The lowest home loan rates in Australia are under 2.50 per cent pa with one lender now offering a rate of 2.44 per cent pa (comparison rates up to 3.50 per cent pa) on two and three year fixed terms. Right now, lenders are cutting rates for investors, owner-occupiers and borrowers with small deposits as the first home loan deposit scheme kicks off. A full list of FHLDS lenders is at InfoChoice. Right now, in early 2020, the lowest rate lenders in Australia and the cheapest home loans in Australia keep getting even cheaper. Rates are being cut by big banks, mutual banks and credit unions every week. There is a new lowest home loan rate now available in Australia (on InfoChoice*) from Bank Australia at 2.44 per cent pa. Bank Australia and other lenders are also cutting rates for borrowers with small deposits as CBA, NAB and other smaller lenders accept applications from First Home Loan Deposit Scheme (FHLDS) hopefuls. New lenders joined the First Home Loan Deposit Scheme in February. The FHLDS allows first home buyers to apply for loans with a smaller deposit (under 20%). Part of the loan is guaranteed to the lender by the Australian government. The lowest variable home loan rates in Australia in February (and currently listed on InfoChoice* on 3 February 2020) for owner-occupiers paying principal and interest repayments are listed in this table: You can compare these low-rate home loan deals with 1800 home loans at InfoChoice. The best mortgage rates in February 2020 The best mortgage rates are offered by the loans with the lowest comparison rates. Comparison rates on home loans are based on a 25-year loan of $150,000. Some of the best home loans now listed on InfoChoice include: Well Home Loans Well Balanced home loan with LVRs up to 90% has a rate of 2.92 per cent pa (comparison rate 2.96 per cent pa). Well has a rate of 2.72 per cent pa (comparison rate of 2.75 per cent pa) for loans with LVRs up to 80%. To find out more about Well Home Loan’s rates and fees, see InfoChoice. FreedomLend’s Owner Occupied Variable P&I home loan has a maximum LVR of 80% with a rate of 2.79 per cent pa (comparison rate also 2.79 per cent pa). FreedomLend has a full range of fixed and variable rate home loans for owner occupiers and investors. To find out more about FreedomLend’s home loan rates and fees, see InfoChoice. UBank’s UHomeLoan has a 2.84 per cent pa rate (comparison rate also 2.84 per cent pa) with no application or ongoing fees. To find out more about UBank’s home loan rates and fees, see InfoChoice. For refinancers, Athena Home Loans has an owner occupier Principal and Interest variable rate of 2.84 per cent pa (comparison rate 2.80 per cent pa). To find out more about Athena’s home loan rates and fees, see InfoChoice. HSBC Australia’s Home Value Loan – Owner Occupied has a variable rate of 2.95 per cent pa (comparison rate 2.97 per cent pa) with no monthly fees (other fees and charges may apply). To find out more about HSBC Australia’s home loan rates and fees, see InfoChoice. You can compare home loan rates and keep up to date with the latest property market outlook in Australia as well as the outlook for interest rates 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.