ANZ Home Loan Review (Updated 2026)

Who is ANZ?

ANZ (Australia and New Zealand Banking Group) is one of the Big Four: a large, APRA-regulated bank with a national footprint and a well-established broker channel. Alongside the traditional bank, ANZ also runs ANZ Plus, a separate digital banking app with its own (currently refinance-only) home loan offer, more on that below. For borrowers, ANZ’s appeal is less about being the cheapest and more about specific, valuable policies (particularly its professional LMI waivers) wrapped in the stability of a major.

The top things ANZ home loans are good at

• Professional LMI waivers for eligible medical, legal and accounting professionals: potentially worth many thousands of dollars on a low deposit.
• Strong first-home-buyer support: ANZ participates in the Home Guarantee (5% Deposit) Scheme and helps borrowers apply for the First Home Owner Grant.
• A well-built digital experience: a well-rated app, calculators, rate-change notifications and 24/7 app-based redraw, plus a fully digital refinance path through ANZ Plus for eligible loans.
• 100% offset on variable loans, plus flexible repayment frequencies and extra repayments.
• Big Four stability, with both digital and in-branch/broker support.

Where ANZ home loans fall short

• Full-doc only for the self-employed: there’s no low-doc or alt-doc option, so business owners who can’t fully evidence their income are a better fit elsewhere.
• An unforgiving automated scorecard. Every file is machine-scored with no manual override, so credit-conduct issues can sink an application quickly, and repeated attempts can make it worse.
• Owner-occupier interest-only is capped at 80% LVR, tighter than its investment interest-only appetite.
• ANZ Plus isn’t a purchase option (yet). Its digital home loan is refinance-only, so first-home buyers still go through the standard ANZ process.
• Rarely the cheapest. ANZ competes on service, stability and waivers more than on price, so pure rate shoppers can usually do better elsewhere.

The real edge: professional LMI waivers

This is where ANZ earns its place. Eligible medical practitioners, dentists and specialists can borrow up to 95% of the property value with no LMI; physiotherapists, chiropractors, optometrists and vets up to 90%; and lawyers and fully qualified accountants(CA, CPA and similar) up to 90%. Lawyers don’t even need to work at a firm, they just need to hold a current practising certificate. On a low deposit, waiving LMI can save many thousands of dollars, frequently far more than any small rate difference, which is exactly what our LMI waivers guide is about.

The catch worth knowing: ANZ’s eligible-profession list is narrower than some rivals. Engineers, IT and cyber professionals, nurses, midwives, pharmacists and psychologists are not on it, even though other lenders waive LMI for several of them. If you’re in one of those professions, ANZ isn’t the automatic call. The right waiver may sit with a different bank.

ANZ Plus: the digital arm, and its refinance-only home loan

ANZ Plus is ANZ’s standalone banking app: everyday accounts, savings and, as at July 2026, a refinance-only home loan for eligible existing loans between $10,000 and $2,000,000. The whole process runs inside the app: you apply, e-sign and track your loan digitally, with support from an in-app “Coach” rather than a branch or broker. An offset is available by linking an eligible ANZ Plus Everyday account, for a monthly fee. It’s not available for properties in Tasmania or the Northern Territory, and it’s currently refinance-only: there’s no ANZ Plus purchase loan for first home buyers, so if you’re buying rather than refinancing, the standard ANZ home loan range below is the one to compare.

Worth knowing: ANZ Plus and standard ANZ home loans are assessed and priced separately. If you’re already an ANZ customer and considering a refinance, it’s worth comparing both the ANZ Plus digital path and the standard product against the rest of our panel. The cheapest, fastest option isn’t always the obvious one.

Self-employed and investment policy

ANZ is a full-doc lender: it doesn’t run a low-doc or alt-doc product, so self-employed borrowers verify income the traditional way (generally an 18-month ABN history plus tax returns and BAS statements). It can often work from one year’s financials, but where LMI is involved it usually wants two years, or applies a shading to a single strong year, which can bite if your income jumps around. See our guide to self-employed home loans for how the different lenders compare on this.

On investment lending, ANZ’s maximum LVR is gated by your debt-to-income ratio rather than a flat cap, so a lower-DTI borrower can access a higher LVR than a highly geared one. Investment interest-only appetite is relatively generous, but note the flip side: owner-occupier interest-only is held to 80% LVR. Structuring around these rules is exactly where a broker earns their keep.

What are the different ANZ home loan products?

ANZ’s owner-occupier range centres on a few core products, plus the separate ANZ Plus digital refinance offer above:

ANZ home loan rates

ANZ updates its home loan rates regularly, and your actual pricing depends heavily on your loan-to-value ratio, the product you choose, and whether you qualify for a professional or first-home-buyer benefit. Because advertised rates move constantly, and brokers don’t work from a live ANZ rate sheet, we don’t publish specific rate figures here, as they date quickly. ANZ’s sharper pricing is typically reserved for lower-LVR borrowers and package customers, and introductory discounts are often time-limited to the first 12 months.

Rather than chase a rate that changes week to week, the better move is a like-for-like comparison for your exact situation. Book a free assessment or call 1300 088 065 and we’ll pull live ANZ pricing alongside the 30+ lenders on our panel.

What documents does ANZ need for a home loan?

ANZ’s process still requires thorough documentation to verify your position:

• Proof of identity: a certified copy of your passport or Australian driver’s licence, plus a secondary form such as a Medicare card.
• Income evidence: for PAYG employees, recent payslips and an employment letter or group certificate. For self-employed applicants, tax returns (ATO Notices of Assessment) and BAS statements. One year may be enough in some cases, though LMI-backed loans usually need two.
• Savings and assets: bank statements showing genuine savings of at least 5% of the property value, plus details of any shareholdings or term deposits.
• Liabilities: statements for credit cards, personal loans, novated leases and any buy-now-pay-later or HECS/HELP commitments.
• Property documentation: the signed contract of sale for a purchase, or your current loan statement and rates notice if you’re refinancing.
• Grants and concessions: evidence of First Home Owner Grant eligibility and any stamp duty concession paperwork, if applicable.

The more complete your file, the faster ANZ’s automated assessment can clear it.

How much can I borrow from ANZ?

As a rule of thumb, most banks lend around 4–6× your gross household income, and ANZ can lend up to 95% of the property value (with LMI, or without it for eligible professionals and Home Guarantee Scheme buyers). Your real number depends on your income, expenses, deposit and existing debts:

• Up to 95% LVR is possible with LMI (or without it, for eligible professionals and under the Home Guarantee Scheme), meaning as little as a 5% deposit in the right scenario.
• Serviceability is stress-tested: ANZ assesses your repayments at a buffer rate above the actual rate, and applies its own benchmark for living expenses (or your actual expenses if higher).
• Investment lending is DTI-gated: your maximum LVR on an investment purchase depends on your overall debt-to-income ratio, not a flat cap.

Some illustrative scenarios (estimates only, not a quote or approval):

Note: these are estimates only. For a tailored figure, use a borrowing power calculator or speak to a broker.

How long do ANZ home loans take to approve?

ANZ’s automated scorecard can move quickly once a file is complete, but the real timing depends on how clean your application is from the start:

1. 1Conditional (pre-)approvalA straightforward, well-documented file can score and conditionally approve quickly through ANZ’s automated system, but an incomplete file, or one with credit-conduct flags, can stall or be declined outright.
2. 2Full / formal approvalFollows once the property valuation and any outstanding documents are in. Self-employed or LMI-backed files take longer.
3. 3Documents & settlementOnce approved, signing loan documents and settling typically adds one to two weeks; ANZ Plus refinances are managed and e-signed entirely in-app.

Because ANZ’s scorecard has no manual override, the biggest variable is how clean your file is when it’s first lodged. A broker who packages it correctly the first time avoids the repeated-knockback spiral that can happen with a rushed application.

What else does ANZ offer?

• Government schemes: participation in the Home Guarantee (5% Deposit) Scheme and help with First Home Owner Grant paperwork. See our Home Guarantee Scheme guide.
• Offset and redraw: 100% offset on variable loans, plus 24/7 app-based redraw and rate-change notifications.
• Guarantor loans: a family member’s equity can be used as additional security to help you avoid LMI or buy sooner.
• Construction and bridging finance for building or buying before you sell.
• Full-service banking: everyday accounts, credit cards, business banking and insurance, alongside the separate ANZ Plus digital app.

What are ANZ home loan customers saying?

Customer sentiment on the Big Four is mixed, and ANZ is no exception. In our experience, borrowers tend to praise ANZ’s digital tools and the professional waivers when they’re eligible, while the most common frustrations are the opaqueness of the automated scorecard(files can be declined with little visibility into why) and the documentation load for the self-employed. As with any big bank, individual experiences vary a lot depending on the banker or channel you go through. That’s one reason many borrowers prefer to lodge through a broker who manages the file end to end.

Who ANZ suits, and who it doesn’t

A client story from our desk

How does ANZ compare to other banks?

ANZ is best judged on its specifics rather than its headline rate. Each lender type leads on a different niche. Here’s how it stacks up on the things that actually decide the outcome:

For a plain-vanilla purchase where you just want the lowest variable rate, a digital lender like Macquarie or UBank may beat ANZ; for professional waivers, NAB and Westpac run similar programs worth comparing side by side.

Broker tips for applying with ANZ

• Check the professional waiver first if you’re in an eligible medical, legal or accounting role: the LMI saving can dwarf any rate difference.
• Lodge clean, and lodge once. The scorecard punishes repeat attempts, so it’s worth getting the deposit and structure right before you apply.
• If you’re self-employed with one year’s figures, check whether LMI is in play. It changes the documentation ANZ will want.
• Refinancing an existing ANZ loan? Compare the ANZ Plus digital path against the standard product and the rest of the panel before you commit.
• Not on the waiver list? Have us compare ANZ against lenders whose waiver or policy actually covers your profession before you commit.

Is an ANZ home loan right for you?

ANZ is a strong, stable choice for eligible professionals and first home buyers. But the value is in the specific policies, not the sticker rate, and its automated scorecard and full-doc stance make getting the application right the first time essential. We’ll compare ANZ against 30+ lenders and tell you honestly whether it’s your best fit. Book a free assessment or call 1300 088 065 to get started.