These home loans offer low costs, coupled with a host of features, giving the best overall value.
7+
Great
These home loans may have slightly higher interest rates or fewer features but overall, a competitive offering.
5+
Standard
Usually the home loans would offer above average rates. They may still include some competitive features.
0+
Basic
Higher costs and/or fewer features.
Unloan is passing the February 2025 cash rate cut on to borrowers.
From 21 February variable rate home loans dropped by 25 basis points.
From that date the lowest variable rate loan the Unloan offers will be 5.74%.
Unloan is an online Australian lender which promises fast digital mortgage applications. As well as not charging any fees, it discounts your rate by 0.01% each year. And it's owned by Australia's largest bank.
Compare Unloan home loans for March 2025
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Unloan offers variable rate loans for investors and owner-occupiers. It does not offer fixed rate loans or loans with interest-only repayments.
Rate reductions
Unloan will discount your interest rate periodically as you repay the loan, helping you get out of debt faster. Every year you have the loan, Unloan will drop your rate by 0.01%.
How do I apply for an Unloan mortgage?
When applying for any home loan, you will need various documents to establish your identity, your financial situation, employment status and details about the property.
Eligibility
When applying for an Unloan home loan, a borrower should generally meet the following criteria:
Age. You must be over 18 years of age.
Residency. You should be a resident of Australia.
Employment. You should have a regular source of income.
Documents required
When you apply for a mortgage with Unloan you may need to provide certain information so make sure you have all your documents ready before you apply. The documents you will be expected to provide are:
Property details. You will need the address of the existing property you are refinancing or the new property you are purchasing.
Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
Proof of income documents. Recent payslips can establish your income.
Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
If you want to compare loans from similar lenders to Unloan then you can start with these online lenders. They all have competitive rates and may be a better match for your needs:
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
More home loan questions
To make sure you find the right Unloan loan you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
Are you comfortable applying online or by phone? Because Unloan is an online lender you need to be comfortable completing the home loan process via the web.
What do you need the loan for? If you're buying a home to live in you need an owner-occupier loan. Property investors need an investment loan rate. Unloan has both.
Fixed or variable? Do you want the flexibility of a variable rate loan that could rise or fall at any time? Or are you happy to lock in a fixed rate for a certain period so you can forget about rate changes altogether?
What features do you need? You need to decide whether you need features like a 100% offset account, the ability to make extra repayments and the option to split your rate.
Home loan pre-approval is an optional step in the application process that some lenders offer. Pre-approval means a lender has examined your savings, income and spending habits and has a rough idea of how much it could lend you. It's not the same as full loan approval and it's no guarantee that the lender will ultimately approve a full application. But it does allow borrowers to start looking for a home with more confidence and a clearer idea of their borrowing power.
Most Australian borrowers bank with one of the Big Four banks (Commbank, ANZ, Westpac and NAB). You might have some concerns about getting a loan from a smaller lender you've never heard of. But there's no reason to worry just because you've never heard of a lender before.
In Australia, banks and lenders are regulated by the Australian Prudential Regulation Authority (APRA) or the Australian Securities & Investments Commission (ASIC) and must comply with the National Consumer Credit Protection Act.
Deciding between a fixed or variable rate depends on what you want from the loan. A variable rate loan can change at any time, either up or down. A variable rate usually offers more flexibility in how fast you can repay the loan and the cost of refinancing.
A fixed rate loan offers total certainty about your rate, for the fixed period. This means it won't rise, costing you more. But if your lender starts lowering rates you won't benefit either. Refinancing a fixed rate loan means breaking the loan, because you've agreed to a specific rate. This means you may have to pay a fixed rate break fee.
Mortgage brokers are home loan professionals who can help you find a suitable loan. A broker typically charges you no fee, because they receive a commission from your lender. Brokers are great if you are short on time or find the whole process of researching and applying for a home loan confusing. But you can definitely do it yourself and find a good loan. You may even find a better deal. That's because brokers don't compare loans from every lender in the market. They have access to a panel of loans and often don't have smaller online lenders in their panel.
What is Finder Score?
The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.
Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Graduate Certificate in Communications from Deakin University. See full bio
Richard's expertise
Richard has written 596 Finder guides across topics including:
A review of Unloan's variable home loan. Learn more about this home loan product.
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