Athena is an online-only mortgage provider based in Sydney. As a digital non-bank lender, Athena can provide competitive interest rates and personalised customer service to help customers save time and money on their mortgage. Athena also offers like for like loans, where existing Athena customers get to enjoy the same interest rates as new customers, so nobody misses out on the best available rate from Athena.
Athena home loans rates
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- Like-for-like loans
- No application fees, ongoing fees or exit fees
- Bonus loyalty discount
- Currently only available to refinancers
- Not available to self-employed borrowers
- Not available to borrowers outside capital cities and regional centres
How to Apply
You can apply for an Athena home loan online via the Athena website. You can also contact Athena by phone for more information.
To apply for an Athena home loan, you’ll need to fulfil the following criteria:
- Up to 2 applicants in total, over the age of 18
- Borrow 80% or less of the value of your property. In certain cases you might only be able to borrow up to 70%.
- At least one applicant is employed, including full-time, part-time & casual PAYG employment
- Your property is in a capital city or major population centre
- Australian/NZ citizens (living in Australia) or permanent residents
- You have good credit history
At the time of writing, Athena only offers home loans for refinancing other mortgages, though Athena home loans for buying property may be added in the future.
About Athena home loans
Athena offers a relatively small selection of home loan options compared to some other mortgage lenders. There are Principal & Interest and Interest Only home loan options for owner occupiers and investors available, with no application fees, ongoing fees or annual fees. These loans can also offer access to fee-free extra repayments and redraws. Athena has plans in place to release additional loan options in the future, to suit a greater variety of households and budgets.
Once you’ve successfully applied for an Athena home loan, you’ll be able to access your account by logging in online at the Athena website. You can also access additional information and resources, including home loan calculators to help you estimate your potential savings if you were to refinance and switch to an Athena home loan.
Athena home loan rates
Athena’s lowest interest rates are available to owner occupiers paying principal and interest. Owner occupiers who choose to pay interest only for up to five years will pay a moderate interest rate, compared to the very low rate for a P&I loan.
Investors who switch to an Athena home loan can pay a moderately low interest rate for a principal and interest loan, or pay interest only for up to five years at a very low rate.
Athena offers interest rate discounts as a loyalty bonus, which can build up over five years to lower your rate by an extra 0.05%. Upfront opening discounts may also be available.
Athena offers like-for-like home loans, to help keep Athena customers from missing out on savings. If Athena offers a lower home loan interest rate to new customers, existing Athena customers with the same type of mortgage will receive an automatic rate match.
Athena home loans review
Athena home loans presently only offers mortgages for customers who are refinancing existing home loans, though that may change in the future. Owner occupiers and investors can get principal and interest or interest only home loans, provided they have a Loan to Value Ratio (LVR) of 80% or less, a good credit history, a property in a capital city or regional centres, and aren’t self-employed.
Athena’s interest rates are moderate to very low, and allow borrowers to enjoy loyalty discounts over times. Plus, like-for-like loans means existing Athena customers should enjoy the same interest savings as new customers in the future.
Athena doesn’t charge fees for its home loans, so customers should only need to pay third party costs on their home loan. Unlimited extra repayments are available, plus fee-free redraws for when you want your extra savings back in your pocket.
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Real Time RatingsTM looks at your individual home loan requirements and uses this information to rank every applicable home loan in our database out of five.
This score is based on two main factors – cost and flexibility.
Cost is calculated by looking at the interest rates and fees over the first five years of the loan.
Flexibility is based on whether a loan offers features such as an offset account, redraw facility and extra repayments.
Real Time RatingsTM also includes the following assumptions:
- Costs are calculated on the current variable rate however they could change in the future.
- Loans are assumed to be principal and interest
- Fixed-rate loans with terms greater than five years are still assessed on a five-year basis, so 10-year fixed loans are assessed as being only five years’ long.
- Break costs are not included.