In the past week, two lenders - Community First Credit Union and Easy Street Financial Services - introduced home loans below the 2.00% p.a. mark.

However, only one had a comparison rate under 2.00% p.a. to go with it.

Buying a home or looking to refinance? The table below features home loans with some of the lowest variable interest rates on the market for owner-occupiers.

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LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees Max LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkComparePromoted ProductDisclosure
6.04% p.a.
6.06% p.a.
$3,011
Principal & Interest
Variable
$0
$530
90%
4.6 Star Customer Ratings
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Quick and easy online application process.
Disclosure
5.99% p.a.
5.90% p.a.
$2,995
Principal & Interest
Variable
$0
$0
80%
Apply in minutes
  • 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.
 Disclosure
6.09% p.a.
6.11% p.a.
$3,027
Principal & Interest
Variable
$0
$250
60%
  • No annual fees – None!
  • Get fast pre-approval
  • Unlimited additional repayments free of charge
 Disclosure
5.69% p.a.
6.16% p.a.
$2,899
Principal & Interest
Fixed
$0
$530
90%
  • Available for purchase or refinance, min 10% deposit needed to qualify.
  • No application, ongoing monthly or annual fees.
  • Flexibility to split your loan with both fixed and variable rates
 Disclosure
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. 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. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

In the wider market, it was a fairly subdued week for home loan interest rate reductions. 

Two key lenders to make notable rate reductions were Bank of Us and Bank First.

Bank of Us - a Tasmanian-based lender that was the first to introduce a sub-2.00% home loan a few weeks back - made some further rate changes to its fixed products. Some key changes were:

  • FlexiDiscount Fixed 3 Years 80%: 64 basis point cut to 2.49% p.a. (2.74% p.a. comparison rate*)
  • FlexiDiscount Fixed 1 Year 80%: 44 basis point cut to 2.49% p.a. (2.78% p.a. comparison rate*)

A variety of other fixed owner-occupier loans were cut, including some 90% LVR loans.

Meanwhile, at the start of August Bank First also made some cuts, primarily to its variable 'Premier Package' home loans for both owner-occupiers and investors. Some key cuts were:

  • Premier Package Inv 80%: 15 basis point cut to 2.88% p.a. (3.32% p.a. comparison rate*)
  • Premier Package O/O 80%: 15 basis point cut to 3.33% p.a. (3.76% p.a. comparison rate*)

Various 90% LVR products were also cut.

Newcastle Permanent, AMP also cut

Newcastle Permanent made a few cuts to its 'Real Deal' home loans, with some as special offers. Some key cuts were:

  • Real Deal P&I 80% Special Offer: 13 basis point cut to 2.59% p.a. (2.63% p.a. comparison rate*)
  • Real Deal P&I 80% Inv Special Offer: 12 basis point cut to 2.99% p.a. (3.03% p.a. comparison rate*)

Similar loans across different maximum LVRs and ones paying interest-only were also cut.

Meanwhile, AMP made just two cuts on Wednesday. They were to its variable 'Professional Package' home loans as a special offer:

  • P&I 80% 100-499k: 14 basis point cut to 2.59% p.a. (3.00% p.a. comparison rate*)
  • P&I 80% 500k+: 10 basis point cut to 2.59% p.a. (3.00% p.a. comparison rate*)

Note that as with most lenders, special offers can be withdrawn at any time.



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