Put an end to low rate FOMO with these top home loans

By Kylie Moss · Last updated Wednesday, 9 April 2025 · 2 min read

Fact Checked

While there’s a lot of uncertainty in the global market right now, it could be an opportunity for you to make some smart money moves with your mortgage.

There’s been a lot of activity in the home loan market in recent months, and lenders big and small are fighting it out for new customers with low home loan rates and deals that haven’t been this low since the Covid pandemic.

And don’t be put off by thinking that small rate differences don’t mean much.

A 0.50% rate difference could mean thousands of dollars each year in savings depending on your loan size.

For instance, the average owner occupier variable rate in our database for a $500,000 loan is currently 6.43% p.a. If you were to switch to a rate of 5.93% p.a, your monthly repayments would be $154 a month cheaper. And over the life of the loan (25 years) you’d pay a whopping $46, 215 less interest.^

Now, if that’s not enough to give you some serious FOMO then I don’t know what is!

And if you’re put off by the thought of all the paperwork needed, switching home loans has also become a lot quicker and easier in recent years with digital applications and online approvals. In fact, you can make an application with some lenders in as little as 10 minutes.

Check out some of the latest home loan offers below and compare:

Important disclosures and comparison rate warning*

Important disclosures

Advertiser disclosure

This table shows a range of products, and we may receive payment if you use the links provided. It does not show all providers or all products from the providers. Mozo is paid a fee by the product issuer if you use a link on our site to go to their site from ours, make an inquiry, or you take out a product with them. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo. You do not pay any extra for using our service.

We may also include the option to search all the products in our database, regardless of whether we have a commercial relationship with the providers of those products or not. While we pride ourselves on covering a wide range of products, we don't cover every product in the market.

Sometimes we may choose to advertise certain products more prominently, either by showing them as ‘Promoted’ at the top of a table or by selecting a set of specific products to feature on a page. Otherwise our comparison tables typically sort according to estimated repayments for loans and interest rates for deposits, and they show products that meet the criteria in the filters. You can change the filter settings to see other products.

We provide only general advice

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the Product Disclosure Statement (PDS) or offer documentation, or seeking independent advice. It is also advised to review Target Market Determination(TMD) of products that you are considering. The TMD can be found on the provider's website.

Comparison rate warning

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

How Initial Monthly Repayments figures are estimated

Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

Unloan - Variable Home Loan

5.74% p.a. variable rate (5.65% p.a. comparison rate*)
Zero upfront or ongoing fees
Low cost home loan winner - Mozo Experts Choice Awards 2023, 2024 & 2025^

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Unloan’s Variable Home Loan has taken out a low cost home loan award for an impressive third year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner-occupiers a super low 5.74% p.a. variable rate (5.65% p.a. comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for loans of up to $10M. Minimum 20% deposit.

NRMA Home Loans Variable Home Loan

5.78% p.a. variable rate (5.82% p.a. comparison rate*)
Zero application fees to pay
Free additional repayments and online redraw

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Enjoy a competitive interest rate on up to a 30 year loan term with the NRMA variable home loan. There is no application fee to pay and you can make unlimited additional repayments to pay your home loan off sooner. You’ll get free online redraw and have the option to add a 100% offset account for a small fee. 10% minimum deposit. Fees & charges apply, Australian Credit Licence 237879 is held by Bendigo and Adelaide Bank Limited, the credit provider.

uBank Flex Variable Home Loan

5.84% p.a. variable rate (6.08% p.a. comparison rate*)
Multiple offset accounts available
Free extra repayments and redraw facility

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Whether you’re buying or refinancing, uBank’s Flex Variable Home Loan gives you lots of options. You can get a 100% interest offset across multiple Spend, Bills and Save accounts and make as many additional payments as you want at no extra charge (T&Cs apply). On top of all that, this loan offers the perfect balance of flexibility and security, that you can split your Flex variable home loan with a uBank fixed home loan too. 40 % deposit required. Annual fee to pay.

Macquarie Basic 2 year Fixed Home Loan

Fixed rates from 5.39% (5.82% comparison rate*) - minimum 30% deposit
Free redraw from your loan using Macquarie Online
No application or account management fees

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This competitive fixed home loan from Macquarie has all the bells and whistles you'd expect of Australia's fifth largest lender, including free extra repayments and online redraws for up to $10,000 per annum. There's also no application or account management fees to pay so you could save more in the long term.

loans.com.au Variable Home Loan 90

Variable interest rate from 5.79% p.a. (5.83% p.a. comparison rate*) for LVR < 90%
No application fees to pay
Optional offset

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If you're in the market for a competitive rate on a variable home loan, online lender loans.com.au has come through with the goods. There are no application fees to pay and you only require a 10% deposit to get started. You can borrow between $50,000 to $2,000,000, plus, you’ll have the freedom to make free extra repayments, and redraw them without penalty too. $300 settlement fee applies. (T&Cs apply).

Calculate your home loan repayments

We can show you the monthly repayment amount for a range of loans

^As at 9 April, 2025. Based on a $500,000 owner occupier variable home loan over 25 years (P&I, 80% LVR) in the Mozo database. Savings calculations using the Mozo home loan comparison calculator.

^* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

^** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.