FIRST OPTION BANK
SIMPLE HOME LOAN
FIRST OPTION BANK · residential mortgages
Provider last updated this product 2026-09-14.
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You'll complete your application on
FIRST OPTION BANK's website. Confirm the rate and fees with them
before applying.
SIMPLE HOME LOAN
As published by the lender
- Headline rates - from 5.99% to 6.64%The lender publishes several headline rates; which one applies is the lender's decision.
Lending rates
| Type | Rate | Comparison^ | Purpose | Repayment | Fixed term | Applies to | Interest |
|---|---|---|---|---|---|---|---|
| VARIABLE | 5.99% | 5.99% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | LVR up to 60% | calculated daily, paid monthly |
| VARIABLE | 6.09% | 6.09% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | LVR 60% - 70% | calculated daily, paid monthly |
| VARIABLE | 6.19% | 6.19% | OWNER OCCUPIED | PRINCIPAL AND INTEREST | - | LVR 70% - 95% | calculated daily, paid monthly |
| VARIABLE | 6.19% | 6.19% | OWNER OCCUPIED | INTEREST ONLY | - | LVR up to 60% | calculated daily, paid daily |
| VARIABLE | 6.29% | 6.29% | OWNER OCCUPIED | INTEREST ONLY | - | LVR 60% - 70% | calculated daily, paid daily |
| VARIABLE | 6.39% | 6.39% | OWNER OCCUPIED | INTEREST ONLY | - | LVR 70% - 95% | calculated daily, paid daily |
| VARIABLE | 6.24% | 6.27% | INVESTMENT | PRINCIPAL AND INTEREST | - | LVR up to 60% | calculated daily, paid daily |
| VARIABLE | 6.34% | 6.37% | INVESTMENT | PRINCIPAL AND INTEREST | - | LVR 60% - 70% | calculated daily, paid daily |
| VARIABLE | 6.44% | 6.47% | INVESTMENT | PRINCIPAL AND INTEREST | - | LVR 70% - 95% | calculated daily, paid daily |
| VARIABLE | 6.44% | 6.47% | INVESTMENT | INTEREST ONLY | - | LVR up to 60% | calculated daily, paid daily |
| VARIABLE | 6.54% | 6.57% | INVESTMENT | INTEREST ONLY | - | LVR 60% - 70% | calculated daily, paid daily |
| VARIABLE | 6.64% | 6.67% | INVESTMENT | INTEREST ONLY | - | LVR 70% - 95% | calculated daily, paid daily |
Fees
| Fee | Type | Amount | Details |
|---|---|---|---|
| BRIDGINGLOAN | UPFRONT | $250 | Administration fee to cover the cost of setting-up a bridging loan when buying and selling a property |
| INVLOAN_ADMIN_FEE | UPFRONT | $400 | Plus Costs |
| CONSTRUCTIONLOAN | UPFRONT | $600 | Construction loan fee which includes up to five progress payments to suppliers, additional construction loan progress payment fees $50 per payment |
| CONTRACTVARIATION | EVENT | $150 | - |
| LEGALFEES | CASH_ADVANCE | $0 | First Option covers the first $1000 of Valuation and Legal Fees, other external costs are on-charged at-cost. |
| LOANADMIN | EVENT | $250 | - |
| LOANCONSENT | EVENT | $400 | - |
| MORTGAGEDISCHARGE | CASH_ADVANCE | $175 | Calculated at time of Discharge, up to a maximum of $600 |
| SECURITYGUARANTEE | CASH_ADVANCE | $250 | - |
| SECURITYSUBSTITUTION | CASH_ADVANCE | $250 | - |
| TITLEPRODUCTION | CASH_ADVANCE | $150 | - |
| GOVERNMENTFEESCHARGES | CASH_ADVANCE | $0 | Stamp Duties and other government costs depend on value of the property and state |
Rate history
Rate Comparison rate
The figures behind this chart
| From | Until | Rate | Comparison |
|---|---|---|---|
| 2026-07-15 | 2026-09-30 (current) | 5.99% | 5.99% |
Published figures as captured daily since 2026-07-15. A step is the day the provider's published figure changed; days without a published figure carry the last published value.
Features
Who can apply
- min age - 18
- natural person
- residency status - Australian Residents
Limits
- min limit - 5000.00
- max limit - 2000000.00
The provider's own documents
Published by the provider under the Consumer Data Right. These are their documents, not ours - they are the authority on this product.
Last updated by data holder: 2026-09-14T11:28:52.000+10:00 · Product ID: SIMPLE_HOME_LOAN