With 100+ lenders in the Australian mortgage market, finding the best home loan takes time. We have done the comparison for you — here are the standout options across variable, fixed, and offset loans in April 2026.
Disclaimer: Rates change frequently. Always verify current rates directly with lenders before applying. This comparison is general information only.
Best Variable Rate Home Loans — April 2026
| Lender | Variable Rate | Comparison Rate | Key Feature |
|---|---|---|---|
| UBank | 5.35% | 5.37% | Online lender, offset account |
| Athena | 5.49% | 5.49% | No fees, rate drops as you repay |
| Tic:Toc | 5.54% | 5.55% | Fast online approval |
| Reduce Home Loans | 5.59% | 5.61% | Offset available |
| ANZ | 6.14% | 6.16% | Big 4 bank, full branch access |
Best Fixed Rate Home Loans — April 2026
| Lender | 2yr Fixed | 3yr Fixed | Best For |
|---|---|---|---|
| Macquarie Bank | 5.69% | 5.79% | Competitive fixed + offset |
| NAB | 5.89% | 5.99% | Big 4 certainty |
| Westpac | 5.99% | 6.09% | Full service bank |
Variable vs Fixed — Which Should You Choose?
This is the most common question in the Australian mortgage market. Here is a simple framework:
- Choose variable if: You want flexibility, plan to make extra repayments, or believe rates will fall
- Choose fixed if: You need certainty on repayments, are on a tight budget, or believe rates will rise further
- Consider a split loan: Fix part (e.g. 50%) and keep the rest variable — best of both worlds
What Makes a Good Home Loan Beyond the Rate?
- Offset account — reduces interest charged on your loan balance
- Redraw facility — access extra repayments you have made
- No ongoing fees — annual package fees of $395 can cost $11,850 over 30 years
- Portability — ability to take the loan with you when you sell and buy again
Calculate Your Repayments
See your exact monthly repayments at current rates with our free calculator.
Disclaimer: General information only. Not financial advice. Always consult a licensed professional.