Rates as at 28 Sep 2026
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This investment variable rate option from Firefighters Mutual Bank carries an interest rate of 8.74% (comparison rate 8.81%) with principal-and-interest repayments that reduce the loan balance over time. The variable rate can move if the lender changes its rates. Borrowing is available up to 95% of the property value, though deposits under 20% usually mean Lenders Mortgage Insurance applies. Membership is required, with eligibility limited to fire and emergency service personnel, volunteers and their families. Fee amounts are available on request.
This summary was generated from Firefighters Mutual Bank’s published product data for this specific rate option. Always confirm current rates with the lender.
Interest only loans have traditionally been tailored to investors so they can reduce their mortgage repayments and maximise their tax benefits and overall return on investment (ROI). However, getting home loan with interest only (IO) has its place and some lenders are willing to consider your application if you can provide valid reasons.
LVR is an acronym for Loan-To-Value Ratio. The LVR is the amount you are borrowing against the property value being used as security, represented as a percentage.
IMPORTANT:Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with Firefighters Mutual Bank or a mortgage broker just to be sure. This information should be used as a guide only.
Firefighters Mutual Bank charge a discharge fee of $210, which covers the cost for removing the mortgage that has been registered on the title of your property.
Firefighters Mutual Bank charge a discharge fee of $250, which covers the cost for removing the mortgage that has been registered on the title of your property.
No, Your Way Basic Home Loan does not come with an offset account. Generally speaking, variable home loans without offset accounts are often called basic or 'no-frills' loans, you get lower account-keeping fees and lower interest rate for your home loan. In some cases a basic home loan can actually be cost efficient than a 100% offset account.
No, Your Way Basic Home Loan does not come with an offset account. While it does not have the convenient that comes with an offset account, but $Your Way Basic Home Loan comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
There is upfront costs of $250 to apply for Your Way Basic Home Loan. Settlement fee: $250 Your Way Basic Home Loan also comes with ongoing account fees of $300 per year. Annual fee: $300 per year
Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with Firefighters Mutual Bank or a mortgage broker just to be sure. This information should be used as a guide only.