Top 10 Home Loan Providers in NSW: Compare Rates & Features

Finding the right home loan providers can make all the difference in how much you pay over the years. With so many options—major banks and non-bank lenders—choosing the right mortgage lender matters because it impacts your interest rate, repayment flexibility, and overall financial stability. 

Our brokers at Mortgage Brokers Northern Beaches help borrowers compare different loans and lenders, uncover exclusive deals, and match them with the best loan for their situation. We simplify the process by handling paperwork and negotiating better terms, ensuring our clients make informed decisions. 

Below, we compare the top 10 home loan providers in New South Wales to help you find the best fit for your financial and homeownership goals. 

Banks vs. Non-Bank Lenders: What’s the Difference?

When exploring home loan providers, you’ll come across traditional banks and non-bank lenders—each offering distinct benefits.

• Banks are well-established financial institutions that provide home loans along with other banking services. They have stricter lending criteria but offer stability, competitive loan packages, and in-person branch support.
• Non-bank lenders focus solely on lending and operate without a banking license. They often provide lower interest rates, flexible loan terms, and faster approvals, making them a strong alternative for borrowers who may not qualify with traditional banks.

Both types of home loan providers have their advantages, and the right choice depends on your financial situation and borrowing needs.

Which Is Better for You?

The best lender for you depends on factors like your credit score, income stability, and need for flexibility. Below is a quick comparison to help you decide:

Banks: Pros & Cons

✅ Competitive loan packages for existing customers
✅ Access to in-branch support & financial services
✅ Stability and strong regulatory oversight
❌ Stricter lending criteria and approval process
❌ Higher fees and slower processing times

Non-Bank Lenders: Pros & Cons

✅ Lower interest rates & fewer fees in many cases
✅ More flexible lending criteria (great for self-employed borrowers)
✅ Faster loan approvals with digital-first services
❌ No physical branches for in-person support
❌ May have less long-term stability than major banks

Both home loan providers offer valuable options—choosing the right one depends on your financial goals and borrowing situation.

Top 10 Home Loan Providers in New South Wales

With numerous home loan providers in NSW, it’s essential to compare both traditional banks and non-bank lenders to find the best option. Below, we break down the top 10 lenders, their current interest rates, key features, and what makes them stand out.

Traditional Banks

#1  Commonwealth Bank of Australia (CBA)

• Fixed Rate: From 5.89% p.a. (7.80% comparison rate)
• Variable Rate: From 6.34% p.a. (6.72% comparison rate)
• Key Features: Offset accounts, extra repayments, flexible loan terms
• Lender Highlights: Australia’s largest bank with strong customer service, advanced digital banking, and tailored loan packages.

#2  Westpac

• Fixed Rate: From 5.89% p.a. (7.45% comparison rate) (2-yr rate)
• Variable Rate: From 6.44% p.a. (6.76% comparison rate) 
• Key Features: Special first-home buyer incentives, competitive package discounts, interest rate reductions for bundled products.
• Lender Highlights: Great loan options for first-home buyers and investors, plus a strong branch presence across NSW.

#3  National Australia Bank (NAB)

• Fixed Rate: From 5.89% p.a. (6.62% comparison rate) (3-yr rate)
• Variable Rate: From 6.44% p.a. (6.48% comparison rate) 
• Key Features: Low-deposit home loans, cashback offers for refinancers, personalised loan structuring.
• Lender Highlights: Competitive refinancing deals and flexibility with split-loan options.

#4  ANZ

• Fixed Rate: From 5.74% p.a. (6.94% comparison rate) (2-yr rate)
• Variable Rate: From 7.24% p.a. (7.24% comparison rate) 
• Key Features: Offset accounts, multiple repayment options, quick pre-approvals
• Lender Highlights: Fast online application process and great options for property investors.

#5  Macquarie Bank

• Fixed Rate: From 5.55% p.a. (6.05% comparison rate) (2-yr rate)
• Variable Rate: From 6.14% p.a. (6.16% comparison rate)
• Key Features: Strong digital banking, low ongoing fees, flexible repayment options
• Lender Highlights: Lower fixed rates than the Big 4 banks and a seamless online experience.

Non-Bank Lenders

#6  Pepper Money

• Fixed Rate: From 6.84% p.a. (7.02% comparison rate) (2-yr rate)
• Variable Rate: From 6.84% p.a. (7.02% comparison rate)
• Key Features: Specialises in loans for self-employed and borrowers with non-traditional incomes, flexible approval process
• Lender Highlights: Great for those with credit history issues or unique financial situations.

#7  Resimac

(Variable Only Lender)

• Variable Rate (Prime - Full Doc Loans, Owner-Occupier P&I): From 6.44% p.a. (6.49% comparison rate)
• Variable Rate (Prime - Full Doc Loans, Investor P&I): From 6.74% p.a. (6.79% comparison rate)
• Variable Rate (Specialist Loans - Credit Issues, Owner-Occupier P&I): From 7.19% p.a. (7.25% comparison rate)
• Variable Rate (Specialist Loans - Credit Issues, Investor P&I): From 7.49% p.a. (7.55% comparison rate)
• Variable Rate (Low-Doc Loans, Owner-Occupier P&I): From 6.84% p.a. (6.89% comparison rate)
• Variable Rate (Low-Doc Loans, Investor P&I): From 7.14% p.a. (7.19% comparison rate)
• Key Features: Flexible lending criteria, low-doc options for self-employed borrowers, strong investor loan options
• Lender Highlights: Offers competitive rates for non-traditional borrowers and investors needing alternative lending solutions.

*Check lender websites for real-time updates.

#8  Athena Home Loans

• Fixed Rate: From 6.29% p.a. (6.25% comparison rate)
• Variable Rate: From 6.24% p.a. (6.24% comparison rate)
• Key Features: No fees for extra repayments, automatic rate reductions for loyal customers
• Lender Highlights: One of the most customer-friendly lenders with transparent pricing and no hidden fees.

#9  Tiimely Home

• Fixed Rate: From 5.99% p.a. (6.04% comparison rate)
• Variable Rate: From 5.99% p.a. (6.00% comparison rate)
• Key Features: 100% online application, fast pre-approvals, competitive owner-occupier rates; Fast online application, no application or ongoing fees, backed by Bendigo and Adelaide Bank.
• Lender Highlights: Speedy digital processing and great refinancing options.

#10  Firstmac

• Fixed Rate (Owner-Occupier P&I, 1-3 years): From 5.95% p.a. (6.10% comparison rate)
• Variable Rate (Owner-Occupier P&I, <80% LVR): From 6.19% p.a. (6.25% comparison rate)
• Variable Rate (Investor P&I, <80% LVR): From 6.49% p.a. (6.55% comparison rate)
• Key Features: Strong investor loan options, flexible loan structures, discounted rates for low LVR loans
• Lender Highlights: A strong choice for property investors looking for flexible lending solutions.

*Rates are indicative as of 2024 and early 2025 and may vary based on loan amount, LVR, and borrower profile. Check lender websites for real-time updates or consult with an experienced mortgage broker.

FAQs

How do I choose the best home loan provider in NSW?

Choosing the right loan lender depends on factors like competitive interest rate, loan features, and whether you prefer a bank, credit union, or online lender. It's essential to compare fixed-rate home loans, variable home loan rates, fees, and repayment types to ensure you get the best deal.

What is the difference between fixed-rate and variable home loans?

A fixed-rate home loan locks in the loan interest rate for a set period of time, ensuring actual repayments remain stable. A variable home loan rate fluctuates with the loan market, which may provide cost savings if interest rates drop but can also increase monthly repayments if rates rise.

How can I increase my borrowing capacity for a home loan?

Your borrowing capacity is influenced by factors like income, expenses, and existing debts, including personal loans and credit cards. Reducing debts, increasing savings, and maintaining a strong credit score can improve your eligibility when applying for credit home loans.

Do I need Lenders Mortgage Insurance (LMI)?

Lenders Mortgage Insurance (LMI) is required if your deposit is less than 20% of the loan size, protecting the loan lender if you default. Some Australian lenders may waive LMI for eligible professions or offer loan products with lower deposit requirements.

What are the different loan types available?

There is a wide range of loan types, including investment property loans, construction loans, and personal loans. Consulting with loan specialists can help you find the right financial product based on your needs and financial goals.

How do additional repayments help reduce my loan?

Making additional repayments on your home loan reduces the principal faster, leading to cost savings over the loan journey. Some loan products offer flexible repayment types, such as extra repayments without penalties, helping borrowers pay off their loans sooner.

Are there any hidden costs when taking out a home loan?

Many loans come with fees like application fees, valuation fees, and exit fees, which can impact your loan comparison rates. It's crucial to review all associated costs before committing to a lender to ensure you understand the actual repayment figures.

Should I use a mortgage broker or go directly to a lender?

Mortgage brokers provide personalised service by comparing the entire market, including banks, credit unions, and online lenders, to find the lowest interest rate and best loan for your situation. Direct lenders, on the other hand, may only offer their own loan products, which limits your options.

Find the Right Home Loan Provider with Expert Guidance

Choosing the right home loan provider can be overwhelming, but you don’t have to do it alone. At Mortgage Brokers Northern Beaches, we compare the entire market, from major banks to online lenders and credit unions, to find the best loan products, competitive interest rates, and flexible loan features that suit your needs.

With a leading loan success rate and 5-star Google reviews, we make your loan journey smooth and stress-free. Whether you’re after the lowest rates, need help with borrowing capacity, or want expert guidance on repayment types, we’re here to help.

Visit our website or call us today at 0403 316 686 to speak with our expert brokers and take the next step toward your dream home!