Athena Variable Home Loan Review, Rates & Fees | Finder
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Athena Home Loan Review

Richard Whitten
Richard Whitten
Last updated:  

Get a competitive mortgage offer from Athena, a high-tech mortgage fintech lender. Compare rates for home owners and investors.

The Athena Variable Home Loan is a competitive mortgage for customers looking to get a competitive rate via a convenient online service, whether as a new borrower or refinancer. It has rates for investors and home buyers.

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Expert review

Richard Whitten

Review by

Richard Whitten is a senior writer at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea.

Expert review

This loan has principal and interest repayments and rates for investors and owner occupiers. Previously only available for refinance, this loan is now available for new borrowers as well.

Athena mortgages are only available for borrowers living in capital or major regional cities.

About this loan

What are the features and benefits of the Athena Variable Home Loan?

  • Loan amount and purpose. The Athena Variable Home Loan has a minimum borrowing amount of just $100,000 and a maximum borrowing amount of $2,000,000.
  • Rate reductions. As you pay off your Athena home loan and build equity, Athena will automatically lower your interest rate (principal and interest repayments only). This is a feature few lenders offer.
  • Repayment flexibility. You can repay this loan monthly, weekly or fortnightly, and there is no limit on extra repayments.
  • Loan-to-value ratio. You can borrow up to 80% of your property's value.
  • Fees. There are no fees.

What fees and charges come with this loan?

Athena charges no fees.

  • Switching fee: $0. There is no switching fee.
  • Settlement fee: $0. There is no longer a settlement fee.

How to apply

If you'd like to apply for this product or just get more information, click the green button and follow the application process to speak to an Athena mortgage specialist.

Eligibility

To be eligible for an Athena home loan you will need:

  • To be an Australian citizen or permanent resident.
  • To have good credit history.
  • To be buying in a capital city or large regional city.

Documents

With any home loan application you will also need the following documents:

  • Identification documents. You will need identification such as a driver's license, passport or birth certificate.
  • Proof of income documents. Recent payslips can establish your income.
  • Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).

Home Loan Offers

Important Information*
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Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.

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Logo for St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)
St.George Basic Home Loan - LVR 60% to 80% (Owner Occupier, P&I)

Up to $4,000 refinance cashback With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get up to $4,000 cashback and borrow up to 80% of the property's value (terms, conditions & exclusions apply).

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Logo for Athena Liberate Home Loan - 70% to 80% LVR Owner Occupier, P&I
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A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.

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Logo for Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)
Suncorp Back to Basics Home Loan - Better Together Special Offer $150k+ LVR ≤ 80% (Owner Occupier, P&I)

Get a competitive variable interest rate with no application fee or ongoing fees.

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6 Comments

    Default Gravatar
    raul
    July 24, 2019

    Hi! I am living and working in NY, America. I am getting divorced. I will have a property in Sydney, valued at $1.200.000. This property is producing an income of $650 per week. I need to refinance it in order to settle my divorce as I am buying the 50% share that at present belongs to my wife.

    I need to loan $550,000. What is the best way to go about it?

    Reply
      Default Gravatar
      Nikki
      July 25, 2019

      Hi Raul,

      Thanks for getting in touch!

      You will need to refinance if you are buying out your spouse. It would be best to speak to a mortgage broker as they can give you specific advice on how to go about your plan.

      Hope this clarifies!

      Best,
      Nikki

      Reply
    Default Gravatar
    doris
    July 24, 2019

    Want to know want to refinance so l can consolidate all loans into1,

    Can l do that.

    Reply
      Default Gravatar
      Nikki
      July 24, 2019

      Hi Doris,

      Thanks for your questions and for your interest in Athena Home Loans. If you’re looking to refinance your home, you can apply for this product or just get more information, click the green GO TO SITE button and follow the application process to speak to an Athena mortgage specialist. However, if you are looking to consolidate your debts by refinancing your home loan, you can refer to this page. This page shows you what debts you can consolidate in this type of loan and what steps to take in proceeding with this type of loan.

      As a friendly reminder, carefully review the Product Disclosure Statement of the product before applying. You may also contact the insurance provider should you have any questions about their policy.

      Hope this helps!

      Best,
      Nikki

      Reply
    Default Gravatar
    Tony
    July 4, 2019

    Given the recent interest cuts x2 are these factored into rates available as of now or will they happen over following days/weeks?
    i.e. Will Rates be lower still? When is right time to refinance to take advantage of the cuts?

    Reply
      Avatarfinder Customer Care
      Jeni
      July 4, 2019

      Hi Tony,

      Thank you for getting in touch with Finder.

      Some lenders/banks held off on implementing the cut for a week or two. It’s possible that lenders may decide to keep their current mortgage rates in place. If you’re with Athena, Athena has passed on the latest 2 rate cuts, so you don’t need to wait to refinance. Also, if the rate changes (up or down) for new customers Athena will match it for existing customers.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

      Reply
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