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Online home loans and lenders

Online home loan lenders offer super-low interest rates and quick loan processing times. Compare the latest offers today.

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By

Richard Whitten

Edited by

David Gregory

Updated

Fact checked
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1 - 11 of 11
Updated regularly
Name Finder Score Interest Rate p.a. Comparison Rate p.a. Fees Monthly Payment
Unloan Variable Home Loan
Unloan logo
Principal & Interest20% min. depositOwner-occupierRefinance Only
Unloan logo
Unloan Variable Home Loan
Principal & Interest20% min. depositOwner-occupierRefinance Only
Go to site
Product NameUnloan Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.99%
Comp. Rate p.a.5.90%
Minimum Loan Amount$10,000
Maximum Loan Amount $10,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Finder score
9.1
Interest Rate
5.99%
Comparison Rate
5.90%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$900
Go to site
loans.com.au Variable Home Loan
loans.com.au logo
Principal & Interest10% min. depositOwner-occupier
loans.com.au logo
loans.com.au Variable Home Loan
Principal & Interest10% min. depositOwner-occupier
Go to site
Product Nameloans.com.au Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.04%
Comp. Rate p.a.6.06%
Minimum Loan Amount$50,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest Option
Loan Portable
Extra Repayments Yes
Finder score
8.6
Interest Rate
6.04%
Comparison Rate
6.06%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$905
Go to site
Ubank Neat Variable Home Loan
Ubank logo
Principal & Interest40% min. depositOwner-occupier
Ubank logo
Ubank Neat Variable Home Loan
Principal & Interest40% min. depositOwner-occupier
Go to site
Product NameUbank Neat Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.09%
Comp. Rate p.a.6.11%
Minimum Loan Amount$80,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 60%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Finder score
8.5
Interest Rate
6.09%
Comparison Rate
6.11%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$909
Go to site
Ubank Flex Variable Home Loan
Ubank logo
Principal & Interest40% min. depositOwner-occupierOffset account
Ubank logo
Ubank Flex Variable Home Loan
Principal & Interest40% min. depositOwner-occupierOffset account
Go to site
Product NameUbank Flex Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.38%
Minimum Loan Amount$80,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 60%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Finder score
8.9
Interest Rate
6.14%
Comparison Rate
6.38%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$914
Go to site
Ubank Neat Variable Home Loan
Ubank logo
Principal & Interest20% min. depositOwner-occupier
Ubank logo
Ubank Neat Variable Home Loan
Principal & Interest20% min. depositOwner-occupier
Go to site
Product NameUbank Neat Variable Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.16%
Minimum Loan Amount$80,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Finder score
8.4
Interest Rate
6.14%
Comparison Rate
6.16%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$914
Go to site
Ubank Flex Fixed Home Loan
Ubank logo
Principal & Interest 1Y Fixed20% min. depositOwner-occupier
Ubank logo
Ubank Flex Fixed Home Loan
Principal & Interest 1Y Fixed20% min. depositOwner-occupier
Go to site
Product NameUbank Flex Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.39%
Comp. Rate p.a.6.45%
Minimum Loan Amount$80,000
Maximum Loan Amount $5,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableNo
Extra Repayments Yes
Finder score
7.5
Interest Rate
6.39%
Comparison Rate
6.45%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$939
Go to site
ING Orange Advantage Loan
ING logo
Principal & Interest20% min. depositOwner-occupierOffset account$150,000+
ING logo
ING Orange Advantage Loan
Principal & Interest20% min. depositOwner-occupierOffset account$150,000+
Product NameING Orange Advantage Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.43%
Minimum Loan Amount$150,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 80%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Finder score
8.9
Interest Rate
6.14%
Comparison Rate
6.43%
Fees
Application: $0
Ongoing: $299 p.a.
Monthly Payment
$914
Tiimely Home Own Variable Rate Home Loan
Tiimely Home logo
Finder AwardPrincipal & Interest10% min. depositOwner-occupierOffset accountwith offset
Tiimely Home logo
Tiimely Home Own Variable Rate Home Loan
Finder AwardPrincipal & Interest10% min. depositOwner-occupierOffset accountwith offset
Product NameTiimely Home Own Variable Rate Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.94%
Comp. Rate p.a.6.05%
Minimum Loan Amount$50,000
Maximum Loan Amount $3,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Finder score
9.2
Interest Rate
5.94%
Comparison Rate
6.05%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$895
Easy Street Fixed Home Loan
Easy Street logo
Principal & Interest 1Y Fixed5% min. depositOwner-occupierOffset account
Easy Street logo
Easy Street Fixed Home Loan
Principal & Interest 1Y Fixed5% min. depositOwner-occupierOffset account
Product NameEasy Street Fixed Home Loan
Interest Rate Typefixed rate
Repayment Type Principal & Interest
Interest Rate p.a.6.14%
Comp. Rate p.a.6.10%
Minimum Loan Amount$50,000
Maximum Loan Amount N/A
Maximum Loan Term30 years
Maximum LVR 95%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableYes
Extra Repayments Yes
Finder score
8.3
Interest Rate
6.14%
Comparison Rate
6.10%
Fees
Application: $500
Ongoing: $0 p.a.
Monthly Payment
$914
homeloans.com.au Low Rate Home Loan with Offset
Homeloans logo
Principal & Interest10% min. depositOwner-occupierOffset account
Homeloans logo
homeloans.com.au Low Rate Home Loan with Offset
Principal & Interest10% min. depositOwner-occupierOffset account
Product Namehomeloans.com.au Low Rate Home Loan with Offset
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.7.09%
Comp. Rate p.a.7.09%
Minimum Loan Amount$100,000
Maximum Loan Amount $2,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Finder score
7.7
Interest Rate
7.09%
Comparison Rate
7.09%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$1,008
Tiimely Home Own Variable Rate Home Loan
Tiimely Home logo
Principal & Interest10% min. depositOwner-occupier
Tiimely Home logo
Tiimely Home Own Variable Rate Home Loan
Principal & Interest10% min. depositOwner-occupier
Go to site
Product NameTiimely Home Own Variable Rate Home Loan
Interest Rate Typevariable rate
Repayment Type Principal & Interest
Interest Rate p.a.5.94%
Comp. Rate p.a.5.95%
Minimum Loan Amount$50,000
Maximum Loan Amount $3,000,000
Maximum Loan Term30 years
Maximum LVR 90%
Loan Redraw FacilityYes
Offset AccountNo
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableNo
Extra Repayments Yes
Finder score
8.7
Interest Rate
5.94%
Comparison Rate
5.95%
Fees
Application: $0
Ongoing: $0 p.a.
Monthly Payment
$895
Go to site
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What is Finder Score?

The Finder Score crunches 7,000 home loans across 120+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best home loans for cashback, you can see how each home loan stacks up against other home loans with the same borrower type, rate type and repayment type. We also take into consideration the amount of cashback offered when calculating the Score so you can tell if it's really worth it.

Read the full Finder Score breakdown

Are online home loans safe?

Just because you haven't heard of a small online lender, doesn't mean it's unreliable.

You can get online lenders that just offer you loans or you can get online banks, which also provide bank accounts. Many online banks, also known as neobanks, are owned or funded by a larger lender, and even the smallest lender is bound by Australian financial regulations.

If you are concerned, you can check that an individual lender has an Australian Credit Licence (ACL). Lenders should list their ACL number at the bottom of their webpage. This number can be cross-referenced with ASIC Connect's databases.

In the extremely unlikely event that an online lender closes up shop, your home loan is likely to be sold to another lender. This should have little to no effect on your repayments or overall loan, and the only change will be the company servicing your loan.

What are the benefits of using an online home loan lender?

  • Lower rates. Because they don't have the overhead of operating branches, online lenders can pass their savings onto you in the form of much lower interest rates. Many online lenders also offer innovative products and have a wide product range to suit a variety of borrowers.
  • Convenience. Online lenders also often have easy-to-use platforms that can help you speed through the application process. They also offer the ease and convenience of completing the mortgage application process from home rather than having to visit a bank branch.
  • Faster processing. Online lenders are innovating at a fast pace, and many of them offer super swift loan processing times – including the ability to assess, review and approve your home loan within hours.

Are there any downsides to going with a digital lender?

There are a few things worth noting if you're considering a digital lender.

  • Location. Some of the smaller online lenders aren't able to lend money for properties in regional areas. In the mortgage world, rural areas are regarded as riskier security, and many online lenders don't have the size or expertise to handle these types of loans. When purchasing a rural property, it is worth asking around for the lenders that permit home loans for regional areas.
  • Not in person. If you're uncomfortable with using the Internet for your banking, or you'd prefer face-to-face communication with your lender, then an online home loan probably isn't right for you.
  • Vanilla loans. While it is improving, the speed and convenience of an online lender are typically only for those lenders who tick all the right boxes. If you're anything other than PAYG employed or you don't have a perfect credit score, even online lenders will still need more time to process your application.
Richard Whitten

Richard Whitten's experience

I got my home loan via an online lender. It was really fast and simple. I put in all my details online and quickly got a follow up email from the lender. Then I received some paperwork in the mail, which I had to sign and post off. A guy came to my door to verify my ID, which was an odd experience. That was the only offline part of it. The fact we were buying an established property in a big city made it easier (it's easy for the lender to value the property automatically). If my case was more complicated I probably would have called a mortgage broker. But I have no regrets about my online home loan experience.
— Richard Whitten, Finder crew member

How do I apply for an online home loan?

Unsurprisingly, applying for a home loan with an online lender is done online. You will usually find an online application form on the lender's website. Simply follow the steps to enter all your information. Often, the online lender will assess your application in real-time as you fill out the fields.

Online home loan applications require much of the same documentation as with any home loan lender. They will still want to know your income and expenses to make sure you can meet your repayments.

Documents you will need include the following:

  • Proof of identity
  • Income documents (e.g. payslips or business activity statements)
  • Property details
  • Bank statements

Some borrowers may need to provide additional information, such as self-employed borrowers or those with poorer credit scores – this can slow down the application process.

Learn more about online lenders

Here's a little more information about some of the online lenders in our table, including which organisations fund or support them, and the digital innovations they offer:

  • Athena. This digital fintech lender offers low-rate mortgages and an entirely online service.
  • Unloan. This digital lender is owned by the Commonwealth Bank and offers fast loan applications for refinancers.
  • Homestar. A 100% online lender, Homestar has been providing mortgages to Australian borrowers since 2004.
  • ING. This online bank is part of the global, Dutch-based financial group of the same name.
  • AMP. While AMP is a large, traditional financial services company its lending business is fully online.
  • Loans.com.au. A Brisbane-based online lender, Loans.com.au is backed by Firstmac, Australia's largest non-bank lender.
  • ME Bank. Member's Equity was established back in 1994 and went fully digital in 2012. It's owned by the Bank of Queensland.
  • Nano Home Loans. Nano is an online lender with low rates and a fast approval process, currently only available to refinancers.
  • Tiimely Home. This lender boasts a fast online application tool, and it's backed by the Bendigo and Adelaide Bank.
  • UBank. This entirely digital lender is backed by NAB, one of the nation's largest banks.
  • Yard. A 100% online lender with a wide range of home loan products.

Why you can trust Finder's home loan experts

free
We're free
You won't pay any more by taking out a home loan with us. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare loans.
expert advice
We're experts
We've researched and rated dozens of home loans as part of our Finder Awards. We provide unique insights and our in-house experts regularly appear on Sunrise, 7News and SBS News.
independent
We're independent
Unlike other comparison sites, we're not owned by a third party. That means our opinions are our own and we work with lots of home loan lenders, making it easier for you to find a good deal.
help
We're here to help
Since 2014, we've helped 150,000+ people find a home loan by explaining the nitty gritty details simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.
To make sure you get accurate and helpful information, this guide has been edited by David Gregory as part of our fact-checking process.
Richard Whitten's headshot
Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise
Richard has written 538 Finder guides across topics including:
  • Home loans
  • Property
  • Personal finance
  • Money-saving tips
More resources on Finder

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2 Responses

    Default Gravatar
    Kevin.January 13, 2020

    Do you lend on property purchases in country Qld e.g Innisfail?

      Default Gravatar
      NikkiJanuary 15, 2020

      Hi Kevin,

      Thanks for your comment and I hope you are doing well. You would be able to know if a lender approves property purchases in a certain state by contacting them directly. You will find a table that compares the features and benefits of each home loan provider such as max loan rate, interest and etc. This way it will be easier for you to see which provider fits you best. To get started, browse through the list of lenders on the page and click the GO TO SITE button to be redirected to their main website. You can also click the compare box beside each loan option and compare up to 4 options side by side for easier comparison.

      As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.

      Hope this helps and feel free to reach out to us again for further assistance.

      Best,
      Nikki

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