5 Year Fixed Rate Home Loans Comparison

Compare 5 Year Fixed Rate Home Loans

Everyone has their own opinion about fixed interest rates and how to choose a fixed rate term, however, the only opinions you should be worried about are those offered by experienced and knowledgeable home loan industry experts, who have first considered your financial situation, your home loan needs and your future goals, before offering their opinion. This is because, while your choice of a fixed interest rate and fixed term should be dependent on the current economy and interest rate cycle, your choice will always be finally determined by what you will be doing in the future and where you want your home loan to be able to take you.

Featured 5 Year Fixed Rate Home Loan

Apply for UBank UHomeLoan – 5 Year Fixed Rate and get a low interest rate, plus no application fee, no valuation and lender's legal fee.

• Interest Rate of 6.84%
• Comparison Rate of 6.66%
• Application Fee of $0
• Maximum LVR With LMI: 80%
• Minimum Borrowing: $100,000
• Maximum Borrowing: $1,000,000

Enquire about the UBank UHomeLoan – 5 Year Fixed Rate terms and conditions

5 Year Fixed Rate Loans

Home Loan	Details	Interest Rate (p.a.)	Comp Rate^ (p.a.)	App Fee / Ongoing Fee	Max LVR	Min & Max Borrowing
UBank UHomeLoan – 5 Year Fixed Rate	Enjoy certainty in your repayments with this great fixed rate loan.	6.84%	6.66%	$0 / $0	80%	$100,000 / $1,000,000
Illawarra Home Loans Bank Beater Fixed Home Loan – 5 Year Fixed Rate	Borrow up to 90% of your loan with a low interest rate. Plus $0 application fee.	6.57%	6.67%	$0 / $345	90%	$250,000 / $1,000,000
MyRate Fixed Rate Home Loan – 5 Year Fixed Rate	A secure loan offering a great rate.	6.55%	6.45%	$0 / $0	95%	$100,000 / $2,000,000
State Custodians Mortgage Company Standard Fixed Home Loan – 5 Year Fixed Rate	Take advantage of zero application or ongoing fees and save with this fixed rate.	6.49%	6.70%	$0 / $0	95%	$150,000 / $1,000,000
Illawarra Home Loans Bank Beater Home Loan	A low interest rate, beaten down even further by 0.05% p.a. after 5 years.	6.18%	6.46%	$0 / $345	90%	$250,000 / $1,000,000
Easy Street Easy Home Loan – 2 Year Fixed Rate	Apply for an Easy Street fixed rate home loan and get a competitive loan with a fixed interest rate.	6.29%	6.57%	$500 / $0	95%	$100,000 / $0
Community First Fixed Home Loan – 3 Year Fixed Rate	A fixed rate home loan that allows you to make additional repayments during the fixed period and access to an unlimited redraw facility with no minimum redraw amount.	6.29%	7.37%	$500 / $0	95%	$100,000 / $1,000,000
St. George Fixed Rate Home Loan – 5 Year Fixed Rate	A low rate home loan with redraw facility.	7.09%	7.63%	$600 / $10	95%	$10,000 / $10,000,000

Since you are likely to be just starting out on what could be an arduous fact-finding mission to learn more about home loan interest rates, build your knowledge from the basics by finding out more about the features of a five-year fixed interest rate home loan:

• You can apply a fixed interest rate to your loan at any time.
• Once fixed your interest rate will not increase if the Reserve Bank or your lender decides to increase interest rates during the five-year term.
• Your home loan repayments will remain the same throughout your five-year fixed rate term.
• If official interest rates go down or your lender reduces their home loan interest-rate your rate will stay the same until the end of the five-year fixed period.
• There is not usually a fee to apply are fixed interest rate to your loan.
• Some loan functionality may be impaired during a fixed rate term, or may be charged a fee. For example you may not be able to make additional repayments to a fixed rate loan, or you may be charged to do so.
• If you choose to pay out all refinance your loan for any reason during your five-year fixed term you are likely to have to pay significant exit fees.

Key Questions to Help you Decide on a Five-Year Fixed Rate Loan

• Why it is so important to compare fixed interest rate offers between lenders.
  Most of the major Australian banks are able to offer quite competitive variable interest rates as they aim to always outdo each other. However as you start comparing five-year fixed rates you will notice that they can differ significantly between the lenders. This is due in part to the fact that fixed rates are not fixed until you enter into the chosen term and as a result can fluctuate from week to week, plus each lender uses their own economists and experts to help them decide where interest rates will be going in the future and everyone has their own opinion on that.
• Why you should fix your interest rates when all is well.
  When interest rates are low and the economy is stable you are probably not thinking about choosing a fixed interest rate. However this is exactly when you should be choosing a fixed rate term because when the economy is unstable lenders will increase their fixed rates to take advantage of their customers’ financial concerns. Also when interest rates are at their lowest it is the best time to fix because you can lock in a low rate and not be affected as the interest-rate cycle begins to climb again.
• Why a five-year fixed rate term can secure your future.
  If interest rates are tipped to rise in the medium term then locking your home loan in for five years potentially can save you thousands of dollars because that is over 50 chances for the Reserve Bank to meet and decide your financial future. A five-year fixed interest rate can also help you settle your finances if there is little room in your budget for increased home loan repayments.
• How to get your fixed rate right from the beginning.
  From the time you apply for a fixed interest rate loan or term to the time that the fixed rate is applied your lender or the Reserve Bank or both may make changes to your interest rate. That is why you may want to consider taking advantage of a rate lock where you pay a small fee at the time of application and that secures the interest rate on that day, rather than the rate in a week or month’s time when the transaction is settled. Five years is a long time in the home loan market and you want to make sure you’re getting it right from the beginning.