Interest Rate Change | May 2026 | For current members with an owner occupied or investment variable rate home loan, an increase of 0.25% will apply, effective from 01 June 2026. Learn more 

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First Home Buyer Loan

Our First Home Buyer Loan is designed to help first home buyers get into the market to purchase their first home and start to pay off their new home loan as quickly as possible!

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First Home
Buyer Loan

5.85
%
variable
interest
rate1
PA
6.23
%
comparison
rate2
PA

Our First Home Buyer Loan is designed to help first home buyers get into the market to purchase their first home and start to pay off their new home loan as quickly as possible!

Discount of 0.50%1 for the first 3 years of your loan

Offset facility available

Fee free redraw facility

No account keeping or annual fees

Variable rate loan

Available for First Home Buyers purchasing an Owner Occupied home

Make unlimited additional repayments with no penalties

Easy repayment options to choose your method or set up salary deductions

Apply online Book appointment

Key Features

Interest Rates
Compare home loan rates
Variable Interest Rate
5.85%p.a.
Comparison Rate
6.23%p.a.
Fee
Annual Fee
$0
Monthly Fee
$0
Redraw Fee
$0
Application Fee
$200
Features
Introductory Rate Term in Years
3 years
Maximum Term in Years
30 years
Minimum Amount
$30,000
Offset Account
Offset facility available
Additional Repayments
Unlimited extra repayments
Redraw Facility
Yes
Repayments
Weekly, fortnightly or monthly
Automatic Deposits (salary / account)
Yes
Maximum borrowing capacity (LVR)
80% LVR* up to a maximum of 95% with LMI**
Family Guarantee/Security Guarantor
Yes
Essential information

Key Facts Sheets

A Key Facts Sheet is a quick and easy way to understand your loan and its long-term value. To generate a Key Facts Sheet for our loans, please click the button below.

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Calculator

What do I need to apply?

Here's a list of everything that you'll need to apply for a home loan with us.

Home loan checklist

Latest 2 pay slips or income statements

Latest 3 months of statements (all pages) for all credit/store cards showing the credit limit

Latest 3 months statements (all pages) of all bank accounts

Latest 3 months statements (all pages) of any “buy now/pay later” accounts (if applicable)

A recent copy of rental lease or if boarding, a letter from the owner

Council Rates notice for all properties owned

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How do I apply?

Applying is simple! At LCU you have the flexibility to apply whenever and wherever you want to.

Apply for a Home Loan Apply online now
Get in touch with our team Call us
Email your enquiry to our team Email us
Visit us at our branch Our location
Take a look at our Home Loans

LCU offers a variety of home loans designed to fit your needs. Explore and compare our options to find the right loan and rate for you.

Compare rates
Fees and charges

Check our fees and charges here. If you’d like a copy, we’re happy to send it by email or post whenever you need.

View Fees and Charges
Things you should know

1 Rates are subject to change. Please refer to our rates and fees page. Credit eligibility criteria, terms & conditions, fees & charges apply. Only first home buyers are eligible for “The First Home Buyer Loan” which offers an ongoing discount of 0.50% off our Intelligent Mortgage Variable Loan Rate for the first 3 years after funding. This product is only available for owner occupied, principal & interest loans. Not available for the refinance of existing home loans from external banks or already held with LCU.

2 Comparison rate based on a loan of $150,000 over 25 years. WARNING: This comparison rate is 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.

* LVR is the Loan to Value Ratio, refer to our Home loan FAQ for more information.

** Lenders Mortgage Insurance (LMI) up to 95% of the property value prior to the capitalisation of Lenders Mortgage Insurance.

 

Please view the Target Market Determination for this product here

Disclaimer: “Does not include 3rd Party & Government charges such as: Lenders mortgage Insurance, Lands and Titles, Stamp duty, Valuation or Solicitors fees involved with setting up a home loan and amounts do vary per State & Territory”