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.
Check your eligibility for government support
Interest Rates for First Home Loan Deposit Scheme Loans
Basic Variable Home Loan
Interest rates3 from 2.99%p.a.
Comparison rates2 from 3.02%p.a.
2 Year Fixed Home Loan
Interest rates3 from 5.09%p.a.
Comparison rates2 from 5.13%p.a.
3 Year Fixed Home Loan
Interest rates3 from 5.69%p.a.
Comparison rates2 from 5.30%p.a.
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
Amazing low rates
Save money with our low rates.
Have a choice in how you pay.
Enjoy up to $3,000 cashback when you refinance your home loan to MyState Bank!
Refinance your home or investment property loan through MyState Bank by 30 June 2022 and receive a bonus of up to $3,000!* Now is a great time to refinance your property loan. What are you waiting for?
The following conditions apply:
Only available for refinances from other financial institutions. Loan applicants must have an open MyState savings or transaction account prior to loan settlement. Loan to Valuation Ratio equal to or less than 80%. Minimum refinance amount $250,000. Settled by 30/09/2022. Full terms & conditions below.*
* 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
Buying My First Home
Start out with an award-winning home loan from MyState Bank. Our team can provide expert home loan advice, support and tools to make the process of purchasing your first home easier.Learn more
Buying My Next Home
If you’re looking to buy a new home, save time and money with MyState Bank’s local home loan team who can offer expert home loan advice, competitive home loan interest rates and a range of flexible home loan options to suit your needs.Learn more
Invest In Property
If you’re interested in building wealth through property investment, it pays to do your research. MyState Bank’s local home loan experts can tailor a flexible home loan option and offer competitive home loan interest rates to suit your investment requirements.Learn more
Refinancing my existing home
Life is constantly changing and your home loan needs the flexibility to suit your lifestyle. If you want a better deal on your home loan, MyState Bank’s home loan experts can tailor a loan with competitive home loan interest rates and features to suit your changing needs.Learn more
Build my new home
Make sure you calculate the total cost of building your home, including legal fees, costs of the land, land evaluation fees, rates and taxes, stamp duty, site works and moving expenses.Learn more
Frequently Asked Questions
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
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.
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.
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.
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.
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.