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Some of the best home loans in December 2020
We’re at the beginning of the end of what may be generously described as a challenging year, after months of social upheaval and economic recession. So, what are your options if you want to start 2021 strong?
RateCity has compared home loans and ranked some of the best mortgage options based on our Real Time Ratings system, to give you a better idea of which mortgages may offer you the benefits of their cost and flexibility.
Home loans for refinancing
Do you know your current home loan interest rate? A RateCity survey found that half of Australia’s mortgage holders don’t. If you’ve been thinking of refinancing, cheaper interest rates could be available.
Following the cash rate cuts this year, several lenders have slashed home loan interest rates, with some mostly focusing on fixed rates for new customers, though variable rates for refinancers are also available.
5.99%
5.99%
$3,218
Australian Credit Licence 390860
Fees & charges apply
Star Gold Home Loan
- 2024 Award Winner
- Owner Occupied
- Variable
- 30% min deposit
- P&I
6.24%
6.27%
$3,295
Australian Credit Licence 238311
Fees & charges apply
Momentum Home Loan
- Owner Occupied
- Variable
- 40% min deposit
- P&I
6.25%
6.28%
$3,298
Australian Credit Licence 395179
Fees & charges apply
Freedom Variable
- Owner Occupied
- Variable
- 30% min deposit
- P&I
Home loans for higher house prices
Economists and mortgage industry researchers are predicting growth in Australian house prices this coming year. This is understood to be particularly true for regional areas, as Australians abandon cities for the country after a year of lockdowns, self-isolation and working from home.
While this could potentially give existing mortgage holders more equity to work with, first home buyers may soon find that they need to spend more money for their dream home. They may need to save longer to afford a deposit, but the extra time it may take could see house prices increase further. Low-deposit home loans could offer alternative options, though it’s important to consider the potential cost of LMI.
5.89%
5.89%
$3,188
Australian Credit Licence 364320
Fees & charges apply
Standard Variable Home Loan
- 2024 Award Winner
- Owner Occupied
- Variable
- 20% min deposit
- P&I
5.99%
6.10%
$3,218
Australian Credit Licence 496431
Fees & charges apply
Live-in Variable (With Offset)
- 2024 Award Winner
- Owner Occupied
- Variable
- 10% min deposit
- P&I
6.35%
6.38%
$3,329
Australian Credit Licence 395179
Fees & charges apply
Freedom Variable
- Owner Occupied
- Variable
- 20% min deposit
- P&I
6.44%
6.47%
$3,357
Australian Credit Licence 238311
Fees & charges apply
Momentum Home Loan
- Owner Occupied
- Variable
- 5% min deposit
- P&I
Home loans that can reward you
After a tough year for the economy, some state governments are looking at encouraging Australians to return to the market with offers of discounted stamp duty or an optional property tax.
Some banks and other mortgage lenders are also offering mortgage deals to encourage new customers, from packaged financial services to cashback incentives.
6.24%
6.61%
$2,600
Australian Credit Licence 237476
Fees & charges apply
Ultimate Home Loan
- Owner Occupied
- Variable
- 20% min deposit
- Interest Only
6.54%
6.79%
$2,725
Australian Credit Licence 237502
Fees & charges apply
Offset Home Loan
- Owner Occupied
- Variable
- 30% min deposit
- Interest Only
Disclaimer
This article is over two years old, last updated on December 10, 2020. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent home loans articles.
Compare home loans in Australia
5.99%
5.90%
$3,218
Australian Credit Licence 234945
Fees & charges apply
- Promoted
- 2024 Award Winner
- Special
- Owner Occupied
- Variable
- 20% min deposit
- P&I
6.09%
6.11%
$3,249
Australian Credit Licence 230686
Fees & charges apply
Products issued by ubank, part of NAB
- Promoted
- Special
- Owner Occupied
- Variable
- 40% min deposit
- P&I
6.09%
6.10%
$3,249
Australian Credit Licence 234527
Fees & charges apply
- Promoted
- Cashback
- Owner Occupied
- Variable
- 20% min deposit
- P&I
6.04%
6.08%
$3,234
Australian Credit Licence 395219
Fees & charges apply
- Promoted
- Owner Occupied
- Variable
- 10% min deposit
- P&I
6.39%
6.40%
$3,342
Australian Credit Licence 233714
Fees & charges apply
- Promoted
- Cashback
- Owner Occupied
- Variable
- 20% min deposit
- P&I
5.69%
6.13%
$3,127
Australian Credit Licence 395219
Fees & charges apply
- Promoted
- Owner Occupied
- Fixed 3 years
- 10% min deposit
- P&I
6.29%
6.20%
$3,311
Australian Credit Licence 234945
Fees & charges apply
- Promoted
- Special
- Investor
- Variable
- 20% min deposit
- P&I
6.95%
7.15%
$2,896
Australian Credit Licence 234945
Fees & charges apply
- Promoted
- Investor
- Variable
- 20% min deposit
- Interest Only
7.20%
6.90%
$3,000
Australian Credit Licence 234945
Fees & charges apply
- Promoted
- Investor
- Variable
- 40% min deposit
- Interest Only
6.99%
7.01%
$3,531
Australian Credit Licence 395219
Fees & charges apply
- Promoted
- Investor
- Variable
- 30% min deposit
- P&I
7.49%
7.51%
$3,692
Australian Credit Licence 395219
Fees & charges apply
- Promoted
- Investor
- Variable
- 20% min deposit
- P&I
7.46%
7.27%
$3,108
Australian Credit Licence 230686
Fees & charges apply
Tailored Home Loan
- Owner Occupied
- Variable
- 10% min deposit
- Interest Only
Product database updated 04 Feb, 2025
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Promoted home loans
Variable Rate Home Loan LVR < 80%
Real Time Rating™
- 2024 Award Winner
- Special
- Owner Occupied
- Variable
Interest rate p.a.
5.99%
Comparison rate* p.a.
5.90%
Australian Credit Licence 234945
Fees & charges apply
Neat Home Loan
Real Time Rating™
- Special
- Owner Occupied
- Variable
- 40% min deposit
Interest rate p.a.
6.09%
Comparison rate* p.a.
6.11%
Australian Credit Licence 230686
Fees & charges apply
Variable Home Loan
Real Time Rating™
- Cashback
- Owner Occupied
- Variable
- 20% min deposit
Interest rate p.a.
6.09%
Comparison rate* p.a.
6.10%
Australian Credit Licence 234527
Fees & charges apply
Variable Home Loan
Real Time Rating™
- Owner Occupied
- Variable
- 10% min deposit
- P&I
Interest rate p.a.
6.04%
Comparison rate* p.a.
6.08%
Australian Credit Licence 395219
Fees & charges apply
Product data updated on 4 Feb 2025
