Start your property journey with $5,000 cashback*


Until 30 November 2025, eligible first home buyers can enjoy a $5,000 cashback*, making the dream of home ownership even more achievable. Whether you're applying for an owner-occupied or investment home loan, you may qualify for the First Home Buyer cashback*, even if you're not using the Australian Government 5% Deposit Scheme.

For those who do meet the criteria for the scheme, it allows you to purchase your first home with as little as a 5% deposit and no need for Lenders Mortgage Insurance#.

Apply or enquire today - our team are here to help you through the entire process.

     

 

   

 

        

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How to Apply

Getting started is easy – and only takes a few minutes.

  • Apply online

    Start your application from home at your own pace. Save your contact information and we'll reach out if you may need support.

  • We’ll review your application

    Once we've received your application, we'll get in touch to let you know the outcome or to ask for further information if required.

  • Prefer to speak with a person?

    Enquire now for a call back or visit us in branch and our team will guide you through the process.

Calculators

Ready to plan your next step? Our easy-to-use calculators can help you estimate your repayments and understand how much you could borrow, so you can move forward with confidence.

View all our online calculators →

Budget Home Loan

Budget Home Loan Rates

Product Interest Rate Comparison Rate
Owner Occupied Special Variable Rate LVR ≤95% 5.19% p.a. 5.19% p.a.
Investment Special Variable Rate LVR ≤90% 5.69% p.a. 5.69% p.a.

 

Product Features:

Home Loans
Interest : Calculated daily, charged monthly
Minimum Amount : $100,000
Loan Term : Up to 30 years
Repayments : Weekly, fortnightly or monthly
Additional Repayments : Yes, permitted with no additional cost
Annual Fee : $0
Application Fee : No
100% Offset Account : No
Principal and Interest Loan : Yes
Interest Only Loan : No
Variable Interest Rate Option : Yes
Fixed Interest Rate Options : No
Switching Fee : $300
Rollover Fee : $200
Redraw Facility : Minimum redraw $1,000 - online or staff assisted
Document or Information View or Download
Fees, charges and limits Learn more →
Target market determinations Learn more →
Interest rates Learn more →
Home Loan Key Fact Sheets Learn more →
Important documents Learn more →
Compare all home loan accounts Compare now →

Make it yours

What are you waiting for? Apply online now to make it yours.

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  • 1

    First Home Buyer Special Offer: Rate includes a discount margin off the applicable Owner Occupied Budget Home Loan Variable Rate. Margin and rate subject to change. Offer is available to First Home Buyers for new loans with a minimum amount of $500,000 with a LVR up to 95%. Offer may be withdrawn at any time. Non-First Home Buyers Special Offer: Rate includes a discount margin off the applicable Owner Occupied Budget Home Loan Variable Rate. Margin and rate subject to change. Rate only available for new loans to The Mutual Bank with minimum new loan amount of $100,000 and maximum LVR of 80%. Offer may be withdrawn at any time.

  • 2 Comparison rate calculated on a loan amount of $150,000 over a term of 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.
  • 3

    First Home Buyer Special Offer: Rate includes a discount margin off the applicable Investment Budget Home Loan Variable Rate. Margin and rate subject to change. Offer is available to First Home Buyers for new loans with a minimum amount of $500,000 with a LVR up to 90%. Offer may be withdrawn at any time. Non-First Home Buyers Special Offer: Rate includes a discount margin off the applicable Investment Budget Home Loan Variable Rate. Margin and rate subject to change. Rate only available for new loans to The Mutual Bank with minimum new loan amount of $100,000 and maximum LVR of 80%. Offer may be withdrawn at any time.

  • 4 Access to redraw funds is subject to The Mutual Bank’s discretion and the terms of your loan agreement. If approved, any repayments made in excess of the minimum monthly required amount may be available for redraw via electronic banking or with assistance from bank staff. The minimum amount that can be redrawn is $1,000.

*Cashback offer is available for new applications submitted between 16 October and 30 November 2025 and settled by 30 April 2026. For Construction loans, settlement is considered when there is settlement of land or when the first progress payment has been made. Offer can be withdrawn at any time. Minimum loan amount $500,000. Only available for eligible first home buyers for purchases and construction to build a house. Excludes purchases for land and Off the Plan. To qualify, your salary must be paid into an Everyday Account or 100% Offset Account. Note: Budget Home Loan does not support construction loans or an offset account. See First Home Buyer Cashback Offer T&Cs. 

#Lenders Mortgage Insurance (LMI) required for Loans with an LVR greater than 80%, with the exception of the Australian Government 5% Deposit Scheme. 

The Mutual Bank was awarded Lender of the Year (Customer Owned Bank) – Home Loans and Finalist for Best for First Home Buyers (Finalist) in the 2025 WeMoney Financial Services Awards.

Maitland Mutual Limited trading as The Mutual Bank, ABN 94 087 651 983 AFSL/Australian credit licence 238139.