Firstmac Home Loans

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Firstmac is a privately-owned, Australian company that operates as a non-bank lender and provides home loans, car loans and term deposits. Home loans from Firstmac are only available through mortgage brokers.

What home loans does Firstmac offer?

Firstmac offers fixed and variable rate home loans, construction loans and interest-only loans to home buyers and investors. If you wish to know more, Canstar has a guide to the different types of home loans available and how they work.

Below we’ve listed a snapshot of Firstmac’s owner-occupier home loan interest rates available at the time of writing, for loans with principal and interest repayments and loan-to-value ratios equal to 80%. Interest-only and investment home loans are also available.

Firstmac variable rate home loans for owner occupiers

Firstmac Basic Home Loan for new borrowers

  • Two-year introductory interest rate: 2.19%p.a. (comparison rate 2.58%) and reverts to 2.59% after two years (comparison rate 2.64%)
  • Fees: $220 valuation fee, $200 legal fee, $300 settlement fee
  • Features: Unlimited extra repayments without penalty, free online redraw

Firstmac Offset Home Loan for new borrowers

  • Two year introductory interest rate: 2.19%p.a. (comparison rate 2.58%) and reverts to 2.74% after two years (comparison rate 2.79%)
  • Fees: $220 valuation fee, $200 legal fee, $300 settlement fee
  • Features: Offset account, unlimited extra repayments without penalty, free online redraw

Firstmac ZIP Home Loan for new borrowers

  • Interest rate: 2.73%p.a. (comparison rate 2.78%)
  • Fees: $220 valuation fee, $200 legal fee, $300 settlement fee
  • Features: Unlimited extra repayments without penalty, free online redraw, $5,000 limit Visa debit card with 0% interest

Firstmac fixed rate home loans for owner occupiers

Firstmac Fixed Home Loan for new borrowers

  • 1 year interest rate: 2.44%p.a. (comparison rate 3.02%)
  • 2 years interest rate: 2.59%p.a. (comparison rate 3.00%)
  • 3 years interest rate: 2.74%p.a. (comparison rate 3.00%)
  • 4 years interest rate: 2.94%p.a. (comparison rate 3.04%)
  • 5 years interest rate: 3.13%p.a. (comparison rate 3.09%)
  • Fees: $220 valuation fee, $200 legal fee, $300 settlement fee
  • Features: Extra repayments up to $10,000 per year, split and fix a portion with any Firstmac variable loan

How do I apply for a Firstmac home loan?

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

If you decide to apply for a Firstmac home loan, you’ll need to contact your mortgage broker.

Can you make extra repayments on a Firstmac home loan?

Yes, Firstmac allows you to make extra repayments on its variable rate home loans, while an annual limit of $10,000 of additional repayments applies to its fixed loans. Terms and conditions may apply – contact the lender for further details.

Are redraw facilities offered on Firstmac home loans?

Yes, Firstmac offers redraw facilities with its variable rate home loans, but not fixed rate home loans. Fees and charges may apply; contact the lender for further details.

About Firstmac

Firstmac operates as a non-bank lender, meaning it’s not a traditional bank, building society or credit union and has its own source of wholesale funds. The company is privately and Australian owned, and has been in business for more than 40 years. It’s provided 130,000 home loans and currently manages $14 billion in mortgages and $300 million in cash investments.

This content was reviewed as part of our fact-checking process.

Written by: Sean Callery | Last updated: October 1, 2021