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First home loan deposit scheme First home loan deposit scheme

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Please note that First Home Loan Deposit Scheme places for the 2020-21 financial year have been filled, however an additional 10,000 guarantees will be made available in 2020-21 for eligible first home buyers to build a new dwelling or purchase a newly built dwelling. Please contact us to register your interest.

Special offer - First Home Buyers
2 Year Fixed Rate (Min borrowing $100,000)

1.99% pa1
variable interest rate

2.83% pa2
comparison rate

View other Home Loan options

By taking advantage of the First Home Loan Deposit Scheme offered by Endeavour Mutual Bank:

  • You won’t need to pay lenders mortgage insurance, saving you up to $30,000* (Savings are estimated based on using an LMI premium calculator for a 95% LVR loan on a property valued at $700,000)
  • You only need as little as 5% deposit
  • You can save thousands in interest by no longer needing to add the cost of mortgage insurance to your loan*
 

We waived the Valuation fee (up to $500) and the Establishment fee ($250) for First Home Buyers Loans. Click to view our range of competitive variable and fixed rate products.

 

Product Interest Rate Comparison Rate*
First Home Buyers Basic Variable Rate 2.87% pa 2.90% pa
First Home Buyers Standard Variable Rate 2.97% pa 3.00% pa
1 Year Fixed Rate 2.44% pa 2.98% pa
First Home Buyers 2 Year Fixed Rate (Special Offer) 1.99% pa1 2.83% pa
Special Offer 3 Year Fixed Rate 2.28% pa3 2.86% pa
5 Year Fixed Rate 2.94% pa 3.02% pa

 

*Comparison rates are calculated on a loan amount of $150,000 over a term of 25 years. WARNING: Comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

View all First Home Buyers products including features and benefits

Once you find the property of your dreams, we’ll look after the rest.

Apply Online

To register your interest or if you would like to find out more about how we can help you buy your first home via the First Home Loan Deposit Scheme, please fill out the form below.

Why choose Endeavour Mutual Bank?

  • Endeavour Mutual Bank has been providing banking services to the community for over 65 years. At Endeavour, you're not just a customer, you're an owner!
  • We’re not like the big banks. We are customer owned and by putting you first, our investment is in you without the conflict of interest between customers and shareholders.
  • We are not behind big banks in terms of facilities. We have more than 20 branches, Internet Banking, Mobile Banking App, Apple & GooglePay and an Australia-based call centre.

*The FHLDS will allow participating borrowers to avoid paying Lender’s Mortgage Insurance (LMI), which low-deposit home buyers taking out a 30-year loan without the scheme would typically be charged. Savings estimate is based on the average LMI insurance premium quoted from Genworth’s LMI premium estimator calculator for a 95% LVR loan on a property valued at $700,000, which is the maximum property price cap under the scheme. All information is correct as at 1/07/2020 and subject to change. Full details available on application. All applications are subject to Australian Mutual Bank Ltd normal lending criteria. Terms, conditions, fees and charges apply. Endeavour Mutual Bank and Sydney Mutual Bank are divisions of Australian Mutual Bank Ltd | 59 Buckingham St, Surry Hills, NSW 2010 | PO Box 881, Haymarket, NSW 1240 | ABN 93 087 650 726 | Australian credit licence 236476 AFSL 236476.

 

1 First Home Buyers 2 Year Fixed Rate Special Offer is applicable to loan applications received on or after 9 October 2020 and is subject to change without notice. New money only with a minimum borrowing amount of $100,000. Offer available for a limited time only and may be withdrawn once portfolio is met.

2 This comparison rate is based on a $150,000 loan over a term of 25 years. WARNING This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. All loan applications are subject to Australian Mutual Bank Ltd normal lending criteria. Fees and charges, terms and conditions apply.

3 Special Offer Fixed Rate Home Loans is applicable to loan applications received on or after 1 July 2020 and is subject to change without notice. New money only with a minimum borrowing amount of $100,000. Offer available for a limited time only and may be withdrawn once portfolio is met.