Our variable rate home loan options give you the flexibility to manage your money how and when you want. You’ll get access to our online loan portal, the freedom to make additional repayments along with the option for a 100% interest offset sub-account and VISA debit card access (monthly fees apply).
We don’t just look at the black and white boxes on your home loan application. We make the effort to get to know you – the person behind the application. We ask the questions that matter and look to uncover the meaning behind any blips on your credit report, which allows us to make an informed decision and an interest rate based on your ability to repay a loan with us. Interest rates are determined using a range of factors (including your property goals, income and financial details).
It’s our flexible approach that helps more Aussies achieve their dreams of buying their new home.
For new owner occupier variable rate home loans, making principal and interest repayments. Up to 55% LVR. View our full interest rate range.
Variable rate: % - 9.80% p.a.
Comparison rate^: % - 9.93% p.a.
Variable rate: 5.94% - 9.80% p.a.
Comparison rate^: 6.12% - 9.93% p.a.
Variable rate: 6.09% - 10.34% p.a.
Comparison rate^: 6.27% - 10.48% p.a.
Variable rate: 6.19% - 10.64% p.a.
Comparison rate^: 6.37% - 10.77% p.a.
Variable rate: 6.29% - 10.09% p.a.
Comparison rate^: 6.47% - 10.22% p.a.
Variable rate: 6.49% - 10.19% p.a.
Comparison rate^: 6.67% - 10.32% p.a.
Variable rate: 7.09% - 10.29% p.a.
Comparison rate^: 7.27% - 10.42% p.a.
Variable rate: 7.49% - 10.79% p.a.
Comparison rate^: 7.67% - 10.93% p.a.
Variable rate: 5.89% - 10.15% p.a.
Comparison rate^: 6.07% - 10.28% p.a.
Variable rate: 6.24% - 10.15% p.a.
Comparison rate^: 6.42% - 10.28% p.a.
Variable rate: 6.39% - 10.69% p.a.
Comparison rate^: 6.57% - 10.83% p.a.
Variable rate: 6.49% - 10.99% p.a.
Comparison rate^: 6.67% - 11.13% p.a.
Variable rate: 6.59% - 10.44% p.a.
Comparison rate^: 6.77% - 10.57% p.a.
Variable rate: 6.79% - 10.54% p.a.
Comparison rate^: 6.97% - 10.67% p.a.
Variable rate: 7.39% - 10.64% p.a.
Comparison rate^: 7.57% - 10.77% p.a.
Variable rate: 7.79% - 11.14% p.a.
Comparison rate^: 7.97% - 11.28% p.a.
All applications are subject to credit assessment, loan eligibility criteria and lending limits. Terms and conditions, fees and charges apply. The actual interest rate will depend on the borrower’s circumstances and the information verified during the loan application assessment.
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Discover our flexible approach to home loans. We look at a range of factors to provide eligible borrowers with an interest rate estimate. Find out where you stand today.
Additional terms and conditions apply to Interest Only loans
Redraw funds using online for free, using my.peppermoney
A fee applies for manual redraw
Wondering if a variable interest rate is right for you? Here are some popular questions from other home buyers.
This is a calculation based on your total income, expenses, current credit exposure and your credit history. You can estimate your borrowing capacity in under 5 minutes using our home loan calculator - it’s quick, easy and won’t impact your credit score.
Different lenders charge different upfront and ongoing monthly fees, which should be factored in when saving your deposit. Some of these can be added to your loan balance, while others will need to be paid upfront – fees include establishments or application fees, and risk or mortgage insurance fees. Other smaller fees will be added to your balance each month.
You can view a summary of our home loan fees.
You’ll also need to pay solicitor fees along with local and state government taxes and levies. These can’t be added to your loan balance and are usually paid upon settlement.
A few things in life are certain – and one of them is taxes. While stamp duty varies in each state or territory, it generally needs to be paid upfront and can’t be added to your loan balance.
However, there are different schemes and grants in each state to support first home buyers – so it’s worthwhile checking if you qualify for any support: First Home Owner Grant
To get an estimate of how much stamp duty you might need to pay in each state in Australia, try our Stamp Duty Calculator.
The interest rates tend to vary for each individual, depending on a range of factors:
You can find out what interest rate you might be eligible for in under five minutes using our home loan interest rate calculator. It’s quick, easy and won’t impact your credit score.
To apply for a home loan, you’ll need to provide documents to verify your identity, employment, and financial position.
To prove your identity:
Australian passport
or
International passport showing a valid Australian permanent residency visa
To prove your deposit:
Recent bank statements, showing a savings balance
Recent share trading statement, showing current value
To prove your income:
For PAYG applicants you’ll need two recent payslips plus one of the following:
• Most recent group certificate
• Most recent notice of assessment
• Current letter of employment
• Bank statements - showing last 3 months’ salary
For Self-Employed applicants, the required documents vary depending on how long you’ve been self-employed.
At least six months:
You’ll need to be able to show at least six months of GST and ABN registration and provide an declaration of financial position, as well as one of the following:6 months business bank statements, 6 months BAS-Pepper Money accountant’s letter (not accepted if ABN registered for < 12 months, on loan sizes > $1.5m or on Plus).
Over a year:
1 years’ tax returns and 1 years’ notice of assessments, or
1 years’ financial statements from a registered tax agent or accountant; and
last month of business bank statements
We give you the flexibility to choose between a fixed, a variable rate, or both, on your Pepper Money home loan.
Fixed interest rate
A fixed interest rate home loan simply means that you ‘fix’ the interest rate at whatever the rate is at the time of settlement for a set term (2, 3, 5, 7 or 10 years). That means your interest rate and payments will remain the same over that period, regardless of any increases or decreases to interest rate changes.
A Pepper Money fixed rate home loan may suit borrowers looking for:
Variable interest rate
A variable rate loan is a loan with interest rates that are subject to change throughout the term of your loan. This may be due to changes to the official cash rate set by the Reserve Bank of Australia (RBA) or if your lender changes the interest rate.
Variable interest rates may suit borrowers looking for:
For more information, you can talk with one of our Lending Specialists on 137 377, they’re there to help.
You can choose a Pepper Money split home loan. You can choose to have a portion of your loan with a fixed interest rate for a chosen loan term and the remainder with a variable interest rate. This can give you the flexibility of a variable interest rate loan and the repayment certainty of a fixed interest rate loan. Here’s how it works:
Whether you're confused about variable rates, LMI or LVRs, we've got articles and resources to help.
Information and interest rates are correct as of 15 February 2024 and subject to change at any time.
Information provided is factual information only, and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licenced financial or tax adviser.
All applications are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply. Offers may be continued, withdrawn or changed at any time without notice.
~Pepper Money’s fixed interest rate promotion is only available for new home loan applications not previously submitted. Applications must be submitted between 12:00am AEST 17 April 2023 until 11:59pm AEST 12 May 2023 and formally approved by 5:00pm AEST 19 May 2023 (Promotion Period). A fixed rate lock application form will need to be submitted prior to 19 May 2023 to lock in the applicable fixed interest rate for 90 days, otherwise the fixed interest rate at settlement will apply. Home loan applications submitted after 12 May 2023 will be offered the current interest rates then applicable. Offer is not available to existing Pepper Money home loan borrowers. This offer is subject to change, and may be varied or withdrawn at any time.
#There is a non-refundable, minimum fee of $750 per home loan application payable at settlement to lock in a fixed interest rate for 90 days. For home loan balances greater than $500,000, the rate lock fee is 0.15% of the fixed interest rate loan balance at settlement. For example, for a fixed rate loan amount of $600,000 the rate lock fee will be $600,000 x 0.15% = $900. The lesser of the fixed interest rate at settlement or the applicable locked in fixed interest rate will be applied at settlement. The rate lock fee will be charged at settlement even if interest rates decrease after the rate lock request has been approved.
* Our interest rates:
Pepper Money variable interest rates range from 6.84%p.a.-12.19% p.a. (Comparison rates range from 7.02%p.a.-12.34%p.a.^) View all variable rates »
Pepper Money 2 year fixed interest rates range from 6.84%p.a.-12.19%p.a (Comparison rates range from 7.02%p.a.- 12.27%p.a.^). View all fixed rates » .
The actual interest rate will depend on the borrower’s circumstances and the information verified during the loan application assessment.
^ Comparison rate is calculated based on a secured loan of $150,000 and a term of 25 years. 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.
Visa Debit card is issued by Indue Limited ABN 97 087 822 464 and distributed by Pepper Finance Corporation Limited ACN 094 317 647 and/or through Pepper Money accredited mortgage brokers. Refer to the Conditions of Use and Target Market Determination (TMD).
