Make First
Federal your
first choice
First Federal interest rates and fees
Effective from 10 March 2024.
First Choice - full doc
| Security type | LVR | Max amount | P&I | I/O (3 yrs) |
|---|---|---|---|---|
| Owner occupied | <60% | $1,500,000 | 6.99% | 7.39% |
| <70% | $1,500,000 | 6.99% | 7.39% | |
| <80% | $1,500,000 | 7.29% | 7.69% | |
| <90%^ | $1,000,000 | 7.69% | 8.09% | |
| Investment | <60% | $1,500,000 | 7.19% | 7.59% |
| <70% | $1,500,000 | 7.19% | 7.59% | |
| <80% | $1,500,000 | 7.49% | 7.89% | |
| <90%^ | $1,000,000 | 7.89% | 8.29% | |
| Term | Up to 30 years | |||
| Application fee | $950 | |||
| Establishment fee | $0 | |||
| Legal fees | At cost | |||
| Valuation fees | From $880 | |||
| Risk fee | 0% | |||
| Monthly fees | Nil | |||
| Annual fees | $395 | |||
| Jumbo loading (loans $2M-$3M) | Not applicable | |||
^LMI – charged over 80% LVR
First Choice Plus - near prime
| Security type | LVR | Max amount | P&I | I/O (3 yrs) |
|---|---|---|---|---|
| Owner occupied | <50% | $2,000,000 | 7.24% | 7.54% |
| <60% | $2,000,000 | 7.49% | 7.79% | |
| <70% | $2,000,000 | 7.49% | 7.79% | |
| <80% | $2,000,000 | 7.79% | 8.09% | |
| Investment | <50% | $2,000,000 | 7.44% | 7.74% |
| <60% | $2,000,000 | 7.69% | 7.99% | |
| <70% | $2,000,000 | 7.69% | 7.99% | |
| <80% | $2,000,000 | 7.99% | 8.29% | |
| Term | Up to 30 years | |||
| Application fee | $950 | |||
| Establishment fee | $0 | |||
| Legal fees | At cost | |||
| Valuation fees | From $880 | |||
| Risk fee | 0.60% | |||
| Monthly fees | Nil | |||
| Annual fees | $0 | |||
| Jumbo loading (loans $2M-$3M) | Not applicable | |||
First Freedom - alt doc
| Security type | LVR | Max amount | P&I | I/O (3 yrs) |
|---|---|---|---|---|
| Owner occupied | <50% | $3,000,000 | 7.99% | 8.29% |
| <60% | $3,000,000 | 8.39% | 8.69% | |
| <70% | $3,000,000 | 8.69% | 8.99% | |
| <80% | $3,000,000 | 8.99% | 9.29% | |
| Investment | <50% | $3,000,000 | 8.34% | 8.64% |
| <60% | $3,000,000 | 8.69% | 8.99% | |
| <70% | $3,000,000 | 8.99% | 9.29% | |
| <80% | $3,000,000 | 9.29% | 9.59% | |
| Term | Up to 30 years | |||
| Application fee | $950 | |||
| Establishment fee | $0 | |||
| Legal fees | At cost | |||
| Valuation fees | From $880 | |||
| Risk fee | 0.85% | |||
| Monthly fees | Nil | |||
| Annual fees | Nil | |||
| Jumbo loading (loans $2M-$3M) | Application fee 1.1%, interest rate + 0.5% pa | |||
First Business - lo doc (coming soon)
| Security type | LVR | Max amount | Rates from |
|---|---|---|---|
| Residential property* | <60% | $3,000,000 | 8.64% |
| <70% | $3,000,000 | 8.99% | |
| Commercial property* | <50% | $3,000,000 | 10.24% |
| <65% | $3,000,000 | 11.24% | |
| Term | Up to 30 years | ||
| Application fee | Higher of $1,950 or 0.2% | ||
| Establishment fee | 1.1% | ||
| Legal fees | At cost | ||
| Valuation fees | From $880 | ||
| Risk fee | 1.1% | ||
| Monthly fees | 0.1% | ||
| Annual fees | Nil | ||
| Jumbo loading (loans $2M-$3M) | Not applicable | ||
*Residential property: house & townhouse max 70%, unit max 65%.
Commercial property: max 3 year term. Reduce LVR by 5% if not leased to third party.
First Federal broker commissions
Payable on new First Choice, First Choice Plus and First Freedom loans.
Up front broker commissions
New to organisation clients
0.65% of loan amount
Broker trail commissions
Paid once > $3m in active loans held
0.15% pa (paid monthly)
All amounts quoted include GST
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Note: this search does not include First Business loans. To confirm max LVRs on First Business, please submit a scenario or contact your BDM.
Results shown in this lookup do not guarantee lending capabilities.
Maximum loan amount may vary by product and LVR.
House results are for residential houses with < 4,000 m2 of land.
Unit results are for high density blocks with > 35 units.
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Why choose First Federal?
Flexible
policies
First Federal credit policies are far more flexible than the major banks. We understand real life, and accept a wider range of income types, with simpler income and expense verification solutions.
24 hour SLA for new applications
First Federal is fast and provides initial review of new applications within 24 hours of receipt.
Speak directly with the decision maker
First Federal gives brokers the opportunity to speak directly with expert Credit Managers to workshop applications. This means you can get the best outcome for your client, faster.