The Finance Algorithm
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Flexi First Option Home Loan - Veterans

A low variable rate loan to support eligible 'Veterans' with purchasing, constructing or refinancing a home, for owner occupied purposed only.

Home loansBank updated 28 Oct 2026

At a glance

Variable (owner occ. P&I)
3.25%
Max LVR
95%
Features
redraw, extra repayments

Rates

The one rate Westpac publishes for this home loan.

TypeApplies toTermBandRateComparisonConditions
VariableWith Principal and Interest repayment.Owner occupied, P&I--3.25%--

Fees

5 fees published, grouped by when they're charged.

  1. When you take it outNo feeLending Establishment Fee
  2. While you hold itNo feeMonthly Loan Account Fee
  3. When you close it or pay it off$350Loan Discharge Fee

When you take it out1

  • Lending Establishment Fee
    No fee

While you hold it1

  • Monthly Loan Account Fee
    No fee

When particular things happen2

  • Account Overdrawn Fee
    $15
  • Document Processing Fee
    No fee

When you close it or pay it off1

  • Loan Discharge Fee
    $350

Features

RedrawExtra repaymentsGuarantor optionFraud protection
  • This loan can be used for purchase of an owner-occupied property, home construction (Contract Builders only), renovation / home improvements and debt consolidation
  • The product is priced at the lower of: DSH Benchmark Rate ? 1.50% or Capped rate 3.75% (introduced in May 2022)
  • Loan Payment Method - Direct Debit (preferred), Direct Credit, Branch Payment, Internet or Phone Banking, Smart ATM
  • Repayment frequencies includes weekly, fortnightly or monthly
  • Substituting a security: You may ask us to accept a new mortgage over other land as a substitute for any mortgage which is security for your loan. We may agree to this if you satisfy any reasonable r…
  • Statements of account: We will send you a statement of your loan account at least every six months or more frequently if you request
  • The product provides options which includes portability, redraw, repayment holiday, top-ups

Eligibility and limits

  • Amount up to $25,000
  • Maximum LVR 95%
  • Applicant must have served in the Defence Force either prior to May 1985 or allotted for service in Namibia between 1989 and 1990.
  • Applicant must be eligible as per Department of Veterans' Affairs and is confirmed by the issue of a Certificate of Entitlement or Certificate of Assignment
  • Maximum repayment term 25 years

Published by Westpac under the Consumer Data Right, last changed by them on 28 Oct 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.