Standard Variable Home Loan (LVR 80%-90%)
- Last updated on 08 Jul 2020
based on $300,000 loan amount for 25 years
- No ongoing fees
- 100% full offset account
- Parents can sign as guarantor
- Extra repayments + redraw services
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$5k - $100m
Principal & interest
Loan term range
1 - 30 years
100% offset account
Unlimited extra repayments
Redraw fee: $0
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Total estimated upfront fees
Other upfront fee
Minimum SMSF Amount
Compare and review home loans with similar features
Bank First, formerly known as Victoria Teachers Mutual Bank, is a mutually-owned baking institution established in 1972.
While it was initially set up by teachers to service people working in the education sector, it is now open to anyone.
It offers a range of financial services products, including transaction accounts, savings accounts, insurance products and a range of personal and home loans.
Bank First Home Loan Calculator
Interested in a Bank First home loan? RateCity has a suite of calculators that can show you what your repayments would be and how Bank First compares to its competitors. Simply plug in your borrowing amount below.
It’s no longer possible to get a no-deposit home loan in Australia. In some circumstances, you might be able to take out a mortgage with a 5 per cent deposit – but before you do so, it’s important to weigh up the pros and cons.
The big advantage of borrowing 95 per cent (also known as a 95 per cent home loan) is that you get to buy your property sooner. That may be particularly important if you plan to purchase in a rising market, where prices are increasing faster than you can accumulate savings.
But 95 per cent home loans also have disadvantages. First, the 95 per cent home loan market is relatively small, so you’ll have fewer options to choose from. Second, you’ll probably have to pay LMI (lender’s mortgage insurance). Third, you’ll probably be charged a higher interest rate. Fourth, the more you borrow, the more you’ll ultimately have to pay in interest. Fifth, if your property declines in value, your mortgage might end up being worth more than your home.