Compare 153 home loans from the 15 providers including Commonwealth Bank, NAB, ANZ, Citibank.
The table below provides the home loan interest rates of some home loans currently available in the market. You can also see the comparison rates for each product. To find out more about each mortgage and to compare home loans, simply tick the box of the relevant product and click the 'Compare' button. Just keep in mind that we don't list every home loan in the market and when you're doing a comparison we may not have every feature available to compare.
The list below is not to be taken as a recommendation or an endorsement of any product or provider. We do not have any details of your personal circumstances and therefore are unable to make a recommendation as to which product might be most suitable for you. The information is presented to you so that you may make a decision based on your personal circumstances. The information in the list is presented randomly.
What To Look Out For When You Compare Home Loans
Looking at the headline interest rate is only one way to evaluate home loans - and it's a very limited way of making such an important financial decision. There are many features of a home loan that are very important and it is a good idea to do more than just compare interest rates. You could also look out for are things such as application fees, monthly or annual fees, whether you can make additional repayments, what happens if you want to pay out the loans early, if you can redraw on your mortgage, the amount required for a deposit, and the length of the loan.
Fixed Rate or Variable Rate
When comparing home loans another important decision is whether that interest rate is a fixed rate or variable rate.
Fixed rate home loans have an interest rate that can't be changed for a set period of time. This means your repayments will be a fixed amount and may allow you to budget with greater certainty. If your bank increases or decreases their variable interest rate, you won't be affected while on a fixed rate. At the end of the fixed period, most loan products will revert to a variable rate - but check with your lending institution for exact details on what may apply to you.
A variable rate home loan means that the interest payments will vary if the bank decides to change interest rates, often (but not always) due to the RBA changing the cash rate. This could be good if rates drop, because it means your repayments will decrease, however if rates rise you may find yourself under more financial pressure.
Even the brightest economists have trouble predicting the future of cash rates and interest rates, so be careful when listening to predictions from friends or so-called experts. If you need assistance then speak to a licensed professional who can look at your financial situation and can make recommendations based on your current position and future objectives. The choice to go fixed or variable should be based on all of these factors and more.
Check The Comparison Rate
The comparison rate is very important as it shows the true rate of the mortgage when costs such as fees and charges are included. This should be looked at to provide you with an even more thorough interest rate comparison.
Set A Budget
When you compare home loan features, it's only part of the picture of your financial commitment. Your repayments will also be determined on the amount you need to borrow. You may find it helpful to set a budget on what you can afford before you start seriously looking at houses. It's easy to fall in love with a house that may push you beyond levels that you can comfortably afford.
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The content of this website has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should not acquire any financial products before taking into account whether your selected products are appropriate to your personal circumstances, having regard to your own objectives, financial situation and needs. Whilst reasonable efforts are maintained to provide accurate, true and correct information, it is advised that you confirm the terms of any product or contract and consult the product disclosure statement before making a decision to apply to any product issuer. If you have any doubts, you should obtain legal and financial advice before acquiring any financial products.
MoneyBuddy is a business owned and operated by Ibis Group Pty Ltd ACN 114 205 551, authorised credit representative number 431794 of Pingtree Pty Ltd ACN 159 893 491, Australian Credit Licence number 434380
Hi there! Welcome to MoneyBuddy.com.au. This section is to explain some more about what we do and how we do it – just in case you were wondering. :)
MoneyBuddy is a personal financial information website based in Australia. Money decisions are an important, regular part of life and we want to help you make those decisions with greater confidence with the information that we provide on our site so you can compare some of the products and features available in the market.
But we don’t know your personal circumstances or financial goals – everyone's financial situation is unique. So we don't offer personal advice or personal recommendations. All the information we provide on MoneyBuddy is general in nature. If you want some specific financial advice, then speak with a licensed financial advisor.
On MoneyBuddy we display financial rates and products from a wide range of banks, credit unions and other finance companies. We don't list every financial product or provider that is in the market. We focus on displaying products that we think our users will want to see and compare and where we get regular updates to rate changes, so that we know we can provide accurate information.
The order that products are displayed in our comparison tables does not reflect any rating, endorsement or ranking. When comparing the products on our website you need to take into account your own financial situation and objectives.
We have a 'Special Offers' section which highlights some products based on a particular discount or deal that is being offered. As described above these are not an endorsement and are not ranked. If you want to look more closely at these products you’ll need to decide if they are right for you.
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