Basic Variable Home Loan

Get a loan that’s simple to use and easy to understand.

Just a great low rate that helps you pay your home off faster. Available for first home buyers on the Home Guarantee Scheme, and new loans $100,000+, borrowing less than 90% of the property value subject to loan approval and lenders mortgage insurance requirements3.

Unlimited additional repayments
No interest offset facility
Free redraws
No ongoing or establishment fees
Deposit eligible for parental guarantee

Home loan calculators

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)
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.

A home loan for every stage of life

Resources

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

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 60% 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 Loan applications are subject to our normal credit approval criteria and may also require approval of a Lenders Mortgage Insurer. Interest rates may vary based on your loan to property value ratio.