Can I buy a home online? Yes, here’s how

two asian women on a couch looking up how to buy a home online

Believe it or not, buying homes virtually is possible. Whether it’s because you’re moving far away for a new job, or simply because you want to live somewhere far away from your current location, or maybe there is a worldwide pandemic that doesn’t let you leave your home.

Even before the pandemic, there were online lenders offering home loans exclusively online, like Athena.

“In the next 15 years, 30 per cent of home loans will originate online, shifting from the current 3 per cent,” said Nathan Walsh, CEO of Athena, an exclusively online lender.

Much like purchasing a home locally, there are several home buying steps you need to take before you have the keys to your new place. However, unlike buying a home in person the process may be a bit more difficult due to the ‘remote’ nature of it.

One key factor to consider is getting an agent who will do thorough inspection of properties on your wish list and properly convey all the features of prospective houses (good and bad). 

Aside from finding someone to do all the inspections for you and give you a virtual home tour. Buying a home online is relatively simple and not too dissimilar to going to a physical institution.

Unlike your typical bank lenders, an online lender “process is that all information is collected digitally,” said Melissa Christy, head of lender at 86 400.

There are even lenders like 86 400 who may provide you with a pre-approval outcome in 24 hours. 

“Today, more and more people are confident to do things online or via their mobile - this includes getting a home loan. Getting a home loan online for some customers provides convenience that they can do it in their own time,” said Christy.

Steps to buying online

  • Get a loan pre-approval through an online provider
  • Find a real estate agent to do the inspecting for you
  • Use property portals like Domain to shop for the right home
  • Submit an offer
  • Get your home loan approved
  • Plan your move and pack your bags

If you’re in the market for a new home, check out our top online home loan lenders.

Home loan comparisons on Mozo - rates updated daily

Search promoted home loans below or do a full Mozo database search. Advertiser disclosure.
  • placeholder
    Mozo Experts Choice 2021
    Smart Booster Home Loan

    2 Year Discounted Variable Rate, Owner Occupier, Principal & Interest, <80% LVR

    interest rate
    comparison rate
    Initial monthly repayment
    1.85% p.a.variable for 24 months and then 2.25% p.a. variable
    2.21% p.a.

    New super low introductory rate home loan for two years. Min 20% deposit. No monthly or ongoing fees. Fast settlement times. Mozo award-winning online lender. Friendly, local Australian based team.

    Go to site
    Details
  • placeholder
    Mozo Experts Choice 2021
    UHomeLoan

    Owner Occupier, Interest Only

    interest rate
    comparison rate
    Initial monthly repayment
    2.09% p.a.
    fixed 3 years
    2.30% p.a.

    $0 ongoing fees, $0 annual fees & easy apply. Choose between weekly, fortnightly or monthly repayments.

    Go to site
    Details
  • placeholder
    Mozo Experts Choice 2021
    Celebrate Variable Home Loan

    <60% LVR, Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    1.99% p.a. variable
    1.99% p.a.

    Fast and efficient online application. Automatic discounts as loan is paid down. Free extra repayments and redraw facility. Zero fees. Min 40% deposit required. Winner of three Mozo Expert's Choice Awards for 2021.

    Go to site
    Details
  • placeholder
    Variable Home Loan

    Owner Occupier, Principal & Interest

    interest rate
    comparison rate
    Initial monthly repayment
    1.99% p.a. variable
    1.99% p.a.

    Refinance only. Super-fast digital application process. Zero upfront fees. No on-going service fees. Free 100% offset sub account. Apply Online & Refinance before 29 October 2021 for the chance to WIN your home loan interest free - Save up to $1.1 million. T&Cs apply.

    Go to site
    Details
  • placeholder
    Basic Home Loan

    Fixed, Owner Occupier, Principal & Interest, LVR<70%

    interest rate
    comparison rate
    Initial monthly repayment
    2.09% p.a.
    fixed 3 years
    2.32% p.a.

    No upfront or ongoing fees. Free extra repayments and redraw facility. Option to earn Qantas points. Min 30% deposit required. Borrow up to $750,000.

    Go to site
    Details

* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

^See information about the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.