Home Compare Home Loans Rates updated 26 August 2026 - Looking for a low-rate home loan? Savings.com.au compares 5,200+ home loans from 100+ lenders, including some of Australia's best lenders. One of the lowest home loan rates in our database is currently 5.70% p.a. (comparison rate* 6.06% p.a. ) from South West Slopes Credit Union Ltd with its Intro Discounted Standard Variable . Do you like & trust our expert, human-written content? Simply click this button to tell Google you want to see more of us in your Google Search Results, AI Overviews and AI Mode answers. Principal & Interest 10% Min Deposit Extra Repayments Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Dedicated loan specialist throughout the loan application. Built and funded by CommBank Principal & Interest 20% Min Deposit No application or ongoing fees. Annual rate discount Unlimited redraws & additional repayments. LVR <80% A low-rate variable home loan from a 100% online lender. Backed by the Commonwealth Bank. Principal & Interest 40% Min Deposit Competitive rates to help you save A Dedicated Relationship Manager Certainty of repayments with a fixed rate term Principal & Interest 20% Min Deposit $3000 Cashback T&Cs apply Principal & Interest 40% Min Deposit Principal & Interest Principal & Interest 40% Min Deposit Principal & Interest 40% Min Deposit Extra Repayments Principal & Interest Principal & Interest 10% Min Deposit Extra Repayments Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Dedicated loan specialist throughout the loan application. Principal & Interest 10% Min Deposit Extra Repayments Principal & Interest Principal & Interest Principal & Interest Extra Repayments Principal & Interest Extra Repayments Principal & Interest Extra Repayments Principal & Interest Extra Repayments Available for purchase or refinance, min 10% deposit needed to qualify. No application, ongoing monthly or annual fees. Dedicated loan specialist throughout the loan application. Monthly repayments: $ 2,978 Did you find this page useful? Leave us your feedback We’d love to hear what you found helpful about Savings.com.au Stop guessing. Start saving . Your home loan comparison sorted. We hunt the best home loans – you claim the savings. Whether you’re buying, refinancing or investing, easily compare home loan rates, fees and features. We track the home loan market – so you don’t have to. 5,200+ home loan products from 100+ lenders updated daily. From offset accounts to low-deposit loans - we’ve got you covered. Your lender’s not gonna tell you about a better deal – but we will. Monthly low-rate home loan deals, rate change alerts and cashback offers, handpicked by our experts. Get a better home loan deal Compare thousands of home loans rates and features from 100+ leading Australian lenders. August Home Loan Rates & Deals One of the lowest home loan rates in our database is currently 5.70% p.a. (comparison rate 6.06% p.a.* ) from South West Slopes Credit Union Ltd with its Intro Discounted Standard Variable . In the cashback space, imb Bank is offering a cashback deal of $2,000 for loans between $250,000 and $499,999; $3,000 for loans between $500,000 and $749,999; and $4,000 for loans of $750,000 and above. Which lenders are offering some of the lowest rates on Savings.com.au? Home Loan Market Update After three RBA rate hikes in a row - unwinding all of last year's rate cuts - 2026 has been a tough year for Aussie mortgage-holders. The RBA chose to hold the cash rate in June and some economists - such as those at CommBank and ANZ - don't expect any more hikes this year, if at all this cycle. The average home loan rate for owner occupiers on the market is now around 6.25% p.a. but as you can see from the table above, there are plenty of lenders offering rates substantially lower than this. Fixed rates might seem pretty tempting considering some economists expect further hikes this year but, bear in mind, fixed rates are typically set based on future expectations of rate movements, so such hikes may already be priced in. Although, the surety of a fixed rate might provide a bit of comfort to you in these uncertain times! Until next month 🫡 Dominic Beattie - Editor For more information on how we’ve selected these products, the products we compare, how we make money, and other important information about our service, please click here . Rates correct as of 26 August 2026. View disclaimer Home loan lenders we've reviewed Want to learn more about a home lender? Explore our in-depth feature pieces including commentary, brand profiles and latest home loan products & rates. Are low home loan rates important? Having a lower interest rate on your home loan is important given interest is the biggest source of a home loan's costs, with the typical borrower paying hundreds of thousands in interest over the life of a loan. So naturally, a loan with a lower interest rate can save you a lot of money. Allow us to demonstrate. How much can you save with lower rate? The table below shows the difference in monthly repayments for various loan amounts, plus the total interest cost savings over the life of the loan (assuming a 30-year loan term). Calculations made via Savings.com.au's Home Loan Comparison Calculator . What affects your home loan rate? Whether you're on a fixed or variable rate: If interest rates are expected to go down in the coming months, fixed rates tend to be lower than variable rates, since on one would fix knowing they could instead borrow at a rate that's likely to be reduced. When rates are expected to go up, fixed rates are generally higher than variable. Loan to Value Ratio: High LVR loans generally have higher interest rates to compensate the lender for the perceived added risk. RBA cash rate: The Reserve Bank of Australia sets the rate banks charge when lending to one another. Variable home loan rates generally fluctuate directly in line with the cash rate while fixed rates tend to change based on the direction markets expect the cash rate to head in the near future. Fees: Some products have low rates but charge high fees. This is one of the reasons why it's so important to check the comparison rate as well as the advertised rate when comparing home loans. How to find the cheapest or best home loan interest rate for you Securing the lowest interest rate on a home loan is easier said than done, with the lowest rates typically reserved for borrowers with strong credit ratings and loan-to-value ratios (LVRs) of 60% or less. You may also find the loans with the lowest interest rates don't particularly suit your needs or have the features and level of customer support that you're after. For instance, the lowest-rate loan on the market might be a fixed-rate loan with limited features offered by a small regional bank. However, you might instead be after a variable-rate loan with an offset account from an online lender boasting the latest fintech tools (e.g. mobile apps, speedy loan application software). Look for a low comparison rate A home loan comparison rate is a rate lenders are legally required to display alongside advertised interest rates on home loans to give borrowers a truer reflection of a loan's cost - taking things like fees and revert rates into account. They essentially make home loans easier to compare (hence the name). So seek out loans with low comparison rates because they're more likely to have a low interest rate and low fees. Latest Mortgage News Westpac mortgage applications plunge 20% post budget HSBC closing retail banking in Australia Macquarie drops variable home loan rates

Home Loan Calculators What is a home loan and how does it work? A home loan is a sum of money that's borrowed from a lender to finance the purchase of a home or investment property . The borrower repays this debt with interest in regular instalments over an agreed term, typically 25-30 years. To provide the lender with security, the property is held by the lender as collateral until the loan is paid off - an arrangement known as a mortgage. What is the principal amount? The principal amount is the amount you borrow from the lender, and pay back over time - plus interest. Your repayments typically include both principal and interest payments (unless it's an interest-only loan ). How do I pay off my mortgage faster? Make more frequent weekly or fortnightly repayments Make extra repayments Consider refinancing your home loan to a lower interest rate Consider an offset account Pay off the principal What is equity? Equity in a home is the difference between the value of your home and how much you owe on the mortgage. For example, if your property is worth $500,000 and you still owe $300,000, your equity is $200,000. Our equity calculator can help you work out how much equity you have in your property. What is the home loan process? The home loan application process can be quite lengthy but isn't too complicated. It will generally involve the following steps: Save for a deposit Find your perfect home or getting pre-approval first Gather your required documents Compare home loan providers A preliminary assessment by the lender Submit your application to the lender The lender completes a property valuation The lender approves or rejects the loan The lender sends you an offer The loan is settled and the funds are advanced to you. Read our home buying checklist for a complete breakdown of everything you need to know. Should I fix my home loan? Fixing your home loan can be good for those who need cash flow certainty, which is why many investors and first-time buyers choose them. If interest rates are very low, locking in that low rate before they rise can be a good idea. However, that can also backfire if interest rates drop even further, as those changes only apply to variable home loans, not fixed home loans . It can also be harder to repay a fixed loan early as you will have to pay significant break costs for terminating the fixed-rate period. How do you refinance a home loan? If your current lender can't offer you what you need anymore, it may be time to refinance your home loan. Shop around and compare new home loans, calculate the costs of switching and consider the length of the new loan. Once you’ve found the ideal loan, apply through the lender and exit your old home loan. What is a comparison rate? A comparison rate helps you work out the true cost of a loan by combining the interest rate plus a number of fees and charges you can expect to pay over the life of the loan into a single percentage figure. If there is a big difference between the advertised rate and the comparison rate on a product, it probably means there are significant establishment or account-keeping fees. How much can I borrow for a home loan? How much you can borrow for a home loan will depend on many factors such as your income, your savings history, your monthly living expenses, and any outstanding debt you may have. However, it is generally recommended that you borrow no more than 80% of the value of the property, meaning you must have at least a 20% deposit saved. Use our calculator to work out how much you can borrow. What is a redraw facility? A redraw facility is a home loan feature that allows borrowers to withdraw extra repayments they have made on their home loan. Redraw facilities are useful if you want to reduce your loan amount as quickly as possible, while being able to access those funds at some point in the future should a financial emergency or other situation arises where you may need that money (like a renovation). What is an offset account? An offset account is a transaction account linked to your home loan where the money stored in the account is ‘offset’ against your home loan debt when interest is calculated, reducing the amount of interest charged on your loan. What are the requirements for a home loan? To be eligible for a home loan, you must have: A deposit (at least 5%) A good credit history A stable income A regular savings history No significant debts At least two forms of identification, one of which must be photo ID Bank statements and payslips Council rates for any other properties you own For other relevant documents, see the Home Loan's 101 How much deposit is required for a home loan? The amount needed for a house deposit varies, but you'll usually need at least 5% of the property's value, which is an LVR (loan-to-value ratio) of 95%. To avoid paying Lenders Mortgage Insurance (LMI) most lenders will require you to provide a deposit of 20% of the property's value . How long does home loan approval take? The time it takes for a lender to approve your home loan can differ from lender to lender, but it generally takes anywhere between four to six weeks. You can speed up your home loan approval by ensuring you meet all the borrowing criteria, have all your paperwork ready and correctly fill out the application form, have a good savings and credit history, and get pre-approval . Home Loan Guides Banks, credit unions, and non-bank lenders: What’s the difference? From huge multinational banks like the Commonwealth Bank to local customer-owned credit unions, all kinds of financial institutions operate in Australia. Here’s what to know. Home loan cashback offers and deals August 2026 What are the biggest banks in Australia? What does a conveyancer do and do you need one? What does stamp duty cost in each state of Australia? Should you fix your home loan interest rate? How to save up for a house deposit Compare home loan options Editorial Promise Savings.com.au follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts who ensure everything we publish is objective, accurate and trustworthy. Dominic Beattie is the Editor of Savings.com.au, Group Editor for the wider InfoChoice Group, and host of The Savings Tip Jar podcast alongside Brooke Cooper. Dominic has more than a decade's experience in the finance media sector, joining Savings.com.au in 2018 to spearhead its launch as a financial comparison service and dedicated source of consumer finance news and guides. Finance Journalist Bernadette is a journalist with years of experience covering topics in macroeconomics, real estate, and lifestyle beats for notable print media organisations. She joined the InfoChoice Group in 2024, bringing her passion for writing stories that help Australians make better decisions about money. Important information Savings.com.au provides general information and comparison services to help you make informed financial decisions. We do not cover every product or provider in the market. Our service is free to you because we receive compensation from product providers for sponsored placements, advertisements, and referrals. Importantly, these commercial relationships do not influence our editorial integrity. For more detailed information, please refer to our How We Get Paid , Managing Conflicts of Interest , and Editorial Guidelines pages. Editorial Integrity At Savings.com.au, we are passionate about helping Australians make informed financial decisions. Our dedicated editorial team works tirelessly to provide you with accurate, relevant, and unbiased information. We pride ourselves on maintaining a strict separation between our editorial and commercial teams, ensuring that the content you read is based purely on merit and not influenced by commercial interests. Learn more about our commitment to editorial integrity in our Editorial Guidelines . Advertiser Disclosure Our service is free for you, thanks to support from our partners through sponsored placements, ads, and referrals. We earn compensation by promoting products, referring you, or when you click on a product link. You might also see ads in emails, sponsored content, or directly on our site. For more details, see How We Get Paid . Product Coverage and Sort Order We strive to cover a broad range of products, providers, and services; however, we do not cover the entire market. Products in our comparison tables are sorted based on various factors, including product features, interest rates, fees, popularity, and commercial arrangements. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. Additionally, certain products may present forms designed to refer you to associated companies (e.g. our mortgage broker partner) who may be able to assist you with products from the brand you selected. We may receive a fee for this referral. You can customise your search using our sorting and filtering tools to prioritise what matters most to you, although we do not compare all features and some results associated with commercial arrangements may still appear. For more details, visit How We Get Paid and Managing Conflicts of Interest . Comparison Rate Warning and Base Criteria For home loans, the base criteria include a $500,000 loan amount over 30 years. For car loans, the base criteria include a $30,000 loan over 5 years. For personal loans, the base criteria include a $20,000 loan over 5 years. These rates are only examples and may not include all fees and charges. *For home loans, the comparison rate is based on a $150,000 loan over 25 years. *For car and personal loans, the comparison rate is based on a $30,000 loan over 5 years. Warning: these comparison rates are true only for the examples shown and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Monthly Repayment Figures Monthly repayment figures are estimates that exclude fees. These estimates are based on the advertised rates for the specified term and loan amount. Actual repayments will depend on your circumstances and interest rate changes. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. Savings.com.au is proudly part of the InfoChoice Group, which includes InfoChoice.com.au, YourMortgage.com.au, and YourInvestmentPropertyMag.com.au. The InfoChoice Group is associated with the Firstmac Group. We may include products and services from loans.com.au, CarLoans.com.au, and OnlineAuto.com.au, all associated with the Firstmac Group. Importantly, these brands are treated like any other commercial partner. Learn more about how we manage conflicts of interest . General Advice Disclosure The information provided by Savings.com.au is general in nature and does not take into account your personal objectives, financial situation, or needs. We recommend seeking independent financial advice before making any financial decisions. Before acquiring any financial product, obtain and read the relevant Product Disclosure Statement (PDS), Target Market Determination (TMD), and any other offer documents. Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au’s Financial Services and Credit Guide (FSCG) . Get rate alerts Stay up to date with the latest rate movements across home loans, term deposits, savings accounts and more. By subscribing you agree to our privacy policy . Join thousands of Aussies getting smarter with personal finance news, guides, expert insights and more in our regular roundup email. By subscribing you agree to our privacy policy . Send me the pod Never miss an ep! Receive episode alerts plus special invites to have your questions or savings tips read out on the show. By subscribing you agree to our privacy policy .