Rates as at 28 Sep 2026
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This variable rate option from Firefighters Mutual Bank is designed for investment property purchases with principal-and-interest repayments, and carries an interest rate of 7.09% with a comparison rate of 7.16%. Borrowing is available up to 98% of the property value, though deposits under 20% typically attract Lenders Mortgage Insurance. Because the rate is variable, it can move if the lender changes its rates. Membership is required, with eligibility extending to current or retired fire and emergency service employees, volunteers and their families.
This summary was generated from Firefighters Mutual Bank’s published product data for this specific rate option. Always confirm current rates with the lender.
Interest only loans have traditionally been tailored to investors so they can reduce their mortgage repayments and maximise their tax benefits and overall return on investment (ROI). However, getting home loan with interest only (IO) has its place and some lenders are willing to consider your application if you can provide valid reasons.
LVR is an acronym for Loan-To-Value Ratio. The LVR is the amount you are borrowing against the property value being used as security, represented as a percentage.
IMPORTANT:Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with Firefighters Mutual Bank or a mortgage broker just to be sure. This information should be used as a guide only.
Firefighters Mutual Bank charge a discharge fee of $210, which covers the cost for removing the mortgage that has been registered on the title of your property.
Firefighters Mutual Bank charge a discharge fee of $250, which covers the cost for removing the mortgage that has been registered on the title of your property.
No, Your Way Basic Home Loan does not come with an offset account. Generally speaking, variable home loans without offset accounts are often called basic or 'no-frills' loans, you get lower account-keeping fees and lower interest rate for your home loan. In some cases a basic home loan can actually be cost efficient than a 100% offset account.
No, Your Way Basic Home Loan does not come with an offset account. While it does not have the convenient that comes with an offset account, but $Your Way Basic Home Loan comes with a redraw facility. A redraw facility works similar to an offset account. If you put the same amount into home loan as extra repayments, your interest bill will reduce by the same amount, but still have access those extra funds if you need them later.
There is upfront costs of $250 to apply for Your Way Basic Home Loan. Settlement fee: $250 Your Way Basic Home Loan also comes with ongoing account fees of $300 per year. Annual fee: $300 per year
Lenders change their policy from time to time so this information is current only accurate at the time that it was written. You should always check with Firefighters Mutual Bank or a mortgage broker just to be sure. This information should be used as a guide only.