Compare Home Loans. Find the Right Fit for Your Future.
Whether you are buying your first home, refinancing, or investing, OptiCheck connects you with a specialist broker who compares home loans across 85+ lenders on your behalf.
No credit-score impact to start2-minute SmartCheckMatched to a specialist home loan broker
4.8/5 from 2,400+ reviews
Start Your Free SmartCheck
2-minute check. No credit score impact. Matched to a specialist broker.
4.8from 2,400+ reviews
100+ verified home loans brokers
No credit-score impact
Australian-owned platform
2,847
SmartChecks this month
$4,200
avg. annual savings found
2 min
average completion time
85+
lenders compared
94%
matched within 24 hrs
Current rates
Best refinance rates right now
Rates updated 15 March 2026
Best Variable Rate
5.08%p.a.
Comparison rate 5.13% p.a.
in1bank
in1bank in1home
Competitive variable rates available
Best Fixed Rate
5.20%p.a.
Comparison rate 5.78% p.a.
South West Slopes Bank
South West Slopes Bank Optimum 1 Year Fixed Rate Home Loan
fixed 1 year
Average Refinance Rate
5.34%p.a.
Across 21 products
Market average
Based on current market data
Market insight
Lenders are competing aggressively for refinance business in 2026. Many are offering cashback incentives of $2,000 to $4,000 and fee waivers that are not available to new purchase borrowers. If you have not reviewed your home loan in the past 12 months, there is a strong chance you are paying more than you need to.
Market update
Home Loans in Australia: March 2026 Update
Updated March 2026Home loan rates have lifted across the board following the Reserve Bank's sustained tightening cycle. Lenders are already pricing in the possibility of another rate increase, potentially as early as May 2026. Annual headline inflation is sitting at 3.8%, still above the RBA's 2-3% target band, which means the pressure for further rate hikes remains real.
Competitive variable home loan rates are now hovering above the mid-5% range, while shorter-term fixed rates have also increased for new borrowers. The current best home loan rate on our database starts from 5.08% p.a. (comparison rate 5.13% p.a.) for owner-occupiers on a variable rate.
Despite higher rates, demand for home loans remains strong. Over $30 billion in new home loans are issued every month in Australia, and 76% of borrowers now use a mortgage broker to navigate the process. A broker compares home loans across dozens of lenders, identifies the most suitable product for your situation, and manages the application from start to settlement.
$693,801
Average new home loan
$30.08B
New home loans issued monthly
30,000+
Australians switch home loans monthly
5.08%
Lowest home loan rate
$3,935
Average monthly repayment
76%
Use a mortgage broker
Why OptiCheck
Why check home loans through OptiCheck?
SmartCheck pre-qualification
Your home loan enquiry is assessed through a guided finance lens before you speak to anyone. No guesswork, no generic rate tables.
Specialist home loan broker
Get matched with a broker who understands deposit requirements, LVR thresholds, lender policies, and the full application process.
85+ lenders, one SmartCheck
Your broker compares home loans across major banks, credit unions, and specialist lenders. You get breadth without the overwhelm.
No credit-score impact
Starting your SmartCheck does not affect your credit file. You stay in control until you decide to proceed with a formal application.
Broker-guided support
Real people, not just rate tables
Most comparison sites leave you with a list of numbers and no guidance. OptiCheck connects you with a specialist refinance broker who understands break costs, equity positions, lender switching incentives, and cashback structures.
Your broker works for you, not the lender. They manage the full application process from initial assessment through to settlement, keeping you informed at every step.
Broker network
100+ specialists
How it works
How home loans works with OptiCheck
01
Tell us about your home loan needs
Complete a 2-minute SmartCheck covering your loan amount, property type, deposit size, and what you want to achieve.
02
We assess your borrowing profile
SmartCheck evaluates your income, employment status, and borrowing indicators before matching you with the right broker.
03
Meet your home loan broker
A specialist broker reviews your situation, compares home loans across 85+ lenders, and explains your best options clearly.
04
Apply with confidence
Your broker manages the full home loan application, communicates with the lender, and keeps you informed through to settlement.
Compare
OptiCheck vs typical comparison sites
| Feature | OptiCheck | Typical sites |
|---|---|---|
| Pre-qualification | SmartCheck assesses your profile first | Usually none, straight to rate table |
| Human support | Specialist home loan broker assigned | Mostly self-serve, no guidance |
| Lender access | 85+ lenders through broker panel | Limited to advertising partners |
| Deposit guidance | Broker explains LVR, LMI, and deposit options | Rarely mentioned |
| Application support | Broker manages full process to settlement | You are on your own after clicking |
| Ongoing review | Broker can review your home loan annually | No follow-up after initial comparison |
Guide
Understanding home loans in Australia
What is a home loan?
A home loan, also known as a mortgage, is a loan used to purchase residential property. The property itself serves as security for the loan, which means the lender can repossess it if you fail to meet your repayment obligations. Home loans in Australia typically run for 25 to 30 years, though many borrowers refinance or pay off their loan earlier.
Home loans come in several types: variable rate home loans where the interest rate moves with market conditions, fixed rate home loans where the rate is locked for a set period (usually 1 to 5 years), and split home loans that combine both. Each type has advantages depending on your financial situation and risk tolerance.
The amount you can borrow depends on your income, expenses, existing debts, deposit size, and the property value. Lenders assess your borrowing capacity using a serviceability test that factors in a buffer rate above the actual interest rate to ensure you can still afford repayments if rates rise.
How to choose the right home loan
Choosing the right home loan involves more than finding the lowest interest rate. You need to consider the comparison rate (which includes fees and charges), the loan features you actually need (offset account, redraw facility, extra repayments), and the lender's policies around things like LVR limits and acceptable property types.
A mortgage broker compares home loans across dozens of lenders and can identify products that match your specific situation. For example, some lenders are more favourable for self-employed borrowers, while others offer better rates for high-deposit applicants. A broker understands these nuances and saves you from applying to the wrong lender.
Key factors to compare when choosing a home loan include: the interest rate and comparison rate, whether the rate is variable or fixed, monthly and annual fees, offset and redraw features, the maximum loan-to-value ratio (LVR), and whether the lender offers cashback or fee waiver incentives for new borrowers.
Understanding home loan costs
Beyond the interest rate, home loans come with several costs that borrowers should understand before committing. Upfront costs include the application fee (typically $0 to $600), valuation fee, settlement fee, and potentially Lenders Mortgage Insurance (LMI) if your deposit is less than 20% of the property value.
LMI can be a significant cost, sometimes adding thousands of dollars to your loan. However, some government schemes like the First Home Guarantee allow eligible buyers to purchase with as little as 5% deposit without paying LMI. A broker can help you understand whether you qualify for these schemes.
Ongoing costs include monthly or annual account-keeping fees, and potentially break costs if you exit a fixed-rate loan early. When comparing home loans, always look at the comparison rate rather than just the advertised rate, as the comparison rate includes most fees and gives a more accurate picture of the true cost.
Quick refinance fact
The average Australian who refinances saves between $200 and $400 per month on their mortgage repayments. Over a 25-year loan term, that adds up to $60,000 or more in interest savings.
Lender network
Access 85+ Australian lenders through one SmartCheck
Your broker can access major banks, credit unions, and specialist lenders. You get breadth without the overwhelm.
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Best refinance home loan rates Australia
Rates updated 15 March 2026
Compare the best home loan refinance rates in Australia, starting from 5.08% p.a. (comparison rate^ 5.13% p.a.). See how much you can save on your current home loan.
| Provider | Product | Interest rate | Comparison rate | Monthly repayment | Key features | Compare Now |
|---|---|---|---|---|---|---|
Sponsored | Loans.com.au Variable Bare Home Loan 90% LVR | 5.54% p.a. variable | 5.58% p.a. | $2,852 Principal & Interest | Max LVR 90%Redraw | Compare Now |
| in1bank in1home | 5.08% p.a. variable | 5.13% p.a. | $2,709 Principal & Interest | Max LVR 50%Redraw | Compare Now |
| in1bank in1offsethome | 5.18% p.a. variable | 5.62% p.a. | $2,739 Principal & Interest | Max LVR 50%OffsetRedraw | Compare Now |
 | Laboratories Credit Union Simple Home Loan Owner Occupied | 5.19% p.a. variable | 5.21% p.a. | $2,742 Principal & Interest | Max LVR 95%RedrawApp Fee $200 | Compare Now |
| South West Slopes Bank Optimum 1 Year Fixed Rate Home Loan | 5.20% p.a. fixed 1 year | 5.78% p.a. | $2,746 Principal & Interest | Max LVR 90%RedrawSplit Loan | Compare Now |
 | BankVic Home Buyer or Upgrade Fixed Rate | 5.29% p.a. fixed 2 years | 5.59% p.a. | $2,773 Principal & Interest | Max LVR 80%App Fee $600 | Compare Now |
 | Pacific Mortgage Group Owner Occupied Variable Home Loan | 5.34% p.a. variable | 5.34% p.a. | $2,789 Principal & Interest | Max LVR 80%Redraw | Compare Now |
| South West Slopes Bank Optimum 3 Year Fixed Rate Home Loan | 5.34% p.a. fixed 3 years | 5.71% p.a. | $2,789 Principal & Interest | Max LVR 90%RedrawSplit Loan | Compare Now |
 | Northern Inland Credit Union Smart Home Loan | 5.34% p.a. fixed 3 years | 6.78% p.a. | $2,789 Principal & Interest | Max LVR 80%OffsetRedraw | Compare Now |
 | Gateway Bank Green Plus Home Loan | 5.35% p.a. variable | 5.64% p.a. | $2,792 Principal & Interest | Max LVR 80%OffsetRedraw | Compare Now |
SponsoredLoans.com.au Variable Bare Home Loan 90% LVR
Loans.com.au Variable Bare Home Loan 90% LVRInterest rate
5.54%
p.a. variable
Comparison
5.58%
p.a.
Repayment
$2,852
P&I /mo
Max LVR 90%Redraw
Compare Nowin1bank in1homeInterest rate
5.08%
p.a. variable
Comparison
5.13%
p.a.
Repayment
$2,709
P&I /mo
Max LVR 50%Redraw
Compare Nowin1bank in1offsethomeInterest rate
5.18%
p.a. variable
Comparison
5.62%
p.a.
Repayment
$2,739
P&I /mo
Max LVR 50%OffsetRedraw
Compare NowLaboratories Credit Union Simple Home Loan Owner OccupiedInterest rate
5.19%
p.a. variable
Comparison
5.21%
p.a.
Repayment
$2,742
P&I /mo
Max LVR 95%RedrawApp Fee $200
Compare NowSouth West Slopes Bank Optimum 1 Year Fixed Rate Home LoanInterest rate
5.20%
p.a. fixed 1 year
Comparison
5.78%
p.a.
Repayment
$2,746
P&I /mo
Max LVR 90%RedrawSplit Loan
Compare NowBankVic Home Buyer or Upgrade Fixed RateInterest rate
5.29%
p.a. fixed 2 years
Comparison
5.59%
p.a.
Repayment
$2,773
P&I /mo
Max LVR 80%App Fee $600
Compare NowPacific Mortgage Group Owner Occupied Variable Home LoanInterest rate
5.34%
p.a. variable
Comparison
5.34%
p.a.
Repayment
$2,789
P&I /mo
Max LVR 80%Redraw
Compare NowSouth West Slopes Bank Optimum 3 Year Fixed Rate Home LoanInterest rate
5.34%
p.a. fixed 3 years
Comparison
5.71%
p.a.
Repayment
$2,789
P&I /mo
Max LVR 90%RedrawSplit Loan
Compare NowNorthern Inland Credit Union Smart Home LoanInterest rate
5.34%
p.a. fixed 3 years
Comparison
6.78%
p.a.
Repayment
$2,789
P&I /mo
Max LVR 80%OffsetRedraw
Compare NowGateway Bank Green Plus Home LoanInterest rate
5.35%
p.a. variable
Comparison
5.64%
p.a.
Repayment
$2,792
P&I /mo
Max LVR 80%OffsetRedraw
Compare Now^ Comparison rates are based on a secured loan of $150,000 over 25 years. WARNING: This comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Rates sourced from money.com.au and are subject to change. OptiCheck does not provide financial advice. Always check with the lender directly before making a decision.
Financial tool
Estimate your refinance repayments
Loan Repayment Calculator
Estimate your repayments . for illustration only
This calculator provides estimates only and does not constitute financial advice. Actual repayments may vary based on lender fees, loan structure, and individual circumstances. Use SmartCheck for a personalised assessment.
Debt consolidation tool
Could consolidating your debts save you money?
Debt Consolidation Calculator
See how much you could save by consolidating your debts into your home loan at a lower interest rate.
Your current debts
%
%
Consolidated into your home loan
% p.a.
years
Your potential savings
Total debt
$35,000
Current avg rate
16.1%
Current monthly
$900
Consolidated monthly
$223
You could save
$677/month
That is $8,122 per year back in your pocket
This calculator provides estimates only. Actual savings depend on your individual circumstances, lender assessment, and loan terms. Consolidating short-term debts into a mortgage extends the repayment period. Speak to your broker about the total cost implications.
Customer stories
What Australians say about OptiCheck
"We refinanced through OptiCheck and our broker found us a rate 0.8% lower than our bank offered. That is $340 less every single month."
Emma R.
Home refinance, Sydney
"The broker explained break costs I did not even know existed. Saved us from making a $6,000 mistake."
Liam T.
Refinance assessment, Melbourne
"SmartCheck took two minutes and I had a broker call me the same afternoon. Refinance settled in three weeks."
Sarah K.
Refinance, Brisbane
"I was paying 6.9% and thought that was normal. My OptiCheck broker got me 5.89% with the same lender type."
James W.
Rate reduction, Perth
"The whole process felt guided and calm. No pressure, just clear information and a broker who actually listened."
Priya M.
Home loan review, Adelaide
"Consolidated $42,000 in credit card debt into our mortgage. One repayment, lower rate, finally breathing again."
Daniel H.
Debt consolidation refinance, Gold Coast
"Our fixed rate was about to expire and we had no idea what to do. The broker mapped out three options clearly."
Mei L.
Fixed rate expiry, Sydney
"I compared rates online for weeks and got nowhere. One SmartCheck and I had a broker who did the work for me."
Tom B.
Rate comparison, Melbourne
"The cashback offer my broker found covered all the switching costs. Net positive from day one."
Rachel S.
Cashback refinance, Brisbane
"We accessed $80,000 in equity for renovations while also dropping our rate. Did not think that was possible."
Marcus P.
Equity access refinance, Perth
"As a single mum, I was nervous about the process. My broker made it simple and I am saving $220 a month now."
Jessica F.
Refinance, Newcastle
"Switched from a big four bank to a credit union. Better rate, better service, and the broker handled everything."
Ben C.
Lender switch, Adelaide
"We refinanced through OptiCheck and our broker found us a rate 0.8% lower than our bank offered. That is $340 less every single month."
Emma R.
Home refinance, Sydney
"The broker explained break costs I did not even know existed. Saved us from making a $6,000 mistake."
Liam T.
Refinance assessment, Melbourne
"SmartCheck took two minutes and I had a broker call me the same afternoon. Refinance settled in three weeks."
Sarah K.
Refinance, Brisbane
"I was paying 6.9% and thought that was normal. My OptiCheck broker got me 5.89% with the same lender type."
James W.
Rate reduction, Perth
"The whole process felt guided and calm. No pressure, just clear information and a broker who actually listened."
Priya M.
Home loan review, Adelaide
"Consolidated $42,000 in credit card debt into our mortgage. One repayment, lower rate, finally breathing again."
Daniel H.
Debt consolidation refinance, Gold Coast
"Our fixed rate was about to expire and we had no idea what to do. The broker mapped out three options clearly."
Mei L.
Fixed rate expiry, Sydney
"I compared rates online for weeks and got nowhere. One SmartCheck and I had a broker who did the work for me."
Tom B.
Rate comparison, Melbourne
"The cashback offer my broker found covered all the switching costs. Net positive from day one."
Rachel S.
Cashback refinance, Brisbane
"We accessed $80,000 in equity for renovations while also dropping our rate. Did not think that was possible."
Marcus P.
Equity access refinance, Perth
"As a single mum, I was nervous about the process. My broker made it simple and I am saving $220 a month now."
Jessica F.
Refinance, Newcastle
"Switched from a big four bank to a credit union. Better rate, better service, and the broker handled everything."
Ben C.
Lender switch, Adelaide
Nationwide coverage
Home Loans across Australia
How SmartCheck works
Three steps to a better home loan
01
Complete SmartCheck
Answer a few quick questions about your current loan, property value, and what you want to achieve. Takes about 2 minutes, no credit score impact.
2-minute check02
We qualify and match
Your enquiry is assessed through our guided finance lens. We compare across 85+ lenders to identify which options may suit your profile and goals.
85+ lenders compared03
Broker-guided support
A verified specialist broker reviews your results and contacts you to discuss structure, suitability, and realistic next steps. Real help, not just a comparison table.
Human support included"We refinanced through OptiCheck and our broker found us a rate 0.8% lower than our bank offered. That is $340 less every single month."
Emma R.
Home refinance, Sydney
Frequently asked questions
Common home loans questions
Answers to the most common questions about home loans in Australia.
Your borrowing capacity depends on your income, expenses, existing debts, and the size of your deposit. Most lenders use a serviceability assessment that includes a buffer rate above the current interest rate. A broker can give you a more accurate estimate based on your specific financial situation.
Most lenders require a minimum 5% deposit, though a 20% deposit avoids Lenders Mortgage Insurance (LMI). Some government schemes allow eligible first home buyers to purchase with as little as 2% deposit. A broker can explain which deposit options apply to your situation.
A variable rate home loan has an interest rate that can change over time based on market conditions and lender decisions. A fixed rate home loan locks your rate for a set period (usually 1-5 years), giving you certainty over repayments. Many borrowers choose a split loan that combines both.
A comparison rate includes the interest rate plus most fees and charges associated with the loan, expressed as a single percentage. It gives a more accurate picture of the true cost of a home loan than the advertised interest rate alone. By law, lenders must display comparison rates alongside advertised rates.
Home loan approval typically takes 2 to 6 weeks from application to formal approval, depending on the lender and the complexity of your application. Pre-approval (conditional approval) can often be obtained within a few days. A broker can help speed up the process by ensuring your application is complete and submitted to the right lender.
76% of Australian home loan borrowers use a mortgage broker. A broker compares home loans across dozens of lenders, handles the application process, and provides guidance throughout. Their service is typically free to the borrower as they are paid by the lender upon settlement.
LMI is a one-off insurance premium that protects the lender if you default on your home loan. It is typically required when your deposit is less than 20% of the property value. LMI can cost thousands of dollars and is usually added to your loan balance. Some government schemes allow you to avoid LMI with a smaller deposit.
Most variable rate home loans allow unlimited extra repayments without penalty. Fixed rate home loans may limit extra repayments to a certain amount per year (often $10,000-$30,000) or charge break costs for early repayment. A broker can help you find a home loan that matches your repayment preferences.
An offset account is a transaction account linked to your home loan. The balance in your offset account is deducted from your loan balance when calculating interest, which can significantly reduce the total interest you pay over the life of the loan. Not all home loans include an offset account, and some charge a fee for the feature.
Comparing home loan rates through OptiCheck does not affect your credit score. Our SmartCheck is a soft enquiry that helps assess your borrowing profile without leaving a mark on your credit file. A formal credit check only occurs when you submit a full application through a lender.
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