Athena cuts its variable rates 9 times in 3 years

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As Australian mortgage borrowers face the increasingly likely prospect of interest rate hikes, a mortgage challenger is bucking the trend and dropping its variable rates to new records.

The popular online lender Athena has just cut its variable rates for the 9th time in 3 years. Athena now offers some of the lowest no-fee variable rates in the Mozo comparison database, starting at just 1.89% per annum for homeowner borrowers.

“There is a lot of speculation that the cash rate will rise later this year, so we have the opportunity to allow our customers to save more and advance on their loan before that happens. That’s what our voluntary rate cut is for,” said Nathan Walsh, CEO and co-founder of Athena.

Since launching in 2019, Athena has made a name for itself by consistently passing on RBA rate reductions to new and existing customers.

The mortgage challenger estimates it has saved Australians $414 million in interest so far, and customers are loving it. Athena customer Sue, from Victoria, told Mozo: “The only regret I have is that I didn’t leave my old supplier sooner…. Don’t waste your time and money on the big banks”.

So if you’re looking for a better value mortgage that could save you thousands of dollars, read on for our expert overview of Athena’s lowest new home loans for homeowners and investors….

Athena celebrates the variable mortgage
  • Rates from just 1.89% variable rate and comparison rate* (minimum down payment of 40%)
  • Free Clearing Account, Additional Refunds and Withdrawal
  • Zero Fee Athena

The Athena Celebrate Home Loan offers an exceptional variable rate that stays great from start to finish and no upfront or ongoing fees. Features include a 100% free clearing account, free additional refunds, and a free new draw. Plus, to reward borrowers for paying off their home loan, Athena automatically lowers your rate as you pay off your loan. It is available to borrowers buying in the capital or major regional towns.

Athena Celebrate Variable Home Loan – Investors
  • Rates from just 2.19% variable rate and comparison rate* (minimum 40% down payment)
  • 100% Free Clearing Account
  • Zero Fee Athena

Investors who borrow with Athena can also take advantage of competitive variable rates, as well as a range of flexible features like a 100% free clearing account, free additional repayments and a new drawdown. Moreover, you will pay absolutely no Athena fees. Available for investor loans up to $2,000,000.

Want to compare more home loans? Check out the latest mortgage rates from over 80 lenders on Mozo’s Home Loan Comparison Center.

* ATTENTION: This comparison rate only applies to the example or examples given. Different amounts and durations will result in different comparison rates. Costs such as withdrawal charges or prepayment charges, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate shown is for a secured loan with monthly principal and interest repayments of $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges, and therefore the total cost of the loan, may vary depending on your loan amount, loan term and your credit history. Actual repayments will depend on your personal circumstances and changes in interest rates.

^ See Mozo Experts Choice Home Loan Awards information

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