Lender
Advertised rate Comparison rate* Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval

VariableMore details
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
LIMITED TIME OFFER

Smart Booster Home Loan Discounted Variable - 2yr (LVR < 80%)

  • Fast turnaround times, can meet 30-day settlement
  • For purchase and refinance, min 20% deposit
  • No ongoing or monthly fees, add offset for 0.10%
VariableMore details
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
100% FULL OFFSET ACCOUNTNO APPLICATION FEE OR ONGOING FEES

Low Rate Home Loan - Prime (Principal and Interest) (Owner Occupied) (LVR < 60%)

  • No upfront or ongoing fees
  • 100% full offset account
  • Extra repayments + redraw services
VariableMore details
REFINANCE IN MINUTES, NOT WEEKS

Variable Owner Occupied, Principal and Interest (Refinance Only)(LVR <75%)

  • No application or ongoing fees.
  • 100% free offset sub account.
  • Fast online application, approval in minutes not weeks.
  • Mobile app, Visa debit card, Apple and Google Pay
  • Refinance loans and variable rates only.
REFINANCE IN MINUTES, NOT WEEKS

Variable Owner Occupied, Principal and Interest (Refinance Only)(LVR <75%)

  • No application or ongoing fees.
  • 100% free offset sub account.
  • Fast online application, approval in minutes not weeks.
  • Mobile app, Visa debit card, Apple and Google Pay
  • Refinance loans and variable rates only.
VariableMore details
ZERO APPLICATION FEESFEE FREE OFFSET

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees
ZERO APPLICATION FEESFEE FREE OFFSET

Owner Occupier Accelerates - Celebrate (LVR < 60%) (Principal and Interest)

  • We lower your rate based off how much you’ve paid down your loan
  • Automatic rate match
  • No upfront or ongoing fees
VariableMore details
FREE REDRAW FACILITY
  • Application completely online
  • Unlimited free redraws
  • Optional 100% offset can be added for $120 p.a.^
FREE REDRAW FACILITY
VariableMore details
100% FULL OFFSET ACCOUNT

Offset Package Home Loan (Principal and Interest) (LVR < 60%)

100% FULL OFFSET ACCOUNT
VariableMore details
NO ONGOING FEES

Budget Home Loan (Principal and Interest) (LVR < 80%)

NO ONGOING FEES
VariableMore details
FREE REDRAW FACILITY

Basic Home Loan (Principal and Interest) (LVR 70%-80%)

FREE REDRAW FACILITY

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page. *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 January 27, 2022.

About Owner Occupied Home Loans

If you’re buying a home to live in, an owner occupied home loan allows you to borrow the amount you need to purchase an existing home, build a new property or renovate an existing one.

Home ownership is the Great Australian Dream and it’s a big business, with owner occupier loans accounting for the majority of home loan commitments each month according to the Australian Bureau of Statistics (ABS).

What is an owner occupied home?

As the name implies, an owner occupied home is one you purchase with the intention of living in it. Owner occupied home loans generally have lower interest rates than investment loans because owner occupiers are seen as a safer bet than an investor. An owner occupied home loan may also have certain terms and conditions that restrict you from renting out the property for a period of time.

Owner occupier home loan interest rates

The interest rates on owner occupier home loans are generally cheaper than interest rates on investment home loans. That’s because owner occupier borrowers are generally seen as being less risky than an investor.

Interest rates on owner occupier home loans are currently at record lows, with most below 3% p.a.

Owner occupier home loan fees

If you’re not careful, fees on an owner occupier home loan can sting you. These fees include:

  • Upfront fees
  • Ongoing fees
  • Exit/break fees

Owner occupier home loan features

Owner occupier home loans come with a range of features such as an offset account, redraw or line of credit facility , and the ability to make extra repayments.

Home loans that come with these features are generally more expensive than home loans that don’t offer these. However, most of these features are designed to help you pay your home loan off sooner, which could save you money in the long run.

Frequently Asked Questions

There are a few key ways you can save on your owner occupied home loan:

Home Loan Lenders

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