First Option Bank Home Loans

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First Option Bank is a provider of home loans, car & personal loans, savings accounts, investments, superannuation, insurance and more.

Loan Options: What First Option Bank home loans offer

Here’s a snapshot of First Option Bank‘s variable home loans currently on offer for a loan amount of $600,000 in NSW. Please note that this table is formulated based on paying both principal and interest and results are sorted by our star rating (highest to lowest). To compare other home loans, please click here.

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The inclusions below represent a selection of the features available with a standard variable rate home loan for an owner occupier. 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. Please ensure that you read the product disclosure statement (PDS) to determine all the current loan terms and conditions for the product you are considering.

Variable home loan features

Offset account available on selected loan products
Redraw facility available
Additional repayments allowed
No fee for early repayment

Repayments may be made weekly, fortnightly, or monthly

What types of home loans does First Option Bank offer?

At the time of writing First Option Bank offers the following types of home loans:

Find out about how different types of home loans work here.

See our comparison tables for details of First Option Bank home loans:

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How to apply for a First Option Bank home loan

Applying for a First Option Bank home loan is a simple process; just compare home loans on the Canstar website and apply online on the First Option Credit Union website for the loan of your choice. For more help to apply, you can speak to a First Option Bank consultant by calling 1300 855 675.

Follow our applying for a home loan checklist, and use the Canstar website to compare First Option Bank home loans with other home loans before choosing a product that suits your needs:

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First Option Bank FAQs

Yes, First Option Bank allows extra repayments on their variable interest home loans without a penalty. Terms and conditions apply; contact your lender for details.

Find out how making extra repayments could save money in interest over the life of your loan in this article or use our Extra Repayments Calculator for yourself:

Home Loans Extra Repayments Calculator - Canstar

Yes, First Option Bank’s variable rate home loans offer a redraw facility. The minimum redraw amount is $200, fees and charges may apply to use of a redraw facility; contact your lender for details or learn more about redraw facilities here.

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

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First Option Bank has over 50 years of experience, having started in 1965. It rebranded as First Option Credit Union in 2005 when TAB Credit Union merged with Flying Horse Credit Union.

First Option is first and foremost a member-owned financial institution, so its profits are invested back into the business in order to better benefit its customers and employees rather than shareholders.

As well as helping its members with their finances, First Option is also active in helping the wider community. First Option sponsors a wide range of initiatives, such as the TAB cricket competition.

First Option is also a member of CUFA (the Credit Union Foundation Australia), which supports Australian credit unions to promote sustainable corporate, economic, social, and environmental practices.

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