Finding The Best Home Loan Rates
There are many different types of home loans out there and the rates will vary greatly from lender to lender. You will find anything from fixed interest rate home loans, to honeymoon rate loans and then are also variable and comparative rate loans. They are useful in their own ways and you must evaluate your own situation to find out which type will be most beneficial to you.
Before You Get Started
Before you start comparing rates, you should know what you need. Here are some questions you should ask yourself before you look for a loan.
1. What are you using the property for? You need to determine exactly what you will be using the house for. Whether it is going to be your main residence or an investment property will make a big difference in the types of grants you are entitled to. There are major differences between a home loan and a loan for residential investments. You want to be sure exactly what type you are looking for.
2. How long do you want the term to be? Deciding on how long of a term you want will determine how much your repayments will be. Find out how much you can afford and how long you want to take to pay off your loan. The faster you do it means the less interest you will be paying. There are loans, however, that allow you to make extra repayments without being penalised.
Best Home Loan Comparison
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 State Custodians Mortgage Company Standard Variable Offset Loan |
Voted the best loan for first home buyers, this loan offers no application or ongoing fees and a stack of great features including unlimited redraw and 100% interest offsetting. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
 
|
 Loans.com.au – Dream Loan Express – 2 Year Fixed Rate |
A home loan offer with $0 application fee and one of the lowest available fixed rate options in market. | 5.68% | 6.07% | $0 / $0 | 80% | $50,000 / $750,000 |
|
Loans.com.au – Dream Loan Express – Variable Home Loan (80.01% -95%) |
A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 6.20% | 6.22% | $0 / $0 | 80.01% – 95% | $50,000 / $750,000 |
|
 Illawarra Home Loans Bank Beater Home Loan |
A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
Different Loans With Different Rates
The type of loan you decide on will determine what type of rate you will have. For example, if you want to have a variable rate loan, you will most likely start of with a fairly low rate but it will stay at that rate for a specified amount of time and if the market changes the rate on your loan could either go up or down.
If you want something a little more concrete, you may want to choose a fixed rate loan. This type of loan is usually a bit higher in interest rate than the variable rate loan but you will always know what your repayments will be each month.
When you are ready to compare the different types of loans and their accompanying rates, you can check them out here.
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- Best Home Loan Rates
- Home Loan Interest Rates
- ANZ Three Year Fixed Rate Home Loan
- ANZ Five Year Fixed Loan
- Are Fixed Rates Better For Adelaide Home Loans?
- HSBC Home Loan Rates
- Fixed Versus Variable Rate – Which one to Choose?
- FHOB Rush: Guide to Finding the Best Home Loan
- Home Loan Types
- NAB Three Years Fixed Rate Home Loan
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
State Custodians Mortgage Company Standard Variable Offset Loan | Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
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