The Barefoot Investor only got 2 out of 4 of the cheapest home loan rates right. Here's why

Scott Pape, aka the ‘Barefoot Investor’ recently sent an email to his tribe with the subject line: “The 4 cheapest home loans on the market in June.”

Scott Pape, aka the ‘Barefoot Investor’ recently sent an email to his tribe with the subject line: “The 4 cheapest home loans on the market in June.”

You can read snippets of it in
at Yahoo Finance.

Before we go any further, let’s get one thing clear. I’m a Barefoot convert and a big fan of Scott’s teachings. Here’s the proof (you’ll understand if you’ve read the book):

But back to the email.

There are 3 really important things about his email.

  1. He actually only got 2 out of the 4 cheapest home loans right. There’s a good reason he didn’t quite get 100% right, which I’ll get into shortly…
  2. He makes reference to his ‘$22,064 phone call’ script which could actually be more than that depending on your circumstances.
  3. And he makes an extremely telling point that, “These rates are generally only for eligible borrowers.”

    Let’s get into each of these in a bit more detail.

Point number 1…

.

The real reason he didn’t get them all right is because it’s way more complicated and way more time consuming than it should be for people to find their best deal.

We’ve been building this capability at
for the last 3 years and we don’t even have 100% of the market covered.

The difference with UNO is you can scan the market in seconds rather than days or weeks…

Which brings me to:

Point number 3…

(I’ll come back to 2 in a minute because it’s super important.)

Even though 2 of those 4 deals are some of the cheapest in the market, that actually means nothing in relation to your personal circumstances.

Scott’s point is this, and it’s a very good one:

’ lowest interest rate is.

Your address, your income, the number of dependants you have and the current deal you have with your current lender are all different to the person next to you and all impact your eligibility for specific deals.

So, even though we have interest rates right now from under 3% you should take that with a grain of salt until you
because your best rate could be very different to ‘The’ best rate.

This is one of the reasons comparison sites are finally getting a bad name. Comparison sites show low
and sell your clicks to the highest bidder, even though that click may be a complete waste of your precious time, because the rate is simply irrelevant to you based on the lender’s eligibility requirements…

This is also the reason the ACCC absolutely smashed
stated that:

but definitely monitor your personal situation and be on the lookout for a better deal.

You can do this for free using a tool called loanScore.
.

Let’s finish up with point number 2. The ‘$22,064 phone call’ script.

Point number 2…

It’s a great script and if you like being the negotiator you should try it, but as Scott says, it’s a “well-worn script”.

On top of that, we found that 50% of the 1500 mortgage holders we surveyed recently were afraid to discuss their finances with their bank or broker.

So, if you’re the type of person who would prefer to leave the negotiating to the professionals then we’re happy to make the call for you.

Because we’re dealing with lenders every day we not only know the price they offer customers but the price they don’t tell customers about … (remember the ‘discretionary pricing’ I mentioned above?)

You have to know when you can ask for it and how much you can ask for.

Some lenders offer it and some don’t. We’ll keep them honest for you and give you your best chance of getting a great deal!

All you need to do is:

  • Get your loanScore to find out if you’re paying too much for your current loan – If you’re on a great deal already then well done! But remember, a good home loan today might be a bad home loan tomorrow. It all depends on what’s out there in the market for you. (you can set a savings threshold for when you’d like to be alerted to a better deal)
  • See if you can save money with your existing lender or if it’s worth your while switching to a new lender
  • Let us know if you’d like our help with either of those options and we’ll get the ball rolling for you. The good part is, it’s all free…

    and find out if you’re paying too much for your home loan.

5 stars for our service reviews from clients

Book Call Now

UNO home loans

Try Plans, by UNO
Mortgage calculators completely reimagined
Get Started
Considering a purchase or refinance?

Try Plans by UNO

Mortgage calculators completely reimagined
Get Started
☎️ 🚫 No cold call promise

Related Articles

TESTIMONIALS

What our customers are saying

Dylan Aubrey
May 31, 2025
5 stars for our service reviews from clients
Jesse did a great job with helping me secure my loan, will be using him again in the future
Read more
Tom Deal
May 30, 2025
5 stars for our service reviews from clients
This is the second time I’ve worked with Mike Parsons, and I wouldn’t go anywhere else for mortgage advice. He’s extremely knowledgeable, responsive, and always happy to help. Mike takes a consultative approach, presenting clear options and making the whole process stress-free. Friendly, professional, and genuinely invested in getting the best outcome. Highly recommend and will definitely use him again!
Read more
ShelleyGawith Functional Nutrition
May 27, 2025
5 stars for our service reviews from clients
Paul was amazing to work with. He went out of his way to help us with every last question. He sorted everything out for us, was a wealth of knowledge in terms of who else to use to support us in the buying process. He made moving from New Zealand so easy. He explained everything to us in an easy to understand way. He really worked for us!!! Plus he's such a lovely funny guy, super approachable. Super responsive, has a great team. Totally took care of us in the whole process. I can't wait to use Paul again and would recommend him to every kiwi moving over and all our aussie friends :)
Read more
Matt Carter
May 21, 2025
5 stars for our service reviews from clients
Paul from Uno has been amazing. Made it so easy! Highly recommend and made the finance process much more enjoyable experience for us.
Read more
Timothy Semsarian
May 17, 2025
5 stars for our service reviews from clients
UNO went above and beyond to help my wife and I with our home loan and settlement. Couldn’t recommend them enough - Jake Wood was an absolute legend! Kept us informed during the whole process and was very thorough with his work, even with a very tight timeframe. Thank you again for all your help, and looking forward to continue using your services!
Read more
Patti Jo Mogensen
May 16, 2025
5 stars for our service reviews from clients
100% Rockstar. We found Paul and Uno Home Loans from recommendations from people who had used his services. We know understand why he comes so highly recommended. We definitely put Paul and his team under pressure due to an oversight our end which meant that he had to don his superman cape and work miracles for us. We didn't appreciate the very very short window we created for ourselves (think less than two weeks for settlement). Paul was able to wave his magic wand, come up with multiple solutions to our situation and make it all happen seamlessly. It goes without saying then, without reservation that we recommend Paul and his team as our trusted mortgage advisor! Thanks again Paul. *****The limoncello is on route we promise :)
Read more
Lani Wards
May 13, 2025
5 stars for our service reviews from clients
Paul Davey worked very hard to get us the mortgage we required for our investment property. He is knowledgeable and approachable. Thanks Paul!
Read more
Michael Badham
May 13, 2025
5 stars for our service reviews from clients
Our entire process with Uno went very well. We had a unique set of requirements for our loan and our super friendly broker Mike Parsons managed to secure us the perfect outcome. Mike also worked above and beyond our expectations to make sure the whole process of completing the documentation of switching banks went smoothly.
Read more
Vanessa Koster
May 13, 2025
5 stars for our service reviews from clients
The service recieved from Paul was fantastic. He made the whole process stress free & easy. We started the process from NZ & Paul had everything ready for approval as soon as we landed in Aus. I would highly recommend Paul if you require a mortgage. You won't be dissapointed.
Read more
Peta Hemmings
May 13, 2025
5 stars for our service reviews from clients
Paul has been amazing throughout our entire home loan process, we have recommended him to many of our family and friends. He has been extremely helpful and professional right from the beginning.
Read more
Ryan Whittle
May 12, 2025
5 stars for our service reviews from clients
Highly recommended, Paul and his team made the process very streamlined delivering the best possible results.
Read more
Tiana Perez
May 10, 2025
5 stars for our service reviews from clients
Paul and Dalby were incredible to deal with, from the first interaction with Paul a few months prior, to getting approval to purchase, through to the last minute helping us with the final settlement details. Their communication was second to none and they truly went the extra mile. Paul managed to get us more borrowing power than dealing with the bank directly. I couldn't recommend Paul and his team enough. Paul and Dalby, thank you so much for putting hours and hours of work into our application. We really appreciate it!
Read more