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Compare MyRate home loans

Compare rates, fees & features of our mortgage products at a quick glance.

Rates shown below are for new borrowers only.
Existing customers can verify their current rate/s by logging in to internet banking or by contacting customer service

For variable loans, interest rates will vary from time to time with market conditions.
Our business model is to combine secure funding and take advantage of our low overheads to deliver affordable home loans. However our funder may not always vary all loans by the same amount or may offer lower rates to attract new borrowers.
As such, slightly different borrower rates will exist depending on when your home loan settled.
MyRate rates are not honeymoon rates and there is not one "Standard Variable" reference rate that applies to all home loans.



  Selective Loan Advantage Loan All-in-One Loan Construction Loan 1 – 5 year Fixed Loans
Type of loan   Standard Variable Standard Variable Line of Credit Standard Variable Fixed Rate
Suitable for... All borrower types All borrower types All borrower types Purchasing land & funding building costs Fixing a portion of your loan; Investors
Interest Rate (p.a.)
$100k - $600k
4.99%
(4.99% CCR#)
5.17%
(5.17% CCR#)
5.65% 5.17% 4.75%5.20%
(See CCR#)
Interest Rate (p.a.)
Loans $600k+
4.99%
(4.99% CCR#)
5.17%
(5.17% CCR#)
5.55% 5.17% 4.75%5.20%
(See CCR#)
Application fees* $0 $0 $0 $0 $0
Valuation fees* $0 $0 $0 $295 final $0
Legal fees* $0 $0 $0 $0 $0
Settlement fees* $0 $0 $0 $0 $0
Ongoing/
Monthly fees*
$0 $0 $0 $0 $0
Redraw fees* $0 $0 $0 $0 n/a
Deferred
establishment fees
$0 $0 $0 $0 $0
Full fee schedule We have done our best to minimise as many fees as possible.
View our full fee schedule and descriptions.
Minimum loan $100k ($25k in combo) $100k ($25k in combo) $100k $100k $100k
Maximum loan $2M (more with special approval) $2M (more with special approval) $2M (can combine) $1M $2M (more with special approval)
Max LVR   90% 95% 95% 90% land & construction 95%
Splits/Combination yes yes yes yes yes
Interest Only Up to 5 years (monthly repayments only) Up to 5 years (monthly repayments only) Evergreen Up to 1 year (monthly repayments only) Up to 5 years (monthly repayments only)
Repayment frequency Fortnightly or monthly
Unlimited redraws*   yes yes yes yes n/a
Additional repayments* yes yes yes yes yes Up to $10k per annum
Term 10 to 30 years 10 to 30 years Evergreen 10 to 30 years 10 to 30 years 
Direct debit yes yes yes yes yes
Salary crediting   yes yes yes n/a  
Deposit Book* yes yes yes yes yes
Cheque/ATM/
Credit Card/Eftpos
Learn more Learn more yes Learn more Learn more
Internet/Phone Banking yes yes yes yes yes
BPay yes yes yes Learn more Learn more
Portable  yes yes yes   yes
Statements Half Yearly Half Yearly Monthly Half Yearly Half Yearly
Product Info Sheet Download PDF Download PDF Download PDF Download PDF Download PDF


Why compare?

Often the search for the right home loan begins with confusion. With so much information out there, it is tough to decide where to find suitable home loans in Australia.

However, at MyRate it is easy to compare home loans and find the answers to all your mortgage questions.

With a quick look at the above table, you can discern between all of the different types of mortgage products in terms of their home loan rates, fees and features.

It is important to remember that while a cheap home loan may be the ultimate goal, it is vital to see the true costs behind deals that may seem too good to be true.

With this in mind, we pride ourselves on our transparency, reputation, and commitment to educating borrowers to ensure they choose the right home loan product to suit their needs.

The MyRate Advantage

  • We are versatile. Whether you are a first home buyer interested in variable rate loans or a business owner interested in the one-to-five year fixed loans, MyRate can provide it for you.
  • MyRate provides borrowers with great mortgage products and one of the lowest interest rates in the country with no fees on standard applications.
  • By combining secure funding with the advantage of low overheads, MyRate strives to deliver affordable home loans.
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how much can i borrow
MyRate Update
Friday 12th September 2014

Borrow up to 97%?

MyRate can offer a 97% LVR on purchases including capitalised LMI. Available at 5.17% variable and comparison rate.

Enquire now to find out more.

Awards & Accreditations
Postcodes of MyRate funded loans
MyRate is a Kiva supporter