Athena Home Loans launched onto the scene in 2019 with a singular goal: making the path to home ownership as smooth - and as short - as possible. Founded by two former NAB executives, the young upstart isn’t afraid of ruffling a few feathers. It’s christened itself “the home loan wrecker,” and the low rates on offer promise to do just that. If you’re looking for an alternative to the big banks, or maybe the deals currently out there don’t give you much to get excited about, Athena offers a long-awaited alternative.
Rates and fees verified as correct at 22 August, 2019. Other information correct at the time of writing.
Athena offers both principal and interest and interest only home loans for owner occupiers and investors at super competitive low rates. At the moment, loans are only available for refinancers borrowingup to 80% of the property’s value, but there are some exceptions. Depending on the type of property, its location, and whether it’s valued at over $2.5 million, you may only be eligible to borrow up to 70%.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ | |
|---|---|---|---|---|---|---|
| 3.59% p.a. | 3.49% p.a. | $0.00 | $0 | Go to site | ||
| 3.49% p.a. | 3.45% p.a. | $0.00 | $0 | Go to site | ||
| 3.59% p.a. | 3.24% p.a. | $0.00 | $0 | Go to site | ||
| 3.09% p.a. | 3.05% p.a. | $0.00 | $0 | Go to site |
‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
| Low ratesLow rates | The one thing most likely to catch your eye is the super low rates on offer, which put Athena Home Loans among the best value home loans in our database. But how can it offer such low rates? For one thing, it doesn’t have the kind of overhead costs the big banks have, meaning it’s able to pass the savings onto customers. It also receives investment funding directly from the Australian superannuation industry. |
| Loyalty bonusLoyalty bonus | Driving home its commitment to customer satisfaction, Athena offers a pretty stellar bonus for loyal customers. If you have no problem keeping up with your repayments, you’ll get an 0.01% discount on your home loan each year for the first five years. |
| Minimal feesMinimal fees | One of the big appeals of Athena is how it’s managed to rid home loans of a lot of those pesky fees, leaving only a few third party costs to worry about. Valuation costs usually range from $25 - $183 if the job can be done from behind a desk, which will be the case for most urban properties, though the cost can run upwards of $268 for more remote or unusual properties. You’ll also have to pay around $308 for solicitor settlement costs and upwards of $116 for government refinance costs. |
| Easy accessEasy access | Not only is the application process a breeze, once you’ve been approved you’ll be able to manage your loan easily from your desktop or phone. The Athena Home Hub provides you with access to your loan, overview of your transaction history, and a convenient way to make payments all in one. |
