At a glance
- Variable (owner occ. P&I)
- 6.14%6.49% comparison
- Variable (investor P&I)
- 6.39%
- Max LVR
- 95%
- Annual fee
- $375
- Features
- offset, redraw, extra repayments
How it compares
This home loan in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.
| Rate | This home loan | Best anywhere | Typical institution | Where it sits |
|---|---|---|---|---|
| Variable home loanOwner occupier, principal & interest, 80% LVR | 6.24% | 5.93%SCCU's BROKER HOME LOAN | 6.38%of 104 institutions | 24th lowest of 104, level with 7 others |
| Investor variable home loanInvestment, principal & interest, 80% LVR | 6.49% | 5.94%AAA Financial Corporation's Portfolio Loan | 6.59%of 104 institutions | 25th lowest of 104, level with 15 others |
Rates
Every rate First Option Bank publishes for this home loan, 12 in all.
Variable rate by LVR
Owner occupier, principal and interest, the lowest rate published for each band of the loan's share of the property's value
- ≤60%6.14%
- 60–70%6.19%
- 70–95%6.24%
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| Variable | Investment, Interest only | - | ≤60% LVR | 6.59% | 6.96% | - |
| Variable | Investment, Interest only | - | 60–70% LVR | 6.64% | 7.01% | - |
| Variable | Investment, Interest only | - | 70–95% LVR | 6.69% | 7.06% | - |
| Variable | Investment, P&I | - | ≤60% LVR | 6.39% | 6.76% | - |
| Variable | Investment, P&I | - | 60–70% LVR | 6.44% | 6.81% | - |
| Variable | Investment, P&I | - | 70–95% LVR | 6.49% | 6.86% | - |
| Variable | Owner occupied, Interest only | - | ≤60% LVR | 6.34% | 6.69% | - |
| Variable | Owner occupied, Interest only | - | 60–70% LVR | 6.39% | 6.74% | - |
| Variable | Owner occupied, Interest only | - | 70–95% LVR | 6.44% | 6.78% | - |
| Variable | Owner occupied, P&I | - | ≤60% LVR | 6.14% | 6.49% | - |
| Variable | Owner occupied, P&I | - | 60–70% LVR | 6.19% | 6.54% | - |
| Variable | Owner occupied, P&I | - | 70–95% LVR | 6.24% | 6.59% | - |
Fees
14 fees published, grouped by when they're charged.
- When you take it outUp to $6003 fees, each listed below
- While you hold it$375 a yearPACKAGE_HOME_LOAN_ANNUAL_FEE
- When you close it or pay it offNo fee published
When you take it out3
- BRIDGINGLOAN
Administration fee to cover the cost of setting-up a bridging loan when buying and selling a property
$250 - CONSTRUCTIONLOAN
Construction loan fee which includes up to five progress payments to suppliers, additional construction loan progress payment fees $50 per payment
$600 - INVLOAN_ADMIN_FEE
Plus Costs
$400
While you hold it1
- PACKAGE_HOME_LOAN_ANNUAL_FEE$375 a year
When you make a transaction7
- GOVERNMENTFEESCHARGES
Stamp Duties and other government costs depend on value of the property and state
No fee - LEGALFEES
First Option covers the first $1000 of Valuation and Legal Fees, other external costs are on-charged at-cost.
No fee - MORTGAGEDISCHARGE
Calculated at time of Discharge, up to a maximum of $600
$175 - MORTGAGEDISCHARGE
Calculated at time of Discharge, up to a maximum of $600
$175 - SECURITYGUARANTEE$250
- SECURITYSUBSTITUTION$250
- TITLEPRODUCTION$150
When particular things happen3
- CONTRACTVARIATION$150
- LOANADMIN$250
- LOANCONSENT$400
Features
Eligibility and limits
- Minimum age 18
- Residency: Australian Residents
- Available to individuals
- Amount from $5,000, no maximum
Compare it with others
Put this product through a calculator
Published by First Option Bank under the Consumer Data Right, last changed by them on 14 Sept 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.