The lowest variable home loan comparison rate now listed on InfoChoice is 2.71 per cent per annum from Reduce Home Loans. FreedomLend has an owner-occupied variable comparison rate (P&I) of 2.79 per cent pa. There are 110 variable home loan products for owner-occupiers (listed on InfoChoice’s database of 1800 loans) now charging advertised rates less than 3.3 per cent pa in December 2019. How much can I save by refinancing, in December 2019? Switching from a $300K, 25-year mortgage charging 4.0 per cent pa to a loan charging 2.9 per cent pa could save a borrower $52,929 over the life of the loan according to the InfoChoice refinancing calculator. “Even switching from a loan charging 3.5 per cent to a really low-rate mortgage of 2.9 per cent pa or less can save you almost one hundred dollars per month and $28K over the loan,” said Vadim Taube, CEO of InfoChoice “There’s no better time to refinance than right now to a super low rate and the RBA has reported last week that many Aussie borrowers are doing just that,” said Vadim Taube. Ten top Low Rate variable home loan (OO, P&I) now listed on InfoChoice* “If your bank isn’t giving you a great rate, find alternatives and reduce your repayments by hundreds of dollars per month.” Five top Low rate variable home loans in December 2019 FreedomLend’s owner-occupied variable comparison rate (P&I) of 2.79 per cent pa is a market leader in December. This loan has a minimum amount of $50,000, maximum amount of $1.5 million, maximum LVR of 80 per cent, no application fees plus offers redraw and an offset account. UBank’s Discount Offer for Owner Occupiers (variable P&I) has a minimum loan amount of $200K, up to $9.99 million. This loan has no fees and a comparison rate of 2.84 per cent pa. Suncorp’s Special Offer Back to Basics Owner Occupied >$150K has a maximum LVR of 90 per cent and a comparison rate of 3.04 per cent pa. This loan also offers discounts on groceries and petrol with Suncorp Benefits program. Aussie’s Activate Prime Full Doc for LVRs between 75 and 80 per cent has a comparison rate of 3.12 per cent pa. This loan has a maximum amount of $2 million and offers offset and redraw for borrowers paying principal and interest only. Beyond Bank’s Owner Occupied Total Home Loan Package has a variable rate of 3.15 per cent pa (comparison rate 3.56 per cent pa) an annual fee of $395. This loan has a maximum amount of $2 million (OO, P&I). You can compare variable rate home loans from Australia’s banks, credit unions and other lenders 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.