Single Income Home Loan

How we calculate Home Loan Finder Scores

Read full methodology

What different scores mean

9+

Excellent

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.

Getting approved for a home loan on a single income is definitely an option, though your success depends on how much you earn and your current cost of living. You'll need to carefully work out how much you can borrow and repay comfortably and make sure that your spending is under control before you apply.

Follow our tips below and you'll find yourself in a much better position.

Work out your borrowing power

Your chances of approval depend in large part on how much money you want to borrow. From a lender's point of view, a realistic borrowing amount takes into things like:

• Your income - generally, banks want to see you spend no more than 30% of your income on a home loan
• Your expenses - lenders will look through your bank statements carefully to see how you spend
• Your deposit size - the bigger your deposit, the more likely it will be that a bank will approve your loan
• The value of the property you're buying - the property value needs to be in line with your income

Use a borrowing power calculator to estimate how much a lender will give you.

Save a 20% home loan deposit

The bigger the home loan deposit you can save, the easier the home loan approval process becomes. If you had a 60% deposit, lenders wouldn't think twice about lending to a borrower on a single income. Of course, that's not very realistic for the average borrower.

Saving a 20% deposit, however, is more realistic and a good way to strengthen your application as a single income applicant. It's not essential, as low deposit home loans are available for borrowers with deposits as low as 5%. But approval does get a lot harder, especially on a single income.

Check out our complete deposit saving guide

Get your debt and spending under control

In the months leading up to submitting your home loan application, get your spending under control. Review how much you're spending each month, identify areas where you can cut back (if any), set a budget and stick to it. This will make your lender happy and makes you a more reliable borrower, whether you're on a single income or not.

If you have urgent debts, such as personal loan or credit card debt, you should focus on paying them down before anything else. These debts will weigh against you in any mortgage application.

Read Finder's expert money saving tips

Choose your property carefully

The property you wish to buy is your lender's security in the event you can't repay your loan. It minimises the lender's risk because they can take the property (in a worst case scenario).

This means your lender cares about the property you're buying. Your lender will have the property valued to make sure you're not paying too much for the property. And if the property is in a poor condition or in an undesirable location the lender may reject your application or limit how much they can lend you.

Some lenders also have postcode restrictions for apartments, meaning they are more cautious about lending to people buying apartments in areas with a high saturation of such buildings.

Check what help is available

You might be buying a property on one income but you're not alone. There may be help available in the form of government grants and concessions.

Depending on your circumstances you may be able to get help from your family in the form of a guarantee.

• First home owner grants. If you're a first home buyer you may qualify for a first home owner grant in your state or territory. You can even use the grant to form part of your deposit.
• Stamp duty concessions. Also for first home buyers, you may qualify for a stamp duty concession. This could reduce your stamp duty costs significantly.
• Parental guarantor. If you have parents who own their own property and are willing to help, they could guarantee part of your deposit. They don't have to pay anything, but they agree to pay some of the mortgage if you can't. This makes your application stronger and means you can potentially buy a property with a smaller deposit while on one income. It's not without risks and it's not an option for everyone though.

Speak to a mortgage broker

Before applying anywhere as a single income home loan applicant, consider speaking to a mortgage broker.

Brokers are experts at helping borrowers find home loans they can qualify for and then guiding them through the application process. If you don't feel confident and want some help with the process a broker is a good starting point.

They might even be able to help you boost your borrowing capacity and get a slightly larger home loan.

Need a competitive home loan? Compare your options

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Finder Score (low-high)Finder Score (high-low)Interest Rate p.a. (low-high)Interest Rate p.a. (high-low)Comparison Rate p.a. (low-high)Comparison Rate p.a. (high-low)Monthly Payment (low-high)Monthly Payment (high-low)

Name	Finder Score	Interest Rate p.a.	Comparison Rate p.a.	Fees	Monthly Payment
Promoted Promoted Unloan Variable Home Loan Principal & Interest20% min. depositOwner-occupier Unloan Variable Home Loan Principal & Interest20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Unloan Variable Home Loan Interest Rate Type variable Repayment Type Principal & Interest Interest Rate p.a. 5.74% Comp. Rate p.a. 5.65% Minimum Loan Amount $10,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $0 Pros A competitive variable rate home loan Automatic interest rate discount No lender fees Cons No offset account You can’t borrow more than 80% of the property value	Finder score 9.9 Excellent	Interest Rate 5.74%	Comparison Rate 5.65%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $876	Go to site Compare	This loan comes with no application fee, no ongoing fees and no exit fees. The best news? Borrowers get a 0.01% rate discount for every year they hold the loan.
Promoted Promoted People's Choice Credit Union Basic Variable Principal & Interest30% min. depositOwner-occupierNT, VIC & SA only People's Choice Credit Union Basic Variable Principal & Interest30% min. depositOwner-occupierNT, VIC & SA only Go to site Details Fees Pros & cons Product Name People's Choice Credit Union Basic Variable Interest Rate Type Variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.64% Comp. Rate p.a. 5.65% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 70% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee At Cost Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $350 Pros No application fee No maximum loan amount Extra repayments and redraw available Cons No offset account available 30% deposit needed Only available in Northern Territory, Victoria and South Australia	Finder score 9.4 Excellent	Interest Rate 5.64%	Comparison Rate 5.65%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $866	Go to site Compare	A low cost home loan for borrowers who want minimal fees and the ability to make unlimited extra repayments to pay off the loan early.
Promoted Promoted loans.com.au Variable Home Loan Principal & Interest10% min. depositOwner-occupierOffset account loans.com.au Variable Home Loan Principal & Interest10% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name loans.com.au Variable Home Loan Interest Rate Type Variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.79% Comp. Rate p.a. 5.83% Minimum Loan Amount $50,000 Maximum Loan Amount $2,000,000 Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $230 Ongoing Fees $0 p.a. Settlement Fee $300 Discharge Fee $0 Pros A competitive variable rate home loan Optional offset account No application fee You can apply online Cons Offset account comes with 0.10% rate	Finder score 9.5 Excellent	Interest Rate 5.79%	Comparison Rate 5.83%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $881	Go to site Compare	A low cost home loan with no ongoing fees, plus access to an offset account - and you only need a 10% deposit to benefit.
Unloan Variable Home Loan Principal & Interest20% min. depositOwner-occupier Unloan Variable Home Loan Principal & Interest20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name Unloan Variable Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.74% Comp. Rate p.a. 5.65% Minimum Loan Amount $10,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $0 Pros A competitive variable rate home loan Automatic interest rate discount No lender fees Cons No offset account You can’t borrow more than 80% of the property value	Finder score 9.9 Excellent	Interest Rate 5.74%	Comparison Rate 5.65%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $876	Go to site Compare
Unloan Variable Home Loan Principal & Interest20% min. depositInvestment Unloan Variable Home Loan Principal & Interest20% min. depositInvestment Go to site Details Fees Pros & cons Product Name Unloan Variable Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.04% Comp. Rate p.a. 5.95% Minimum Loan Amount $10,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $0 Pros A competitive variable rate home loan Automatic interest rate discount No lender fees Cons No offset account You can’t borrow more than 80% of the property value	Finder score 9.7 Excellent	Interest Rate 6.04%	Comparison Rate 5.95%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $905	Go to site Compare
G&C Mutual Bank Momentum Home Loan Principal & Interest40% min. depositOwner-occupierOffset account G&C Mutual Bank Momentum Home Loan Principal & Interest40% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name G&C Mutual Bank Momentum Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.74% Comp. Rate p.a. 5.79% Minimum Loan Amount $100,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility No Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee At cost Valuation Fee At cost Ongoing Fees $0 p.a. Settlement Fee At cost Discharge Fee $300 Pros 100% offset account Low fees There is a $0 redraw fee Cons The lowest rates require up to 50% equity	Finder score 9.6 Excellent	Interest Rate 5.74%	Comparison Rate 5.79%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $876	Go to site Compare
G&C Mutual Bank First Home Buyer Principal & Interest5% min. depositOwner-occupierOffset account G&C Mutual Bank First Home Buyer Principal & Interest5% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name G&C Mutual Bank First Home Buyer Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.74% Comp. Rate p.a. 5.79% Minimum Loan Amount $0 Maximum Loan Amount $5,000,000 Maximum Loan Term 40 years Maximum LVR 95% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee At cost Valuation Fee At cost Ongoing Fees $0 p.a. Settlement Fee At cost Discharge Fee $300 Pros With LMI you can take out this loan with as little as a 5% deposit There are no establishment or ongoing fees You can make unlimited extra repayments and redraw the funds Cons This product is only available if you’re a first home buyer If you’d prefer to deal with a lender in person, G&C Mutual Bank only has 6 service centres in NSW and 1 in Melbourne	Finder score 9.6 Excellent	Interest Rate 5.74%	Comparison Rate 5.79%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $876	Go to site Compare
loans.com.au Solar Home Loan Principal & Interest10% min. depositOwner-occupierOffset account loans.com.au Solar Home Loan Principal & Interest10% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name loans.com.au Solar Home Loan Interest Rate Type Variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.74% Comp. Rate p.a. 6.19% Minimum Loan Amount $50,000 Maximum Loan Amount $1,500,000 Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $230 Ongoing Fees $0 p.a. Settlement Fee $300 Discharge Fee $300 Pros Available for both owner-occupiers and investors No application or ongoing fees Extra repayments available Cons Minimum loan term of 15 years Late payment fee of $150 Have to pay an extra 0.10% p.a. if you want to add an offset account	Finder score 9.6 Excellent	Interest Rate 5.74%	Comparison Rate 6.19%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $876	Go to site Compare
loans.com.au Solar Home Loan Principal & Interest10% min. depositInvestmentOffset account loans.com.au Solar Home Loan Principal & Interest10% min. depositInvestmentOffset account Go to site Details Fees Pros & cons Product Name loans.com.au Solar Home Loan Interest Rate Type Variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.94% Comp. Rate p.a. 6.28% Minimum Loan Amount $50,000 Maximum Loan Amount $1,500,000 Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $230 Ongoing Fees $0 p.a. Settlement Fee $300 Discharge Fee $300 Pros Available for both owner-occupiers and investors No application or ongoing fees Extra repayments available Cons Minimum loan term of 15 years Late payment fee of $150 Have to pay an extra 0.10% p.a. if you want to add an offset account	Finder score 9.5 Excellent	Interest Rate 5.94%	Comparison Rate 6.28%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $895	Go to site Compare	A low cost home loan with no ongoing fees, plus access to an offset account - and you only need a 10% deposit to benefit.
Greater Bank Great Rate Discount Variable Home Loan Principal & Interest-10% min. depositOwner-occupierNSW, QLD & ACT only Greater Bank Great Rate Discount Variable Home Loan Principal & Interest-10% min. depositOwner-occupierNSW, QLD & ACT only Go to site Details Fees Pros & cons Product Name Greater Bank Great Rate Discount Variable Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.84% Comp. Rate p.a. 5.85% Minimum Loan Amount $150,000 Maximum Loan Amount N/A Maximum Loan Term Maximum LVR 110% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $180 Discharge Fee $300 Pros $0 application fee LVR of up to 110% with guarantor Cons Requires a family guarantee Not suitable for all borrowers	Finder score 9.4 Excellent	Interest Rate 5.84%	Comparison Rate 5.85%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $885	Go to site Compare	Up to $2,500 cashback Eligible refinancers can get up to $2,500 cashback depending on loan value. Full terms and conditions apply.
ANZ Plus Home Loan Variable Rate Principal & Interest20% min. depositOwner-occupierOffset account ANZ Plus Home Loan Variable Rate Principal & Interest20% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name ANZ Plus Home Loan Variable Rate Interest Rate Type Variable Repayment Type Principal & Interest Interest Rate p.a. 5.84% Comp. Rate p.a. 5.85% Minimum Loan Amount $10,000 Maximum Loan Amount $2,000,000 Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility No Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $350 Pros This loan comes with a 100% offset account There’s no application fee for this loan Track your loan repayments and progress with the app Cons This loan (and cash back offer) is only available for refinancers earning a PAYG income. You cannot use ANZ branches or ANZ Internet Banking to apply for or manage an ANZ Plus home loan. This loan is not available for borrowers in Tasmania and the Northern Territory.	Finder score 9.4 Excellent	Interest Rate 5.84%	Comparison Rate 5.85%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $885	Go to site Compare	$2,000 cashback Borrowers refinancing home loans of $250k or more to ANZ Plus could get a cashback of $2,000. Excludes refinancing from ANZ or Suncorp. Other exclusions and terms and conditions apply. See provider website for full details.
loans.com.au Variable Home Loan Principal & Interest10% min. depositInvestmentOffset account loans.com.au Variable Home Loan Principal & Interest10% min. depositInvestmentOffset account Go to site Details Fees Pros & cons Product Name loans.com.au Variable Home Loan Interest Rate Type Variable rate Repayment Type Principal & Interest Interest Rate p.a. 6.09% Comp. Rate p.a. 6.13% Minimum Loan Amount $50,000 Maximum Loan Amount $2,000,000 Maximum Loan Term 30 years Maximum LVR 90% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $230 Ongoing Fees $0 p.a. Settlement Fee $300 Discharge Fee $300 Pros A competitive variable rate home loan Optional offset account No application fee You can apply online Cons Offset account comes with 0.10% rate	Finder score 9.3 Excellent	Interest Rate 6.09%	Comparison Rate 6.13%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $909	Go to site Compare
First Option Bank Discounted Simple Home Loan Principal & Interest40% min. depositOwner-occupier First Option Bank Discounted Simple Home Loan Principal & Interest40% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name First Option Bank Discounted Simple Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.49% Comp. Rate p.a. 5.69% Minimum Loan Amount $300,000 Maximum Loan Amount $2,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee Lender covers up to $1,000 for legal and valuation fees (owner-occupiers only) Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $175 Pros You have the freedom to make extra repayments From those extra repayments can redraw for free at any time There are no application or ongoing fees Cons You can’t add an offset account to this home loan There are no branches, so if you need in-person support you have to use Australia Post’s over-the-counter service	Finder score 9.3 Excellent	Interest Rate 5.49%	Comparison Rate 5.69%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $852	Go to site Compare
First Option Bank Simple Home Loan Principal & Interest40% min. depositOwner-occupier First Option Bank Simple Home Loan Principal & Interest40% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name First Option Bank Simple Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.74% Comp. Rate p.a. 5.74% Minimum Loan Amount $150,000 Maximum Loan Amount $3,500,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee Lender covers up to $1,000 for legal and valuation fees (owner-occupiers only) Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $175 Pros Competitive rates Low fees Cons No offset account Best rates require a large deposit	Finder score 9.3 Excellent	Interest Rate 5.74%	Comparison Rate 5.74%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $876	Go to site Compare
First Option Bank Discounted Simple Home Loan Principal & Interest40% min. depositInvestment First Option Bank Discounted Simple Home Loan Principal & Interest40% min. depositInvestment Go to site Details Fees Pros & cons Product Name First Option Bank Discounted Simple Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.74% Comp. Rate p.a. 5.97% Minimum Loan Amount $300,000 Maximum Loan Amount $2,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account No Split Loan Facility No Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee Lender covers up to $1,000 for legal and valuation fees (owner-occupiers only) Ongoing Fees $0 p.a. Settlement Fee $0 Discharge Fee $175 Pros You have the freedom to make extra repayments From those extra repayments can redraw for free at any time There are no application or ongoing fees Cons You can’t add an offset account to this home loan There are no branches, so if you need in-person support you have to use Australia Post’s over-the-counter service	Finder score 9.3 Excellent	Interest Rate 5.74%	Comparison Rate 5.97%	Fees Application: $0 Ongoing: $0 p.a.	Monthly Payment $876	Go to site Compare
IMB Budget Home Loan Principal & Interest20% min. depositOwner-occupier IMB Budget Home Loan Principal & Interest20% min. depositOwner-occupier Go to site Details Fees Pros & cons Product Name IMB Budget Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.79% Comp. Rate p.a. 5.82% Minimum Loan Amount $10,000 Maximum Loan Amount N/A Maximum Loan Term 30 years Maximum LVR 80% Loan Redraw Facility Yes Offset Account No Split Loan Facility Yes Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $449 Lender's Legal Fee $0 Valuation Fee At cost Ongoing Fees $0 p.a. Settlement Fee $350 Discharge Fee $350 Pros This loan allows for unlimited extra repayments There are no monthly fees with this loan Eligible borrowers can take this loan out with up to 95% LVR Cons This loan does not come with an offset account You will not be eligible for the full $4,000 cashback if you refinance less than $1million There is an application fee of $449	Finder score 9.3 Excellent	Interest Rate 5.79%	Comparison Rate 5.82%	Fees Application: $449 Ongoing: $0 p.a.	Monthly Payment $881	Go to site Compare	Up to $4K cashback Eligible borrowers can get up to $4,000 cashback when buying or refinancing with IMB. Loan value criteria applies. Other terms and conditions also apply.
Macquarie Bank Offset Home Loan Package Principal & Interest30% min. depositOwner-occupierOffset account Macquarie Bank Offset Home Loan Package Principal & Interest30% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name Macquarie Bank Offset Home Loan Package Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.89% Comp. Rate p.a. 6.14% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 70% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee at cost above $300 Ongoing Fees $248 p.a. Settlement Fee $350 Discharge Fee $400 Pros 100% offset account Interest only options Cons Annual fee of $248	Finder score 9.3 Excellent	Interest Rate 5.89%	Comparison Rate 6.14%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $890	Go to site Compare
Macquarie Bank Offset Home Loan Package Principal & Interest40% min. depositOwner-occupierOffset account Macquarie Bank Offset Home Loan Package Principal & Interest40% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name Macquarie Bank Offset Home Loan Package Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.89% Comp. Rate p.a. 6.14% Minimum Loan Amount $150,000 Maximum Loan Amount $10,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility Yes Fixed Interest Option Yes Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee $0 Ongoing Fees $248 p.a. Settlement Fee $350 Discharge Fee $400 Pros 100% offset account Interest only options Cons Annual fee of $248	Finder score 9.3 Excellent	Interest Rate 5.89%	Comparison Rate 6.14%	Fees Application: $0 Ongoing: $248 p.a.	Monthly Payment $890	Go to site Compare
First Option Bank Discounted Complete Package Home Loan Principal & Interest40% min. depositOwner-occupierOffset account First Option Bank Discounted Complete Package Home Loan Principal & Interest40% min. depositOwner-occupierOffset account Go to site Details Fees Pros & cons Product Name First Option Bank Discounted Complete Package Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.64% Comp. Rate p.a. 6.19% Minimum Loan Amount $300,000 Maximum Loan Amount $2,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility No Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee We cover up to $1,000 towards legal and valuation fees for owner-occupied mortgage loans. Ongoing Fees $375 p.a. Settlement Fee $0 Discharge Fee $175 Pros This home loan comes with a 100% offset account to save you money You can also make extra repayments and redraw for free at any time There’s no application fee for this loan Cons This loan package comes with a $375 annual fee There are no branches, so if you need in-person support you have to use Australia Post’s over-the-counter service	Finder score 9.3 Excellent	Interest Rate 5.64%	Comparison Rate 6.19%	Fees Application: $0 Ongoing: $375 p.a.	Monthly Payment $866	Go to site Compare
First Option Bank Discounted Complete Package Home Loan Principal & Interest40% min. depositInvestmentOffset account First Option Bank Discounted Complete Package Home Loan Principal & Interest40% min. depositInvestmentOffset account Go to site Details Fees Pros & cons Product Name First Option Bank Discounted Complete Package Home Loan Interest Rate Type variable rate Repayment Type Principal & Interest Interest Rate p.a. 5.89% Comp. Rate p.a. 6.47% Minimum Loan Amount $300,000 Maximum Loan Amount $2,000,000 Maximum Loan Term 30 years Maximum LVR 60% Loan Redraw Facility Yes Offset Account Yes Split Loan Facility No Fixed Interest Option No Loan Portable Extra Repayments Yes Application Fee $0 Lender's Legal Fee $0 Valuation Fee We cover up to $1,000 towards legal and valuation fees for owner-occupied mortgage loans. Ongoing Fees $375 p.a. Settlement Fee $0 Discharge Fee $175 Pros This home loan comes with a 100% offset account to save you money You can also make extra repayments and redraw for free at any time There’s no application fee for this loan Cons This loan package comes with a $375 annual fee There are no branches, so if you need in-person support you have to use Australia Post’s over-the-counter service	Finder score 9.3 Excellent	Interest Rate 5.89%	Comparison Rate 6.47%	Fees Application: $0 Ongoing: $375 p.a.	Monthly Payment $890	Go to site Compare

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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.

Read the full Finder Score breakdown

Written by

Richard Whitten

Money Editor

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 603 Finder guides across topics including:

• Home loans
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• Money-saving tips