Australian owned with 35 years experience in home and investment loans, firstmac is a trusted alternative to the big banks. It’s also a premier sponsor of the Brisbane Broncos, so pull on your jersey and check out the home loan options from firstmac.
Rates and fees verified as correct at 13 August, 2020. Other information correct at the time of writing.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.63% p.a. | 4.06% p.a. | $0.00 | $720 | ||
| 3.23% p.a. | 3.70% p.a. | $0.00 | $720 | ||
| 3.43% p.a. | 3.71% p.a. | $0.00 | $720 | ||
| 3.03% p.a. | 3.24% p.a. | $0.00 | $720 |
Take out a variable home loan with firstmac, and you can borrow up to 90% of the property’s value, as long as that isn’t more than $1 million. You’ll also have a bunch of great features at your disposal, including unlimited fee free extra repayments, a free redraw facility and the use of an offset account. Just don’t forget to budget for the upfront legal, valuation and settlement fees attached to this offer.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.14% p.a. | 3.17% p.a. | $0.00 | $720 | ||
| 2.94% p.a. | 2.97% p.a. | $0.00 | $720 | ||
| 2.99% p.a. | 3.02% p.a. | $0.00 | $720 | ||
| 2.69% p.a. | 2.72% p.a. | $0.00 | $720 | ||
| 4.13% p.a. | 4.19% p.a. | $0.00 | $720 | ||
| 3.68% p.a. | 3.74% p.a. | $0.00 | $720 | ||
| 3.73% p.a. | 3.79% p.a. | $0.00 | $720 | ||
| 3.23% p.a. | 3.29% p.a. | $0.00 | $720 | ||
| 4.23% p.a. | 4.29% p.a. | $0.00 | $720 | ||
| 3.78% p.a. | 3.84% p.a. | $0.00 | $720 | ||
| 3.83% p.a. | 3.89% p.a. | $0.00 | $720 | ||
| 3.23% p.a. | 3.29% p.a. | $0.00 | $720 | ||
| 2.84% p.a. | 2.90% p.a. | $0.00 | $720 | ||
| 4.03% p.a. | 4.09% p.a. | $0.00 | $720 | ||
| 3.58% p.a. | 3.64% p.a. | $0.00 | $720 | ||
| 3.63% p.a. | 3.69% p.a. | $0.00 | $720 | ||
| 3.13% p.a. | 3.19% p.a. | $0.00 | $720 | ||
| 4.13% p.a. | 4.19% p.a. | $0.00 | $720 | ||
| 3.68% p.a. | 3.74% p.a. | $0.00 | $720 | ||
| 3.73% p.a. | 3.79% p.a. | $0.00 | $720 | ||
| 3.13% p.a. | 3.19% p.a. | $0.00 | $720 | ||
| 2.83% p.a. | 2.89% p.a. | $0.00 | $720 |
‡ 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.
| Free extra repaymentsFree extra repayments | Pay off your mortgage faster with free extra repayments. Just remember that while these additional repayments are unlimited on variable rate options, they’re capped at $10,000 p.a. on the fixed rate package offer. |
| Offset accountOffset account | Choose a variable rate option from firstmac and you’ll have the use of an offset account to keep interest costs low. |
| No ongoing feesNo ongoing fees | No matter which firstmac home loan offer you choose, there are no ongoing fees to pay. But keep in mind you will have to budget for several upfront fees instead. |
So how do firstmac home loans stack up in terms of trust, customer service and convenience? There’s no better people to ask than the everyday Aussies who have borrowed from firstmac already. Check out what they have to say in our customer review section.
They offered a decent enough intro though found quickly enough that the rest of their features and service is severely lacking. Internet banking a very very long way behind other banks. Asked for a review on our loan interest rate and it took them...
They offered a decent enough intro though found quickly enough that the rest of their features and service is severely lacking. Internet banking a very very long way behind other banks. Asked for a review on our loan interest rate and it took them almost a week to get back to us. And don’t worry about visiting a branch.
Chris, Western Australia, reviewed about 2 months ago
Firstmac, good bank for multiple mortgages. A bit expensive but good enough.
Firstmac, good bank for multiple mortgages. A bit expensive but good enough.
Brian, New South Wales, reviewed about 2 months ago
Cheap rate but the worst service. You get what you pay for. I thought supporting a smaller business would be the right thing but they are a joke. Small mindset staff by a small team. Incompotent.
Cheap rate but the worst service. You get what you pay for. I thought supporting a smaller business would be the right thing but they are a joke. Small mindset staff by a small team. Incompotent.
Terry, Victoria, reviewed 5 months ago
The process to apply for a Firstmac loan was agonising and time consuming. We used Lendi to apply and experienced poor communication, changing requirements/documentation requirements. From first contact it took 4 weeks to obtain pre-approval and...
The process to apply for a Firstmac loan was agonising and time consuming. We used Lendi to apply and experienced poor communication, changing requirements/documentation requirements. From first contact it took 4 weeks to obtain pre-approval and now they request further information, not even mentioned during the original request e.g. they now want a retirement strategy in case we still have a loan when we retire, our assets to debt ratio is 5 to 1 and investment income is more than required to pay the loan. The delays and stress are not worth it.
Cade, New South Wales, reviewed 6 months ago
Good bank, easy to deal with, good rates. No branches or ATMs.
Good bank, easy to deal with, good rates. No branches or ATMs.
Brian, New South Wales, reviewed 9 months ago
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You can apply for a home loan online via the firstmac website, or, you can arrange to have them call you back to set up an application. When you apply, make sure you have a few details on hand, including: