The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $1,000,000 with an LVR below 80%
The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $1,000,000 with an LVR below 90%
The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $1,000,000 with an LVR below 98%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 80% | $150,000 | $1,000,000 |
| | Owner Occupier | Principal & Interest | 80%-90% | $150,000 | $1,000,000 |
| | Owner Occupier | Principal & Interest | 90%-98% | $150,000 | $1,000,000 |
Owner Occupier (Principal & Interest)
LVR < 80%
Loan: $150,000 $1,000,000
Owner Occupier (Principal & Interest)
LVR 80%-90%
Loan: $150,000 $1,000,000
Owner Occupier (Principal & Interest)
LVR 90%-98%
Loan: $150,000 $1,000,000
The First Rate Home Loan from Bank First comes with relatively competitive variable rates from 2.84% p.a. (2.89% p.a. comparison rate*), plus a number of additional features including free extra repayments and a redraw facility. If you’re a first home buyer you also won’t need to spring for the usual $300 application fee.
Bank First’s First Rate Home Loan offers relatively competitive variable rates from 2.84% p.a. (2.89% p.a. comparison rate*) for owner occupiers with a loan-to-value ratio (LVR) below 80% on loans between $150,000 and $1,000,000. There are also slightly higher rates available for borrowers with higher LVRs (or lower deposits). That means the loan could be an option for first home buyers or borrowers with deposits under 20%, though just remember, a higher LVR may mean that you'll be required to take out lenders mortgage insurance.
Borrowers will be able to opt to make repayments on a weekly, fortnightly or monthly basis, so they can make sure their mortgage is in sync with their regular pay cycle. Extra repayments can also be made towards the loan balance at no additional cost and the redraw facility means that, if your circumstances change and those repayments could be better served back in your pocket, you can easily retrieve them. Just keep in mind that there’s a minimum redraw amount of $500.
There’s also a $300 application fee, $400 settlement fee and a $395 discharge fee. But anyone taking their first steps on the property ladder will be happy to hear the application fee will be waived for first home buyers.
The First Rate Home Loan could suit any owner occupiers looking for a relatively low-rate mortgage with plenty of built-in flexibility. First home buyers in particular may appreciate the low rate, lack of application fee, and the maximum LVR of 98%.
The First Rate Home Loan is only available to owner occupiers, not investors. And don't forget that if you plan to make use of the redraw facility, the minimum amount you can redraw is $500.
| 2.84% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| 2.89% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a |
| $300.00 | |
| $0.00 | |
| $0.00 | |
| $400.00 | |
| n/a | |
| $0.00 | |
| $395.00 |
| $150,000 | |
| $1,000,000 | |
| none | |
| 80.00% |
| Owner Occupier | |
| Principal & Interest | |
| Weekly, Fortnightly, Monthly | |
| yes - free | |
| no | |
| yes - free | |
| $500.00 | |
| yes | |
| no | |
| none | |
| Application fee waived for first home buyers. | |
| none |
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 $150,000 over 25 years.
| 3.04% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| 3.09% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a |
| $300.00 | |
| $0.00 | |
| $0.00 | |
| $400.00 | |
| n/a | |
| $0.00 | |
| $395.00 |
| $150,000 | |
| $1,000,000 | |
| 80.00% | |
| 90.00% |
| Owner Occupier | |
| Principal & Interest | |
| Weekly, Fortnightly, Monthly | |
| yes - free | |
| no | |
| yes - free | |
| $500.00 | |
| yes | |
| no | |
| none | |
| Application fee waived for first home buyers. | |
| none |
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 $150,000 over 25 years.
| 3.14% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| 3.19% p.a. | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a |
| $300.00 | |
| $0.00 | |
| $0.00 | |
| $400.00 | |
| n/a | |
| $0.00 | |
| $395.00 |
| $150,000 | |
| $1,000,000 | |
| 90.00% | |
| 98.00% |
| Owner Occupier | |
| Principal & Interest | |
| Weekly, Fortnightly, Monthly | |
| yes - free | |
| no | |
| yes - free | |
| $500.00 | |
| yes | |
| no | |
| 98% LVR available only to first home buyers, otherwise maximum LVR is 95%. | |
| Application fee waived for first home buyers. | |
| none |
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 $150,000 over 25 years.
I have to work hard at it but they will match any bank interest home loan rate I find.
Read full reviewI have to work hard at it but they will match any bank interest home loan rate I find.
loans.com.au
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fixed 3 years
3.58% p.a.
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3.03% p.a.
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Smart Booster Home Loan
1.85% p.a.variable for 24 months and then 2.25% p.a.
2.21% p.a.
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1.98% p.a.
2.15% p.a.
Newcastle Permanent
Fixed Rate Home Loan (Premium Plus Package)
2.09% p.a.
fixed 3 years
3.58% p.a.
Qudos Bank
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1.99% p.a.
fixed 3 years
2.59% p.a.
Bank of Queensland
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2.19% p.a.
fixed 3 years
3.03% p.a.
loans.com.au
Smart Booster Home Loan
1.85% p.a.variable for 24 months and then 2.25% p.a.
2.21% p.a.
$0.00
Bank of Queensland
Economy
1.98% p.a.
2.15% p.a.
$10.00 monthly
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 $150,000 over 25 years.
