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- Home Loans
- Australian Mutual Bank
- First Home Buyer Loan Variable Rate
First Home Buyer Loan Variable Rate
- Special
- Owner Occupied
- Variable
- 5% min deposit
- P&I
Borrow up to 95% without requiring LMI under the First Home Loan Deposit Scheme
Interest rate p.a.
6.19%
Comparison rate* p.a.
6.23%
First Home Buyer Loan Variable Rate
- Special
- Owner Occupied
- Variable
- 5% min deposit
- P&I
Interest rate p.a.
6.19%
Comparison rate* p.a.
6.23%
Australian Mutual Bank Variable Rate Home Loan overview
For First Home Buyer Basic Loan
Principal & Interest (P&I)
Loan type
Loan to value ratio
Interest rate
Comparison rate
Interest only
Loan type
Loan to value ratio
Interest rate
Comparison rate
Details
Maximum LVR
95%
Total repayments
Interest rate type
Variable
Borrowing range
$20k - $10m
Suitable for
Owner Occupiers
Loan term range
1 - 40 years
Repayment type
Principal and Interest
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Fortnightly, Monthly, Weekly
Target Market Determination
Visit Australian Mutual Bank Ltd to view Target Market Determination.
Features
Extra repayments
Unlimited
Redraw facility
Redraw fee: $0
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
Assistance with applying for the First Home Owner Grant, Complimentary Financial Planning assessment and Family Support Option available.
Fees
Total estimated upfront fees
$0
Application fee
$0
Legal fee
$0
Valuation fee
$0
Settlement fee
$0
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$180
Pros and Cons
For First Home Buyer Loan Variable Rate
Benefits
- Interest rates ranked in the best 20%
- No upfront or ongoing fees
- Suitable for low deposits
- Parents can sign as guarantor
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- No offset account
- Discharge fee at end of loan
- No repayment holidays
