Home Loans
Compare the best home loans and mortgage interest rates using our free rate comparison service. We've rated the top loans to save you money whether you're a first home owner, refinancing, or purchasing an investment property. Finding the best mortgage rate starts at CANNEX. A home loan, or mortgage, is an amount of money borrowed from a financial institution for the purpose of buying a property. The money, along with interest accrued, is then repaid to the lender over a contracted period of time. Special types of home loan include low-doc, and reverse mortgage. Read more ...
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Australia | New Zealand
Home Loan Guide
Star Ratings
Star Ratings are a guide to help you if you are shopping for a new home loan, or simply wish to find a home loan product that represents superior value for money. Only the top home loans are given a Five Star rating.
- Download Home Loan Star Ratings
- Download Home Loan Star Ratings
(sorted by company) - View Package Banking Star Ratings for Home Buyer, Investor or Self-Employed
- Download Package Banking Star Ratings
Learn about home loans
Special types of home loan
- Low-Doc
These loans suit self-employed people. - Reverse Mortgage
For retirees who need some extra cash.
Star Ratings Library
Looking for a previous home loan star ratings report? The Star Ratings Library lets you find the best rates, features, and star ratings from previous home loan reports.
Visit the Star Ratings Library!
CANNEX star ratings are a benchmark to help you compare financial products based on their rates and features.
Only the top 5% of products are awarded the prestigious five star status.
Home Loan Rates
This graph shows the changes in interest rates for variable-rate home loans over the last 3 months.
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First Home Buyer Awards - NEW!
26 May 08: Westpac Wins National First Home Buyer Award
The Australian dream of buying a home continues to take a battering at the hands of inflation, record high interest rates and house prices, stock market volatility and the global credit crunch.
For this award CANNEX rated over 2,200 loans from 165 lenders. CANNEX reviewed printed and web-based educational material, the processes involved, and the level of access to a real person, to provide that guiding hand and to reassure that the first-time buyer is on track.
CANNEX is awarding its inaugural First Home Buyer award to Westpac for its outstanding service to Australian first home buyers. Click below for the full story, including state winners.
View the First Home Buyer Awards 2008!
Home Loan Videos
First Home Buyer Awards |
"Good debt VS bad debt" |
Home Loan Articles
Rent or Buy? The Great Housing Dilemma! |
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Buying and renting are both becoming more complicated but sooner or later, you will arrive at the point where you need to make the big decision to remain renting or buy a home of your own. More ... |
Five Step Guide to Home Ownership |
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For would-be first home owners, setting a savings goal for a few years in advance is a must. Do a budget and work out what you can afford to save. After all, there's no point setting your heart on a mansion if you can only afford a cottage. As a general guide, your mortgage repayments should not exceed 30% of your before-tax income. More ... |
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CANNEX Comments
Do you really need an offset account? |
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"Offset accounts allow you to effectively live off funds stored in your home loan offset account, with the benefit being that funds in this account offset interest on the home loan. But be aware, if you're not the type to ever have a spare cent in your account, this could be of little benefit to you. Since loans with an offset account typically cost more, make sure you really need it before you sign up!" - Steven Mickenbecker, CANNEX Head of Research, Product and Strategy. |
The early years of your home loan are critical |
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"Experts agree that one of the best ways to pay off your home loan sooner is to make extra repayments in the early years of the loan period. Say for example you have a 30 year loan. In the first 5 years if you can make lots of extra repayments, there is generally a huge saving on interest charges. Try our lump sum repayment calculator, you'll be surprised at the savings!" - Frank Lopez, CANNEX Financial Analyst. |