Home Loans in Victoria (VIC) - Compare Rates from 70+ Lenders

Q: What is the average home loan interest rate in Victoria in 2026?

In Victoria, the average variable home loan interest rate for owner-occupiers paying principal and interest is approximately 6.78% as of 2 November 2026. The lowest variable rates available to Victorian borrowers start from 5.93% p.a. (6.28% comparison rate) from online lenders. Fixed rates start from 6.09% p.a. (6.24% comparison rate). These rates assume an 80% loan-to-value ratio on a standard owner-occupier loan. Rates may vary depending on the loan amount, LVR, and whether the property is in Melbourne metro or regional Victoria.

Q: Which banks offer the best home loan rates in Victoria?

In Victoria, the best home loan rates as of 2026 come from a mix of online and traditional lenders. Unloan (backed by CommBank) offers a competitive variable rate with offset and redraw. Athena offers a competitive rate with automatic rate matching. Among the major banks, ING leads, followed by Macquarie and CommBank. For fixed rates, Unloan leads on 3-year fixed. All major banks and most non-bank lenders operate across all Victorian postcodes, including Melbourne, Geelong, Ballarat, Bendigo, and regional areas.

Q: How much can I borrow for a home loan in Victoria?

Your borrowing capacity in Victoria depends on your income, expenses, existing debts, and the property you are purchasing. APRA requires lenders to assess repayment capacity at the loan rate plus a 3% buffer. On a household income of $150,000, a typical borrower can borrow approximately $680,000 after the buffer is applied. APRA's DTI limits from February 2026 cap high-DTI lending, meaning borrowers with a debt-to-income ratio above 6x face stricter scrutiny. Given Melbourne's median house price of $930,000, a dual-income household typically needs combined income of $170,000+ to borrow enough for a median-priced Melbourne home with a 20% deposit.

Q: How much deposit do I need for a home in Melbourne?

To purchase a home in Melbourne at the median house price of approximately $930,000, you would ideally need a 20% deposit of $186,000 to avoid paying Lenders Mortgage Insurance (LMI). The minimum deposit most lenders accept is 5%, which is $46,500 for a $930,000 property, but LMI will add $15,000-$35,000 to your costs. First home buyers in Victoria can access the First Home Guarantee scheme with just a 5% deposit and no LMI, or the Help to Buy shared equity scheme with a 2% deposit. Regional Victoria properties with a median of approximately $480,000 require a 20% deposit of $96,000.

Q: What government grants are available for first home buyers in Victoria?

First home buyers in Victoria can access several government grants and schemes. The Victorian First Home Owner Grant (FHOG) provides $10,000 for new homes valued up to $750,000. First home buyers are exempt from stamp duty on properties up to $600,000 and receive a concession on properties between $600,000 and $750,000. The federal First Home Guarantee allows 5% deposits without LMI (unlimited places and no income cap since October 2025). The Help to Buy shared equity scheme requires just a 2% deposit. The Victorian Homebuyer Fund has closed to new applications; the federal Help to Buy scheme is now the shared equity option for new buyers.

Q: What is stamp duty on a $900,000 property in Victoria?

Stamp duty on a $900,000 property in Victoria is approximately $49,070 for a standard purchaser, calculated under the sliding scale rates. First home buyers in Victoria are fully exempt from stamp duty on properties valued up to $600,000 and receive a concessional rate on properties between $600,000 and $750,000. Victoria is the only Australian state transitioning to an annual property tax model - properties purchased from 1 July 2024 by commercial and industrial buyers may pay annual land tax instead of upfront stamp duty. For residential first home buyers, the traditional stamp duty exemptions still apply.

Q: What is the Victorian Homebuyer Fund?

The Victorian Homebuyer Fund was Victoria's shared equity scheme, where the government contributed up to 25% of the purchase price (35% for Aboriginal and Torres Strait Islander buyers). It has closed to new applications and, for new buyers, has been replaced by the federal Help to Buy scheme, which contributes up to 40% of a new home or 30% of an existing home. Existing fund participants keep their arrangements.

Q: Is Victoria transitioning away from stamp duty?

Victoria is the only Australian state actively transitioning toward an annual property tax model to replace stamp duty. From 1 July 2024, commercial and industrial property buyers can opt to pay an annual land tax instead of upfront stamp duty. For residential properties, the traditional stamp duty system still applies, although the Victorian Government has signalled its intention to expand the annual tax model to residential purchases in future. This transition could benefit buyers who plan to hold property for shorter periods, as the annual tax may be lower than the lump-sum stamp duty over the first 10-15 years of ownership.

Q: What are the hidden costs of buying a home in Victoria?

Beyond the purchase price and stamp duty, buying a home in Victoria involves several additional costs. Conveyancing or legal fees typically run $1,200-$2,500. Building and pest inspections cost $400-$700. Loan application fees range from $0-$600. Lenders Mortgage Insurance (LMI) applies if your deposit is below 20% and can cost $8,000-$35,000 on a Melbourne property. Title registration with Land Use Victoria is approximately $120-$150. Section 32 (vendor's statement) review is included in conveyancing. Council and water rates are adjusted at settlement. Moving costs average $400-$1,500 depending on distance. Budget an additional 3-5% of the purchase price for these costs.

Q: What is the median house price in Melbourne in 2026?

The median house price in Melbourne is approximately $930,000 as of early 2026, according to CoreLogic data. Melbourne is Australia's second most expensive capital city market after Sydney. The median unit price in Melbourne is approximately $620,000. Across broader metropolitan Melbourne, prices range significantly by suburb - from $500,000-$650,000 in outer western suburbs like Melton and Wyndham to over $2 million in inner-east suburbs like Toorak, Hawthorn, and Malvern. Melbourne property values grew approximately 1.5% over the 12 months to September 2026, underperforming most other capitals due to higher supply levels.

Compare home loan rates available to Victorian borrowers. Melbourne metro median property price is ~$930K, regional Victoria ~$480K. Find the best deal for your situation.

Rates updated 2 November 2026

Loan purpose

Repayment type

Loan amount

100% free. No impact on your credit score. Default loan amount based on 80% LVR on Melbourne median.

Where Victoria home loan rates sit today

Rates rising

4.60%

RBA Cash Rate

Up from 4.35% - 29 Sept 2026

$744K

Median New Loan

Melbourne benchmark

From 6.09%

Lowest Fixed Rate

6.24% comparison rate

The RBA has lifted the cash rate to 4.60% (up from 4.35%) and Melbourne’s median new mortgage sits around $744K. With variable rates currently lower than fixed, a variable loan is cheaper today but moves with each RBA decision. Victorian borrowers can compare lenders to find the best deal on new loans and refinances.

70+ lenders in VIC Updated daily 100% free service Melbourne & regional VIC

Victoria Home Loan Key Facts

VIC at a glance · 2026

6.78%

Avg variable rate

Owner-occ · lowest 5.93%

$930K

Melbourne median price

Regional VIC ~$480K

$620K

Average loan size

2nd highest nationally

$50,870

Stamp duty (median)

Standard buyer · $930K home

FHB stamp duty exemption

Up to $600K (exempt); concessional rate $600K-$750K.

Key VIC features

Only state transitioning to annual land-tax model for new purchases, Help to Buy shared-equity scheme (Homebuyer Fund closed to new applicants), HomeBuilder legacy impacts.

Sources: CoreLogic, RBA Table F6, ABS Lending Indicators, State Revenue Office Victoria. Data as of 11 September 2026.

Best Home Loan Rates in Melbourne and Victoria

Rates shown are available to Victoria borrowers. Some lenders have postcode restrictions in remote regional areas. Monthly repayments are estimated based on a $930K property with 20% deposit ($744,000 loan) over 30 years.

Lender	Product	Rate (p.a.)	Comparison Rate	Monthly ($744K/30yr)	Features
SCCU	EMONEY HOME LOAN	5.93%	6.28%	$4,427	Offset, Redraw
SCCU	BROKER HOME LOAN	5.93%	6.28%	$4,427	Offset, Redraw
NORTHERN INLAND CREDIT UNION LTD.	Value Home Loan - Owner Occupied	5.94%	5.98%	$4,432	Redraw, Digital banking
The Mutual Bank	Budget Home Loan	6.04%	6.04%	$4,480	Digital banking, Redraw
Greater Bank	Discounted Great Rate Home Loan - Variable Owner Occupied	6.09%	6.10%	$4,504	Redraw, Digital banking
Macquarie verified Sep 23	Basic Home Loan	6.09%	6.11%	$4,504	Offset, Redraw
South West Slopes Credit Union	Intro Discounted Standard Variable Home Loan	6.10%	6.10%	$4,509	Digital banking, Redraw, Offset, NPP
South West Slopes Credit Union	Optimum 2 Year Fixed Rate Home Loan	6.10%	6.10%	$4,509	Digital banking, NPP, Redraw
South West Slopes Credit Union	Optimum 3 Year Fixed Rate Home Loan	6.10%	6.10%	$4,509	Digital banking, NPP, Redraw
POLICE CREDIT UNION LIMITED	Low Rate Home Loan Special Offer - Owner Occupied	6.14%	6.18%	$4,528	Digital banking, NPP, PayID, Redraw, Offset
TRANSPORT MUTUAL CREDIT UNION LTD	REFI SPECIAL OWNER OCCUPIED	6.14%	6.24%	$4,528	Redraw, Offset
TRANSPORT MUTUAL CREDIT UNION LTD	2 FIXED RATE HOME LOAN	6.14%	6.14%	$4,528	Redraw, Offset
TRANSPORT MUTUAL CREDIT UNION LTD	1 YEAR FIXED RATE LOAN	6.14%	6.14%	$4,528	Offset, Redraw
Bendigo Bank	Bendigo Express Home Loan	6.14%	6.27%	$4,528	Redraw, Offset
Community First Credit Union	Go Basic Variable Home Loan - Owner-occupied LVR 80% (Principal and Interest)	6.15%	6.20%	$4,533	Digital banking, Redraw
MACARTHUR CREDIT UNION LTD	GOVT LOW DEP VARIABLE OOC PI	6.17%	6.24%	$4,542	Redraw, Digital banking, PayID, NPP
Bank of China	Discount Home Loan (With Principal and Interest Repayment)	6.18%	6.38%	$4,547	Redraw, Digital banking
Bank of China	Discount Plus Home Loan (with Principal and Interest Repayment)	6.18%	6.56%	$4,547	Redraw, Offset, Digital banking
Bank of us	Flexidiscount Home Loan	6.19%	6.19%	$4,552	Redraw, Digital banking, NPP
FIRST OPTION BANK	SIMPLE HOME LOAN	6.19%	6.19%	$4,552	Digital banking, Redraw
Border Bank	Customs Value Home Loan	6.19%	6.26%	$4,552	Redraw, Offset
Up	Up Home Loan	6.20%	6.20%	$4,557	Digital banking, Offset, Redraw
Bank of us	TOPLINE HOME LOAN	6.24%	6.24%	$4,576	NPP, Redraw, Digital banking, Offset
UNITY BANK	Momentum Home Loan 60LVR - Owner Occupier - Variable - P&I SO	6.24%	6.29%	$4,576	Offset, Redraw, PayID, NPP, Digital banking
BankWAW	Back to Basics Owner Occupied	6.24%	6.29%	$4,576	Redraw
CENTRAL MURRAY CREDIT UNION LIMITED	HOUSING LOAN (CODE) - Owner Occupied - Variable Interest - Principal and Interest - Local Choice Loan - LVR < 60%	6.24%	6.30%	$4,576	Redraw, Offset
Bank First Production	Basic Home Loan Variable LVR<60%	6.24%	6.29%	$4,576	Redraw, PayID, Digital banking
FIRST OPTION BANK	COMPLETE PACKAGE HOME LOAN	6.24%	6.59%	$4,576	Redraw, Digital banking, Offset
Police Bank	Goldrate Home Loan	6.24%	6.31%	$4,576	Redraw, Offset
BankVic	Home Loan Special Variable Rate	6.24%	6.24%	$4,576	Redraw, Offset
Border Bank	Goldrate Home Loan	6.24%	6.31%	$4,576	Offset, Redraw
NORTHERN INLAND CREDIT UNION LTD.	Dream Home Loan New Borrowing	6.24%	6.58%	$4,576	Redraw, Offset, Digital banking
NORTHERN INLAND CREDIT UNION LTD.	Dream Home Loan New Borrowing INV	6.24%	6.58%	$4,576	Redraw, Offset, Digital banking
HUME BANK LIMITED	liteBlue O/Occ P+I (up to 60%LVR)	6.24%	6.25%	$4,576	Digital banking, Redraw
Community First Credit Union	BOOST PACKAGE HOME LOAN - OWNER-OCCUPIED LVR 80% (Principal and Interest)	6.29%	6.66%	$4,600	Offset, Redraw, Digital banking
ING	Mortgage Simplifier	6.29%	6.32%	$4,600	Digital banking, PayID, NPP, Redraw
Bank First Production	Basic Home Loan Variable LVR 60-70%	6.29%	6.34%	$4,600	Redraw, PayID, Digital banking
A-Auswide Bank	BASIC HOME LOAN	6.29%	6.32%	$4,600	Redraw, NPP, PayID
Tiimely	Tiimely Basic Home Loan	6.29%	6.30%	$4,600	Redraw
Easystreet	STREET SMART VARIABLE HOME LOAN - OWNER-OCCUPIED (Principal and Interest)	6.29%	6.34%	$4,600	Offset, Redraw
Credit Union SA	Variable Home Loan Package Specials	6.29%	6.66%	$4,600	Redraw, Offset, Digital banking
NRMA Insurance	NRMA Basic Home Loan	6.33%	6.37%	$4,620	Redraw
UNITY BANK	Advantage Home Loan - Owner Occupied - Variable P&I - Without Offset	6.34%	6.39%	$4,625	Redraw, PayID, NPP, Digital banking
UNITY BANK	Momentum Home Loan 60-80LVR - Owner Occupier - Variable - P&I SO	6.34%	6.39%	$4,625	Offset, Redraw, PayID, NPP, Digital banking
Bank First Production	Premier Package Home Loan Owner Occupied Variable LVR <60%	6.34%	6.72%	$4,625	Offset, PayID, Digital banking, Redraw
BankWAW	Home Equity Loan Owner Occupied	6.34%	6.37%	$4,625	Redraw
CENTRAL MURRAY CREDIT UNION LIMITED	HOUSING LOAN (CODE) - Owner Occupied - Variable Interest - Principal and Interest - Local Choice Loan - LVR 60-70%	6.34%	6.40%	$4,625	Redraw, Offset
Bank First Production	Complete Home Loan Owner Occupied Variable LVR <60%	6.34%	6.39%	$4,625	Offset, PayID, Digital banking, Redraw
Bank First Production	Basic Home Loan Variable LVR 70-80%	6.34%	6.39%	$4,625	Redraw, PayID, Digital banking
CENTRAL WEST CREDIT UNION LTD	Premium Smart Home Loan	6.34%	6.40%	$4,625	Redraw, Offset, Digital banking
Credit Union SA	40 Year Home Loan Package	6.34%	6.71%	$4,625	Redraw, Offset, Digital banking
HUME BANK LIMITED	liteBlue O/Occ P+I (60%-80% LVR)	6.34%	6.35%	$4,625	Digital banking, Redraw
Credit Union SA	Variable Home Loan Package Specials	6.34%	6.71%	$4,625	Redraw, Offset, Digital banking
HUME BANK LIMITED	myBlue Variable O/Occ P+I (up to 60% LVR)	6.34%	6.34%	$4,625	Redraw, Digital banking, Offset
BankVic	Fixed Rate Home Loan - 5 years	6.35%	6.35%	$4,629
BankVic	Fixed Rate Home Loan - 4 years	6.35%	6.35%	$4,629
BankVic	Fixed Rate Home Loan - 3 years	6.35%	6.35%	$4,629
BankVic	Fixed Rate Home Loan - 1 year	6.35%	6.35%	$4,629
BankVic	Fixed Rate Home Loan - 2 years	6.35%	6.35%	$4,629
BankVic	Home Loan Variable Rate	6.35%	6.35%	$4,629	Redraw
BNK Bank (Goldfields Money/BCHL)	Gold Prime Residential Basic Home Loans	6.35%	6.38%	$4,629	Digital banking, Redraw
Qudos Bank	Low Cost Value Package	6.38%	6.56%	$4,644	Offset, Redraw
Qudos Bank	No Frills Home Loan	6.38%	6.38%	$4,644	Digital banking, NPP, PayID, Redraw
Qantas Money	QANTAS Money Basic Home Loan	6.38%	6.45%	$4,644	Redraw
Bendigo Bank	Bendigo Easy Home Loan	6.38%	6.40%	$4,644	Redraw
CommBank	Digi Home Loan (Owner Occupied)	6.39%	6.41%	$4,649	Redraw, Digital banking, Offset
Bank First Production	Premier Package Home Loan Owner Occupied Variable LVR 60-70%	6.39%	6.77%	$4,649	Digital banking, PayID, Redraw, Offset
Bank First Production	Complete Home Loan Owner Occupied Variable LVR 60-70%	6.39%	6.44%	$4,649	PayID, Digital banking, Redraw, Offset
BankVic	Offset Variable Rate Home Loan	6.39%	6.39%	$4,649	Redraw, Offset
POLICE CREDIT UNION LIMITED	Low Rate Home Loan - Owner Occupied	6.39%	6.46%	$4,649	Digital banking, NPP, PayID, Redraw, Offset
POLICE CREDIT UNION LIMITED	Renovation Loan - Owner Occupied	6.39%	6.46%	$4,649	Digital banking, NPP, PayID, Redraw, Offset
ORANGE CREDIT UNION LTD	Basic Variable Rate Home Loan	6.39%	6.44%	$4,649	Redraw
Bendigo Bank	Single Parents (Bendigo Complete Home Loan)	6.43%	6.65%	$4,668	Offset, Redraw
Unloan Prod	Unloan Home Loan	6.44%	6.35%	$4,673	Digital banking, Redraw, NPP
Bank of Queensland	Economy Variable Home Loan	6.44%	6.58%	$4,673	Redraw, Digital banking
THE CAPRICORNIAN	Variable Rate Offset Home Loan	6.44%	6.44%	$4,673	Offset, PayID, Digital banking, NPP, Redraw
UNITY BANK	Advantage Home Loan - Owner Occupied - Variable P&I - With Offset	6.44%	6.49%	$4,673	Redraw, Offset, PayID, Digital banking, NPP
UNITY BANK	Momentum Home Loan 80LVR - Owner Occupier - Variable - P&I SO	6.44%	6.49%	$4,673	Offset, Redraw, PayID, NPP, Digital banking
ING	Orange Advantage	6.44%	6.73%	$4,673	Digital banking, PayID, NPP, Redraw, Offset
Bank First Production	Premier Package Home Loan Owner Occupied Variable LVR 70-80%	6.44%	6.82%	$4,673	PayID, Digital banking, Redraw, Offset
Greater Bank	Discounted Ultimate Packaged Home Loan - Variable Owner Occupied	6.44%	6.80%	$4,673	Offset, Digital banking, Redraw
Bank First Production	Complete Home Loan Owner Occupied Variable LVR 70-80%	6.44%	6.49%	$4,673	Offset, PayID, Digital banking, Redraw
Bank of Sydney	BOS Basic Home Loan Owner Occupied	6.44%	6.48%	$4,673	Redraw, Digital banking
The Mutual Bank	Package Home Loan	6.44%	6.80%	$4,673	Offset, Redraw, Digital banking
NAB	NAB Tailored Home Loan	6.44%	6.57%	$4,673	Offset, Digital banking, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ P+I (60.01 - 80.00% LVR)	6.44%	6.44%	$4,673	Redraw, Digital banking, Offset
Community First Credit Union	Go Basic Variable Home Loan - Owner-occupied LVR 95% (Principal and Interest)	6.45%	6.50%	$4,678	Digital banking, Redraw
CENTRAL MURRAY CREDIT UNION LIMITED	HOUSING LOAN (CODE) - Owner Occupied - Variable Interest - Principal and Interest - Local Choice Loan - LVR 70-80%	6.49%	6.55%	$4,698	Redraw, Offset
TRANSPORT MUTUAL CREDIT UNION LTD	BASIC VARIABLE LOAN	6.49%	6.59%	$4,698	Redraw, Offset
Cairns Bank	CLASSIC HOME LOAN VARIABLE <60 LVR PI	6.49%	5.95%	$4,698	Redraw
Aussie Home Loans	Aussie Elevate Basic Home Loan	6.54%	6.56%	$4,722	Redraw
Connective Select Home Loans	Connective Select Basic Home Loan	6.54%	6.56%	$4,722	Redraw
ORANGE CREDIT UNION LTD	Premium Home Loan Fixed 12 mths P&I Owner Occupied	6.54%	6.54%	$4,722	Offset, Redraw
ORANGE CREDIT UNION LTD	Premium Home Loan Fixed 24 mths P&I Owner Occupied	6.54%	6.54%	$4,722	Offset, Redraw
ORANGE CREDIT UNION LTD	Premium Home Loan Fixed 36 mths P&I Owner Occupied	6.54%	6.54%	$4,722	Offset, Redraw
Cairns Bank	CLASSIC HOME LOAN VARIABLE 60-80 LVR PI	6.54%	6.00%	$4,722	Redraw
AFG Home Loans Alpha	AFG Alpha Basic Home Loan	6.54%	6.56%	$4,722	Redraw
HUME BANK LIMITED	liteBlue O/Occ P+I (80%-90% LVR)	6.54%	6.55%	$4,722	Digital banking, Redraw
Community First Credit Union	BOOST PACKAGE HOME LOAN - OWNER-OCCUPIED LVR 95% (Principal and Interest)	6.59%	6.96%	$4,747	Offset, Redraw, Digital banking
Unknown lender	Standard Variable Plus	6.59%	6.75%	$4,747	Redraw, Offset
Cairns Bank	PLUS HOME LOAN VARIABLE <60 LVR	6.59%	6.27%	$4,747	Redraw, Offset
LCU	Intelligent Mortgage 1 Year Fixed	6.60%	6.61%	$4,752	Redraw, Digital banking, NPP, PayID
LCU	Intelligent Mortgage 2 Years Fixed	6.60%	6.63%	$4,752	Redraw, Digital banking, NPP, PayID
LCU	Intelligent Mortgage Variable	6.60%	6.62%	$4,752	Redraw, Offset, Digital banking, NPP, PayID
THE CAPRICORNIAN	No Frills Owner Occupied Home Loan	6.64%	6.69%	$4,771	PayID, NPP, Digital banking, Redraw
Bank of Sydney	Expect More Home Loan Owner Occupied	6.64%	6.79%	$4,771	Digital banking, Offset, Redraw
ORANGE CREDIT UNION LTD	Premium Home Loan Variable	6.64%	6.69%	$4,771	Offset, Redraw
Cairns Bank	PLUS HOME LOAN VARIABLE 60-80 LVR PI	6.64%	6.32%	$4,771	Redraw, Offset
Bank Australia	Basic Home Loan	6.64%	6.64%	$4,771	Digital banking, Redraw
Bank Australia	Offset Home Loan	6.64%	6.82%	$4,771	Digital banking, Offset, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ P+I (80.01-90.00% LVR)	6.64%	6.64%	$4,771	Redraw, Digital banking, Offset
Bank First Production	Premier Package Home Loan Owner Occupied Construction Variable LVR<80%	6.69%	6.85%	$4,796	PayID, Digital banking, Redraw, Offset
Bank First Production	Complete Home Loan Owner Occupied Construction Variable LVR<80%	6.69%	6.51%	$4,796	Offset, PayID, Digital banking, Redraw
NAB	NAB Base Variable Rate Home Loan	6.69%	6.69%	$4,796	Redraw, Digital banking
NORTHERN INLAND CREDIT UNION LTD.	Dream Home Loan Variable PI Owner Occupied	6.69%	7.03%	$4,796	Redraw, Offset, Digital banking
RACQ Bank	Fair Dinkum Home Loan	6.69%	6.69%	$4,796	Digital banking, NPP
Liberty Financial	Low rate home loan	6.74%	6.82%	$4,821	Redraw
TRANSPORT MUTUAL CREDIT UNION LTD	STANDARD VARIABLE LOAN	6.74%	6.84%	$4,821	Redraw, Offset
Defence Bank Limited	Premier Low Rate	6.74%	6.74%	$4,821	Redraw
Cairns Bank	CLASSIC HOME LOAN VARIABLE 80-90 LVR PI	6.74%	6.20%	$4,821	Redraw
HUME BANK LIMITED	liteBlue O/Occ I/O(up to 60% LVR)	6.74%	6.48%	$4,821	Digital banking, Redraw
Community First Credit Union	Community Advantage Variable Owner Occupied (Principal and Interest)	6.79%	6.84%	$4,845	Redraw
Qudos Bank	Construction Home Loan	6.79%	6.65%	$4,845
RACQ Bank	Mortgage Saver Home Loan	6.79%	6.83%	$4,845	Digital banking, NPP, Redraw
Bank of Queensland	Clear Path Variable Home Loan	6.84%	6.96%	$4,870	Offset, Redraw
Liberty Financial	Debt consolidation home loan	6.84%	7.11%	$4,870	Offset, Redraw
Liberty Financial	Flexible home loan	6.84%	7.11%	$4,870	Offset, Redraw
Bank First Production	Basic Home Loan Variable LVR 80-90%	6.84%	6.89%	$4,870	Redraw, PayID, Digital banking
Defence Bank Limited	Premier Home Loan	6.84%	6.84%	$4,870	Offset, Redraw
Defence Bank Limited	Ultimate Essentials Construction (INV)	6.84%	6.93%	$4,870	Offset, Digital banking, Redraw
AMP - My AMP	Equity Flex	6.84%	7.15%	$4,870	Redraw, Offset, Digital wallet, Digital banking
Cairns Bank	PLUS HOME LOAN VARIABLE 80-90 LVR PI	6.84%	6.51%	$4,870	Redraw, Offset
HUME BANK LIMITED	liteBlue O/Occ I/O (60%-80% LVR)	6.84%	6.58%	$4,870	Digital banking, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ I/O (up to 60% LVR)	6.84%	6.56%	$4,870	Redraw, Digital banking, Offset
HORIZON BANK	Home Sweet Home Loan	6.89%	7.12%	$4,895	Redraw, Digital banking, NPP, Offset
IMB Bank	Essentials Home Loan	6.89%	7.00%	$4,895	Offset, Digital banking, Redraw
IMB Bank	Budget Home Loan	6.89%	6.95%	$4,895	Digital banking, Redraw
AMB Bank Product	DHOAS Construction Loan	6.89%	6.92%	$4,895
AMB Bank Product	DHOAS Rate Saver Home Loan	6.89%	6.92%	$4,895	Redraw
RACQ Bank	Mortgage Breaker Owner Occupied	6.89%	6.93%	$4,895	NPP, Digital banking, Offset, Redraw
Bank of us	TOPLINE RES. INV. LOAN	6.94%	7.01%	$4,920	NPP, Redraw, Digital banking, Offset
THE CAPRICORNIAN	Lifestyle Home Loan	6.94%	6.99%	$4,920	Offset, PayID, NPP, Digital banking, Redraw
St. George Bank	Basic Variable Home Loan	6.94%	6.95%	$4,920	Redraw, Digital banking
Bank of Melbourne	Basic Variable Home Loan	6.94%	6.95%	$4,920	Redraw, Digital banking
Bank First Production	Complete Home Loan Owner Occupied Variable LVR >80% <90%	6.94%	6.99%	$4,920	Offset, PayID, Digital banking, Redraw
BankSA	Basic Variable Home Loan	6.94%	6.95%	$4,920	Redraw, Digital banking
POLICE CREDIT UNION LIMITED	Better Home Loan 80% LVR - Owner Occupied	6.94%	7.01%	$4,920	Digital banking, NPP, PayID, Redraw, Offset
POLICE CREDIT UNION LIMITED	Better Home Loan 90% LVR - Owner Occupied	6.94%	7.01%	$4,920	Digital banking, NPP, PayID, Redraw, Offset
QBANK	Classic Home Loan	6.94%	6.96%	$4,920	Redraw
Cairns Bank	CLASSIC HOME LOAN VARIABLE >90 LVR PI	6.94%	6.40%	$4,920	Redraw
HUME BANK LIMITED	liteBlue O/Occ P+I (90%-95% LVR)	6.94%	6.95%	$4,920	Digital banking, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ I/O (60.01 - 80.00% LVR)	6.94%	6.66%	$4,920	Redraw, Digital banking, Offset
Newcastle Permanent	Real Deal Home Loan Principal and Interest	6.99%	7.03%	$4,945	Redraw, Digital banking
MACARTHUR CREDIT UNION LTD	LOW LVR OOC P&I	6.99%	7.06%	$4,945	Redraw
AMB Bank Product	Construction Loan	6.99%	7.02%	$4,945
AMB Bank Product	RateSaver Home Loan	6.99%	7.02%	$4,945	Redraw
CENTRAL WEST CREDIT UNION LTD	Minimiser Home Loan	7.04%	7.10%	$4,970	Redraw, Digital banking
Defence Bank Limited	Ultimate Essentials I/O Con	7.04%	7.13%	$4,970	Offset, Digital banking
QBANK	Classic Plus Home Loan	7.04%	7.31%	$4,970	Offset, Redraw
Defence Bank Limited	Ultimate Essentials Variable	7.04%	7.13%	$4,970	Digital banking, Offset, Redraw
AMB Bank Product	DHOAS Value Home Loan	7.04%	7.07%	$4,970	Offset, Redraw
AMB Bank Product	DHOAS Standard Variable Home Loan	7.04%	7.07%	$4,970	Redraw, Offset
AMP - My AMP	AMP Essential Home Loan	7.04%	7.07%	$4,970	Redraw
Cairns Bank	PLUS HOME LOAN VARIABLE >90 PI	7.04%	6.71%	$4,970	Redraw, Offset
HUME BANK LIMITED	liteBlue O/Occ I/O (80%-90% LVR)	7.04%	6.78%	$4,970	Digital banking, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ P+I (90.01 -95.00% LVR)	7.04%	7.04%	$4,970	Redraw, Digital banking, Offset
Westpac	Flexi First: Our lowest online variable home loan rate (Owner Occupied)	7.09%	7.10%	$4,995	Redraw, Digital banking
Bank of us	FLEXICHOICE HOME LOAN	7.11%	7.32%	$5,005	NPP, Redraw, Digital banking, Offset
NRMA Insurance	NRMA Offset Home Loan	7.13%	7.33%	$5,015	Offset, Redraw
Bendigo Bank	Bendigo Complete Home Loan	7.13%	7.35%	$5,015	Offset, Redraw
Bendigo Bank	Bendigo Flex Home Loan	7.13%	7.30%	$5,015	Offset, Redraw
Bendigo Bank	Bendigo Flex Home Loan (Retail)	7.13%	7.33%	$5,015	Offset, Redraw
Defence Bank Limited	Ultimate Essentials I/O	7.14%	7.23%	$5,020	Offset, Digital banking
Tiimely	Tiimely Offset Home Loan	7.14%	7.30%	$5,020	Offset, Redraw
HUME BANK LIMITED	myBlue Variable O/Occ I/O (80.01-90.00% LVR)	7.14%	6.86%	$5,020	Redraw, Digital banking, Offset
CENTRAL WEST CREDIT UNION LTD	Smart Home Loan	7.15%	7.21%	$5,025	Redraw, Offset, Digital banking
CENTRAL WEST CREDIT UNION LTD	Smart Fixed Rate Home Loan 2 year	7.15%	7.15%	$5,025	Digital banking, Redraw
CENTRAL WEST CREDIT UNION LTD	Smart Fixed Rate Home Loan 1 year	7.15%	7.15%	$5,025	Digital banking, Redraw
Health Professionals Bank	Your Way Plus Home Loan	7.19%	7.48%	$5,045	Redraw, Digital banking, Offset
Health Professionals Bank	Your Way Home Loan	7.19%	7.26%	$5,045	Redraw, Digital banking
Regional Australia Bank	Regional Australia Bank Home Loan (Non Offset)	7.19%	7.22%	$5,045	Redraw
UniBank	Your Way Plus Home Loan	7.19%	7.48%	$5,045	Redraw, Digital banking, Offset
UniBank	Your Way Home Loan	7.19%	7.26%	$5,045	Redraw, Digital banking
Bank First Production	Complete Home Loan Owner Occupied Construction Variable LVR 80-90%	7.19%	7.02%	$5,045	Offset, PayID, Digital banking, Redraw
AMB Bank Product	Standard Variable Home Loan	7.19%	7.23%	$5,045	Redraw, Offset
AMB Bank Product	Value Home Loan	7.19%	7.23%	$5,045	Offset, Redraw
BankWAW	Flexible Choice Owner Occupied	7.24%	7.29%	$5,070	Redraw, Offset
Liberty Financial	Low doc home loan	7.24%	7.51%	$5,070	Redraw, Offset
CENTRAL MURRAY CREDIT UNION LIMITED	HOUSING LOAN (CODE) - Owner Occupied - Variable Interest - Principal and Interest	7.24%	7.30%	$5,070	Offset, Redraw
AMP - My AMP	AMP Superedge Loan	7.24%	7.61%	$5,070	Offset, Digital wallet, Digital banking
Credit Union SA	Variable Home Loan Package Principal and Interest	7.24%	7.59%	$5,070	Redraw, Offset, Digital banking
Bank First Production	Premier Package Home Loan Owner Occupied Variable LVR >80% <90%	7.28%	7.65%	$5,091	PayID, Redraw, Digital banking, Offset
Qantas Money	QANTAS Money Offset Home Loan	7.28%	7.50%	$5,091	Offset, Redraw
MACARTHUR CREDIT UNION LTD	LOW LVR INV P&I HOME LOAN	7.29%	7.36%	$5,096	Redraw
Bank First Production	Basic Home Loan Variable LVR>90%	7.29%	7.34%	$5,096	Redraw, PayID, Digital banking
Credit Union SA	Discounted Variable Rate Home Loan Principal and Interest	7.29%	7.32%	$5,096	Redraw, Digital banking
ANZ	ANZ Simplicity PLUS	7.34%	7.34%	$5,121	Digital banking, Redraw
Newcastle Permanent	Premium Plus Package Variable Home Loan Principal and Interest	7.35%	7.67%	$5,126	Digital banking, Offset, Redraw
Aussie Home Loans	Aussie Elevate Offset Home Loan	7.39%	7.56%	$5,146	Offset, Redraw
ME Bank	ME Bank CompleteME Home Loan	7.39%	7.75%	$5,146	Offset, Digital banking, Redraw
Liberty Financial	Fresh start home loan	7.39%	7.73%	$5,146	Redraw
Bank First Production	Complete Home Loan Owner Occupied Variable LVR >90%	7.39%	7.44%	$5,146	Digital banking, Redraw, PayID, Offset
Connective Select Home Loans	Connective Select Offset Home Loan	7.39%	7.56%	$5,146	Offset, Redraw
BNK Bank (Goldfields Money/BCHL)	Prime Alt Doc Jumbo (BNK)	7.39%	7.46%	$5,146	Offset, Digital banking, Redraw
AFG Home Loans Alpha	AFG Alpha Offset Home Loan	7.39%	7.56%	$5,146	Offset, Redraw
Regional Australia Bank	Regional Australia Bank Home Loan (Offset)	7.40%	7.43%	$5,151	Offset, Redraw
UniBank	Your Way Home Loan	7.44%	7.36%	$5,172	Redraw, Digital banking
THE CAPRICORNIAN	Premium Choice Home Loan	7.45%	7.50%	$5,177	PayID, NPP, Digital banking, Offset, Redraw
ANZ	ANZ Standard Variable home loan	7.49%	7.49%	$5,197	Digital banking, Redraw, Offset
Credit Union SA	Standard Variable Rate Home Loan Principal and Interest	7.49%	7.54%	$5,197	Offset, Redraw
AMP - My AMP	Professional Package	7.52%	7.92%	$5,212	Redraw, Offset, Digital wallet, Digital banking
Bank First Production	Premier Package Home Loan Owner Occupied Construction Variable LVR 80-90%	7.53%	7.68%	$5,217	Offset, PayID, Digital banking, Redraw
My State PM Production	Basic Variable Loan	7.54%	7.57%	$5,223	Redraw, Digital banking
My State PM Production	Special Residential Variable Loan	7.54%	7.59%	$5,223	Digital banking, Offset, Redraw
HUME BANK LIMITED	liteBlue O/Occ I/O (90%-95% LVR)	7.54%	7.23%	$5,223	Digital banking, Redraw
CENTRAL WEST CREDIT UNION LTD	Mortgage Equity Loan	7.60%	9.02%	$5,253	Redraw, Digital banking
Bank First Production	Complete Home Loan Owner Occupied Construction Variable LVR>90%	7.64%	7.47%	$5,274	PayID, Digital banking, Redraw, Offset
HUME BANK LIMITED	myBlue Variable O/Occ I/O (90.01 -95.00% LVR)	7.64%	7.31%	$5,274	Redraw, Digital banking, Offset
NORTHERN INLAND CREDIT UNION LTD.	Smart Home Loan Variable	7.69%	7.86%	$5,299	Redraw, Offset, Digital banking
CENTRAL MURRAY CREDIT UNION LIMITED	HOUSING LOAN (CODE) - Owner Occupied - Variable Interst - Principal and Interest - LVR > 80%	7.74%	7.81%	$5,325	Offset, Redraw
POLICE CREDIT UNION LIMITED	Standard Variable Home Loan 80% LVR - Owner Occupied	7.74%	7.81%	$5,325	Offset, Redraw, NPP
POLICE CREDIT UNION LIMITED	Standard Variable Home Loan 90% LVR - Owner Occupied	7.74%	7.81%	$5,325	NPP, Offset, Redraw
TRANSPORT MUTUAL CREDIT UNION LTD	HOME EQUITY LOAN	7.74%	7.85%	$5,325	Redraw
Bank First Production	Premier Package Home Loan Owner Occupied Variable LVR >90%	7.78%	8.15%	$5,346	Redraw, Offset, PayID, Digital banking
Bank of Queensland	BOQ Essential Home Loan	7.82%	7.84%	$5,366	Digital banking, Redraw
MACARTHUR CREDIT UNION LTD	BASIC VARIABLE LOAN OWNER OCCUPIED P&I >750K	7.87%	7.94%	$5,392	Redraw, Digital banking, PayID, NPP
Greater Bank	Ultimate Packaged Home Loan - Variable Owner Occupied	7.91%	8.26%	$5,413	Digital banking, Redraw, Offset
MACARTHUR CREDIT UNION LTD	BASIC VARIABLE LOAN OWNER OCCUPIED P&I 500K TO 750K	7.97%	8.04%	$5,444	Redraw, Digital banking, PayID, NPP
CommBank	Standard Variable Rate Home Loan (Owner Occupied)	7.99%	8.35%	$5,454	Redraw, Offset, Digital banking
CommBank	Simple Home Loan (Owner Occupied)	7.99%	8.13%	$5,454	Redraw, Offset, Digital banking
Virgin Money Australia	Virgin Money Lite Home Loan	8.02%	8.04%	$5,470	Digital banking, Redraw
Bank First Production	Premier Package Home Loan Owner Occupied Construction Variable LVR>90%	8.03%	8.17%	$5,475	PayID, Redraw, Offset, Digital banking
MACARTHUR CREDIT UNION LTD	BASIC VARIABLE LOAN OWNER OCCUPIED P&I 250K TO 500K	8.07%	8.14%	$5,496	Redraw, Digital banking, PayID, NPP
THE CAPRICORNIAN	Access Equity Home Loan	8.09%	8.14%	$5,506	PayID, NPP, Digital banking, Redraw
BNK Bank (Goldfields Money/BCHL)	Prime Alt Doc (BNK)	8.09%	8.17%	$5,506	Offset, Digital banking, Redraw
Greater Bank	Great Rate Home Loan - Variable Owner Occupied	8.11%	8.12%	$5,516	Digital banking, Redraw
MACARTHUR CREDIT UNION LTD	BASIC VARIABLE LOAN OWNER OCCUPIED P&I	8.17%	8.24%	$5,548	Redraw, Digital banking, PayID, NPP
MACARTHUR CREDIT UNION LTD	MORTGAGE OFFSET OWNER OCCUPIED P&I	8.17%	8.24%	$5,548	Redraw, Digital banking, NPP, PayID, Offset
AMP - My AMP	Land Loan	8.20%	8.26%	$5,563	Redraw, Digital banking
BOQ Specialist	Basic Home Loan	8.27%	8.45%	$5,600	Redraw
HORIZON BANK	HANDYLOAN	8.39%	8.39%	$5,663	Digital banking, PayID, NPP, Digital wallet
Virgin Money Australia	Virgin Money Loaded Home Loan	8.41%	8.68%	$5,673	Offset, Digital banking, Redraw
Bank of Queensland	BOQ Plus Home Loan	8.49%	8.76%	$5,715	Digital banking, Redraw
My State PM Production	Standard Variable Loan	8.62%	8.68%	$5,784	Digital banking, Offset, Redraw
Bank of China	Standard Variable Rate Home Loan	8.64%	8.71%	$5,795	Redraw, Digital banking
BNK Bank (Goldfields Money/BCHL)	Gold Prime Residential Special Home Loans	8.64%	8.67%	$5,795	Offset, Redraw, Digital banking
The Mutual Bank	Express Credit Facility	8.89%	8.89%	$5,928	PayID, NPP, Digital banking, Digital wallet
ANZ Plus	ANZ Plus Home Loan Variable	8.89%	8.89%	$5,928	Redraw, Offset, Digital banking
Judo Bank	Home Loan	8.90%	8.92%	$5,933	Redraw
Westpac	Premium Options Home Loan	9.08%	9.08%	$6,029	Redraw
Liberty Financial	Low deposit home loan	9.14%	9.89%	$6,061	Offset, Redraw
IMB Bank	Standard Variable Home Loan	9.21%	9.28%	$6,099	Offset, Digital banking, Redraw
THE CAPRICORNIAN	Mortgage Plus Home Loan	9.23%	9.23%	$6,110	Digital banking, Digital wallet, PayID, NPP
Bank of Melbourne	Variable Home Loan with Offset	9.34%	9.48%	$6,169	Offset, Redraw, Digital banking
BankSA	Variable Home Loan with Offset	9.35%	9.49%	$6,175	Offset, Redraw, Digital banking
St. George Bank	Variable Home Loan with Offset	9.36%	9.50%	$6,180	Offset, Redraw, Digital banking
Westpac	Rocket Loan: Variable Home Loan with Offset (Owner Occupied)	9.38%	9.52%	$6,191	Redraw, Offset, Digital banking
UNITY BANK	Retirees Access Home Loan	9.50%	9.60%	$6,256	Redraw, PayID, NPP, Digital banking
Arab Bank Australia Ltd Prod	The Basics Home Loan	9.54%	9.67%	$6,278	Redraw, Digital banking
Arab Bank Australia Ltd Prod	Basics Home Loan Special Offer	9.54%	9.67%	$6,278	Digital banking, Redraw
Bank of Melbourne	Relocation Loan without end	9.63%	9.45%	$6,327
Bank of Melbourne	Relocation Loan with end	9.63%	9.45%	$6,327
Arab Bank Australia Ltd Prod	Essentials Home Loan Special Offer	9.64%	9.69%	$6,332	Digital banking, Redraw, Offset
Arab Bank Australia Ltd Prod	Essentials Home Loan	9.64%	9.69%	$6,332	Redraw, Digital banking, Offset
BankSA	Relocation Loan with end	9.64%	9.46%	$6,332
BankSA	Relocation Loan without end	9.64%	9.46%	$6,332
St. George Bank	Relocation Loan without end	9.65%	9.47%	$6,338
St. George Bank	Relocation Loan with end	9.65%	9.47%	$6,338
BOQ Specialist	Plus Home Loan	9.69%	9.69%	$6,359
BOQ Specialist	Home Loan Banking Package	9.87%	10.33%	$6,458
A-Auswide Bank	HOME LOAN PLUS	10.01%	10.17%	$6,535	Offset, Redraw, NPP, PayID
NAB	NAB FlexiPlus Mortgage	10.36%	10.36%	$6,728	Digital banking
Bank of Sydney	Home Equity Maximiser Owner Occupied	11.90%	11.90%	$7,596	Digital banking

Rates based on $744,000 owner-occupier P&I loan (80% LVR on $930K Melbourne median), 30-year term. Rates are indicative and subject to change. "Lowest" = the lowest rate on our live CDR feed at the time of viewing, across the lenders we display, excluding products restricted to particular professions, first home buyers or government schemes. Each lender's eligibility criteria still apply and the lowest rate may not be available to you. Rates update daily and not all lenders are included, so other products may be lower. Source: Consumer Data Right (CDR), lender websites. Last updated: 2 November 2026. Warning: This comparison rate is 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.

Savings example: On Melbourne’s ~$744,000 median new loan over 30 years, cutting your rate by 0.60% saves about $285/month.

0 lenders included

Live CDR rates

Save up to $1,358/year* by switching home loan

Compare your current rate against the lowest variable rate on our live Consumer Data Right feed - 5.93% p.a. across 70+ Australian lenders.

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*Illustrative only. Based on a $650,000 loan over 30 years moving from 6.20% (RBA average rate on outstanding owner-occupier variable loans, August 2026) to 5.93%, the lowest broadly available variable rate on our CDR feed. Lender eligibility criteria apply and it may not be available to you. Annual difference in principal and interest repayments (paid monthly), before fees and switching costs - not a projection over the loan term. Actual savings depend on your loan details and lender assessment.

Victoria Home Loan Calculators

Estimate your borrowing power and repayments. Defaults are tuned to a typical VIC home loan of $744,000.

Borrowing Power Calculator

Estimate how much you could borrow based on your income and expenses. Factors in APRA's 3% serviceability buffer.

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Repayment Calculator

Calculate your monthly, fortnightly or weekly home loan repayments and total interest paid on a VIC home loan.

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Offset accounts work harder in Victoria: Parking $50,000 in a 100% offset against a Melbourne-sized $744,000 loan at our lowest variable rate of 5.93% (lender eligibility criteria apply) trims interest by roughly $2,965/year while keeping the cash fully accessible - and shaves around 3 years off a 30-year term if left untouched. Try it in the repayment calculator below.

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Compare home loan products available to VIC buyers from 70+ Australian lenders. Indicative rates, fees and features in minutes - comparing on this site has no impact on your credit score.

Victoria Property Market Overview

Victoria is Australia's second-largest property market, with Melbourne being the most affordable of the two largest capital cities. In 2026, the Victorian market has shown softer growth of 1-2% annually, partly due to higher housing supply levels compared to Sydney and Brisbane, and the impact of elevated land tax and stamp duty costs.

Melbourne Metro snapshot

Median house price: ~$930,000
Median unit price: ~$620,000
12-month growth: +1.5%
Average days on market: 30 days
Auction clearance rate: ~62%

Source: CoreLogic, Domain, September 2026

Regional Victoria snapshot

Median house price: ~$480,000
12-month growth: +2.8%
Key growth areas: Geelong, Ballarat, Bendigo
Average days on market: 38 days
Interstate migration (net): Net inflow stabilising

Source: CoreLogic, ABS Regional Population, 2026

Key Melbourne growth corridors

In 2026, the strongest growth in Greater Melbourne is occurring in the western suburbs (Melton, Wyndham, Tarneit) and northern corridors (Craigieburn, Mickleham, Donnybrook) driven by new housing supply and infrastructure investment including the Suburban Rail Loop. Geelong continues its strong run with median prices around $700,000, benefiting from improved transport links to Melbourne. The Mornington Peninsula and Surf Coast remain popular lifestyle markets with premium pricing. Ballarat and Bendigo offer sub-$500,000 medians with improving amenities and remote work suitability.

Victoria Stamp Duty Rates and Thresholds

In Victoria, stamp duty (land transfer duty) is calculated on a sliding scale. Victoria is the only Australian state transitioning to an annual property tax model - commercial and industrial buyers can already opt for annual land tax instead of upfront stamp duty. For residential first home buyers, the exemption threshold is up to $600,000, with concessional rates between $600,000 and $750,000.

Property Value	Stamp Duty Rate
Up to $25,000	1.4% of the property value
$25,001-$130,000	$350 + 2.4% of amount over $25,000
$130,001-$440,000	$2,870 + 5.0% of amount over $130,000
$440,001-$550,000	$18,370 + 6.0% of amount over $440,000
$550,001-$960,000	$28,070 + 6.0% of amount over $550,000
$960,001-$2,000,000	5.5% of total property value
Over $2,000,000	6.5% of total property value (premium duty)

Up to $25,000

1.4% of the property value

$25,001-$130,000

$350 + 2.4% of amount over $25,000

$130,001-$440,000

$2,870 + 5.0% of amount over $130,000

$440,001-$550,000

$18,370 + 6.0% of amount over $440,000

$550,001-$960,000

$28,070 + 6.0% of amount over $550,000

$960,001-$2,000,000

5.5% of total property value

Over $2,000,000

6.5% of total property value (premium duty)

First home buyer concessions

Full exemption on properties up to $600,000
Concessional rate on $600,001-$750,000
Applies to new and established homes
Must live in the property for at least 12 months

Foreign buyer surcharges

8% surcharge on top of standard stamp duty
Additional 4% annual absentee owner surcharge
Applies to foreign purchasers and absentee owners

Source: State Revenue Office Victoria, 2026

First home buyer advantage: A standard buyer on a $600K Melbourne property pays approximately $31,070 in stamp duty - Victorian first home buyers pay $0 under the stamp duty exemption up to $600K (sliding concession to $750K).

Victoria Government Grants & Schemes for Home Buyers

First Home Owner Grant (FHOG)

In Victoria, the First Home Owner Grant provides $10,000 to eligible first home buyers purchasing or building a new home valued up to $750,000. The grant does not apply to established (existing) homes.

Grant amount: $10,000
Property value cap: $750,000
Eligibility: New homes only
Residency requirement: 12 months continuous

Victorian Homebuyer Fund

The Victorian Homebuyer Fund has closed to new applications. New buyers use the federal Help to Buy scheme instead, where the government contributes up to 40% of a new home or 30% of an existing home; existing fund participants keep their arrangements.

Government share (Help to Buy): Up to 40% new / 30% existing
Homebuyer Fund status: Closed to new applicants
Income cap (single, 2026-27): $103,000
Income cap (joint or single parent): $165,000

First Home Guarantee (Federal)

The federal First Home Guarantee allows eligible first home buyers in Victoria to purchase with as little as a 5% deposit without paying Lenders Mortgage Insurance. The government guarantees up to 15% of the property value.

Places (nationally): 35,000/year
Min deposit: 5%
Price cap (Melbourne): $800,000
Price cap (regional VIC): $650,000

Stamp Duty to Annual Tax Transition

Victoria is the only Australian state transitioning from upfront stamp duty to an annual property tax. Commercial and industrial property purchases made from 1 July 2024 can opt for the annual tax. The residential transition is expected to follow in future years, which could significantly reduce upfront purchase costs for Victorian home buyers.

Current status: Commercial/industrial active
Residential: Future expansion planned
Benefit: Lower upfront costs

Choosing a Home Loan Lender in Victoria

Major banks in Victoria

All four major Australian banks - CommBank, Westpac, ANZ, and NAB - have extensive branch networks across Victoria. NAB is headquartered in Melbourne (Docklands) and has a particularly strong Victorian presence. ANZ is also Melbourne-headquartered. Bank of Melbourne (owned by Westpac) is a popular Victorian brand offering competitive rates with local service.

Full VIC postcode coverage including regional areas
NAB & ANZ headquartered in Melbourne
Bank of Melbourne (Westpac) for local Victorian banking

Online lenders in Victoria

Online lenders offer the lowest rates available to Victorian borrowers. Unloan and Athena both lend across all Victorian postcodes. These lenders typically offer rates 0.20-0.40% below major bank rates, saving $1,500-$3,000 per year on a $744,000 loan.

Unloan

From 6.44% (6.35% comparison rate*)

CommBank-backed

Athena

From 6.04% (6.04% comparison rate*)

Auto-rate match

ING

From 6.29% (6.32% comparison rate*)

Offset + cashback

Regional Victoria lending

Most lenders cover all Victorian postcodes, but some may apply restrictions for properties in very remote areas or on large acreage. Buyers in regional centres like Geelong, Ballarat, Bendigo, and Shepparton have full access to all major lenders. More remote areas like Mildura, Wangaratta, and East Gippsland are well served but may attract different valuations. Bendigo Bank (headquartered in Bendigo) and Bank Australia are popular regional Victorian lenders with competitive rates.

Broker vs direct in Victoria

Approximately 70% of Australian home loans are arranged through mortgage brokers. In Victoria, brokers can be especially valuable given Melbourne's competitive auction market where pre-approval speed matters. Brokers access 30-40 lenders and can negotiate on your behalf. Victoria has a strong broker market with several Melbourne-based aggregators. Direct applicants may get slightly lower rates from some online lenders (e.g., Unloan is direct-only). Consider both channels for the best outcome.

$930K

Melbourne median house price

Source: CoreLogic, September 2026

$620K

Average VIC home loan size

Source: ABS Lending Indicators

$10K

VIC First Home Owner Grant

New homes up to $750K

Frequently Asked Questions - Home Loans in Victoria

Common questions about buying a home and getting a home loan in Victoria.

Rates & Borrowing in Victoria

What is the average home loan interest rate in Victoria in 2026?

Which banks offer the best home loan rates in Victoria?

How much can I borrow for a home loan in Victoria?

How much deposit do I need for a home in Melbourne?

Grants, Stamp Duty & Costs

What government grants are available for first home buyers in Victoria?

What is stamp duty on a $900,000 property in Victoria?

What is the Victorian Homebuyer Fund?

Is Victoria transitioning away from stamp duty?

What are the hidden costs of buying a home in Victoria?

Buying in Victoria

What is the median house price in Melbourne in 2026?

Can I get a home loan for regional Victoria?

Related Victoria Guides & Resources

Complete Home Loan Guide

Everything you need to know about Australian home loans.

Home Loans Australia

National home loan comparison.

First Home Buyers VIC

VIC grants, schemes & tips.

Refinance VIC

Switch & save on your VIC loan.

Green Home Loans VIC

Lower rates for energy-efficient homes.

Compare Home Loans in Other States

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