Firstmac VIP Package Variable Home Loan

The Firstmac VIP Package offers discounted rates, free financial plans, discounts on insurance premiums and rewards for referring a friend.

Whether you are a first-time buyer or a savvy investor, you might want to consider the features available with the Firstmac VIP Package. This package nets you discounts on your rates and other Firstmac products, and is a loan with a large range of features. In return for these benefits Firstmac charges an annual fee.

Things to consider about the Firstmac VIP Package Variable Home Loan

Interest Rate Max Insured LVR Max LVR
LVR <=80% (Investor, IO)
4.93% p.a.
Comparison Rate
4.96% p.a.
90% 80%
LVR ≤ 80% (Investor, P&I)
4.63% p.a.
Comparison Rate
4.66% p.a.
80% 80%
LVR ≤ 80% (Owner Occupier + I/O)
4.43% p.a.
Comparison Rate
4.46% p.a.
80% 80%
LVR ≤ 80% (Owner Occupier + P&I)
4.08% p.a.
Comparison Rate
4.11% p.a.
80% 80%
LVR ≤ 90% (Investor+ P&I only)
4.73% p.a.
Comparison Rate
4.76% p.a.
90% 80%
LVR ≤ 90% (Owner Occupier+ P&I only)
4.18% p.a.
Comparison Rate
4.21% p.a.
90% 80%
Product NameFirstmac VIP Package Variable
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Maximum Loan Amount$2,000,000
Minimum Loan Term15 years
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Lender's Legal Fee$200
Valuation Fee$220
Ongoing Fees$0 p.a.
Settlement Fee$300
Discharge Fee$300


  • No application and legal fee.
  • Redraw Facility.
  • Extra repayments are available.


  • A $0annual fee applies.
  • $300 settlement fee.
  • $220 valuation fee.

This variable loan could be a good option for individuals or businesses that want to take advantage of market fluctuations to benefit from lower interest payments. The VIP Package Variable has a maximum repayment period of 30 years, or 10 if you select interest-only repayments. It has a minimum repayment period of 15 years, so you can apply for a term that is most convenient.

Features of the Firstmac VIP Package Variable Home Loan

  • Discounted rate. With this package home loan, you’ll get a discount off the Firstmac standard variable rate. This discount can be applied to an unlimited number of loans.
  • Discounts and bonus rates on other Firstmac products. Not only do you get a discount on your home loan, you can also get a 10% discount on home and contents insurance with Firstmac, a 0.10% bonus on any Firstmac Term Deposit accounts opened, a $150 discount on Firstmac Lifestyle Protection Insurance premiums, and finally a free financial plan worth $750.
  • Get cash for referring your friends. If you refer a friend to Firstmac, they’ll reward you with $750 cash.
  • Maximum loan amount. You can borrow up to 80% of your property value with this loan, and up to $2,000,000, meaning this loan can be used for more expensive properties and with a smaller deposit than the usual 20%.
  • Flexible payment frequency. It’s up to you to decide whether you want to pay weekly, fortnightly, or monthly. Choose a frequency that would be easiest for you.
  • Additional repayments without penalty. Firstmac does not charge a penalty if you choose to make a lump sum repayment or extra repayments over the course of your loan. This can save you thousands of dollars in interest.
  • Free redraw facility. Have the confidence to make additional repayments knowing that there is a redraw facility which allows you to make unlimited withdrawals whenever there's an unexpected expense or emergency, or if you just want to use your additional funds for something else.
  • 100% Offset account. An offset account can help you save money on interest while also encouraging you to build up your savings. An offset account acts as a linked account which you can deposit and withdraw money from like a transaction account. The difference is any amounts in the offset account offset the interest payable on your loan. An offset account with $10,000 in it on a home loan of $300,000 would mean you pay interest on only $290,000.


Fees you can avoid

  • Application Fee. This loan doesn’t charge an application fee, but note that it does charge an annual fee.
  • Legal Fees. Firstmac do not charge legal fees for this loan.

Fees you can’t avoid

  • Valuation Charge. $220 or at cost. This fee covers the cost of Firstmac having an independent valuation on your property.
  • Settlement Fee. $300. This covers the cost of Firstmac arranging your loan funds.
  • Ongoing Yearly Fee. $0. This package loan has an annual fee.

Calculate your repayments by filling in some of your details

How to apply for the Firstmac Home Loan

If you want to apply for a Firstmac home loan, it is important to know the documentations they need to process your application. Firstmac essentially requires the same type of information as other lenders in Australia. Some of the paperwork you need to present includes proof of identity, proof of income, information regarding your assets and liabilities, and details of the property you want to buy.

  • Identification.
  • Ability to make repayments.
  • Details of your assets and liabilities.
  • Property information.

Consider comparing the Firstmac VIP Package if you want a home loan that will be beneficial over the long term.

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Firstmac VIP Package Variable

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR


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