Home Loans

Explore our range of simple and flexible home loans. Whether you’re looking for an investment property, to save money by refinancing an existing property, or you’re in the market for your first family home, we’re the local bank helping Aussies all over the country achieve their Australian dream.

Award winning home loan for first home buyers

First Home Loan Deposit Scheme Variable Rate Product

We are committed to putting our customers first, offering great customer service and competitive interest rates across all of our bank home loan products.

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Interest Rates for First Home Loan Deposit Scheme Loans

Make an appointment with a MyState Bank lender to start your application

We’d love to help you get started on your application.

Loan applications are subject to MyState's credit approval criteria. Terms and Conditions, Fees and Charges apply, and are subject to change.

1 Interest rate available for new lending on owner-occupied, principal and interest loans less than or equal to 70% of property value. Other rates available for different loan terms.

2 Comparison rate based on $150,000 over 25 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Lending, credit criteria, terms/conditions, fees and charges apply and are subject to change.

3 Interest rate available on owner-occupied, principal and interest loans for eligible borrowers under the First Home Loan Deposit Scheme only. Other rates available for different loan terms.

4 Interest rate available for new lending on owner-occupied, principal and interest loans less than or equal to 60% of property value. Other rates available for different loan terms.

Benefits of MyState Bank Home Loans


* The refinance cash back offer (cash back) is available for refinances from other financial institutions and can be withdrawn at any time.
$2,000 cash back where the refinance amount is between $250,000 and $499,999.
$3,000 cash back where the refinance amount is $500,000 or more.
The refinance amount excludes cash out, top-ups and new loans. The loan to value ratio (LVR) must be equal to or less than 80%.
Eligible loan applications to be submitted between 04/10/2021 and 30/06/2022 (Offer Period) and settled by 30/09/2022. The Offer Period may be adjusted at any time.
Loan applicants must have an open MyState savings or transaction account (Account) prior to loan settlement. The Account must be opened in the same name/s as the loan applicant/s. The cash back will be paid into the Account within 2 weeks following settlement. Terms & conditions, fees & charges apply and are subject to change. Loan applications are subject to MyState's credit approval criteria. Please seek independent tax advice before acquiring the product.
The offer is only available once per customer / borrowing entity within the Offer Period. If a customer refinances more than one loan, they will only receive the cash back once. Where there is more than one borrower, only one cash back will be paid and all borrowers are considered to have received a cash back. If any of the borrowers have received the cash back in the Offer Period, no further cash backs will be payable on any future refinance where that individual/borrowing entity is a borrower.

A home loan for every stage of life

Frequently Asked Questions

What will I need when applying for a home loan?

You need to be

  • At least 18 years old
  • An Australian citizen or permanent resident
  • Applying in your own name
  • Have a good credit rating

You will need to have

  • Two forms of ID (driver's licence, Australian passport or Medicare card)
  • Two payslips (if you have an employer)
  • Your most recent tax assessment (if you are self-employed)

A little bit of time

  • About 20 minutes
How can I improve my chances of the loan being approved?

You can give yourself the best chance possible by:

  • Work out your borrowing capacity, what repayments can you afford? We will use a range of criteria to decide how much you are eligible to borrow, but you need to be comfortable that you can afford to repay the loan.
  • Establish a good banking history, keep your accounts in good order.
  • Keep your credit rating in good standing by staying on top of payments to avoid arrears, debts or missed payments.
  • Save money, demonstrating your ability to save regularly shows a history of managing money responsibly.
How do I apply for a home loan?

You can make an appointment or call us on 138 001.

Is it hard to qualify for a home loan?

Applying for a home loan online at MyState Bank is quick and easy. You can complete an online application, choose to make an appointment with a MyState Bank representative or call us on 138 001 to discuss your options in further detail.

To be eligible for any of our home loan products, you will need to be at least 18 years old and an Australian citizen or a permanent resident in Australia. You will also need to be applying for a bank home loan in your own name or jointly and have a good credit rating.

Our online application process will take you approximately 20 minutes to complete and you will be asked to provide two forms of identification (e.g., your driver’s licence, passport or your Medicare card). If you currently have an employer, then we will ask you to provide two recent payslips. For self-employed applicants, you will be asked to provide your most recent tax assessment.

What does MyState look at when applying for home loans?

You can increase the chances of an approval for your home loan application by first discovering what your borrowing capacity for a mortgage is and what kind of property you are interested in purchasing. For example, are you seeking investment home loans for an investment property? If you intend to occupy the home that you’re going to buy, then you may qualify for the first home loan deposit scheme as well as other concessions depending on which state your intended property is located within.

Another great way of helping us to see how comfortable your repayments will be is to include a solid savings history and details of regular contributions to a dedicated savings account. If you are re-financing an existing loan showing you have a good repayment history is an excellent start. Credit providers like MyState use a range of lending criteria to determine the best bank home loans for our customers and deciding ahead of time what you can comfortably afford to repay will help you to secure the right kind of bank home loan for you. To find out what your borrowing capacity is, use our online loan calculator. We also offer customers a savings calculator to help show you how your savings can grow.

If you are purchasing a property the deposit amount will be a big consideration toward the success of your application. Bank home loans financing more than 80% of a property’s value will need Lender’s Mortgage Insurance (LMI) which is an additional cost on top of the total value of your loan. You stand the highest chance of success with your bank home loan application by demonstrating a strong deposit amount (or you have the flexibility to apply with a parental guarantee covering your deposit amount), strong savings history and a strong annual income.

When do you apply for a home loan?

Use our selection of handy online tools and calculators to help you understand what your borrowing power is and when is the right time to apply for a new bank home loan.

For existing home loan customers, compare your current home loan online with what we can offer and chat with our customer service team on 138 001 to find out how MyState Bank can help you save money on your mortgage and support your financial goals with our everyday transaction and offset accounts.

What happens after you apply for a home loan?

We keep you in the loop every step of the way. The pre-approval stage is subject to verification of the documents you have submitted and once complete, we’ll order a valuation to verify the value of your preferred property. Lender’s Mortgage Insurance (LMI) may apply for home loans with a loan amount of >80% of the property’s value but we’ll let you know if it’s required before we offer you unconditional approval. Receiving notification of unconditional approval means that we will definitely finance your home loan. The final stage of the application process is settlement when the transfer of your home loan funds is completed.

Apply online today for any of our bank home loans or contact our customer care team to discuss your lending options and what you believe will work best for your current financial circumstances. Trust the bank with over 50 years of community banking to put you first. Trust MyState Bank to look after you and your new or existing home loan.


Credit Guide

Privacy Policy

Fees & Charges for Household Lending

Interest Rates for Household Lending

Lenders Mortgage Insurance (LMI) Customer Fact Sheet

ABA LMI Guiding Principles


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