Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of .

The Commonwealth Bank of Australia (CBA) is a multinational bank and one of Australia’s ‘Big Four’ banks. It was founded in 1912 as a government bank and today has more than 800,000 shareholders and 52,000 staff.

It offers customers a wide range of financial services including home loans, personal loans, savings and everyday banking accounts, credit cards, business banking, financial planning services, superannuation and advice, insurance services and investment tools.

Beyond their standard Variable and Fixed Rate loans, one of CBA's most popular products is the Extra Home Loan, which allows borrowers to either save at the front end of the mortgage with an introductory rate, or gives them a discount for the life of the loan – or both, if the borrower(s) are first time homebuyers who have never owned property in Australia before.

When it comes to applying for a home loan, Commonwealth Bank offers a number of ways to determine your eligibility – you can do it online, over the phone, or you can book an appointment to either visit a branch or have a lender come visit you at home or your workplace.

Additionally, because of their position as one of the largest banks in Australia, CBA hosts a very large branch network, as well as thousands of ATMs all over Australia. Combine this with an award winning online banking platform in Netbank, and it's easy to see why CBA is such a staple in the mortgage market.

As always, it's best to be prepared before you apply for a mortgage, so double-check that you've got all the necessary information ready and available before you apply.

That said:

  • You will need to be at least 18 years of age to apply for a home loan
  • You will need to be able to provide evidence of your income when you apply, so make sure you hang on to your tax returns, pay slips, and other financial details.
  • Alongside your income, Commonwealth Bank, just like any other lender, will want to examine your assets and your debts
  • You will also need to be able to prove your identity – a passport, a state ID, etc.
  • Any information about the property you're looking to buy, if you've already found one that strikes your fancy.

Some other features that many Commonwealth Bank mortgages include are the ability to make extra repayments on your loan, low deposit (95% LVR) loans, discounted packages when you bundle your mortgage with other products, and a fairly flexible repayment schedule of weekly, fortnightly, or monthly payments.

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