Athena Home Loans

Athena home loans

Athena is a fintech startup that says it aims to bypass the banks and access new methods of funding.

What home loans does Athena offer?

At the time of writing, Athena offers variable principal and interest and interest only (up to five years) home loans for owner occupiers and investors.

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Athena home loan features

Athena says all of its home loans offer the following features:

  • Borrow up to 80% of your property’s value
  • Minimum loan size of $100,000 and maximum loan size of $2,000,000
  • No application fees, monthly fees, annual fees or exit fees
  • Repayments can be made weekly, fortnightly or monthly
  • Fee-free extra repayments and lump sum repayments
  • Ability to choose and change your repayments
  • Fee-free early payout or refinance
  • Fee-free redraw facility
  • ‘Automatic rate match’ whereby Athena says existing customers will be offered the same rates as new customers on like-for-like loans

With Athena’s ‘AcceleRates’ products, customers can have their home loan interest rate lowered as they pay off more of their home loan. Athena currently offers three rates for customers with a home loan LVR of 70%-80%, 60%-70% and less than 60%. Check Canstar’s comparison tables for current rates on Athena home loans.

The inclusions above represent a selection of Athena home loan features. Canstar is not making any suggestion or recommendation to you about this product. Additional conditions may apply to different features. Please see our comparison tables for more detailed information about products on offer from this provider. Check upfront with Athena and please ensure that you read the PDS or other loan documentation to determine all the current loan terms and conditions for the product you are considering and whether it meets your needs, before committing to it.

Athena home loans FAQs

Before getting started, you might first like to take a look at our applying for a home loan checklist for some pointers, and use the Canstar website to compare home loans with other providers before choosing a product that suits your needs.

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Athena allows fee free extra repayments on all of its home loan products. Terms and conditions may apply so contact Athena for details.

To give you an idea of how much money you could save over the life of your loan by making extra repayments, you might like to try our Extra Repayments Calculator.

Home Loans Extra Repayments Calculator

Athena offers a redraw facility on all of its home loan products. It says this is fee free both going in and coming out. Athena also offers online access, a redraw ‘thaw’ so you can freeze your funds for an agreed amount of time, and default daily limits for transfers out ($5,000/day) which can be changed. Terms and conditions may apply. Contact Athena for details.

If you’re in the market for a home loan, you can compare your options with Canstar.

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Athena is an online, home loan-only fintech. Launched in February 2019, Athena says it received $250 million in home loan applications within the first few days. Athena was founded by two ex-NAB executives but it says it’s not a bank and does not act like a bank. The startup’s investment backers include Macquarie Bank, Hostplus, Square Peg, Rice Warner, Apex Capital, RESIMAC Group and AirTree Ventures. Athena describes itself as a “home loan wrecker” and says it aims to cut time and money off the life of every home loan.

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Written by: Tamika Seeto | Last updated: September 30, 2020