Bank First First Rate Home Loan

Get a basic home loan package with flexible features.

The Bank First First Rate Home Loan is a basic home loan available only to owner-occupiers. It offers flexible repayments and a redraw account.

Interest Rate Max Insured LVR Max LVR
First Home Buyer LVR >80% to <90%
3.72% p.a.
Comparison Rate
3.73% p.a.
90% 80%
First Home Buyer LVR >90%
3.82% p.a.
Comparison Rate
3.83% p.a.
95% 80%
First Home Buyer LVR ≤ 80%
3.52% p.a.
Comparison Rate
3.53% p.a.
80% 80%
LVR <= 80%
3.52% p.a.
Comparison Rate
3.57% p.a.
80% 80%
LVR >80% to <90% (Owner Occupied)
3.72% p.a.
Comparison Rate
3.77% p.a.
90% 80%
LVR >90%
3.82% p.a.
Comparison Rate
3.87% p.a.
95% 80%
Product NameBank First First Rate Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Amount$1,000,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Loan PortableYes
Suitable for InvestmentNo
Extra RepaymentYes
Repayment TypePrincipal & Interest
Application Fee$600
Valuation Feeat cost
Ongoing Fees$0 p.a.
Settlement Feeat cost
Discharge Fee$350

Pros

  • No monthly or annual fees
  • Family guarantee option available
  • Flexible repayments

Cons

  • No offset account.
  • An application fee of $600 applies.

What do I need to know about this loan?

The Bank First First Rate Home Loan is geared towards first-time buyers. You can borrow up to 95% of the value of the property you're buying, and the loan offers a family guarantee option.

What are the feature and benefits of the Bank First First Rate Home Loan?

  • Loan amount. The Bank First First Rate Home Loan has a minimum borrowing amount of $150,000 and a maximum borrowing amount of $1,000,000. You can borrow up to 95% of the value of the property you're buying, but be aware that borrowing more than 80% will incur a lenders mortgage insurance (LMI) premium.
  • Family guarantee option. You can avoid paying LMI by having a family member serve as guarantor.
  • Repayment frequency. You can choose to repay your home loan weekly, fortnightly or monthly.
  • Redraw account. The Bank First First Rate Home Loan allows you to redraw up to $30,000 of any extra repayments you've made. Be aware, though, that there is a minimum redraw amount of $500.

What fees and charges come with this loan?

  • Establishment fee: $600. This fee covers the administrative costs involved with processing your application.
  • Discharge fee: $350. This fee is charged when you close your home loan account either by repaying or refinancing your home loan.

How do I apply for this loan?

If you believe the Bank First First Rate Home Loan is the product for you, click the link below. You'll be directed to Bank First's website where you'll be walked through the home loan application process.

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Bank First First Rate Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $600 / $0

  • Max LVR

    80%

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