      Avatarfinder Customer Care
      RichardDecember 22, 2021Staff

      Hi Michael,

      If you already have a preferred lender, you can visit their website to submit an application and/or request to speak with their home finance representative.

      Alternatively, you can speak with a professional mortgage broker to get personalised advice. You can call one of the mortgage brokers found on our page to schedule an appointment or search for a mortgage broker in your area on Google.

      I hope this helps!
      Richard

    Default Gravatar
    JDMAugust 12, 2019

    I am an Australian citizen returning to Australia after several years abroad. I will be entering into employment with the Australian branch of my existing employer with a new employment contract (but without a probation period). Can you advise limits to home loan borrowing upon arrival. e.g. is their a qualifying period for work/residence in Australia for lenders?

      Default Gravatar
      NikkiAugust 13, 2019

      Hi JDM,

      Thanks for your question!

      All Australian citizens are eligible to apply for a home loan. This is one of the basic requirements. Others include age, income, and other unique requirements of the lender.

      As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.

      A mortgage broker is the best person to reach out to see your options for home loans. They can give you a multitude of options according to your situation. In the meantime, to give you an estimate of your monthly repayments, you can use our home loan eligibility calculator.

      Hope this helped. Feel free to reach back out for further assistance.

      Cheers,
      Nikki

    Default Gravatar
    ManiAugust 16, 2018

    What are the options for Self employed with one year financials?

      Avatarfinder Customer Care
      JhezelynAugust 16, 2018Staff

      Hello Mani,

      Thank you for your comment.

      If you’re self-employed and is interested in a home loan, you can check low documentation (low-doc) loan which is designed to cater to applicants who are working for themselves. Please note that different lenders have different application requirements, so it’s best to check your eligibility and ensure meeting the requirements before submitting an application.

      You may check our low doc home loan guide and see the tips on how to compare such loans. After comparing the products in our panel, you can click the “Go to site” button or the “Enquire now” button and discuss with the lender your eligibility.

      It’ll be best to seek advise from a mortgage broker and discuss options based on your needs.

      Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.

      Regards,
      Jhezelyn

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