Buying costs more than the deposit: stamp duty, conveyancing, inspections and lender fees all fall due around settlement, and lenders size the loan against the lower of the purchase price and their own valuation. Pre-approval usually lasts about three months, so timing the search matters. Rates here span fixed and variable, owner-occupier and investment, from 5.84%This is our lowest starting rate for these products. Other factors may change rates once you filter your results. See sorting and ranking for more info. p.a. (5.90% comparison rate) with Summerland Bank's ECO Home Loan.
Rates checked against every provider’s own published dataWe show all of the product information we are able to access. For banking products that is each provider’s public Consumer Data Right (CDR) Product Reference Data endpoints, published under the Consumer Data Standards (CDS) maintained by the Data Standards Body. Where a provider does not publish a field, or a row is an editorial selection, we say so. on 19 Oct 2026
Borrowing $500,000 over 30 years at the lowest advertised shown:
Monthly repayment from
$2,947/mo
Total repaid
$1,060,745
Total interest
$560,745
Estimate only, based on the lowest advertised interest rate shown and assuming equal monthly repayments. Actual repayments depend on your rate, fees and loan terms.
Suitable for Investment and Owner Occupied residential borrowing with LVR up to 95%. Fixed and Variable rates available including for construction purpose (variable only)
Suitable for Investment and Owner Occupied residential borrowing, LVR up to 95%. Fixed and Variable rates available including for construction purpose (variable only)
Suitable for Investment and Owner Occupied residential borrowing. LVR up to 95%. Fixed and Variable rates available including for construction purpose (variable only)
Get a loan that's simple to use and easy to understand. Just a great low rate that helps you pay your home off faster. Available on new loans $100,000+, borrowing less than 90% of the property value…
MyState offers a premium variable rate product for customers seeking a home loan in excess of… $100,000. If you're buying or building your own home, a residential investment property, a block of land…
The Better Choice Gold Special Basic Variable Home Loan offers a standard variable loan. Available up to 80% LVR, this loan suits borrowers that are looking for flexibility with their home loan and…
We’re proudly supporting the Government’s initiative to help Australians purchase their first home… sooner. Border Bank will help you get into your first home with our low rates and great features.
Rates and fees are sourced from each provider’s CDR Product Reference Data where the provider publishes it.
Comparison rate warning and base criteria
Base criteria: repayment figures shown in this table are calculated on a loan of $500,000 over 30 years. Repayment estimates use each loan’s advertised interest rate, with the comparison rate shown beside it as a guide to total cost. These figures are examples only. They are not a quote, and they may not include all fees and charges.
*Warning: the comparison rate shown is calculated by the lender on its own standard example, usually a $150,000 loan over 25 years. This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
About this table: we publish this table so you can research credit products, by bringing together in one place the banking data lenders publish under the Consumer Data Right. Using that data, we have tried to show products that match this table’s title. This table does not compare all products, and there may be products with a lower rate in the market that are not shown here. Do your own research to find a product that suits your needs and financial goals. See how we choose products for tables like this.
Products are selected for relevance to the table and to the filters applied. They are not suggestions or recommendations, and the order they appear in is not a ranking of suitability.
Find out moreShow less
Rates, fees and charges are subject to change without notice. Before acting on any information shown here, you should confirm the rates, fees, charges and product information with the provider. For clarity, where we have used the terms “lowest” or “best”, these relate solely to the rates of interest offered by the provider and not to any other factor. The application of these terms to a particular product is subject to change without notice if the provider changes their rates.
This table does not compare every feature that may be relevant to you. Changing the filters will surface further relevant products. See how we sort and rank products and how we make money.
This information is general in nature. It does not take into account your objectives, financial situation or needs, and it is not a recommendation to apply for or hold any particular product. You should read the provider’s Key Facts Sheet, Target Market Determination and credit contract terms before deciding. CompareThat compares products. We do not arrange, approve or process applications.
Getting a home loan to buy a property
When you buy a home, a loan covers the gap between your deposit and the purchase price, repaid with interest over an agreed term. The property is the security for the loan. Getting the structure right at purchase, meaning the rate, the features and the repayment type, sets up the next few years.
How much can you borrow and what deposit you need
Your borrowing power depends on income, expenses, existing debts and the lender’s serviceability buffer. Your deposit sets your loan-to-value ratio: a 20% deposit (80% LVR) avoids Lenders Mortgage Insurance, while smaller deposits are possible with LMI or, for some buyers, a government guarantee.
Pre-approval and the buying process
Pre-approval gives you a conditional indication of how much a lender will lend, which supports bids and offers. It isn’t a guarantee. Final approval follows a valuation and full assessment. Costs beyond the deposit include stamp duty, legal and inspection fees.
How home loans for a purchase compare
The comparison rate, features such as offset and redraw, and the choice between fixed and variable are what separate them. Loans can be compared side by side, and the full market is on the home loans hub.
Expert view
“When buying, pre-approval and a comparison of loans before falling for a property changes the negotiation. The structure you choose at settlement (offset, redraw, fixed or variable) shapes the next few years, and it’s far easier to set up well now than to refinance to fix it later.”
JP
Jordan Pearce
Senior finance writer, CompareThat
Glossary
The key terms you’ll meet when comparing these products, reading product disclosures or talking to a provider.
Term
What it means
Comparison rate
A single rate that combines the advertised interest rate with most fees and charges, so loans can be compared on a like-for-like basis.
Conditional approval
A lender’s preliminary agreement to lend, subject to conditions such as a satisfactory valuation and full documentation; also called pre-approval.
Fixed rate
An interest rate locked for a set term, so repayments stay the same regardless of market movements, usually with limited extra repayments or offset.
Interest-only
A repayment type where you pay only the interest for a period; the loan balance does not reduce and the rate is often higher.
Lenders Mortgage Insurance (LMI)
A one-off insurance premium that protects the lender, usually charged when you borrow more than 80% of a property’s value.
Loan-to-value ratio (LVR)
The size of your loan expressed as a percentage of the property’s value. A 20% deposit gives an 80% LVR.
Offset account
A transaction account linked to your loan; its balance is offset against the loan, reducing the interest you are charged.
Pre-approval
A conditional indication of how much a lender will lend, used to bid or make offers before you’ve found a property.
Principal and interest (P&I)
A repayment type that pays down both the amount borrowed and the interest, reducing the balance over the life of the loan.
Redraw
A facility that lets you access extra repayments you have made above the minimum, if you need the money back later.
Settlement
The day ownership legally transfers, the loan funds are advanced and the purchase completes.
Stamp duty
A state or territory government tax on property purchases, separate from the loan, that varies by location and property value.
Variable rate
An interest rate that can move up or down with the market, usually paired with more features such as offset and unlimited extra repayments.
Common questions
How much deposit do I need to buy a property?+
A 20% deposit avoids Lenders Mortgage Insurance, but you can often buy with 5% to 10% using LMI or an eligible government guarantee. A larger deposit usually unlocks a sharper rate.
What is pre-approval?+
Pre-approval is a conditional indication from a lender of how much it’s prepared to lend, based on a preliminary assessment. It helps you bid or make offers, but isn’t a final guarantee.
How long does loan approval take?+
Timeframes vary by lender. Pre-approval can take anywhere from a day to a couple of weeks, and full approval after you have found a property depends on the valuation, your documents and the lender's current workload. Lenders can give their current turnaround, which matters when a settlement date is set.
What is the difference between fixed and variable when buying?+
Fixed gives repayment certainty; variable gives flexibility and features like offset. Which fits depends on the budget and how the loan will be managed. Some buyers split the two.
What costs come on top of the deposit?+
Stamp duty (with concessions for some first home buyers), legal or conveyancing fees, building and pest inspections, loan fees and possibly LMI.
The Numbers Behind This Market
What this market is paying or charging on average right now, and the official figures behind it.
We are not a lender, broker or bank. Product data comes straight from each provider’s own Consumer Data Right feed (Australia’s official open banking system) and is refreshed daily, so what you see reflects published rates and fees, not a sales pitch.
✓Not a credit provider: we do not lend, arrange loans or take applications.
✓Sourced from each provider’s CDR Product Reference Data, refreshed daily.
✓Payment can change where a product appears, never which products we show.
✓General information, not credit advice. CompareThat compares; it does not recommend.
Rates and fees are sourced from each provider’s CDR Product Reference Data as of the date shown. They are general information only. Not credit advice. CompareThat is not a credit provider. Payment can change where a product appears, never which products we show.
