Home loans for first home buyer
Big four banks
Australia's big four banks - ANZ, CBA, NAB and Westpac - dominate the financial market, account for roughly 74% of home loans in Australia by value.
ANZ
5.74%
Fixed rate
6.81% comparison rate
Home Loan
Commonwealth Bank
5.89%
Fixed rate
7.8% comparison rate
Wealth Package
NAB
5.89%
Fixed rate
6.62% comparison rate
Tailored Home Loan
Westpac
5.89%
Fixed rate
7.08% comparison rate
Premier Advantage Options Home Loan
Commonwealth Bank
6.34%
Variable rate
6.72% comparison rate
Wealth Package Standard
ANZ
6.39%
Variable rate
6.39% comparison rate
Simplicity Plus
NAB
6.44%
Variable rate
6.48% comparison rate
Base Rate
Westpac
6.44%
Variable rate
6.76% comparison rate
Flexi First Option Introductory Home Loan
Major banks
Other major banks account for close to 20% of home loans in Australia. Some are also owned by the big 4 banks. They tend to have a stricter lending policies compare to the big 4 banks, and some lenders are very conservative with their assessment process, hence they are able to offer slighly lower interest rates.
Bendigo Bank
5.54%
Fixed rate
6.32% comparison rate
Complete Home Loan
HSBC
5.59%
Fixed rate
6.32% comparison rate
Home Loan Package
Adelaide Bank
5.64%
Fixed rate
6.13% comparison rate
Smartsaver Home Loan
ING
5.69%
Fixed rate
6.04% comparison rate
Orange Advantage
BOQ
5.69%
Fixed rate
6.31% comparison rate
Fixed Home Loan
Macquarie Bank
5.69%
Fixed rate
5.97% comparison rate
Basic Home Loan
St.George Bank
5.79%
Fixed rate
7.40% comparison rate
Advantage Package
Bank of Melbourne
5.79%
Fixed rate
7.40% comparison rate
Advantage Package
BankSA
5.79%
Fixed rate
7.40% comparison rate
Advantage Package
AMP Bank
5.89%
Fixed rate
6.94% comparison rate
Professional Package
Online only lenders
Digital home loans are offered by banks and lenders that do not have branch access or employ staff to meet with customers in person. The trade-off is that you get cheaper interest rates and pay lower ongoing fees, but you will also face stricter lending policies. To get approved for a digital home loan, you generally need to be a “vanilla” customer with a PAYG job and buying a standard residential property.
Tiimely Home
5.54%
Fixed rate
5.95% comparison rate
Refinance & Purchase
loans.com.au
5.69%
Fixed rate
6.16% comparison rate
Fixed Home Loan
Ubank
5.79%
Fixed rate
6.23% comparison rate
Flex Home Loan
Athena
5.94%
Fixed rate
6.17% comparison rate
Home Loan
Tiimely Home
5.99%
Variable rate
6.00% comparison rate
Refinance & Purchase
loans.com.au
5.99%
Variable rate
6.51% comparison rate
Green Home Loan Intro
Unloan
5.99%
Variable rate
5.90% comparison rate
Home Loan
Ubank
6.09%
Variable rate
6.11% comparison rate
Neat Home Loan
Athena
6.24%
Variable rate
6.24% comparison rate
Straight Up
Sucasa
6.30%
Variable rate
6.58% comparison rate
Ultra Low Rate
Mutual banks and credit unions
Mutual banks, credit unions, and buildings societies all fall into the customer-owned banking sector in Australia. Although customer-owned banks can often offer you a better interest than other banks and lenders, you generally have to be a strong borrower to get approved.
Bank Australia
5.24%
Fixed rate
6.24% comparison rate
Clean Energy Eco Plus Home Loan
People's Choice
5.39%
Fixed rate
6.26% comparison rate
Home Loan Package First Home Buyer
Police Credit Union
5.39%
Fixed rate
6.59% comparison rate
Fixed Home Loan
BankVic
5.49%
Fixed rate
6.03% comparison rate
Home Loan
Australian Mutual Bank
5.49%
Fixed rate
6.24% comparison rate
Home Loan
Heritage Bank
5.49%
Fixed rate
6.26% comparison rate
Home Advantage
Northern Inland CU
5.49%
Fixed rate
6.47% comparison rate
Dream Home Loan
Easy Street Fin Services
5.49%
Fixed rate
5.98% comparison rate
Easy Street
Newcastle Permanent
5.49%
Fixed rate
7.45% comparison rate
Premium Plus Package
Geelong Bank
5.50%
Fixed rate
6.99% comparison rate
Fixed Home Loan