Smart Start Home Loan (Interest Only)
specialFirst Option will contribute up to $1000 to cover costs
based on $300,000 loan amount for 25 years
- No upfront or ongoing fees
- 100% full offset account
- Suitable for low deposits
- Parents can sign as guarantor
- Discharge fee at end of loan
- Repayments may increase if RBA raises rates
Interest rate structure
$150k - $600k
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
Estimated upfront fees
Minimum SMSF Amount
- Special First Option will contribute up to $1000 to cover costs
Compare and review home loans with similar features
First Option Bank is a member-owned mutual bank that was founded in 1965. The ‘First Option Credit Union’ 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 Option Bank.
As a mutual bank, 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
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