loans.com.au Variable Home Loan Review (2026)
Rates and details verified 17 May 2026
Rates can change without notice. Last verified: 17 May 2026 (AEST). Please confirm details on the bank’s official page.
Interest rate
6.04%
p.a. variable
Comparison rate
6.08%
p.a.
Max LVR
90%
10% deposit
How loans.com.au Works
loans.com.au is an Australian online lender offering variable rate home loans with no monthly or ongoing fees. Their variable rate of 6.04% p.a. is higher than the other lenders in this comparison, but their key point of difference is a maximum LVR of 90% — meaning borrowers only need a 10% deposit.
Most lenders in the sub-6% tier cap LVR at 70–80%, locking out borrowers who haven't yet saved a 20% deposit. For first-home buyers or recent buyers with smaller deposits, loans.com.au's 90% LVR may justify the higher rate.
An offset sub-account is available for an additional 0.10% p.a. (taking the rate to 6.14% p.a.) for borrowers who want to reduce interest through offset savings.
Key Rates and Features
| Feature | Detail |
|---|---|
| OO P&I (≤90% LVR) | 6.04% p.a. (comp. 6.08%) |
| Investment P&I | Not published — contact lender |
| Interest-only (IO) | Not published — contact lender |
| Max LVR | 90% (10% deposit) |
| Monthly/ongoing fees | None |
| Offset account | Optional +0.10% p.a. |
| Application | Online |
Rates as at 17 May 2026. Check loans.com.au's website for the latest.
Pros and Cons
Pros
- ✓ Up to 90% LVR — 10% deposit accepted
- ✓ No monthly or ongoing fees
- ✓ Offset sub-account available (at +0.10%)
Cons
- ✗ 6.04% p.a. — highest rate in this comparison
- ✗ Offset comes at an extra 0.10% p.a. cost
- ✗ Online only — no branch access
How It Compares
- Pacific Mortgage Group: 5.59% p.a. (comp. 5.59%), 80% LVR
- People's Choice Basic Variable: 5.64% p.a. (comp. 5.65%), 70% LVR
- Unloan Variable: 5.69% p.a. (comp. 5.60%), refinance only
- Up Home Variable: 5.70% p.a. (comp. 5.70%), 100% offset free
- loans.com.au Variable: 6.04% p.a. (comp. 6.08%), up to 90% LVR
loans.com.au's 6.04% is the highest in this group, but the 90% LVR makes it the only option here for borrowers with a 10–19% deposit. For those with a 20%+ deposit, the other lenders offer better rates.
FAQs
What is the interest rate?
6.04% p.a. variable (comparison rate 6.08% p.a.). Add 0.10% p.a. if you want an offset sub-account.
Can I borrow with a 10% deposit?
Yes — loans.com.au allows up to 90% LVR. Note that loans above 80% LVR typically require Lenders Mortgage Insurance (LMI).
Are there monthly fees?
No monthly or ongoing fees on the standard variable. The offset sub-account option costs an additional 0.10% p.a. on your interest rate.
Comparison rate based on a $150,000 loan over 25 years. Warning: 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 may result in a different comparison rate. Information verified 17 May 2026. Confirm rates, fees, and eligibility on loans.com.au's website before applying. This is not financial advice.