First Home Buyers

Lowest Owner Occupied rates from

6.64%p.a. Variable

6.70%p.a. Comparison*

Up to 90% LVR plus LMI

    Leave your details and one of our Personal Finance Managers will contact you within one business day.


    Welcome to Reduce Home Loans. Awarded Australia’s Cheapest Home Loan by Money magazine 2016, 2017, 2018, 2019, 2020, 2021, and 2024

    Reduce Home Loans
    Based on 632 reviews
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    trevor robinsontrevor robinson
    15:43 20 Jun 24
    2 months of requesting document after document and poor response times to emails. I withdraw my application and went direct to a bank to cut out the middle man. What a waste of time and effort
    Darryl MurphyDarryl Murphy
    00:43 04 May 24
    Got a great rate and the team worked hard to get the job done. Kept us up to date the whole way through the process.
    We were so impressed with Ben Ithell, he is knowledgeable, patient and worked really hard getting us an amazing deal that 8 other brokers I called said they couldn’t even touch due to our unusual circumstances. Please give Ben a call and have a chat he is very honest and will tell you straight up if he thinks he can help. Highly recommend him!
    Sahn MillsSahn Mills
    00:47 17 Apr 24
    sara yuansara yuan
    03:52 18 Mar 24
    Working with Ben Ithell and his team was a great experience. The team was very knowledgeable and patient with my questions. They were always on time and reply my emails quickly.Excellent…I would give them my highest recommendation!
    Mark JohnstonMark Johnston
    01:37 06 Feb 24
    Ben Ithell was fantastic, laid all my options out for me. Got me good deal especially considering the unusual circumstances I was in. He kept me up to date, communicated well and was always available to help as I needed it.
    craig kimptoncraig kimpton
    10:02 18 Jan 24
    Professional staff that keep you well informed throughout the process, and provide great savings with lower rates.Ben Ithell was a pleasure to consult with, diligent and extremely professional throughout. Thanks Ben.
    vineet sagarvineet sagar
    08:06 16 Jan 24
    Vaughan Enright was great to deal with. Not only he is well versed with all the home loan technicalities, he also has soft skills to deal with not so knowledgeable people like myself. Communication was outstanding with emails/calls immediately being answered.
    Angie ChuAngie Chu
    11:16 09 Jan 24
    Thank you Reduce Home Loans! If we could give more than five stars, we would. Especially to Ben Ithell whose professionalism and help throughout the entire process was second to none. He is genuinely attentive, caring and a patient customer service/finance manager! We would certainly recommend him to anyone!
    Havea ValaHavea Vala
    16:41 08 Jan 24
    Jonathan DoddJonathan Dodd
    06:47 02 Jan 24
    Amazing experience, I cannot recommend this company or Kurt more. He found a path forward when multiple brokers (at other companies) could not make it work. Kurt does not mess around and I wholeheartedly recommend him if you need to get a loan.
    Alex JenkinsAlex Jenkins
    03:46 21 Dec 23
    I used Kurt Trendle from Reduce Home Loans when completing my refinance. I found him to be extremely helpful, patient and found the right loan for me. I found the whole process to be extremely easy with Kurt. Thanks again!
    Patrick SimonettiPatrick Simonetti
    13:25 22 Nov 23
    Kurt was excellent to deal with. Great customer service, very helpful and experienced. One of the best rates on the market.
    Kate EverettKate Everett
    08:27 08 Nov 23
    Exceptional customer service provided by Nick Freney in assisting us to navigate three separate loans. Wouldn’t hesitate in strongly recommending him to other prospect customers.
    Patrick DawsonPatrick Dawson
    05:55 30 Oct 23
    Just settled on my refinance with Vaughan at Reduce Home Loans. He made the process super easy and efficient. Was also great to be informed regularly throughout the entire process to put my mind at ease.Thanks 👍
    Rina WRina W
    23:27 28 Sep 23
    We have been with Reduce Home Loans since 2015 and they've consistently secured the best rates and account features for us. This month we refinanced to a very competitive rate thanks to our Personal Finance Manager Connor.Connor provided us with helpful guidance and thoroughly answered all our questions. Everything was completed promptly and he was so responsive with our queries. The application process has also become much more streamlined and user friendly over the years.Thanks to Connor (and previously Rhyse) at Reduce Home Loans, we've been able to achieve our dream of having a home for our family. We highly recommend them for their personalised, exceptional service and expertise, as well as their broad product offering. Thanks again!
    Dev GovekarDev Govekar
    23:10 24 Sep 23
    I have used Reduce Home Loans recently. I have dealt with Vaughan from Reduce Home Loans. I find Vaughan very helpful and easy to approach. I think they have great knowledge and great interest rates options and cash back offers. I will recommend to seek their advice for new home loans. Thanks, Dev
    Hin LHin L
    06:42 07 Sep 23
    Zachary has been fantastic through out the whole process.
    James ZhangJames Zhang
    07:43 21 Aug 23
    Kurt was phenomenal, very knowledgable, patient and communicative across the entire process. Can't recommend them highly enough.
    Melanie MaclureMelanie Maclure
    04:35 10 Aug 23
    Vaughan Enright has been an absolute pleasure to deal with. He is always extremely responsive and helpful, listens to my needs, and has been working with me to get the best he can. He has been reliable, getting back to me quickly, calling when he says he will (great timekeeper). Very happy with the experience as I initially called 3 or 4 months ago, he has been very informative from tyre kicking/semi serious stage to now at crunch time. Definitely recommend working with him.
    Wendy ReevesWendy Reeves
    02:23 03 Aug 23
    I have used Reduce Home loans several times to refinance our loan. I cannot recommend them highly enough. They are extremely knowledgeable and have access to highly competetive interest rates. Their communication throughout the loan application process is excellent and it is very easy to get in touch with them when you need to. Definitely use Reduce!
    Brad GosbellBrad Gosbell
    07:41 21 Mar 23
    Nick and the team never fail to impress and always achieve better than expected results. With a great network of lenders and products they always manage to deliver, keeping you well informed along the journey. Always know I am in capable hands and a achieving the best of what's out there.I cannot recommend Reduce highly enough. 11 out of 10! Keep up the good worm 👍
    Richard WRichard W
    04:34 20 Mar 23
    Prompt customer service and staightforward process. Access to great rates. Clear communication. Loan settled without problems and would definitely use them again.
    Kumbi MKumbi M
    04:06 20 Nov 22
    We have been working with Reduce Home Loans for a few years now. We have done some refinancing of home loans and have applied for new home loans with Reduce Home Loans. Each and every time we managed to get some awesome deals, lowest variable rates available on the market. I highly recommend Reduce Home Loans. We will definitely use them again in future!!
    Michelle DavisMichelle Davis
    21:15 15 Sep 22
    Nick Freney, from reduced home loans, was fantastic. He made the whole process of refinancing my house loan, hassle free and also got me a great interest rate. I can't recommend Nick and his team highly enough.
    Goran MaricGoran Maric
    03:46 15 Sep 22
    Reduce were very easy to work with, and they got us the lowest variable rate on the market - which is saving us thousands each year.Highly recommend. We'll definitely go with them again in the future.
    David ElmerDavid Elmer
    10:05 30 Aug 22
    Overall, we are happy with our experience at Reduce. We moved from another non-bank lender, who wouldn't move our rate, despite their new owner rates being much lower, and our loans under what we originally borrowed. Nick and the team from Reduce were very easy to deal with, and our rate has been competitive since we started with them.
    Jon McilveenJon Mcilveen
    06:52 11 Aug 22
    Just refinanced with Reduce Home Loans. Better interest rates, staff have been nothing but helpful and easy process. Can't ask for more!
    Chris LimChris Lim
    07:55 04 Aug 22
    I had a fantastic experience dealing with Reduce Home Loans who provided finance for my SMSF to purchase an investment property in July 22. I was particularly impressed with Bryce Stimpson's helpfulness, knowledge, responsiveness, professionalism and pleasantness. I received an excellent rate and am happy I went with Reduce.
    Peta GeakePeta Geake
    02:41 04 Aug 22
    Using reduce loans has saved me a lot of money on our home loan. The staff are professional and caring, always easy to get in contact with and there to help with any questions you. The switch from one of the big 4 banks (wont name names of who was ripping us off!) was easy with reduce loans. I highly recommend anyone to get in contact and see how many money they can save you.
    Amanda BeresfordAmanda Beresford
    20:09 16 Jun 22
    Reduce Loans were able to find us a much better home loan rate. The process was so easy and we were walked through every step. Everything was done online and the whole process was handled quickly. I would highly recommend working with Reduce Loans.
    Matt HingstonMatt Hingston
    00:42 16 Jun 22
    We secured a great loan with Reduce far below market rates of the large lenders. Was particularly impressed by their flexible banking style in setting up the loan and Nick Freeney was great to work with in the loan application. The only issue is the application process was longer and more admin intensive than some other loans so removing one star - but if you stick with it you can save a bunch over the life of the loan.

    Settle down in your first home

    Ready to buy your First Home? No doubt, you’re excited to take the first step in achieving the Australian Dream of owning your own home. There’s no other feeling like settling down in your very own home.

    Before you dive in, crunch the numbers or simply give us a call and find how you can achieve a low rate home loan. First Home Buyers can be eligible for the First Home Owner Grant (FHOG). See how much Stamp Duty you could save as a First Home Owner at our Stamp Duty Calculator.

    There’s a lot to consider: Variable or fixed? Invest or live-in? Never fear, Reduce is here to guide you every step of the way.

    First home buyer - Reduce Home Loans

    Preparing to buy a home for the first time? Congratulations on achieving the Australian Dream. Searching for, and then moving into, your first home is exciting.

    At Reduce Home Loans, we’re here to make sure you get the best home loan for your needs and dreams.

    You may be eligible for the First Home Owner Grant (FHOG). Use our Stamp Duty Calculator and find out how much you can save.

    Contact our award-winning team with any questions you have about your home loan. Read on for our guide to home loans for first-time buyers.

    Which type of home loan is best – Variable rate or fixed rate?

    Both types of home loans have their benefits and risks:

    Variable rate home loans

    As the name suggests, your mortgage interest rate, and your repayments, can vary, normally depending on the lending interest rate determined by the Reserve Bank of Australia (RBA). Your interest rates will be lower than for a fixed-price home loan but you have the risk of your repayments increasing each time the lending rate increases.

    Variable Rate Loans

    Rate Slasher 90

    p.a. Variable 
    p.a. Comparison
    • $0 upfront fees!
    • Up to 90% LVR plus LMI
    • Full redraw facility
    • 100% Offset available
    • Available for construction

    Capitalizer Variable

    p.a. Variable 
    p.a. Comparison
    • Up to 90% LVR 
    • 100% Offset available
    • $0 monthly or annual fees!

    Fixed-rate home loans

    Your repayments are fixed for a period of 1 to 5 years. Your interest rate is often higher than those with a variable rate home loan but, if the RBA increases the variable lending rate, your payments will be unaffected for the duration of the loan. The risk, with a fixed rate loan, is if the variable interest decreases, your fixed-rate won’t and you could be paying more than if you had a variable rate loan. At the end of the fixed rate loan period, you will normally switch to a variable rate mortgage.

    Home Owners Dream Fixed Rate Loans

    $2,000 up to $10,000 Cash Back available

    1 Year Fixed Cash Back

    p.a. Fixed 1 year
    p.a. Comparison
    • Loan splits available
    • Offset Account available
    • Borrow up to $1,000,000

    2 Years Fixed Cash Back

    p.a. Fixed 2 years 
    p.a. Comparison
    • Loan splits available
    • Offset Account available
    • Up to 90% LVR

    3 Years Fixed Cash Back

    p.a. Fixed 3 years 
    p.a. Comparison
    • Borrow up to 90% LVR
    • Offset account available
    • Limited extra repayments

    First Home Buyers Guide

    Find out more:

    • First Home Buyer basics
    • Finding the right property
    • How to get approved for a home loan
    • How to win at the auction
    • Avoiding common first home buying mistakes

    Investment property or first home for you and your family?

    When you borrow the funds to buy a home for the first time, we will always get you the best deal we can. However, there are differences between buying a property as an investment, an asset you hope will generate a rental income and buying a property you intend to live in. 

    These differences are reflected in various grants and schemes available and the risk rating applied to the loan depending on which type of first-time buyer you are. Make sure you contact our friendly team with any doubts or questions.

    Home loans – offers, features and extras

    Home loans include many options to make a particular package attractive and to provide you with a great deal. We will simplify some of these here:

    Loan to Value Ratio (LVR)

    The LVR represents the percentage of the price of the house the lender will provide finance for. As an example, if a house is valued at $200,000 and the lender has an LVR of 80%, they will provide you with $160,000. You will need to provide a deposit of $40,000.

    A low LVR often means you will be able to borrow more while a higher LVR means the loan will be offered at a higher interest rate.

    Offset Account

    An offset account offers you the chance to reduce the amount of interest you pay. You might have your wages paid into an “offset” account. The balance of the offset account is deducted from the outstanding home loan when the interest due is calculated. You will pay less interest on your home loan as long as your offset account has a positive balance

    Cash back loans

    Cash back home loans, as the name suggests, provide you with a cash sum. The value is calculated as a percentage of the loan amount. You are free to spend the cash for any purpose. 

    This can be a benefit if you need to buy furniture or spend on home improvements but note these loans often have higher interest rates.

    Extra Repayments

    Making extra repayments will enable you to clear the loan more quickly. There is normally a maximum amount you may repay each year and be sure to check there are no penalties involved.


    “Redraw” enables you to withdraw cash up to the value of your extra repayments. Often useful for unexpected or urgent expenses.

    Loan splits

    You have the option to split the amount you borrow across variable and fixed-rate loans. Your lender may have a set ratio for split accounts (60/40 variable and fixed rate, for example) and note fixed rate accounts will have a higher interest rate and a set duration.

    Ask the experts

    At Reduce Loans, we want to be sure you get the best value home loan for your circumstances. As a first-time buyer, we understand you will have questions and we are always ready to help.

    Want to buy, but haven’t found a place yet?

    Get your finance pre-approved and be ready to buy.

    Apply for a pre-approval

    First Home Investment

    It’s not uncommon for someone to buy an investment property as their first house. Here’s our most popular loan for keen investors.

    See all of our investment options.

    Investor Rate Slasher Special


    Variable pa


    Comparison pa

    • Optional offset account
    • $0 ongoing fees!
    • Up to 90% LVR*

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