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.
Westpac is passing the February 2025 cash rate cut on to borrowers.
From 4 March variable rate home loans will dropped by 25 basis points.
From that date the lowest variable rate loan the Westpac offers will be 6.19%.
Westpac is one of Australia's Big Four banks. Westpac has home loans for investors and owner-occupiers, including fixed and variable rates and home loan packages. Check out the full table of Westpac products below or read more about the lender and its loans.
Compare Westpac home loans
Hit the "Load more" button to compare a bigger selection of products. You can also find more information on each individual product by clicking "more info".
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How we picked these
Westpac key facts
Westpac is one of Australia's biggest lenders and has a large range of home loan products. This includes package home loans with lots of extra features and simpler loans with just the basics.
The lender has a nationwide network of physical branches plus phone support and online support.
You can get some Westpac home loans with a deposit as low as 5%.
Beyond mortgages, Westpac also offers savings accounts, transaction accounts and term deposits.
Westpac's package home loans offer discounted mortgage rates, offset accounts and fee waivers on the loan and a credit card.
How do I apply for a Westpac 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
Each Westpac product has specific eligibility criteria but some will apply to all products. For example:
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 Westpac you are required 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 can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 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).
Mortgage brokers. Still confused? Get free, expert guidance from a qualified mortgage broker.
More home loan questions
To make sure you find the right Westpac loan you need a clear idea of what you're looking for in a mortgage. These simple questions can help:
Do you want help from an actual person? Because Westpac has a large network of branches, you can talk to staff in person when you need home loan help. This is something online lenders and smaller banks may not be be able offer.
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. Westpac 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 entirely?
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.
Westpac offers pre-approval and you can apply online or request a callback from a Westpac lending specialist.
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.
Pre-aproval is not something every lender offers, but many do.
Most Australian borrowers bank with one of the Big Four (Commbank, Westpac, NAB and ANZ). They have physical branches and ATMs in the most locations and strong customer support. These are big advantages.
But if you're worried that smaller lenders are unsafe or less reliable, you probably shouldn't. In Australia, most lenders are authorised deposit-taking institutions (ADIs) and are regulated by the Australian Prudential Regulation Authority (APRA). Almost every lender has a banking license or partners with a bank.
There's an assumption that interest rates from the Big Four are less competitive than smaller lenders. And while this is broadly true, the gap has shrunk dramatically in recent years. You can get a very good deal from lenders large and small.
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.
All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.
10 of 70 reviews
★★★★★ (NSW) 1 year ago
Via customer survey commissioned by Finder
★★★★★Kp (VIC) 1 year ago
Via customer survey commissioned by Finder
Easy process for loan sign up to settlement.
★★★★★AK (VIC) 1 year ago
Via customer survey commissioned by Finder
★★★★★ (WA) 1 year ago
Via customer survey commissioned by Finder
★★★★★PC Man (NSW) 1 year ago
Via customer survey commissioned by Finder
it is just OK
★★★★★Robert Gilmour (QLD) 1 year ago
Via customer survey commissioned by Finder
Noting the amount of profit they made, I think they should reduce Interest rates
★★★★★Vanessa (QLD) 1 year ago
Via customer survey commissioned by Finder
Interest too high
★★★★★Philip of Barton (ACT) 1 year ago
Via customer survey commissioned by Finder
Quite inflexible in terms of doing what I as the customer want. Interest rates excessive.
★★★★★ (TAS) 1 year ago
Via customer survey commissioned by Finder
★★★★★Luki2121 (SA) 1 year ago
Via customer survey commissioned by Finder
Westpac are easy to deal with and understand my situation.
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:
Hi, Do you do the DHOAS scheme through Westpac for current serving members?
Finder
ShirleyAugust 16, 2013Finder
Hi Dan,
Thanks for your comment.
Westpac Banking Corporation provides the DSH home loan, but there some conditions. You should discuss this first with Westpac before committing to anything.
Home loan cashback deals can help you refinance to a cheaper interest rate and get a lump sum cash payment. Compare the latest deals and check your eligibility today.
What is an offset account? It can save you thousands in interest and help you own your home sooner.
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Hi, Do you do the DHOAS scheme through Westpac for current serving members?
Hi Dan,
Thanks for your comment.
Westpac Banking Corporation provides the DSH home loan, but there some conditions. You should discuss this first with Westpac before committing to anything.
Hope this helps,
Shirley