Some of the best home loans for investors and refinancers in August 2022

Refinancing has accelerated in recent months, with many mortgage holders seeking to switch to more affordable home loans after several months of rate hikes. While low rate home loans are getting much harder to find, there are still options available that could offer a lot of value to the right borrower.

Although finding a low interest home loan isn’t as easy as it used to be, the interest rate on a mortgage loan may not be the whole story. Fees, features and other benefits can also affect the overall value a mortgage deal can provide to borrowers in different financial situations, whether they are refinancing their family home or investing in a property.

RateCity’s Real Time Ratings™ break down the cost and flexibility of different home loan offers and combine them into one simple star rating. These ratings are used to create RateCity’s Home Loan Rankings, which rank mortgage transactions for different types of borrowers based on their Real-Time™ ratings. The highest-ranking home loans for the longest period may also become eligible for RateCity’s Gold Awards.

Some of the Best Refinance Home Loans

While home loans for refinancers are more likely to offer lower interest rates than some other home loan offers, they are also more likely to have stricter eligibility requirements, particularly regarding relates to the loan to value ratio (LVR). You’ll likely need to have at least 20% equity in your property to refinance without having to pay lender’s mortgage insurance (LMI), and you may need 30 or 40% equity to qualify for some offers offering the lowest rates and/or the most flexible features.

Standard Variable Home Loan

Winner of Best Home Loans Over 1m, Best Variable Home Loan, RateCity Gold Awards 2022

Winner of Best Home Loans Over 1m, Best Variable Home Loan, RateCity Gold Awards 2022

Freedom variable

Winner of Best Refinance Home Loan, RateCity Gold Awards 2022

Winner of Best Refinance Home Loan, RateCity Gold Awards 2022

Premium Pack Real estate loan

Momentum home loan

Winner of Best Refinance Home Loan, RateCity Gold Awards 2022

special

Special interest rate offer for loans approved or conditionally approved by September 30, 2022 ~ Ends with about 1 month

Winner of Best Refinance Home Loan, RateCity Gold Awards 2022

Some of the Best Variable Home Loans for Investors

Investors hoping to get a low fixed interest rate may face a challenge, but if you’re willing to accept a variable home loan, you may be able to start with a lower rate. You can also benefit from the flexibility offered by features such as a clearing account or a withdrawal facility, which provide options to manage your repayments.

Variable investment real estate loan

Winner of Best Investor Home Loan, RateCity Gold Awards 2022

Winner of Best Investor Home Loan, RateCity Gold Awards 2022

Momentum home loan

Winner of Best Investor Home Loan, RateCity Gold Awards 2022

special

Special interest rate offer for loans approved or conditionally approved by September 30, 2022 ~ Ends with about 1 month

Winner of Best Investor Home Loan, RateCity Gold Awards 2022

Premium Pack Real estate loan

Standard Variable Home Loan

Premium Home Loan Package

Some of the Best 2-Year Interest-Only Investor Home Loans

Although locking in a low fixed rate for a long period of time is no longer possible for most investors, another option could be to only pay fixed interest for about two years. This could allow an investor to minimize what they pay in the short term and keep their options open in the longer term. Of course, not repaying the principal of the loan can mean that it will take longer to pay off the property, and you could end up paying more interest in total over the long term.

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