Firstmac
Home Loan
Owner Occupied Fixed Principal & Interest 3 Years 90% LVR
6.24%
Interest rate
6.99%
Comparison rate
Ratings
★ ★ ★ ★ ★ (1 reviews)
About Home Loan
Key Features
- Generally speaking, offset accounts is more common with variable rate home loans than fixed loan options.
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.
Unlike in the US, there are no lenders in Australia that offer 20 or 30 year fixed rates for standard residential home loans. Firstmac Home Loan offers fixed loan terms between 1 - 5 years.
Fees & Costs
- Firstmac charge a discharge fee of $300, which covers the cost for removing the mortgage that has been registered on the title of your property.
- Firstmac may also charge you a fixed-rate break cost if you refinance out of Home Loan or sell your house before the fixed term ends. It can cost thousands of dollars, and the advantages of breaking the fixed loan won't always outweigh the disadvantages.
- Selling the property or refinance during the fixed rate term can trigger hefty fees for breaking a fixed rate contract, and fixed rate loans tend to have restrictions on making extra repayments. Before you lock your rate in, you need to be sure that a fixed rate home loan is suitable for your situation.
- There is upfront costs of $720 to apply for Home Loan, with no ongoing account keeping fees.
- There is upfront costs of $721 to apply for Home Loan, with no ongoing account keeping fees.
Borrowing Limits
- Firstmac Home Loan does not offer tier pricing for lower LVR. With Home Loan, you can borrow upto $90% LVR.
Eligibility
- Interest only repayment option is not available with Firstmac Home Loan for buying next home.
- Interest only repayment option is not available with Firstmac Home Loan for refinance.
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 Firstmac or a mortgage broker just to be sure. This information should be used as a guide only.
Other rate options for Home Loan
Refinance
Fixed · Principal & Interest
1 Year · 90% LVR
6.69%
Refinance
Fixed · Principal & Interest
2 Years · 90% LVR
6.49%
Refinance
Fixed · Principal & Interest
3 Years · 90% LVR
6.24%
Refinance
Fixed · Principal & Interest
4 Years · 90% LVR
6.39%
Refinance
Fixed · Principal & Interest
5 Years · 90% LVR
6.04%
Owner Occupied
Fixed · Principal & Interest
1 Year · 90% LVR
6.69%
Owner Occupied
Fixed · Principal & Interest
2 Years · 90% LVR
6.49%
Owner Occupied
Fixed · Principal & Interest
3 Years · 90% LVR
6.24%
Owner Occupied
Fixed · Principal & Interest
4 Years · 90% LVR
6.39%
Owner Occupied
Fixed · Principal & Interest
5 Years · 90% LVR
6.04%
Frequently Asked Questions
Are there costs when I exit or refinance to another lender?
Firstmac charge a discharge fee of $300, which covers the cost for removing the mortgage that has been registered on the title of your property. Firstmac may also charge you a fixed-rate break cost if you refinance out of Home Loan or sell your house before the fixed term ends. It can cost thousands of dollars, and the advantages of breaking the fixed loan won't always outweigh the disadvantages.
Does Firstmac Home Loan comes with an offset account?
No, Home Loan does not come with an offset account. Generally speaking, offset accounts is more common with variable rate home loans than fixed loan options.
What are the costs to apply for Firstmac Home Loan?
There is upfront costs of $720 to apply for Home Loan, with no ongoing account keeping fees. Valuation fee: $220
Settlement fee: $300
Legal fee: $200
What are the costs to apply for Firstmac Home Loan?
There is upfront costs of $721 to apply for Home Loan, with no ongoing account keeping fees. Valuation fee: $221
Settlement fee: $300
Legal fee: $200
Fees
- Application fee
Important Information
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 Firstmac or a mortgage broker just to be sure. This information should be used as a guide only.