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With lenders struggling to stay under the 10% investment loan cap set down by the Australian Prudential Regulation Authority (APRA), interest rate specials for owner occupied loans are emerging, as banks fight for your home loan.

While investment rates are on the rise, and over the last 3 months nearly ever lender has either withdrawn investment loan offers and/or raised their investment loan rates, banks are vying for owner occupied loans to help balance their lending book.

Even at a quick glance, from the 30 lenders on Fund a Dream’s panel there are over 40 different types of loans for owner occupied lending with a rate under 4%. While each loan will have it’s own features, costs and lending criteria, the longer the bank’s struggle to keep their investment lending down, the more specials will emerge for owner occupied home loans.

Heritage Bank has their current – Discount Variable Special Rate Owner Occupied with an annual interest rate of 3.79% and comparison rate of 3.81% and a low get in cost of $410, while Homeloans Ltd has their Optima Owner Occupied Principle & Interest Loan with a rate of 3.83% pa comparison rate of 3.86%.

If you are hedging your bets and thinking that rates are going to rise in the coming months for owner occupied loans too, there are plenty of great fixed rates on offer as well.

Suncorp has their 3 Year Fixed Home Package Owner Occupied at 3.89% pa and ING has their 3 Year Fixed Orange Advantage Combo with a 3.99% pa rate.

While lenders continue to try and stay out of the APRA spotlight, it is a great time to shop around for a good deal on your owner occupied loan.