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What is a home loan interest rate?

It’s the cost of borrowing money. There's a lot of information out there on interest rates, but it can be hard to understand. This article will help you understand the types of interest rates and how they are calculated.

Wondering about comparison rates? They exist as a way to more easily compare home loan products between lenders. Comparison rates consider the extra fees associated with the home loan over its lifetime and factor those costs into your interest rate.

Found in:

  • Home loans explained

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Legal things about our rates
Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Tiimely Turnaround
^Our turnaround times are up to 2x faster than the industry, based on a comparison of our average platform submit to approval time compared to industry submit to approval time, published here  (June 2023). Customer turnaround times are dependent on individual circumstances and may require an assessor to obtain more information.

Our trade mark
Tiimely is a registered trademark of Tiimely Pty Ltd.