Investment Home Loans, Interest Rates, Fees & Calculator - Best Find

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Investment Home Loans

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Home Loan Overview

Maximum LVR 80%

Maximum insured LVR 90%

Minimum loan amount$50,000

Maximum loan amount$2,000,000

Minimum loan term 1 year

Maximum loan term 30 years

Interest rate type Variable

Home loan interest rates (base)3.44%

Home loan comparison rate3.44%

GO TO Reduce Home Loans

Repayments & Redraws

Monthly repayments (approx)$891

Total repayments (approx)$320,904

Total interest (approx)$120,904

Redraw facility Yes

Redraw fee $0

Minimum redraw amount $500

Offset facility No

Extra repayments allowed? Yes

Extra repayment fees $0

Extra repayments restrictions No

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Reduce Home Loans

Home Loan Fees

Application fee $0

Legal fee Approx. $220+ disbursements

Valuation fee $250

Settlement fee $150

Discharge fee $750

Regular or monthly fee $0

GO TO Reduce Home Loans

Loan Availability

InvestmentNo

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Reduce Home Loans

Other

SponsoredYes

Data accurate as of1/11/2018

GO TO Reduce Home Loans

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Our cheapest, simplest variable rate loan, is still packed with features.

Home Loan Overview

Maximum LVR 80%

Maximum insured LVR 80%

Minimum loan amount$150,000

Maximum loan amount$100,000,000

Minimum loan term 1 year

Maximum loan term 30 years

Interest rate type Variable

Home loan interest rates (base)3.67%

Home loan comparison rate3.72%

GO TO Heritage Bank

Repayments & Redraws

Monthly repayments (approx)$917

Total repayments (approx)$330,184

Total interest (approx)$130,184

Redraw facility Yes

Redraw fee $0

Minimum redraw amount TBA

Offset facility No

Extra repayments allowed? Unlimited

Extra repayment fees TBA

Extra repayments restrictions TBA

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Heritage Bank

Home Loan Fees

Application fee $150

Legal fee $0

Valuation fee $0

Settlement fee $150

Discharge fee $200

Regular or monthly fee $0

GO TO Heritage Bank

Loan Availability

InvestmentNo

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Heritage Bank

Other

SponsoredYes

Data accurate as of1/11/2018

GO TO Heritage Bank

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No upfront or ongoing fees. Save more than $500 and enjoy not having to pay on upfront or monthly fees. Free online redraw and unlimited additional repayments. 100% mortgage offset account.

Home Loan Overview

Maximum LVR 80%

Maximum insured LVR 80%

Minimum loan amount$150,000

Maximum loan amount$2,000,000

Minimum loan term 5 years

Maximum loan term 30 years

Interest rate type Variable

Home loan interest rates (base)3.79%

Home loan comparison rate3.79%

GO TO Beyond Bank

Repayments & Redraws

Monthly repayments (approx)$930

Total repayments (approx)$335,080

Total interest (approx)$135,080

Redraw facility Yes

Redraw fee $0

Minimum redraw amount

Offset facility Yes

Extra repayments allowed? Unlimited

Extra repayment fees $0

Extra repayments restrictions No

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Beyond Bank

Home Loan Fees

Application fee $0

Legal fee $0

Valuation fee $0

Settlement fee $0

Discharge fee $295

Regular or monthly fee $0

GO TO Beyond Bank

Loan Availability

InvestmentNo

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityACT, NSW, NT, QLD, SA, TAS, VIC, WA

GO TO Beyond Bank

Other

SponsoredYes

Data accurate as of5/06/2018

GO TO Beyond Bank

Hide info -

The Variable home loan is aimed at those looking for greater flexibility with their loan. The Variable account comes with a 100% offset account which allows for additional lump sum payments and higher loan repayments. This loan is perfect for those looking for greater flexibility within their lives.

Home Loan Overview

Maximum LVR 80%

Maximum insured LVR 80%

Minimum loan amount$50,000

Maximum loan amount$1,250,000

Minimum loan term 1 Year

Maximum loan term 30 Years

Interest rate type Variable

Home loan interest rates (base)3.99%

Home loan comparison rate3.90%

GO TO Freedom Lend

Repayments & Redraws

Monthly repayments (approx)$953

Total repayments (approx)$343,324

Total interest (approx)$143,324

Redraw facility No

Redraw fee $0

Minimum redraw amount $0

Offset facility No

Extra repayments allowed? Yes

Extra repayment fees $0

Extra repayments restrictions $20,000 p.a

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Freedom Lend

Home Loan Fees

Application fee $0

Legal fee $0

Valuation fee $0

Settlement fee $0

Discharge fee $535

Regular or monthly fee $0

GO TO Freedom Lend

Loan Availability

InvestmentNo

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Freedom Lend

Other

SponsoredYes

Data accurate as of3/7/2018

GO TO Freedom Lend

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With a Beyond Bank Fixed Rate Home Loan you can sit back and relax with knowledge your repayments won’t change (during your fixed-rate term).

Home Loan Overview

Maximum LVR 90%

Maximum insured LVR 90%

Minimum loan amount$150,000

Maximum loan amount$2,000,000

Minimum loan term 5 years

Maximum loan term 30 years

Interest rate type Fixed - 3 Year

Home loan interest rates (base)4.84%

Home loan comparison rate5.19%

GO TO Beyond Bank

Repayments & Redraws

Monthly repayments (approx)$1,054

Total repayments (approx)$379,501

Total interest (approx)$179,501

Redraw facility Yes

Redraw fee $0

Minimum redraw amount

Offset facility Yes

Extra repayments allowed? Unlimited

Extra repayment fees $0

Extra repayments restrictions $25,000

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Beyond Bank

Home Loan Fees

Application fee $0

Legal fee $0

Valuation fee $0

Settlement fee $200

Discharge fee $295

Regular or monthly fee $0

GO TO Beyond Bank

Loan Availability

InvestmentNo

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityACT, NSW, NT, QLD, SA, TAS, VIC, WA

GO TO Beyond Bank

Other

SponsoredYes

Data accurate as of31/08/2018

GO TO Beyond Bank

Hide info -

The Variable home loan is aimed at those looking for greater flexibility with their loan. The Variable account comes with a 100% offset account which allows for additional lump sum payments and higher loan repayments. This loan is perfect for those looking for greater flexibility within their lives.

Home Loan Overview

Maximum LVR 80%

Maximum insured LVR 80%

Minimum loan amount$50,000

Maximum loan amount$1,250,000

Minimum loan term 1 Year

Maximum loan term 30 Years

Interest rate type Variable

Home loan interest rates (base)3.99%

Home loan comparison rate3.90%

GO TO Freedom Lend

Repayments & Redraws

Monthly repayments (approx)$953

Total repayments (approx)$343,324

Total interest (approx)$143,324

Redraw facility No

Redraw fee $0

Minimum redraw amount $0

Offset facility No

Extra repayments allowed? Yes

Extra repayment fees $0

Extra repayments restrictions $20,000 p.a

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Freedom Lend

Home Loan Fees

Application fee $0

Legal fee $0

Valuation fee $0

Settlement fee $0

Discharge fee $535

Regular or monthly fee $0

GO TO Freedom Lend

Loan Availability

InvestmentNo

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Freedom Lend

Other

SponsoredYes

Data accurate as of3/7/2018

GO TO Freedom Lend

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Knowing what your home loan repayments will be makes it much easier to budget. Our Fixed Rate Home Loan lets you lock in a low fixed interest rate for 2 years to protect yourself against any increases in interest rates. 

Home Loan Overview

Maximum LVR 95%

Maximum insured LVR 95%

Minimum loan amount$50,000

Maximum loan amount$1,000,000

Minimum loan term 2 years

Maximum loan term 30 years

Interest rate type Fixed - 2 years

Home loan interest rates (base)4.20%

Home loan comparison rate4.23%

GO TO Easy Street Financial Services

Repayments & Redraws

Monthly repayments (approx)$978

Total repayments (approx)$352,090

Total interest (approx)$152,090

Redraw facility Yes

Redraw fee $0

Minimum redraw amount No min

Offset facility Yes

Extra repayments allowed? Yes

Extra repayment fees N/A

Extra repayments restrictions Up to $25K per year

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Easy Street Financial Services

Home Loan Fees

Application fee $500

Legal fee $0

Valuation fee $0

Settlement fee $0

Discharge fee $300

Regular or monthly fee $0

GO TO Easy Street Financial Services

Loan Availability

InvestmentYes

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Easy Street Financial Services

Other

SponsoredYes

Data accurate as of29/06/2018

GO TO Easy Street Financial Services

Hide info -

Knowing what your home loan repayments will be makes it much easier to budget. Our Fixed Rate Home Loan lets you lock in a low fixed interest rate for 2 years to protect yourself against any increases in interest rates. 

Home Loan Overview

Maximum LVR 95%

Maximum insured LVR 95%

Minimum loan amount$50,000

Maximum loan amount$1,000,000

Minimum loan term 2 years

Maximum loan term 30 years

Interest rate type Fixed - 2 years

Home loan interest rates (base)4.25%

Home loan comparison rate4.37%

GO TO Easy Street Financial Services

Repayments & Redraws

Monthly repayments (approx)$983

Total repayments (approx)$354,196

Total interest (approx)$154,196

Redraw facility Yes

Redraw fee $0

Minimum redraw amount No min

Offset facility Yes

Extra repayments allowed? Yes

Extra repayment fees N/A

Extra repayments restrictions Up to $25K per year

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Easy Street Financial Services

Home Loan Fees

Application fee $500

Legal fee $0

Valuation fee $0

Settlement fee $0

Discharge fee $300

Regular or monthly fee $0

GO TO Easy Street Financial Services

Loan Availability

InvestmentYes

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Easy Street Financial Services

Other

SponsoredNo

Data accurate as of22/12/2017

GO TO Easy Street Financial Services

Hide info -

Knowing what your home loan repayments will be makes it much easier to budget. Our Fixed Rate Home Loan lets you lock in a low fixed interest rate for 3 years and protect yourself against any increases in interest rates. 

Home Loan Overview

Maximum LVR 95%

Maximum insured LVR 95%

Minimum loan amount$50,000

Maximum loan amount$1,000,000

Minimum loan term 3 years

Maximum loan term 30 years

Interest rate type Fixed - 3 years

Home loan interest rates (base)4.39%

Home loan comparison rate4.59%

GO TO Easy Street Financial Services

Repayments & Redraws

Monthly repayments (approx)$1,000

Total repayments (approx)$360,122

Total interest (approx)$160,122

Redraw facility Yes

Redraw fee $0

Minimum redraw amount No min

Offset facility Yes

Extra repayments allowed? Yes

Extra repayment fees N/A

Extra repayments restrictions Up to $25K per year

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Easy Street Financial Services

Home Loan Fees

Application fee $500

Legal fee $0

Valuation fee $0

Settlement fee $0

Discharge fee $300

Regular or monthly fee $0

GO TO Easy Street Financial Services

Loan Availability

InvestmentYes

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Easy Street Financial Services

Other

SponsoredNo

Data accurate as of22/12/2017

GO TO Easy Street Financial Services

Hide info -

Take comfort in the certainty of knowing what your repayments will be with a Community First Fixed Rate home loan.

Home Loan Overview

Maximum LVR 95%

Maximum insured LVR 95%

Minimum loan amount$50,000

Maximum loan amount$1,000,000

Minimum loan term 1 year

Maximum loan term 30 years

Interest rate type Fixed - 1 year

Home loan interest rates (base)3.79%

Home loan comparison rate5.14%

GO TO Community First Credit Union

Repayments & Redraws

Monthly repayments (approx)$930

Total repayments (approx)$335,080

Total interest (approx)$135,080

Redraw facility Yes

Redraw fee $30 staff, $15 online

Minimum redraw amount No min

Offset facility Yes

Extra repayments allowed? Yes

Extra repayment fees N/A

Extra repayments restrictions Up to $25K per year

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Community First Credit Union

Home Loan Fees

Application fee $600

Legal fee At cost

Valuation fee At cost

Settlement fee $0

Discharge fee $300

Regular or monthly fee $0

GO TO Community First Credit Union

Loan Availability

InvestmentYes

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Community First Credit Union

Other

SponsoredNo

Data accurate as of22/12/2017

GO TO Community First Credit Union

Hide info -

Take comfort in the certainty of knowing what your repayments will be with a Community First Fixed Rate home loan.

Home Loan Overview

Maximum LVR 95%

Maximum insured LVR 95%

Minimum loan amount$50,000

Maximum loan amount$1,000,000

Minimum loan term 2 years

Maximum loan term 30 years

Interest rate type Fixed - 2 years

Home loan interest rates (base)4.25%

Home loan comparison rate5.46%

GO TO Community First Credit Union

Repayments & Redraws

Monthly repayments (approx)$983

Total repayments (approx)$354,196

Total interest (approx)$154,196

Redraw facility Yes

Redraw fee $30 staff, $15 online

Minimum redraw amount No min

Offset facility Yes

Extra repayments allowed? Yes

Extra repayment fees N/A

Extra repayments restrictions Up to $25K per year

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Community First Credit Union

Home Loan Fees

Application fee $600

Legal fee At cost

Valuation fee At cost

Settlement fee $0

Discharge fee $300

Regular or monthly fee $0

GO TO Community First Credit Union

Loan Availability

InvestmentYes

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Community First Credit Union

Other

SponsoredNo

Data accurate as of22/12/2017

GO TO Community First Credit Union

Hide info -

Auswide Bank's Freedom Package Investment Loan Plus Fixed 2 Years - Interest Only is a Fixed - 2 years home loan with rates from 5.55%

Home Loan Overview

Maximum LVR 95%

Maximum insured LVR 95%

Minimum loan amount$10,000

Maximum loan amount$3,500,000

Minimum loan term 1 year

Maximum loan term 30 years

Interest rate type Fixed - 2 years

Home loan interest rates (base)4.79%

Home loan comparison rate5.55%

GO TO Auswide Bank

Repayments & Redraws

Monthly repayments (approx)$1,048

Total repayments (approx)$377,341

Total interest (approx)$177,341

Redraw facility Yes

Redraw fee $0

Minimum redraw amount TBA

Offset facility Yes

Extra repayments allowed? Yes

Extra repayment fees TBA

Extra repayments restrictions TBA

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Auswide Bank

Home Loan Fees

Application fee $600

Legal fee $0

Valuation fee $0

Settlement fee $0

Discharge fee $350

Regular or monthly fee $10 monthly

GO TO Auswide Bank

Loan Availability

InvestmentNo

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Auswide Bank

Other

SponsoredNo

Data accurate as of5/01/2018

GO TO Auswide Bank

Hide info -

Pepper's Pepper Essential Plus Investment Loan - 85%-90% LVR is a Variable home loan with rates from 6.04%

Home Loan Overview

Maximum LVR 85%

Maximum insured LVR 90%

Minimum loan amount$100,000

Maximum loan amount$850,000

Minimum loan term 1 year

Maximum loan term 30 years

Interest rate type Variable

Home loan interest rates (base)5.59%

Home loan comparison rate6.04%

GO TO Pepper

Repayments & Redraws

Monthly repayments (approx)$1,146

Total repayments (approx)$412,902

Total interest (approx)$212,902

Redraw facility Yes

Redraw fee $0

Minimum redraw amount TBA

Offset facility Yes

Extra repayments allowed? Yes

Extra repayment fees TBA

Extra repayments restrictions TBA

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Pepper

Home Loan Fees

Application fee $599

Legal fee $440

Valuation fee $0

Settlement fee $0

Discharge fee $250

Regular or monthly fee $10 monthly

GO TO Pepper

Loan Availability

InvestmentYes

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Pepper

Other

SponsoredNo

Data accurate as of5/01/2017

GO TO Pepper

Hide info -

G&C Mutual Bank's Equity Line - Investment is a Variable home loan with rates from 6.16%

Home Loan Overview

Maximum LVR No

Maximum insured LVR No

Minimum loan amount$10,000

Maximum loan amount$100,000,000

Minimum loan term 1 year

Maximum loan term 30 years

Interest rate type Variable

Home loan interest rates (base)6.12%

Home loan comparison rate6.16%

GO TO G&C Mutual Bank

Repayments & Redraws

Monthly repayments (approx)$1,214

Total repayments (approx)$437,245

Total interest (approx)$237,245

Redraw facility No

Redraw fee N/A

Minimum redraw amount Not available

Offset facility No

Extra repayments allowed? TBA

Extra repayment fees TBA

Extra repayments restrictions TBA

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO G&C Mutual Bank

Home Loan Fees

Application fee $500

Legal fee $0

Valuation fee $0

Settlement fee $0

Discharge fee $300

Regular or monthly fee

GO TO G&C Mutual Bank

Loan Availability

InvestmentYes

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditYes

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO G&C Mutual Bank

Other

SponsoredNo

Data accurate as of5/01/2017

GO TO G&C Mutual Bank

Hide info -

People's Choice Credit Union's Line of Credit is a Variable home loan with rates from 6.26%

Home Loan Overview

Maximum LVR 95%

Maximum insured LVR 95%

Minimum loan amount$20,000

Maximum loan amount$500,000

Minimum loan term 1 year

Maximum loan term 30 years

Interest rate type Variable

Home loan interest rates (base)6.10%

Home loan comparison rate6.26%

GO TO People's Choice Credit Union

Repayments & Redraws

Monthly repayments (approx)$1,212

Total repayments (approx)$436,334

Total interest (approx)$236,334

Redraw facility No

Redraw fee N/A

Minimum redraw amount Not available

Offset facility No

Extra repayments allowed? TBA

Extra repayment fees TBA

Extra repayments restrictions TBA

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO People's Choice Credit Union

Home Loan Fees

Application fee $600

Legal fee $200

Valuation fee $0

Settlement fee $150

Discharge fee $350

Regular or monthly fee $8 monthly

GO TO People's Choice Credit Union

Loan Availability

InvestmentYes

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditYes

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO People's Choice Credit Union

Other

SponsoredNo

Data accurate as of5/01/2017

GO TO People's Choice Credit Union

Hide info -

Pepper's Pepper Easy Alt Doc - Near Prime is a Variable home loan with rates from 6.64%

Home Loan Overview

Maximum LVR 60%

Maximum insured LVR 60%

Minimum loan amount$50,000

Maximum loan amount$2,000,000

Minimum loan term 1 year

Maximum loan term 40 years

Interest rate type Variable

Home loan interest rates (base)6.20%

Home loan comparison rate6.64%

GO TO Pepper

Repayments & Redraws

Monthly repayments (approx)$1,225

Total repayments (approx)$441,010

Total interest (approx)$241,010

Redraw facility Yes

Redraw fee $0

Minimum redraw amount TBA

Offset facility Yes

Extra repayments allowed? Yes

Extra repayment fees TBA

Extra repayments restrictions TBA

Repayments weekly Yes

Repayments biweekly Yes

Repayments monthly Yes

GO TO Pepper

Home Loan Fees

Application fee $995

Legal fee $440

Valuation fee $0

Settlement fee $0

Discharge fee $250

Regular or monthly fee $15 monthly

GO TO Pepper

Loan Availability

InvestmentYes

First home buyersYes

Owner occupierYes

RefinanceYes

Line of creditNo

Self-managed superNo

State availabilityNSW, VIC, SA, WA, QLD, ACT, NT, TAS

GO TO Pepper

Other

SponsoredNo

Data accurate as of5/01/2017

GO TO Pepper

Hide info -

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How to compare investment home loans

Home loans are as variable as the prospective homebuyers. There are a multitude of loans from different lending institutions. It’s worthwhile to research and compare your home loan options before making such a long-term commitment. Small differences in interest rates, terms or fees can significantly impact the overall cost of the owning a home.

Come prepared

Before you begin to compare investment home loans, it’s a good idea to come prepared with an understanding of what type of mortgage you require and for what purpose.

  • How much are you looking to spend on a property?
  • How big is your deposit?
  • Is it an investment property or will you live in the property?
  • Are you after an interest only or principal and interest home loan?
  • What features do you want with your home loan?

Additional types of investment home loans and features to consider

Consider the following when you research your options:

  • Introductory home loans. These can be a great option for first-time home buyers because these loans offer a lower interest rate for the first year or two, lower upfront fees and charges helping you reduce the overall financial strain for the first few years.
  • Interest only loans. Interest only loans are generally suited best toward investors. Interest only loans only require that the borrower pay the interest accrued and not the principal of the loan. This allows investors to purchase a property and make a minimum amount of payments on it.
  • Line of credit/home equity loans. These loans allow you to borrow against the equity of the property to pay for renovations, home improvements, purchasing a vehicle and more. Lines of credit are also a great choice for those who are building their own home to draw funds to pay for the construction.
  • Self-Managed Super Fund (SMSF) loan. A SMSF is a super fund where its members can direct the investment strategy (different than a standard super fund). In 2007, superannuation rules changed to allow Australians to use their super funds to borrow and purchase property. Many financial institutions now offer loans specifically for this situation.
  • Offset account. An offset account is a transaction account linked to an eligible home or investment loan. The money you have in this account could offset the amount you owe on that loan, and you’d only be charged interest on the difference.
  • Extra payments. Many home loans allow you to make additional payments. However, some loans and loan types limit the number of additional repayments.
  • Repayment holiday. This allows you to take some time off from paying the loan in the event of an unforeseen circumstance (like injury or illness). Some lenders only allow this if the loan is paid ahead of schedule.
  • Redraw facility. Withdraw extra payments made if your financial situation changes and you need additional money.
  • Rate lock. Typically, only offered for fixed rate loans, it ‘locks’ the price in (usually for a fee), so that in the time it takes for the loan to be approved, the rate will not change.
  • Portability. In the future, if you decide to sell your house and purchase a new one, you can transfer the existing loan to the new house to avoid additional fees on a new loan.

How to find the lowest home loan rates on BestFind?

Use the filter in our home loan comparison section to adjust your criteria and narrow down your options, until you find a suitable home loan for your situation.

You can sort and compare the products by either the comparison rate or by the approximate monthly repayments, to find the cheapest home loan for you.

What is a good home loan interest rate?

Interest rates lower than 4% are generally considered a good interest rates.

However, it is important to keep in mind that different features and loan purpose types can significantly impact the interest rates.

Moreover, many of the lowest rate mortgages may have limited features and are only available to customers that meet the lender’s financial requirements.

Calculate your mortgage repayments

The total cost of the loan includes not only the amount of money borrowed, but also interest accrued over the life of the loan as well as any additional fees and charges.

There are three types of fees you will encounter when applying for a mortgage:

  1. Upfront fees. These fees include application fees, settlement fees, valuation fees, legal fees, Lenders Mortgage Insurance (LMI), and stamp duty.
  2. Ongoing fees. Repayments, annual fees, monthly fees, redraw fees, and offset account fees.
  3. Exit fees. Title discharge fees and break costs.

This is a general overview of some of the fees you could incur during the home loan process. Each loan will differ so it is important to compare and calculate these costs to see the full cost of a home loan.

Other types of loans to compare

Your home loan will fall into one of these categories, based on why you are buying the house.

Home loans also come in different interest rate structures (variable rate loans, fixed, and split rates).

Who is eligible for investment home loans?

If you’re interested in securing a home loan but  unsure you’re eligible, consider speaking with a mortgage broker. Brokers earn a commission from the lending institution when you take out a loan, they therefore work hard to ensuring you get a loan that’s appropriate for you.

If you find yourself in one or more of the following situations, you are less likely eligible to secure a home loan:

  • You have impaired credit
  • You are on a low income
  • You are on a pension
  • You are self-employed
  • You are a casual or seasonal worker
  • You have a temporary visa
  • You do not have a down payment (but you have a pre-existing home with equity available)
  • You are on maternity leave
  • You are on a single income with a child or children
  • You recently transferred to a new job

You could still potentially get a home loan if you fall into one or more of the above criteria. However, your options may be limited. You may need to rely on getting a cheaper property, saving up a larger deposit, using equity in an existing home or taking out lender mortgage insurance (LMI).

Do I need pre-approval?

Pre-approval can make the home buying process smoother and easier. Essentially, pre-approval is when your home loan lender “conditionally” pre-approves you for a loan up to a certain amount once looking at your finances, employment, and other outstanding debts.

Prospective home buyers with pre-approval will be able to negotiate harder because they will be considered a preferred buyer. It will offer the sellers increased confidence that you’re serious and have the ability to afford the house. Pre-approval will also speed up the documentation process.

Understanding home loan interest rates

You will notice that banks advertise two types of interest rates, an “advertised rate” and a “comparison rate”.

When comparing investment home loans, you should focus your attentions towards the “comparison rate” as it takes into account your upfront and regular fees, and more accurately demonstrates the “true” cost per annum.

Home loans are offered with three interest rate types: variable, fixed, and split.

  • Variable interest rates. Borrowers can benefit from this type of interest rate if the interest rates are cut during the life of the loan. However, mortgagees can also end up paying more (if interest rates raise) and experience a lot of variance in their monthly repayment.
  • Fixed interest rates are set at a fixed rate for a stated period (usually one to five years). While a borrower with this type of interest rate may not enjoy the savings if interest rates are cut, they will also not be subject to interest rate hikes throughout the fixed term. This interest rate structure is good for setting a budget, because the monthly payments will remain consistent.
  • Split interest rates allow you to enjoy some of the benefits of both fixed and variable rates loans. Some lenders charge a fee for each split, while others do not charge a fee.