Established in 2019, Athena Home Loans has provided nothing short of excellent lending service to its eligible borrowers. Athena Home Loans is a digital non-bank lender that was created in 2019 to make the way to home ownership as smooth and fast as possible. They are a provider of home loans for refinancers, investors, and owner-occupiers.
This company has its headquarters in Sydney, New South Wales. It is a well-known Australian home loan platform that is known for its innovative and digital approach. It has only gotten positive reviews from its customers, and it has a team of more than 100 experts who are dedicated to delivering a variety of home loan options, which include variable-rate loans, fixed-rate loans, and offset accounts.
Furthermore, Athena extends its services to financial planning and home loan insurance. One notable thing about this company is its business model as a lender, which implies that it operates without any physical branches. Ultimately, they extend their products and services via its digital platform and a robust mortgage network.
Who is Athena?
Athena is a new digital lender that has appeared in the Australian home loan space. Athena motivates its borrowers to pay off their home loans as soon as possible so they can relax and enjoy their home debt-free. If you are new to the realm of online home loans, then you should rest assured because Athena partners with big investors.
Why Choose Athena?
There are lots of features that Athena offers to help you shape and make your home loan flexible. Here are some of the benefits that Athena Home Loan offers:
- There are no recurring fees.
- Provision of automatic rate matching.
- Absence of application fees.
- Assurance of a life-for-like loan rate match.
- Availability of AcceleRATES.
- There are no Athena discharge fees.
Athena Home Loans has received praise and gained recognition for its approach to home lending.
Features of Athena Home Loans
Athena continues to be the best lender in the business by taking on a customer-first approach and competitive home loan rates. Here are the features of Athena Home Loans:
- Low rates: borrowers are very concerned about the interest rate on their home loans. Athena’s rates are ranked among the most competitive among the lenders.
- Automatic rate drop: Athena rewards the borrowers with a special feature that automatically reduces their interest rate as they pay off their loans.
- Award winner: Ever since it was established, Athena has been a regular Mozo Experts Choice Home Loan Award winner.
- Fabulous features: Athena’s home loans provide tons of features, which include access to an offset account, a redraw facility if you need to take advantage of the additional contributions, and the ability to make free additional repayments.
- Zero fees: Athena is a low-cost lender, which is why it does not charge its home loan customers any upfront fees.
- Athena mobile app: this lender has a mobile app that makes everything a lot easier. You can easily manage your home loan from your mobile device.
- Split loans: borrowers can have up to 10 different loans against their home with Power Up and configure them however they want.
- Instant decision: you can get approved within minutes when you apply for a home loan.
- Multi-offset accounts: Athena’s Cash Stashes gives borrowers flexibility and control over their budget and lowers their interest charges.
Athena prides itself on being one of the best home loan providers in Australia, with features that suit borrowers.
Types of Athena Home Loans
Athena offers different types of home loans to suit the needs of every borrower. Here are the types of home loans it offers:
Power Up Home Loans
This is a no-fee variable home loan offered by Athena with a multi-offset, splits, and super flex. This type of home loan is packed with lots of features. With this type of loan, you can split loans and supercharge your savings with an Athena offset account.
Borrowers will get great rates from the onset that will stay great from the first day until they pay off their loan. There is also no loyalty tax. In addition, there are no valuation exits or monthly fees for Power Up. Furthermore, Athena also reduces your rate the more you pay your loan with Athena AcceleRATES.
Straight-up Home Loans
This type of home loan gives you the lowest rates with attractive features to help you pay your home loan a lot faster. Your rates will also be automatically reduced the more you make payments for your home loan with Athena AcceleRATES.
There are also no fees, no valuation, monthly fees, or exit fees. In addition, the more you withdraw in your redraw, the less interest you will pay, and there is also the Athena App that gives you access to your home loan from your mobile device.
Interest-Only Home Loan’
With an Athena Interest Only Home Loan, borrowers will only pay the interest charged on their loan balance. This means that your repayments are much lower when compared to principal and interest. An interest-only loan could be a short-term option. Athena provides sharp rates for interest-only loans when compared to other lenders.
Fixed-Rate Home Loans
A fixed-rate home loan gives borrowers peace of mind that their interest rates and repayments won’t change during the period of your fixed rate. This means that you will be protected from increases in variable interest rates. However, if the variable loan interest rate drops, your fixed rate will still be the same.
Furthermore, you can make up to 5% in generous additional repayments of your outstanding loan balance each year. The lower your LVR is at the end of the fixed rate period, the lower your rate will be. There are no application fees.
Athena Home Loan Rates
Here is the breakdown of Athena home loan rates:
- Variable rate loans: rats initiate at 3.99% per year.
- Fixed-rate loans start at 3.99% per year for a 1-year term, 4.49% per year for a 2-year term, and 4.99% per year for a 3-year term.
- Offset accounts start at as low as 0.05% per year.
Note that these rates might fluctuate, so it is a good idea to get a customized quote from Athena Home Loans before applying for any loan.
How To Sign Up For an Athena Account
Having an Athena account is very important, as you will be able to manage your loan and make payments for it from your account. The steps below will guide you on how to sign up for an Athena account:
- Visit the Athena official website.
- Also, on the homepage, click the Login button.
- You will be taken to a new page.
- Then, click the sign-up button.
- Next, enter your valid email address.
- Create a password.
- Confirm your password.
- Lastly, tap the Sign Up button.
And it is as easy as that. After following the steps listed above, you will be able to sign up for an Athena account.
Eligibility Requirement For Athena Home Loans
Athena set some requirements to determine if you were eligible for their home loans. You need to be able to meet these requirements, which include:
- You must be a citizen of Australia.
- The total size of your property should not be more than 6 hectares.
- You must have a good credit score.
- You must show proof of employment.
- You must only borrow 80% or less of your property’s value.
If you can meet the above-mentioned requirement, then you can proceed to apply for an Athena Home Loan.
How To Apply For Athena Home Loans
Before you start applying for an Athena home loan, you need to compare lenders and choose the products that suit you the best. After deciding to apply for a home loan with Athena, you need to submit the necessary documents with your application and other supporting documents through the HRe HR online portal.