On becoming a member of our bank, you're not just a customer, you're an owner!
First Home Buyers 2 Year Fixed Rate
Find the property you love, and we'll make sure that you get a more generous home loan deal.
2 Year Fixed
4.99
%
p.a.
Interest rate
5.80
%
p.a.
Comparison rate
By taking advantage of the First Home Guarantee offered by Australian Mutual Bank:
- You won’t need to pay lenders mortgage insurance, saving you up to $30,352.19*
- 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.
Am I eligible?
The following eligibility criteria apply:
- Citizenship and permanent residency - be an Australian citizen(s) or permanent resident(s) at the Home Loan Date*.
- Income - your taxable income must be at or below the income cap - $125,000 per annum for individual, or a combined $200,000 per annum for joint applicants - as shown on the Notice of Assessment (for the previous financial year) issued by the Australian Taxation Office.
- Deposit - you must have minimum deposit savings 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 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*
- Minimum age – you must be at least 18 years old
- Price cap - the property you purchase must be residential and within the Price caps set under the scheme
You can find more information about the First Home Guarantee and eligibility criteria on the Housing Australia website.
* The Home Loan Date is the date you sign your home loan agreement with us.
How do I apply?
The application process is made simple and easy. Loan applications can be submitted online, and Scheme places are strictly limited.
Once received we will assess your loan for suitability and whilst doing so temporarily reserve a Scheme place for you for a period of 10 days.
Once we have verified that you meet our lending requirements and the requirements set out by the Scheme, your loan will be approved, and we will go about securing you a Scheme place for a further 90 days.
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.
| Product | Interest Rate | Comparison Rate |
| First Home Buyers Basic Variable Rate | Variable 5.69% p.a. | 5.73% p.a. |
| First Home Buyers Standard Variable Rate | Variable 5.94% p.a. | 5.98% p.a. |
| GumLeaf Basic Variable Rate Owner Occupied | 5.39% p.a. | 5.46% p.a. |
| GumLeaf Standard Variable Rate Owner Occupied | 5.49% p.a. | 5.56% p.a. |
| First Home Buyers 2 Year Fixed Rate | 2 Year Fixed 4.99% p.a. | 5.80% p.a. |
"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.
