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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.
Athena will also reduce your interest rate automatically as you repay the loan and build equity (principal and interest repayments only), with the most competitive rate offered to borrowers with 60% LVR. You can see the different rates listed below.
| Product Name | Athena Variable Home Loan |
|---|---|
| Interest Rate Type | Variable |
| Comp Rate^ (p.a.) | |
| Minimum Loan Amount | $100,000 |
| Maximum Loan Amount | $2,000,000 |
| Minimum Loan Term | 5 years |
| Maximum Loan Term | 30 years |
| Maximum LVR | 80% |
| Maximum Insured LVR | 80% |
| Mortgage Offset Account | No |
| Mortgage 100% Offset | No |
| Loan Redraw Facility | Yes |
| Loan Portable | No |
| Suitable for Investment | Yes |
| Extra Repayment | Yes |
| Available as equity loan/line of credit | No |
| Repayment Type | Principal & Interest and Interest Only Options |
| Application Fee | $0 |
|---|---|
| Lender's Legal Fee | $0 |
| Valuation Fee | $0 |
| Ongoing Fees | $0 p.a. |
| Settlement Fee | $0 |
| Discharge Fee | $0 |
Pros
- Competitive interest rates
- Redraw facility
- No application or ongoing fees
Cons
- Not available for borrowers in some parts of regional Australia.
What do I need to know about this loan?
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.
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 do I apply for this loan?
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).
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?
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
Want to know want to refinance so l can consolidate all loans into1,
Can l do that.
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
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?
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