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Buying your first home

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At Unity Bank, we’ve helped thousands of our young Members buy their first home and achieve their home ownership dream. We understand how exciting it can be to buy your first home and how overwhelming it can also be.

If you're also a first home buyer, take advantage of our low discounted rates and waived Unity Bank establishment, legal and valuation fees (government charges apply). You may save thousands of dollars on your first home. The stamp duty scheme released by the Australian Government for first home buyers is also a welcome helping hand. Together with our discounted rates only for first home buyers, it is a great opportunity to buy your first home.

You will find more details on the special discounted rates and information only for first home buyers on this page. If you have any questions, click the button on the right. Alternatively, you can contact us by phone on 1300 36 2000 or email at

Get in touch today!

Home Loans for First Home Buyers - Owner Occupied

Fixed Rate Home Loans

Enjoy the certainty of knowing your repayments do not change for a set period with our low fixed interest rates and no fees.

  • NO LMI on LVR up to 85% for first home buyers
  • FLEXIBLE repayment options at no extra cost
  Principal & Interest Interest Only
Owner Occupied First Home Buyers Fixed Rate Home Loans1 Interest Rate Comparison Rate Interest Rate Comparison Rate
Fixed 1 Yeara 1.84% pa 2.33% pa2 3.48% pa 2.47% pa2
Fixed 2 Yeara 3.04% pa 2.49% pa2 3.83% pa 2.62% pa2
Fixed 3 Yeara 3.69% pa 2.71% pa2 4.18% pa 2.82% pa2
Fixed 5 Yeara 4.39% pa 3.18% pa2 4.79% pa 3.31% pa2

Variable Special Home Loans

Get better rates based on your LVR. Different interest rates will apply according to your LVR plus all the benefits that come with our standard First Rate.

  • UNLIMITED redraw facility available
  • FLEXIBLE repayment options at no extra cost
  • NO early repayment penalties


Principal & Interest and Interest Only
Owner Occupied First Home Buyer First Rate Variable Special Home Loans1 Interest Rate Comparison Rate
First Home Buyer First Rate Variable Special (LVR of 70% and below) 2.28% pa 2.28% pa2
First Home Buyer First Rate Variable Special (Above 70% LVR) 2.38% pa 2.38% pa2

More information to help you on your journey


Home Loan calculators

Play with these calculators to get your estimated repayments, borrowing power and stamp duty costs.

How much can I borrow? How much will my repayments be? How much is stamp duty?

Need help? Get in touch today!

Give us a call Talk to a Loans Specialist


What are the terms and definitions you might need to know?

  • Auction: A public sale, sold to the highest bidder.
  • Basic Variable Rate: Rate can vary at any time with notice from the financial institution.
  • Comparison Rate: Is the rate that includes all fees, charges and assessable costs of the mortgage.
  • Conditional Approval: Mortgage is approved, subject to conditions such as income, valuation and mortgage insurance.
  • Content and Building Insurance: Covers your building and possessions kept in your home in the event of theft, fire, floods or any other specific act which harms your building or possessions.
  • Contract of Sale: A legal document committing to the purchase of a sale.
  • Credit Rating: Will determine if the borrower has any defaults, this is found out through credit agencies.
  • Deposit Bond: Guarantee provided for the deposit if needed for when the exchange of contracts is conducted. It is used when funds are currently not available for a deposit.
  • Exchange of contracts: Solicitors carry out this act of swapping signed contracts between the buyer and vendor, formalising the purchase/ sale contract.
  • FHOG: First Home Owners Grant, a sum of money given to first home buyers as a subsidy from the government.
  • Genuine Savings: At least 5% of the property price has to be saved over a period of time, or at least held for 6 months.
  • Income/Life Insurance: This is cover for your mortgage and property in the event of death, injury or loss of income, depending on your policy.
  • Lender’s mortgage insurance: Protects the lender if the borrower defaults on the mortgage.
  • Loan Agreement: Document that outlines the details of fees, charges, and costs related to the mortgage
  • LVR: Land to Value Ratio, the % of the property compared to the funding needed. E,g:  If you want to borrow 95% of the property, that is your LVR
  • Mortgage: A document that entitles the lender to be on the property title and have charge over the property if the borrower defaults
  • Personal Liabilities: What the borrower is already committed to financially.
  • Settlement: The day you become a property owner! The mortgage becomes funded on this day, and you become the legal owner of your new property.
  • Stamp Duty: This is a tax for your mortgage and property. If you are a first home buyer you may be eligible for exemption of the stamp duty relating to your property.
  • Redraw: Withdrawal of payments made above the required or normal repayment instalment.
  • Registration of property: The lender will register your mortgage at the land titles office.
  • 100% Offset: This facility can reduce your interest bill on the mortgage. It involves savings in an account available at call that will take 100% off the principle amount of the loan

For any further information on please visit our Buying a Home FAQs

Credit eligibility criteria, terms and conditions, fees and charges apply.
1. Only available for First Home Buyers. Minimum home loan balance $150,000. Not available for top-ups or internal product switches. Loan to Value Ratio(LVR), is the ratio of money you borrow compared to the value of the property used as security, as determined by the Bank.
2. Comparison Rate is calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. These rates are for secured loans only. WARNING: These 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. Interest rates are on a per annum basis.
a. After fixed period interest rate reverts to First Home Buyer Variable Rate Special dependant on LVR.