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Smart Start Home Loan

Customise your mortgage repayments by entering your details:

I want to borrow

Loan Term

years

Repayment Frequency

Pros:
  • No ongoing fees
  • 100% full offset account
  • Suitable for low deposits
  • Parents can sign as guarantor
Cons:
  • Discharge fee at end of loan
  • Not available for self-employed borrowers
  • Repayments may increase if RBA raises rates

Details & Fees

Maximum LVR
Maximum LVR
95%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$150k - $600kCalculate how much you can borrow »
Total repayments
Total repayments
$601,344View repayment schedule »
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
100% offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$657
Application fee
Application fee$0
Settlement fee
Settlement fee$0
Valuation fee
Valuation fee
$297
Legal fee
Legal fee
$360
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee$300
Maximum LVR
Maximum LVR
95%
Interest rate structure
Interest rate structure
Variable
Borrowing range
Borrowing range
$150k - $600kCalculate how much you can borrow »
Total repayments
Total repayments
$601,344View repayment schedule »
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
100% offset account
Extra repayments
Extra repayments
Unlimited extra repayments
Redraw facility
Redraw facility
Redraw fee: $0
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$657
Application fee
Application fee$0
Settlement fee
Settlement fee$0
Valuation fee
Valuation fee
$297
Legal fee
Legal fee
$360
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee$300
Other Benefits
Pre-approved Cash Rewards Visa Credit Card (up to $5,000) with no monthly fee,Free consultation with Bridges Financial Planning , 50% discount off Credit Union fees charged for Foreign Exchange/Currency services, 5% discount off Mortgage Insurance

First Option Credit Union is a member-owned credit union that was founded in 1965. The ‘First Option’ name emerged in 2005 after a merger between TAB Credit Union and Flying Horse Credit Union. Previously, several other smaller industry-based credit unions had been merged into what is now known as First Union.

As a credit union, its members are its shareholders and profits re-invested into the business. While it was initially created to serve employees of some well-known Australian companies, it is now open to everyone.

It provides a variety of financial services, including home loans, car loans, personal loans, savings and transaction accounts, insurance and financial planning.

First Option Home Loan Calculator  
Interested in a First Option home loan? RateCity has a suite of calculators that can show you what your repayments would be and how First Option compares to its competitors. Simply plug in your borrowing amount below.

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