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 First Home Loan Deposit Scheme, and new loans $100,000+, borrowing less than 90% of the property value subject to loan approval and lenders mortgage insurance requirements3. You’ll enjoy flexible repayment options – weekly, fortnightly or monthly - plus your deposit is eligible for Parental Guarantee.
Award winning home loan for first home buyers
First Home Loan Deposit Scheme Variable Rate Product
First Home Loan Deposit Scheme eligible
Interest rates from 2.79%p.a.1
Comparison rates from 2.82%p.a.2
No establishment fee for owner occupied loans and no ongoing monthly fees
Fee free online redraws with no minimum amount rules
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.
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* The refinance cash back offer (cash back) is available for refinances from other financial institutions and can be withdrawn at any time.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.