HOME LOANS
First ChoiceHome Loan
Our no-frills home loan for purchases and refinancing. Perfect for PAYG or self-employed borrowers with strong credit and a straightforward application.
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A good fit for
First home buyers
Taking the first step into the property market with strong income evidence and clean credit.
Refinancers
Looking to save on repayments or access equity for other goals.
Investors
Renovating or refinancing a property portfolio with simple, low-risk applications.
Features & benefits
- Borrow up to $1,000,000
- Up to 80% LVR
- Consolidate debt
- Cash out available
- No risk fees
- Internet transaction functionality
- Redraw available
- Principal & interest or interest-only
Loan details
Loan purpose
Owner-occupied purchase, investment purchase, refinance
Loan term
Up to 30 years
Loan amount
$100,000 – $1,000,000
Maximum LVR
80%
Interest rate type
Variable interest rate
Payment type
Principal and Interest
Payment frequency
Monthly, fortnightly or weekly
Security
Registered 1st mortgage over residential property (exclusions apply)
Security locations
Capital cities
Extra payments
Permitted (with no penalty)
Redraw available
Available (minimum redraw $50,000)
Broker commissions
Up front (for new to organisation clients) – 0.65% of loan amount
Trail ( paid once > $3m in active loans held) – 0.15% pa (paid monthly)
Loan fees
Application fee
$950
Risk fee
0.65%
Valuation fee
At cost
Ongoing fees
$395 per annum
Discharge fee
$880
All First Choice, First Choice Plus, First Freedom, First Business 30, First Business 3 and First Business Jumbo rates are correct as of March 2025 and are subject to change at any time.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. All Comparison Rates are calculated based on a secured loan of $250,000 over a 25 year term.
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How brokers win with First Federal
Real examples of how we’ve helped brokers move loans from scenario to settlement.
