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First Home Buyers 2 Year Fixed Rate
Take advantage of our 2 Year Fixed Rate Special Offer for First Home Buyers to get into your first home sooner.
By taking advantage of the Australian Government 5% Deposit Scheme for First Home Buyers offered by Australian Mutual Bank:
- You won’t need to pay lenders mortgage insurance, saving you up to $27,680.94*
- You only need to save a minimum deposit of 5% of the Property Value
- You can save thousands in interest by no longer needing to add the cost of mortgage insurance to your loan*
* Savings are estimated based on using an LMI premium calculator for a 95% LVR loan on a property valued at $800,000 and calculated on 1 October 2025.
Am I eligible?
To access the Scheme, you need to meet borrower eligibility criteria relating to your personal circumstances (making you an Eligible Home Buyer) including:
- Citizenship and permanent residency - be an Australian citizen(s) or permanent resident(s) at the Home Loan Date*.
- Deposit - you must have enough savings to contribute a minimum deposit of 5% of the Property Value
- Prior property ownership - you must be a first home buyer or not have owned a property in Australia in the last 10 years (applies to both in a joint application) at the Home Loan Date*
- Owner-occupier - you must buy or build a home to live in (investment properties are not eligible), and
- Minimum age – you must be at least 18 years old
* The Home Loan Date is the date you sign your home loan agreement with us.
There are also eligibility criteria relating to the property (making it an Eligible Property) and home loan (making it an Eligible Home Loan), including:
- the property must be residential, and its purchase price and Property Value must be at or below the location’s price cap, and
- the loan must be an owner-occupier home loan from a Participating Lender with Principal and Interest repayments and a term of up to 30 years (plus up to 3 years to build a new home, which may include Interest only payments).
You can find more information about the Australian Government 5% Deposit Scheme for First Home Buyers, as well as the eligibility criteria on the Housing Australia website.
How do I apply?
The application process is made simple and easy. Loan applications can be submitted online.
Once received we will assess your loan for suitability.
Once we have verified that you meet our lending requirements and the requirements set out by the Scheme, your loan will be approved.
View our range of competitive variable and fixed rate products
We waived the Valuation fee (up to $500) and the Establishment fee ($250) for First Home Buyers Loans.
"AMB helped us secure our first dream home in Perth, Western Australia."
Their outstanding customer service, care and guidance made the whole process of us securing our first home a smooth ride. What is even more commendable is that all of this was done from over the east with no problems. Importantly their low interest rates beats the competitors by a huge margin and we have no doubt in saying we will stay with AMB for all our banking and highly recommend them to everyone in Australia.
Nicole Smith
How to apply
Apply Online
Ready to apply or you simply want a conditional pre-approval? Get started online in under 10 minutes.
Phone
A home loan specialist will answer all your questions and help move your application along.
Mobile Banker
Our Mobile Bankers located in NSW can come to visit you at home, at work or wherever else is convenient for you.
