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.