Rate
Basic home Loan
-% p.a.Variable and comparison rate
Standard home Loan
-% p.a.Variable and comparison rate
Access additional payments made at no cost
Making fee free additional payments to pay your loan back faster.
Reduce the amount of interest you pay by using an offset account.
See all our interest rates here.
Features and benefits you'll like
Competitive rates
Enjoy our competitive rates.
Offset and redraw facilities available
Our standard home loan comes with fee-free access to a redraw facility and offset account.
Flexible repayment options
Pay off your loan faster by making fee-free additional repayments.
Fast approval
Provided we’re able to verify your identity online and you meet our lending criteria, we’ll be able to issue you with conditional approval instantly.
Why choose Challenger
Buying a home, refinancing or need to renovate?
Make your dream home a reality with a Challenger home loan. Choose the loan that’s right for you – a basic low rate or a loan with the benefit of an offset account.
General information
We’ll waive your:
- application fee
- mortgage documentation fee, and
- valuation fee.
Our standard home loan comes with fee free access to a redraw facility and offset account
Refinancing fees and charges may apply, such as exit fees from your current provider.
For a full list of fees and charges, please view our Schedule of Fees and Charges.
| Lending product | Deposit¹ | Rate² | Comparison rate³ |
|---|---|---|---|
|
Basic home loan (Owner occupied) |
>40% | 5.89% p.a. | 5.89% p.a. |
| >30% | 5.94% p.a. | 5.94% p.a. | |
| >20% | 5.99% p.a. | 5.99% p.a. | |
| <19.99% | 6.19% p.a. | 6.19% p.a. | |
|
Standard home loan (Owner occupied) |
>40% | 6.19% p.a. | 6.19% p.a. |
| >30% | 6.24% p.a. | 6.24% p.a. | |
| >20% | 6.29% p.a. | 6.29% p.a. | |
| <19.99% | 6.49% p.a. | 6.49% p.a. | |
|
Standard home loan (Investor) |
>40% | 6.49% p.a. | 6.49% p.a. |
| >30% | 6.54% p.a. | 6.54% p.a. | |
| >20% | 6.59% p.a. | 6.59% p.a. | |
| <19.99% | 6.99% p.a. | 6.99% p.a. | |
|
Standard home loan (Investor, interest only) |
>40% | 6.79% p.a. | 6.79% p.a. |
| >30% | 6.84% p.a. | 6.84% p.a. | |
| >20% | 6.89% p.a. | 6.89% p.a. | |
| <19.99% | 7.49% p.a. | 7.49% p.a. |
- Where your deposit is less than 20%, Lenders Mortgage Insurance (LMI) will apply with the cost covered by the borrower. Loan approval by Challenger is subject to LMI being approved by our insurer.
- All interest rates are variable and subject to change. All repayments are principal and interest, except for the Interest only investment loan. Home and investment loan rates are available for new home purchases and refinancing of existing loans. Minimum borrowing amount $200,000. The standard variable rate as at 22/11/2023 is 7.80% p.a.
- For home and investment lending the comparison rate is calculated on $150,000 loan over 25 years. This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Online applications take less than 20 minutes to complete.
Provided we’ve been able to verify your identify online and you meet our lending criteria, we’ll be able to issue a conditional approval instantly.
To apply for a loan, you need to:
be 18 years or older
an Australian citizen or permanent resident, and
currently employed.