First Home Guarantee (FHBG)

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.

Family Support Option⁴
Redraw facility
Valuation fee waived (up to $500)
Establishment fee waived ($250)

What would my repayments be?

View other Home Loan options

2 Year Fixed 5.49 % p.a. Interest rate 6.29 % p.a. Comparison rate

By taking advantage of the First Home Guarantee (FHBG) offered by Australian Mutual Bank:

You won’t need to pay lenders mortgage insurance, saving you up to $30,352.19^*
You only need as little as 5% deposit
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:

Australian citizens or permanent residents who are at least 18 years of age.
Individual applicants with a taxable income of up to $125,000 per annum, and joint applicants with a taxable income of $200,000 per annum, as shown on the Notice of Assessment issued by the Australian Taxation Office.
You must be first home buyers who have not previously owned, or had an interest in, a property in Australia (this includes owning land only), in the last 10 years
You must be an owner-occupier of the property you are purchasing. Investment properties are not supported by the First Home Guarantee
The property you purchase must be within the Price caps set under the scheme

You can find more information about the FHBG and 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 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 6.19% p.a.	6.23% p.a.
First Home Buyers Standard Variable Rate	Variable 6.44% p.a.	6.48% p.a.
GumLeaf Basic Variable Rate Owner Occupied	5.89% p.a.	5.96% p.a.
GumLeaf Standard Variable Rate Owner Occupied	5.99% p.a.	6.06% p.a.
First Home Buyers 2 Year Fixed Rate	2 Year Fixed 5.49% p.a.	6.29% 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.

Not ready to apply but simply wish to make an enquiry?

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Why choose Australian Mutual Bank?

100% Customer owned

On becoming a member of our bank, you're not just a customer, you're an owner!
Ethical banking

The benefit of our members, society, and the planet drives everything we do
Friendly service

Our number one goal is to give you the best overall banking experience we can
Safe and secure

Eligible deposits are protected by the Financial Claims Scheme

Important information

Footnotes:

¹ First Home Buyers 2 Year Fixed Rate Special Offer is applicable to loan applications received on or after 16 November 2020 and is subject to change without notice. New money only with a minimum borrowing amount of $100,000. Offer available for a limited time only and may be withdrawn once portfolio is met. At the end of the fixed period the rate reverts to the Owner Occupied Standard Variable rate.
² This comparison rate is based on a $150,000 loan over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. All loan applications are subject to Australian Mutual Bank Ltd normal lending criteria. Fees and charges, terms and conditions apply.
³ Home loan information and interest rates are for new money loans only and are subject to change. Loan to Value Ratio (LVR) is the ratio or money you borrow compared to the value of the property used as security, as determined by the Bank. LVR value is determined at time of origination only.

4. Family Support is available for borrowers, especially first home buyers with no deposit, who have an immediate family member that is willing and able to offer security, e.g. their own property, as Guarantor on the loan to secure a portion of the loan. The Guarantor's financial position should be such that they are able to meet their obligations under the guarantee. Non-Resident guarantors are not eligible.