Special Offer - 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 1.89 % pa Interest rate 2.54 % pa Comparison rate

By taking advantage of the New Home Guarantee:

  • You won’t need to pay lenders mortgage insurance, saving you up to $32,800*
  • 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 $950,000

calculator and home

Checklist

Am I eligible?

The following eligibility criteria apply:

  • A taxable income of up to $125,000 per year for singles or $200,000 combined for couples
  • You must be first home buyers who have not previously owned, or had an interest in, a property in Australia
  • You must be an owner occupier of the property you are purchasing
  • The property you purchase must be within the Price caps set under the scheme
  • Australian citizens who are at least 18 years of age. Permanent residents are not eligible

For a comprehensive list of eligibility criteria, please read the New Home Guarantee Fact Sheet.


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.

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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 2.54% pa 2.57% pa
First Home Buyers Standard Variable Rate Variable 2.64% pa 2.67% pa
1 Year Fixed Rate 2.09% pa 2.65% pa
First Home Buyers 2 Year Fixed Rate (Special Offer) 2 Year Fixed 1.89% pa 2.54% pa
5 Year Fixed Rate 2.64% pa 2.70% pa

"I would recommend Australian Mutual Bank to anyone who is looking for a professional institution to look after their finances, and that are after great customer service."

 

Ben and Samantha Green


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?

Leave your details below and one of our consultants will be in touch.

 

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Why choose Australian Mutual Bank?

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 example 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 At the end of the fixed period the rate reverts to the Owner Occupied Standard Variable rate.

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.