Athena just dropped a variable home loan rate below 2%

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Online lender Athena has fired up the mortgage wars of 2021, cutting its variable home loan rates to new record lows. The mortgage challenger says its new Celebrate Home Loan 1.99% comparison rate* for borrowers with 40% deposit or equity is now the lowest fee-free variable home loan rate in the country. 

In fact, the good news keeps coming for potential homeowners: rate reductions of between 5-20bp have been applied across multiple Athena variable home loan offerings for both new and existing customers. Athena's rate cuts follow similar moves by online lenders Tic:Toc and Yard as lenders compete fiercely for refinancers with sizeable equity in their property. 

What’s the catch? No catch. Athena’s chief executive and co-founder, Nathan Walsh says the company is simply committed to giving customers a great rate that stays great. “Now is the perfect moment to pass on seriously compelling fee-free savings to customers, helping them pay down their home loan faster.”


Athena Celebrate Variable Home Loan
  • 1.99% variable and comparison rate* (minimum 40% deposit)

  • No upfront or ongoing fees

  • Extra repayments and redraw facility available

The details:

Offering a super low variable rate of 1.99% (1.99% comparison rate*) for owner occupiers with an LVR below 60%, Athena’s Celebrate Variable Home Loan is a top option for borrowers with either a sizeable deposit or plenty of built up equity. The lack of upfront and ongoing fees will also help mortgage holders keep their costs down, plus there are handy features like the ability to make extra repayments and an online redraw facility for anyone that wants to dip into any additional repayments down the line

Athena Liberate Variable Home Loan
  • 2.19% variable rate (2.08% comparison rate*) for borrows with 20 - 30% deposit

  • Further rate discounts as loan is paid down

  • Zero upfront or ongoing fees

Mortgage hunters with an LVR between 70-80% will struggle to find many lower variable rates than the 2.19% (2.08% comparison rate*) rate on offer to owner occupiers with Athena’s Liberate Home Loan. There are no upfront or ongoing fees to budget for and borrowers who want to pay off their loan faster will be able to do so by making (fee-free) extra repayments. Speaking of paying down the loan, Athena will automatically discount your rate further as you pay off more of your loan (and your LVR drops).

*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 the amount and term you entered.

**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. 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.

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Want to compare more home loans? View the latest mortgage rates from over 80 lenders at Mozo's home loan comparison hub.