Firstmac Fixed Home Loan

Fixed rate home loans are an important option to always consider. Many home buyers focus on finding the lowest variable interest rate, although factors which should always be taken into consideration.

A variable rate home loan provides a great level of flexibility, such as allowing additional repayments and access to these funds via redraw.

Firstmac's fixed rate home loan provides one key advantages

• Managing your budget – Your home loan is often your largest monthly expenses. A fixed rate home loan provides peace of mind, knowing your monthly payment will not change for an agreed period time(typically between 1 – 5 years).

Before choosing to fix all or part of your Firstmac home loan, you do need to be aware of their limitations. These limitations include a lack of flexibility such as limited additional repayments, potentially no redraw or offset accounts. In the event that you need to make extra repayments or change your fixed rate loan home loan, you could incur break fees which can very expensive.

We have prepared a guide to help you better understand the potential benefits and limitations of fixing your home loan.

Fixed rate home loans are an important tool available to homeowners, but it is important to weigh up the benefits and limitations first. We also recommend speaking with your mortgage broker or bank before proceeding.

¹The above graph(s) represent Firstmac's lowest fixed rates, based on an owner occupied loan of $500,000 and with an LVR ('loan to value ratio') of 80%.
²Historical fixed interest rates relate to Firstmac's historical fixed rate products that are no longer available.

The above fixed rate graph is a representation of Firstmac's historical fixed rates over the last 2 years. It has been designed to provide you with context, in relations to rate cycles and where the current fixed rate sits within this cycle.

Firstmac's current fixed rate home loans are displayed above each graph. The graph contains historical rates which are not available and are shown as a guide only. It is always recommended that you speak with your lender or mortgage broker, before fixing your home loan. It is important you understand the risks, such as potential breakfees or feature limitations such as redraw that may relate to your circumstance.