Best interest rates for first home buyers & FHLDS lenders compared

The best home loans for first home buyers charge low rates and fees, probably include an offset account and are available for people with a 20 per cent (or sometimes lower) deposit.

You may have to show your savings history and proof of expenses to get a first home buyer home loan. You may also want to check out this guide to the First Home Loan Deposit Scheme.

Comparing home loans for first home buyers means looking carefully at the owner-occupier rates, fees, options, LVRs and conditions.

This article contains the best interest rates now available from First Home Loan Deposit Scheme lenders and some of the best interest rates now available on InfoChoice for first home buyers in Australia.

Best rates from First Home Loan Deposit Scheme Lenders

Scroll down this list to scan through the full list of FHLDS lenders and their best current interest rates for first home buyers.

You can click through to see the current home loans rates as listed on InfoChoice from FHLDS home loan lenders.

This list contains links to all First Home Loan Deposit Scheme lenders.


Commonwealth Bank’s lowest rate for first home buyers is currently 2.99% pa (comparison rate 4.37% pa) fixed for three years.

All of Commonwealth Bank’s current home loan rates as listed on InfoChoice in February 2020.

NAB’s Fixed Choice Package 2 Year has a first home buyer special rate of 2.88% pa (comparison rate 4.34% pa).

All of National Australia Bank’s current home loan rates as listed on InfoChoice in February 2020.

Australian Military Bank has a Basic DHOAS Value Home Loan rate currently set at 3.63% pa (comparison rate 3.67% pa).

All of Australian Military Bank current home loan rates as listed on InfoChoice in February 2020.

For borrowers with just a 10 per cent deposit, Auswide Bank has 1-year fixed rates of 3.69% pa (comparison rate 5.06% pa).

All of Auswide Bank current home loan rates in February 2020 as listed on InfoChoice.

The lowest home loan rate in Australia (as listed on InfoChoice) is currently 2.44 per cent pa (comparison rate 3.50% pa) fixed for two years.

All of Bank Australia current home loan rates in February 2020 as listed on InfoChoice.

BankFirst has a Complete Home Loan (Owner Occupied) for First Home Buyers with a 20% deposit with variable rates currently set at 3.66% pa (comparison rate 3.67% pa).

All of Bank First current home loan rates in February 2020 as listed on InfoChoice.

Bank of Heritage Isle

Bank of Us has a Flexi Discount variable home loan with current rates set at 3.38% pa (comparison ate 3.40% pa).

All of Bank of Us current home loan rates in February 2020 as listed on InfoChoice.

Beyond Bank has a First Home Buyers Total Package home loan with rates currently set at 3.24% pa (comparison rates from 4.34% pa, depending on the length of the fixed term).

All of Beyond Bank current home loan rates in February 2020 as listed on InfoChoice.

Bendigo Bank’s 2-year fixed rate is currently 2.99% pa for owner occupiers paying principal and interest (comparison rate 3.39% pa).

All of Bendigo Bank current home loan rates in February 2020 as listed on InfoChoice.

Border Bank

Community First’s Honeymoon Home Loan has a current 1-year fixed rate of 3.45% pa (comparison rate 4.19% pa).

All of Community First CU current home loan rates in February 2020 as listed on InfoChoice.

CUA’s lowest home loan rate now is 2.84% pa (comparison rate 4.26% pa).  All of CUA current home loan rates in February 2020 as listed on InfoChoice.

Defence Bank has fixed rates starting from 2.98% pa (comparison rates from 4.05% pa) for owner-occupiers on Ultimate Essentials loans.

All of Defence Bank current home loan rates in February 2020 as listed on InfoChoice.

Endeavour Mutual Bank has a first home buyer basic variable rate of 3.22% pa (comparison rate 3.25% pa).

All of Endeavour Mutual Bank current home loan rates in February 2020 as listed on InfoChoice.

Firefighters Mutual Bank

Gateway Bank’s Low Rate Essentials Home Loan has a special rate for loan amounts over $500K of 3.01% pa (comparison rate 3.04% pa).

All of Gateway Bank current home loan rates in February 2020 as listed on InfoChoice.

G&C Mutual Bank’s First Home Premium Package has a current variable rate for owner-occupiers of 2.79% pa (comparison rate 2.79% pa).

All of G&C Mutual Bank current home loan rates in February 2020 as listed on InfoChoice.

Health Professionals Bank

Indigenous Business Australia

MortgagePort

MyState Bank’s Basic Variable Home Loan rate is currently 3.08% pa (comparison rate 3.11% pa).

All of MyState Bank current home loan rates in February 2020 as listed on InfoChoice.

People’s Choice Credit Union

Police Bank have Goldrate Home loan with a current variable rate for owner-occupiers of 3.18% pa 9comparison rate 3.26% pa).

All of Police Bank current home loan rates in February 2020 as listed on InfoChoice.

P&N bank have a loan with a variable introductory rate for 12 months, often popular with first home buyers, of 2.99% pa then reverting to 3.47% pa (comparison rate 3.43%pa).

All of P&N Bank current home loan rates in February 2020 as listed on InfoChoice.

QBank accepts applications from first home buyers with as little as a 5% deposit and offers approved applicants a rate of 3.30% pa (comparison rate 3.33% pa).

All of QBank current home loan rates in February 2020 as listed on InfoChoice.

Queensland Country CU

Regional Australia Bank

Sydney Mutual Bank

Teachers Mutual has a 2.8% pa rate (comparison rate 3.29% pa) for basic owner-occupier home loans.

All of Teachers Mutual Bank current home loan rates in February 2020 as listed on InfoChoice.

The Mutual Bank

Unibank has a 2.8% pa rate (comparison rate 3.29% pa).

All of UniBank current home loan rates in February 2020 as listed on InfoChoice.

WAW

Check out our quick two minute guide to the First Home Loan Deposit Scheme.

Click here to find out the property price thresholds for the FHLDS in your area.

Compare 1800 home loans at InfoChoice.

* The products compared in this article are chosen from a range of offers available to us and are not representative of all the products available in the market and influenced by a range of factors including interest rates, product costs and commercial and sponsorship arrangements

InfoChoice compares financial products from 145 banks, credit unions and other financial institutions in Australia. InfoChoice does not compare every product in the market. Some institutions may have a commercial partnership with InfoChoice. Rates are provided by partners and taken from financial institutions websites. We believe all information to be accurate on the date published. InfoChoice strives to update and keep information as accurate as possible.

The information contained on this web site is general in nature and does not take into account your personal situation. Do not interpret the listing order as an endorsement or recommendation from us.  You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser. If you or someone you know is in financial stress, contact the National Debt Helpline on 1800 007 007.

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