Compare Mortgage House home loan rates, repayments, fees and features
Comparing home loans can help you understand the differences between interest rates, comparison rates, repayments, fees and loan features. Mortgage House is an Australian non-bank lender. We have helped Australians with home finance since 1986 by providing a genuine alternative to the major banks.
Use this page to compare selected Mortgage House home loans side by side. Review the available rates, key features and indicative costs before deciding whether to make an enquiry or apply. The lowest advertised interest rate will not always be the most suitable or lowest-cost option for your circumstances. Consider the total cost of the loan, its features, repayment structure, applicable fees and lending requirements.
How Mortgage House Compares With Selected Major Lenders
The following information compares selected Mortgage House products with publicly advertised variable home loan rates supplied for selected major lenders. This is not a whole-of-market comparison.
Rates offered by other lenders may relate to different:
- Loan-to-value ratios
- Loan purposes
- Repayment types
- Loan amounts
- Package arrangements
- Borrower profiles
- Property types
- Fees
- Discounts
- Ligibility requirements
Third-party rates should be confirmed directly with the relevant lender before you make a decision.
What Is a Home Loan Comparison Rate?
A comparison rate is a percentage figure intended to make it easier to compare the approximate cost of different home loans.
It generally combines:
- The advertised interest rate
- Most compulsory fees and charges associated with the loan
The comparison rate is different from the advertised interest rate.
The advertised interest rate is the rate used to calculate interest on the outstanding loan balance. The comparison rate includes the interest rate and most compulsory fees using a standardised loan example.
A comparison rate may not include:
- Government fees and charges
- Costs that apply only in particular circumstances
- Optional account or loan features
- Fixed-rate break costs
- Late payment charges
- Redraw fees
- Variation fees
- Lenders mortgage insurance
Comparison-rate warning
WARNING: The comparison rate is true only for the example used to calculate it and may not include all fees and charges. Different loan amounts, loan terms, fees, repayment arrangements or other circumstances may result in a different comparison rate. Review the full product terms, fees and comparison-rate assumptions before making a decision.
Why Compare Home Loans?
A home loan is a long-term financial commitment. Even a relatively small difference in the interest rate, fees or loan structure can affect the amount you repay over time. Comparing home loans can help you:
- Identify potentially lower interest rates
- Understand the total cost of a loan
- Compare upfront and ongoing fees
- Assess repayment flexibility
- Determine whether an offset account is available
- Understand redraw conditions
- Compare fixed and variable-rate options
- Assess the effect of different loan terms
- Identify lending conditions that may affect your eligibility
The right loan is not simply the loan with the lowest advertised rate. It should also provide an appropriate combination of affordability, flexibility, features and costs for your circumstances.
What Should You Compare in a Home Loan?
Interest Rate
The interest rate is the percentage charged by the lender on the outstanding loan balance.
A lower interest rate may reduce repayments and total interest, but the rate should be considered together with fees, features and lending conditions.
Comparison Rate
The comparison rate combines the interest rate and most compulsory fees using a standard loan example.
It can assist with an initial comparison but may not reflect the actual cost of your loan.
Indicative Repayment
An indicative repayment is an estimate of the amount you may need to pay at each repayment interval. Your actual repayment will depend on:
- The loan amount
- Interest rate
- Repayment type
- Loan term
- Repayment frequency
- Fees
- Any subsequent changes to the rate or loan
Application Fee
An application fee is a one-off fee that may be payable when establishing a loan. It may also be described as an establishment, upfront or set-up fee.
Ongoing Fees
Ongoing fees may be charged monthly or annually for operating or administering the loan or an associated package.
Loan Term
The loan term is the agreed period over which the loan is scheduled to be repaid. A shorter loan term generally results in higher repayments but lower total interest.
A longer loan term generally results in lower repayments but higher total interest.
Loan Features
Common home loan features include:
- Offset accounts
- Redraw facilities
- Additional repayments
- Split-loan arrangements
- Repayment frequency options
- Interest-only periods
- Line-of-credit facilities
Some features may involve additional fees or eligibility requirements.
Choose Your Repayment Type
Principal and interest repayments
With principal-and-interest repayments, each scheduled repayment generally pays:
- Part of the amount borrowed
- Interest charged on the outstanding balance
Provided repayments are made as required, the principal balance reduces over the agreed loan term. Principal-and-interest repayments will generally be higher during an equivalent period than interest-only repayments, but the loan principal is progressively reduced.
Interest-only repayments
During an approved interest-only period, scheduled repayments generally cover the interest charged without reducing the principal. Interest-only repayments may initially be lower, but:
- The amount borrowed does not reduce through scheduled repayments during the interest-only period
- The applicable interest rate may be higher
- Total interest over the life of the loan may be greater
- Repayments will generally increase when the interest-only period ends
- Additional eligibility and credit requirements may apply
Interest-only lending is not suitable for every borrower and remains subject to Mortgage House’s lending criteria and responsible lending assessment.
Compare Variable, Fixed and Split Home Loans
Variable-rate home loan
A variable home loan interest rate may increase or decrease during the loan term.
Potential Benefits
- Greater repayment flexibility
- Ability to benefit if the variable rate decreases
- Additional repayments may be available
- Redraw may be available
- Anoffset account may be available
- It may be easier to change or refinance the loan
Potential Considerations
- Repayments may increase
- Household budgeting may be less predictable
- Products with additional features may carry higher fees
- The rate can change independently of the Reserve Bank cash rate
Fixed-rate home loan
A fixed home loan interest rate remains unchanged for an agreed fixed-rate period.
Potential Benefits
- Greater repayment certainty during the fixed period
- Easier budgeting
- Protection against variable-rate increases during the fixed period
Potential Considerations
- Additional repayments may be limited
- Offset or redraw may be limited or unavailable
- Break costs may apply if the loan is repaid, refinanced or changed early
- You may not benefit if variable rates decrease
- The loan will generally revert to an applicable variable rate at the end of the fixed period
The rate applying at the end of the fixed period may be different from the rate available when the loan was first established.
Split home loan
A split home loan divides the borrowing between two or more loan accounts, commonly:
- a fixed-rate portion
- a variable-rate portion.
A split structure may provide a combination of repayment certainty and variable-rate flexibility. Each loan split may have separate:
- Interest rates
- Repayments
- Fees
- Conditions
- Account numbers
- Features
Consider whether the additional complexity and any applicable fees are appropriate for your circumstances.
Compare Home Loan Features
Offset Account
An offset account is a transaction account linked to an eligible home loan. The balance held in the offset account may reduce the loan balance used to calculate interest. For example, if:
- Your home loan balance is $500,000
- Your eligible 100% offset account balance is $20,000,
Interest may be calculated on a net balance of $480,000, subject to the applicable terms and conditions.
An offset account may be less beneficial where:
- The expected balance will remain low
- Account or package fees are high
- A lower-rate basic loan without an offset would cost less overall.
Confirm whether the account provides a full or partial offset and review all associated fees.
Redraw Facility
A redraw facility may allow you to access eligible additional repayments previously made to your home loan. Redraw availability may be subject to:
- Minimum redraw amounts
- Daily transaction limits
- Processing times
- Account access conditions
- Fees
- Product restrictions
- Lender approval
When you redraw additional repayments, the amount owed increases and interest will be calculated on the higher outstanding balance. Redrawing funds may increase the time and total interest required to repay the loan.
Additional Repayments
Additional repayments may help reduce the outstanding balance, total interest and effective repayment period. Additional repayment limits may apply to fixed-rate loans. Break costs or other charges may apply if a permitted repayment threshold is exceeded during a fixed-rate period.
Line-Of-Credit Facility
A line-of-credit facility provides access to funds up to an approved credit limit. Interest is generally charged on the amount drawn rather than the total approved limit. A line of credit can provide flexibility but requires disciplined financial management. Fees, repayment requirements and lending conditions apply.
Compare Home Loan Fees
A low interest rate does not necessarily mean a low total cost. Before selecting a loan, review all fees that may apply, including:
- Application or establishment fee
- Valuation fee
- Settlement fee
- Annual facility fee
- Package fee
- Monthly account fee
- Offset-account fee
- Redraw fee
- Variation fee
- Fixed-rate lock fee
- Fixed-rate break cost
- Discharge fee
- Lenders mortgage insurance
- Risk fee
- Legal costs
- Government registration fees
- Other charges that may apply to your circumstances
Ask for a written quote or fee schedule before proceeding.
Choose a Realistic Home Loan Term
Your loan term affects both your repayments and the total amount of interest you may pay.
Shorter loan term
A shorter loan term will generally result in:
- Higher scheduled repayments
- Lower total interest, provided the rate and other assumptions remain the same
Longer loan term
A longer loan term will generally result in:
- Lower scheduled repayments
- Higher total interest
Consider whether repayments would remain manageable if:
- Interest rates increased
- Household expenses increased
- Your income reduced
- Your employment circumstances changed
- Interest-only period ended
- Fixed-rate period expired
- Unexpected expenses arose
Mortgage House will apply its own serviceability assessment. A repayment-calculator result does not constitute loan approval.
Understand Your Loan-to-Value Ratio
Loan-to-value ratio, commonly called LVR, is the loan amount expressed as a percentage of the value accepted by the lender for the property offered as security.
For example:
- Proposed loan amount: $600,000
- Lender-accepted property value: $750,000
- LVR: 80%
The lender may use its own valuation rather than the purchase price or an estimate provided by the borrower.
Your LVR can affect:
- Available products
- Interest rates
- Deposit requirements
- Lenders mortgage insurance
- Risk fees
- Maximum loan amount
- Required documentation
- Credit approval conditions
A larger deposit or greater available equity may reduce your LVR.
What Is Lenders Mortgage Insurance?
Lenders mortgage insurance may be required for some higher-LVR home loans. It generally protects the lender if:
- The borrower defaults
- The secured property is sold
- The sale proceeds are insufficient to repay the outstanding debt and applicable costs
Although the borrower may be required to pay the premium, lenders mortgage insurance generally protects the lender rather than the borrower. The premium may be:
- Paid upfront
- Added to the loan where permitted
- Incorporated into another applicable risk charge
Availability, cost and insurer requirements depend on the loan and borrower circumstances.
Home Loans for Different Purposes
Buying your first home
First-home buyers should compare:
- Deposit requirements
- Genuine-savings requirements
- Available government schemes
- Stamp duty and other acquisition costs
- Lenders mortgage insurance
- Ongoing repayments
- Offset and redraw features
- Future affordability
Government scheme eligibility and benefits are subject to separate criteria and may change.
Refinancing a home loan
Refinancing may help you obtain:
- Lower interest rate
- Different loan features
- More suitable repayment structure
- Access to an offset account
- Debt consolidation
- Different lender relationship
Before refinancing, compare the potential savings with:
- Application fees
- Valuation fees
- Discharge fees
- Break costs
- Settlement costs
- Government charges
- Lenders mortgage insurance
- Any lost product benefits
- Effect of extending the remaining loan term
A lower repayment does not necessarily mean a lower total cost if the loan term is extended.
Buying an investment property
Investment home loans may have different:
- Interest rates
- Lending criteria
- Loan-to-value ratio limits
- Serviceability treatment
- Repayment options
- Fees
- Documentation requirement
Consider obtaining independent tax and financial advice before making an investment decision. Mortgage House does not provide tax advice through this page.
Building or renovating
Construction and renovation loans may involve:
- Progress payments
- Approved building contracts
- Valuations at construction stages
- Builder requirements
- Contingency funds
- Interest charged on amounts drawn
- Specific completion timeframes
Construction lending is subject to separate product and credit requirements.
Consolidating debt
Debt consolidation may combine eligible debts into a home loan. This may reduce the interest rate applying to some debts, but converting short-term debts into a long-term home loan can increase the total interest paid over time. Your home may also become security for debts that were previously unsecured. Consider:
- Total amount being refinanced
- New loan term
- Total interest over that term
- Establishment and discharge costs
- Whether credit facilities will be closed
- Whether the new repayment is sustainable
Debt consolidation is subject to responsible lending and Mortgage House credit assessment.
Benefits of Comparing Mortgage House Home Loans
Understand your options
View selected Mortgage House products and compare rates and key lending considerations in one place.
Compare more than the headline rate
Assess the comparison rate, potential fees, loan structure and features rather than relying only on the advertised interest rate.
Consider flexible features
Depending on the product, eligible features may include:
- Anoffset account
- Redraw
- Additional repayments
- Fixed and variable-rate splits
- Different repayment structures
Access experienced support
Mortgage House lending specialists can explain available loan products, application requirements and the next steps.
Apply through secure digital channels
Eligible customers can enquire or begin a home loan application online, subject to identity verification, privacy, security and credit-assessment requirements.
Why Choose Mortgage House?
Australian lending experience since 1986
Mortgage House has provided home finance solutions to Australians since 1986.
Australian non-bank lender
Mortgage House provides a genuine lending alternative to the major Australian banks.
Product options
Eligible borrowers may be able to choose between different:
- Interest rates
- LVR bands
- Repayment types
- Loan purposes
- Loan structures
- Features
Personal assistance
Our lending specialists can explain home loan options and application requirements in clear language.
Responsible lending assessment
Every application is subject to verification, lending criteria, serviceability assessment and approval. A lower advertised rate does not guarantee that a loan is suitable or available to a particular borrower.
Frequently Asked Questions
How do I compare home loans?
Compare the interest rate, comparison rate, indicative repayments, fees, loan term, repayment type, LVR requirements and features such as offset, redraw and additional repayments.
Also consider whether repayments would remain affordable if interest rates or living expenses increased.
Is the home loan with the lowest interest rate always the best loan?
No.
A home loan with a low advertised rate may have:
- Higher fees
- Fewer features
- Restrictive eligibility conditions
- Limited repayment flexibility
- Higher revert rate
- Conditions that do not suit your circumstances.
Consider the total cost and suitability of the loan rather than the headline rate alone.
What is the difference between an interest rate and a comparison rate?
The interest rate is used to calculate interest on the outstanding loan balance.
The comparison rate combines the interest rate and most compulsory fees using a standard loan example.
The comparison rate may not reflect the actual cost of your proposed loan because your loan amount, term, fees and circumstances may be different.
Does Mortgage House compare every home loan in Australia?
No.
Mortgage House is a direct lender. This page primarily compares selected Mortgage House home loan products.
Where selected major-lender rates are displayed, they are illustrative comparisons based on publicly advertised information as at the stated date. The page does not represent a whole-of-market comparison.
How much deposit do I need for a home loan?
The required deposit depends on:
- The product
- Property value
- Lender valuation
- Loan amount
- Loan purpose
- LVR
- Borrower circumstances
- Applicable lending criteria.
A larger deposit may reduce your LVR and may provide access to different rates or products. Higher-LVR loans may involve lenders mortgage insurance, risk fees or additional requirements.
What does LVR mean?
LVR means loan-to-value ratio.
It is calculated by dividing the loan amount by the value accepted by the lender for the property and expressing the result as a percentage.
For example, a $600,000 loan secured against a property valued by the lender at $750,000 has an LVR of 80%.
What is a variable home loan?
A variable home loan has an interest rate that may increase or decrease during the loan term.
Variable loans may provide greater flexibility, but repayments can increase if the rate rises.
What is a fixed home loan?
A fixed home loan has an interest rate that remains unchanged for an agreed fixed period.
Fixed rates can provide repayment certainty, but limits on additional repayments, redraw restrictions and break costs may apply.
What is a split home loan?
A split home loan divides your borrowing between two or more loan accounts, commonly a fixed-rate portion and a variable-rate portion.
Each portion may have different rates, repayments, conditions and features.
What is an offset account?
An offset account is an eligible transaction account linked to a home loan. The account balance may reduce the home loan balance on which interest is calculated.
Fees and product conditions may apply.
What is a redraw facility?
A redraw facility may allow you to access eligible additional repayments previously made to your loan.
Limits, fees, processing times and conditions may apply.
Redrawing funds will increase the amount on which interest is calculated.
Can I make additional home loan repayments?
Some Mortgage House home loans may permit additional repayments. Limits or break costs may apply, particularly to fixed-rate products.
Review the relevant product terms before relying on this feature.
How are home loan repayments calculated?
Home loan repayments are generally calculated using:
- Amount borrowed
- Applicable interest rate
- Repayment type
- Repayment frequency
- Remaining loan term
- Fees included in the repayment.
Calculator results are estimates only and may differ from the repayments determined during a formal application.
Does using a home loan calculator affect my credit score?
Using a general repayment calculator does not ordinarily require a credit enquiry.
A formal home loan application, pre-approval request or credit assessment may result in a credit enquiry.
Mortgage House will provide relevant information before undertaking a credit check.
Can I get conditional approval?
Conditional approval may be available to eligible applicants following an assessment of the information provided.
Conditional approval is not unconditional or final approval. It may remain subject to:
- Verification of income and expenses
- Identity verification
- Credit checks
- Property valuation
- Acceptable security
- Supporting documentation
- Loan conditions
- Final credit approval
Can Mortgage House help me choose a home loan?
A Mortgage House lending specialist can discuss your circumstances, explain available products and assist with your application.
Any loan outcome remains subject to verification, responsible lending obligations, Mortgage House credit policy and formal approval.
Home Loan Comparison Checklist
Before selecting a home loan, confirm that:
- Displayed rate is current
- Loan purpose matches your requirements
- Repayment type is appropriate
- Product supports your required LVR
- You understand the interest rate and comparison rate
- All upfront and ongoing fees have been identified
- Required offset or redraw features are available
- You understand any fixed-rate restrictions
- You understand any break costs
- The loan term is appropriate
- Repayments remain manageable under higher-rate scenarios
- You have reviewed the applicable terms and conditions
- You have reviewed the applicable Target Market Determination
- You understand that calculator results are estimates only
- You understand that approval is not guaranteed
Compare Your Home Loan Options
Review selected Mortgage House home loans, interest rates, comparison rates and key features.
Interest Rate
6.89
%
p.a
Comparison Rate^
6.93
%
p.a
Compare with major lenders variable rates as at 01 Aug 2026 Benefits
Interest Rate
5.89
%
p.a
Comparison Rate^
5.93
%
p.a
Compare with major lenders variable rates as at 01 Aug 2026 Benefits
Interest Rate
5.94
%
p.a
Comparison Rate^
5.98
%
p.a
Compare with major lenders variable rates as at 01 Aug 2026 Benefits
Lending criteria apply. Rates and fees subject to change without notice.
All comparisons based on current advertised rates and standard terms.
Calculate Your Indicative Repayments
Use the Mortgage House repayment calculator to estimate repayments for different loan amounts, interest rates and loan terms. Calculator results are estimates only and do not constitute a quote, pre-qualification or approval.
Important Disclaimer: Repayments are indicative only and based on equal installments for the selected frequency. Fortnightly = ½ monthly; weekly = ¼ monthly. Actual repayments may vary.
Discover the Advantages of the Mortgage House Compare Tool
More Money For You
Save thousands over the life of a loan by finding a loan that reduces your current monthly repayments.
Avoid Unexpected Costs
Compare loans to highlight different fees and charges across lenders, helping you avoid unexpected costs.
Flexible Loan Options
Find loans with flexible features tailored to your unique needs by comparing the various products we have available.
Informed Decision Making
Feel empowered to negotiate a better deal with lenders by arming yourself with the knowledge of current rates and features.
Apply for a Mortgage House Home Loan
Start your secure Mortgage House home loan application online. Your application will be subject to:
- Identity verification
- Supporting documentation
- Responsible lending assessment
- Lending criteria
- Credit checks
- Valuation requirements
- Formal approval
Speak With a Mortgage House Lending Specialist
Our lending specialists can help explain available products, application requirements and the home loan process.
Monday to Friday: 8:00 am to 6:00 pm
Saturday: Office unattended
Sunday: Office unattended
Our Success is Your Success
We continue to achieve industry recognition for excellence in customer service and low-rate loan products. When you come to Mortgage House, know that you are in the safest hands.
WeMoney
Best Low Deposit Home Loan of the Year Back to Back Winner 2023-2024 (2 years)
ProductReview.com.au
Home Loans – 2023 Winner
Money Magazine
Best-Value Basic Home Loan
(Non-Bank) 2022
RateCity
Best Variable Home Loan
for the Chameleon Executive Home Loan 2022
Why Choose Mortgage House?
Important Information
Mortgage House of Australia Pty Ltd
ABN 98 081 508 054
Australian Credit Licence 393283
Lending criteria apply. Approval is not guaranteed.
Interest rates, comparison rates, fees, charges, discounts, products and features are subject to change.
Product availability may depend on:
- Borrower circumstances
- Loan amount
- Loan purpose
- Repayment type
- Property type
- Property location
- Lender valuation
- Loan-to-value ratio
- Credit history
- Serviceability
- Mortgage House’s lending criteria
The information on this page is general information only. It has been prepared without considering your objectives, financial situation or needs.
Before acting on the information, consider whether it is appropriate for your circumstances. Review the applicable terms and conditions, fees and charges, Credit Guide and Target Market Determination.
Consider obtaining independent financial, legal or tax advice where appropriate.
Calculator information
Any calculator output or indicative repayment:
- Is an estimate only
- Depends on assumptions that may change
- Has been prepared without knowing your complete financial circumstances
- Does not constitute a quote
- Does not constitute pre-qualification
- Does not constitute conditional approval
- Does not constitute final approval
- May exclude fees, charges and future interest-rate changes
- May differ from Mortgage House’s formal assessment
Mortgage House may use a serviceability assessment rate that is higher than the current interest rate applying to the requested product.
Third-party comparison information
Third-party lender rates are based on publicly advertised information available as at the stated comparison date.
Mortgage House does not represent that:
- Every lender or home loan has been included
- Compared products have identical features or eligibility requirements
- Third-party rates remain current
- A third-party product is available to a particular borrower
- The comparison constitutes personal advice or a recommendation.
Confirm all third-party product information directly with the relevant lender before acting.
Comparison-rate warning
WARNING: The comparison rate is true only for the example used to calculate it and may not include all fees and charges. Different loan amounts, loan terms, fees or other circumstances may result in a different comparison rate.