Standard Variable Home Loan
Firstmac’s Standard Variable Home Loan is a fully featured mortgage with a variable rate, offering flexibility to suit your needs. Borrow up to $2,000,000 (up to 90% LVR), choose principal and interest or interest‑only repayments, and reduce interest with an optional offset sub-account.
- From (owner occupied)
- 6.54%
- 6.6% comparison
Interest Rates
Owner occupied — Principal & interest
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable | 6.54% | 6.6% | Loan-to-Value Ratio (LVR) |
| Variable | 6.64% | 6.7% | Loan-to-Value Ratio (LVR) |
| Variable | 7.04% | 7.1% | Loan-to-Value Ratio (LVR) |
Owner occupied — Interest only
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable | 6.99% | 6.85% | Loan-to-Value Ratio (LVR) |
| Variable | 7.09% | 6.89% |
Fees
| Fee | Type | Amount |
|---|---|---|
| Application Fee No application fee is charged when setting up the loan. | Upfront | $0.00 |
| Valuation Fee A variable fee charged at cost to assess the value of the property used as security for the loan, starting from a minimum amount. | Event | From $221.00 |
| Documentation Fee A fee charged for preparing and processing the loan documentation required for settlement. | Event | $300.00 |
| Discharge Administration Fee A fee applied when releasing our mortgage to cover administrative processing of the discharge request. Waived if loan runs to term. | Exit | $300.00 |
| Settlement Fee A one-time fee charged at the time of loan settlement to cover processing and completion of the mortgage and funding of the loan. | Event | $300.00 |
| Discharge Documentation Fee A fee charged for preparing the necessary documentation when the loan is fully repaid and discharged. Waived if loan runs to term. | Exit | $250.00 |
Features
- Extra repayments
- Allows borrowers to make additional repayments on the loan to reduce interest and pay off the loan faster.
- Redraw facility
- Enables access to any extra repayments made, allowing funds to be withdrawn if needed.
- Offset account
- An optional linked sub-account where the balance offsets the loan principal, reducing the interest charged.
Eligibility
- Residency status — Are Australian or New Zealand citizens living and working in either Australia or New Zealand, or are Permanent Residents of Australia living and working in Australia.
- Minimum age — 18 yearsApplicants must be at least 18 years old to apply for this loan.
Constraints
- Minimum limit — $50,000.00The minimum application amount that can be borrowed is $50,000.
- Maximum limit — $2,000,000.00The maximum application amount available under this product is $2,000,000.
- The loan term must be at least 15 years. — P15Y
- The loan term cannot exceed 30 years. — P30Y
Published by Firstmac under the Consumer Data Right · Last updated 1 July 2026 · Product ID fmc-standard-variable