- Firstmac is ideal for borrowers looking for competitive rates, flexible lending options, and alternative documentation solutions — especially self-employed borrowers and refinancers who want strong value without going through a big bank.
- Top 3 reasons to choose Firstmac:
– Competitive rates with full-doc and alt-doc options
– Offset account and redraw available on many products
– Strong track record as a reputable non-bank lender with 40+ years in the market - Key drawbacks to consider:
– No branches (online and broker-only)
– Less suited for complex borrowers with severe credit issues
– Limited digital banking tools compared to neobanks
Who Is Firstmac?
Firstmac is a privately-owned Australian non-bank lender based in Brisbane. Operating since 1979, it has written over $15 billion in home loans and manages funds for retail and institutional investors.
As a non-bank, Firstmac does not accept deposits or offer transaction accounts, but it’s well known for its competitive and flexible home loans — especially for self-employed Australians, low deposit borrowers, and those refinancing.
Firstmac Home Loan Customer Reviews
The rate and product features were great, but I found the document process a little repetitive—had to resend a few things. That said, our broker said this was common with non-bank lenders. Once it was submitted, approval came quickly.
Eric Costa
We’re first home buyers, and Firstmac was recommended by our broker. They offered a great rate, and the loan structure suited our budget. The team was easy to deal with, and the whole thing felt stress-free.
Natasha Whatley
Really impressed with Firstmac’s ability to assess complex income. I’m a contractor, and they didn’t treat me like a risk just because I wasn’t salaried. Very happy with the flexibility and support.
Jared Singer
Our Firstmac loan just settled last week, and the process was mostly smooth. There was a slight delay in document verification, but once that was sorted, everything moved quickly. Great outcome overall.
Sophie Vella
Everything about our loan through Firstmac was handled professionally. I didn’t know much about them before, but they’ve been solid so far. No hidden fees, and the rate was locked in just in time.
Noah Sheridan
Firstmac’s online loan portal is simple and functional, which made uploading documents easy. Our broker handled most of the communication, but we had a few questions directly and the customer service team was responsive and polite.
Emily Zhao
We used Firstmac for an investment property loan. The rate was among the best available, and their service was efficient. It’s nice to work with a lender that doesn’t overcomplicate things—just gets the job done.
Kane Petrou
As self-employed borrowers, we were struggling to get approved with a major bank. Firstmac assessed our situation fairly and offered a competitive product. Settlement went smoothly, and our broker said they were great to work with behind the scenes.
Bianca Rivers
Firstmac was great to deal with during our home loan application. Even though they're a non-bank lender, the service was top-notch, and everything was clearly communicated. We appreciated the straightforward process and low fees.
Thomas Yuen
We refinanced through Firstmac and were really happy with the outcome. The rate was excellent, and the whole process was handled efficiently through our broker. No unnecessary delays, and everything settled on time.
Ava Dickson
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Types of Firstmac Home Loans
Firstmac offers a range of home loan products designed for both standard and non-standard borrowers:
Full-Doc Home Loans
- For PAYG or full-document self-employed borrowers
- Competitive fixed and variable rates
- Up to 95% LVR with LMI
- Offset account available
- Suited for first home buyers and refinancers
Alt-Doc Home Loans
- For self-employed borrowers without full tax returns
- Accepts BAS, business account statements, or accountant’s declaration
- LVR up to 85% (may include risk fees)
- Offset and redraw available on select loans
- Ideal for freelancers and sole traders
Investor Home Loans
- Available in full-doc and alt-doc formats
- P&I or interest-only repayment options
- Offset and redraw available
- Strong pricing for investors building portfolios
Refinancing Loans
- Competitive refinance options, including alt-doc
- Equity release available for renovations or debt consolidation
- Fast approval via broker network
Firstmac Interest Rates & Fees
Firstmac offers highly competitive rates, especially on its packaged and alt-doc products:
- Rates: Low variable and fixed rates across both full-doc and alt-doc options
- Offset Account: Included on eligible variable loans (usually with annual fee)
- Annual Fee: Around $300 for packaged loans with offset
- Redraw Facility: Available on most variable rate products
- Fees: Application and settlement fees vary by broker channel but are often waived during promotions
Firstmac consistently ranks among the most affordable non-bank lenders — offering strong value, especially for alt-doc borrowers.
For the latest Firstmac interest rates and fees for your personal circumstances, speak to a mortgage broker for FREE guidance. They can also help you compare Firstmac's home loans with over 70+ other banks and lenders to ensure you are getting the best deal.
Key Features of Firstmac Home Loans
Despite being a non-bank, Firstmac offers several features that rival traditional lenders:
- Offset Account: On eligible variable rate loans with annual package
- Redraw Facility: Access to extra repayments
- Alt-Doc Options: BAS, bank statements, or accountant letter accepted
- Flexible Lending: Case-by-case assessments
- Quick Turnaround: Fast loan assessments via broker channels
- Eco-Friendly Loans: Green home loan discount available for eligible energy-efficient properties
- SMSF Loans: Available via separate Firstmac lending channel
Pros & Cons of Firstmac Home Loans
Pros:
✅ Competitive interest rates across full-doc and alt-doc
✅ Strong product flexibility for self-employed borrowers
✅ Offset and redraw features available
✅ Fast and streamlined application process via brokers
✅ Reliable, well-established non-bank lender
Cons:
❌ No branches or face-to-face service
❌ Limited digital app functionality compared to banks
❌ Not suitable for borrowers with major credit issues
❌ Must apply via an accredited mortgage broker
Is Firstmac a Good Lender?
Firstmac is a great option for borrowers looking for flexibility, low rates, and a lender that understands self-employed income. With offset options, alt-doc support, and investor-friendly loan structures, it offers features that rival the banks — without their red tape.
Firstmac is best for:
- Self-employed borrowers needing alt-doc loans
- Refinance customers looking for a better deal
- Investors wanting flexible loan options
- Owner-occupiers after strong rates and offset features
If you want face-to-face service or a bundled bank account, Firstmac may not suit — but if you're after great value and speed, it’s a smart choice.
How to Apply for a Firstmac Home Loan
Firstmac loans are only available through accredited mortgage brokers — there’s no direct-to-customer application channel. Speak to an experienced mortgage broker who can help you with your Firstmac home loan application, completely free of charge for you (they are paid a commission by the lender)
Documents typically required:
- Identification
- Income verification:
– PAYG: payslips or tax returns
– Alt-doc: BAS, bank statements, or accountant declaration - Expense and liability summary
- Property contract or refinance documentation
- Credit report and history
Application process:
- Broker assesses eligibility and matches you with the right Firstmac product
- Documents submitted via Firstmac portal
- Approval in 2–5 business days (often faster for standard full-doc)
- Settlement follows shortly after valuation and contract checks
Need Help Comparing Firstmac to Other Lenders?
Let Eden Emerald Mortgages help you compare Firstmac loans with hundreds of others across the market. Whether you’re a self-employed borrower, refinancer, or investor, we’ll help you structure your application for success — and negotiate the best deal.
Our services are 100% free for you, (we are paid a commission by the lender), so there is no downside to working with us.
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To get started on your journey of securing a home loan, fill in the form below, and an experienced mortgage broker will contact you about your personal situation. You can also call us directly on (02) 9188 9398.
