We offer Principal & Interest and Interest Only home loans for Owner Occupiers and Investors on variable and fixed rates for refinancing or buying established property.
Do you really charge no fees?
We don’t charge fees! It’s true, we really don’t – no application or valuation fees, no annual or monthly fees, no discharge fees on our Straight Up or Power Up home loans. Seriously WTF, Where’s The Fees? There are no Athena home loan fees, although there will be Government charges involved, regardless if you’re buying or refinancing.
If you’re buying, there are upfront costs charged by the Government and third-parties that you will need to consider. These can include stamp duty, transfer fees, mortgage registration fees, legal fees, pest and building inspections fees, and home, building and contents insurance. Upfront costs will vary depending on your situation.
If you’re refinancing, the Government will charge you for making the switch. We will increase your loan amount by $260 - $440 depending on your State, to cover not only these but also any minor changes to your existing loan balance right before the refinance. This helps speed up your refinance and reduces the hassle of you having to cover any shortfall on the day of settlement. Of course any surplus that isn’t needed goes straight to your nominated account at settlement, which you can choose to pop back into the loan and reduce the balance again.
If you’re on a fixed rate loan, there is a break cost to us that we may pass on if your fixed loan is broken. That’s because we borrow money and enter a financial contract on your behalf for a fixed rate period. If that loan is repaid early, changed or ended before the end of the fixed rate period, we may incur break costs. The factors which influence the break costs are the movement of the interest rates, the amount of time left on the loan and the size of the loan amount.
Do you have a Redraw? Do you have an Offset?
Yes, on our Straight Up home loan we have a redraw function and both on our Power Up home loan! A fee-free Redraw and a fee-free Offset!
Both are easy to use and both help you pay down your loan faster! Read more about Athena’s fee-free offset here.
Am I eligible for an Athena home loan?
Athena home loans aren’t for everyone. There are a few boxes that need to be ticked off:
You’re refinancing or buying an established property
Borrow up to 80% of the value of your property
At least one applicant is employed (PAYG) where you are employed by someone else
If you’re self-employed, you must have been trading for more than 2 years
Your property is in a capital city or major population centre
Your property is at least 50m² in living area excluding balconies and car space and the total land size is a maximum of 6 hectares
You’re an Aust/NZ citizen or permanent resident living in Aus
Athena acknowledges the traditional owners of the land on which we gather the Gadigal people of the Eora nation. We acknowledge that sovereignty was never ceded and respect their continued and continuing connection to this place.