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First Federal interest rates and fees

Effective from 10 April 2024. 

First Choice - full doc

Security typeLVRMax amountP&II/O (3 yrs)
Owner occupied<60%$1,000,0006.99%7.39%
<70%$1,000,0006.99%7.39%
<80%$1,000,0007.29%7.69%
<90%^$750,0007.69%8.09%
Investment<60%$1,000,0007.19%7.59%
<70%$1,000,0007.19%7.59%
<80%$1,000,0007.49%7.89%
<90%^$750,0007.89%8.29%
TermUp to 30 years
Application fee$950
Establishment fee$0
Legal feesAt cost
Valuation feesFrom $880
Risk fee0%
Ongoing fees$395
Jumbo loading (loans $2M-$3M)Not applicable

^LMI – charged over 80% LVR

First Choice Plus - full doc near prime

Security typeLVRMax amountP&II/O (3 yrs)
Owner occupied<50%$2,000,0007.24%7.54%
<60%$2,000,0007.49%7.79%
<70%$2,000,0007.49%7.79%
<80%$2,000,0007.79%8.09%
Investment<50%$2,000,0007.44%7.74%
<60%$2,000,0007.69%7.99%
<70%$2,000,0007.69%7.99%
<80%$2,000,0007.99%8.29%
TermUp to 30 years
Application fee$950
Establishment fee$0
Legal feesAt cost
Valuation feesFrom $880
Risk fee0.60%
Ongoing fees$0
Jumbo loading (loans $2M-$3M)Not applicable

First Freedom - alt doc

Security typeLVRMax amountP&II/O (3 yrs)
Owner occupied<50%$2,500,0007.99%8.29%
<60%$2,500,0008.39%8.69%
<70%$2,500,0008.69%8.99%
<80%$2,500,0008.99%9.29%
Investment<50%$2,500,0008.34%8.64%
<60%$2,500,0008.69%8.99%
<70%$2,500,0008.99%9.29%
<80%$2,500,0009.29%9.59%
TermUp to 30 years
Application fee$950
Establishment fee$0
Legal feesAt cost
Valuation feesFrom $880
Risk fee0.85%
Ongoing feesNil
Jumbo loading (loans $2M-$3M)0.50% interest rate buffer applied & 1.1% app fee

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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Postcode Search

Enter the postcode or suburb of the security to check our max LVR for that area. If the LVR result doesn’t fit your scenario, please contact our team as we still may be able to help. 

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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.

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.