Lender Overview
Athena Home Loans is an Australian non-bank lender founded in 2019. It is one of the fastest-growing mortgage lenders in Australia and is known for its Automatic Rate Match policy, which ensures existing customers always receive the same rate as new customers. Athena is funded through wholesale capital markets and is not an ADI.
Loan Products Offered
Straight Up Variable Home Loan
Variable rate owner-occupier loan with competitive pricing, no offset account, but unlimited extra repayments and a redraw facility.
Evermore Discount Variable
Variable rate product with automatic rate reductions as you pay down your loan and your LVR improves. Unique in the Australian market.
Investor Variable Home Loan
Competitive variable rate for investment purposes. P&I repayments only.
Pros and Cons
Pros
- +Automatic Rate Match ensures existing customers are never on a loyalty penalty
- +Evermore product provides automatic rate improvements as LVR reduces
- +Consistently competitive rates, often among the lowest available
- +Fast, fully digital application and approval process
- +Strong customer satisfaction and transparency
Cons
- -No offset account on most products (redraw only)
- -Not an ADI, so deposits are not government-guaranteed (though this is not relevant for a borrower)
- -Limited product range: no fixed rate options currently
- -Funded via securitisation, which means rates could change faster than bank-funded products
Typical Rates
| Loan Type | Indicative Rate |
|---|---|
| Owner-Occupier Variable (P&I) | RBA cash rate + 2.05% to 2.50% (indicative) |
| Owner-Occupier Fixed | Not currently available |
| Investor Variable (P&I) | RBA cash rate + 2.40% to 2.90% (indicative) |
Athena rates are among the most competitive in Australia. Note the Evermore product rate adjusts automatically as your LVR improves. Confirm current rates on the Athena website.
Application Process
- 1
Fully online application via Athena's website
- 2
Digital identity verification and income documentation upload
- 3
Automated valuation (AVM) for most properties
- 4
Conditional approval often within 24 to 48 hours for clean applications
- 5
Settlement managed with your conveyancer
Who Athena Home Loans Suits Best
- ✓Borrowers who want the best possible rate and are comfortable with digital-only banking
- ✓Those who are frustrated by the loyalty tax and want guaranteed ongoing rate fairness
- ✓Refinancers with clean income and strong LVR who want a fast, low-cost switch
