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Home Loan help, however you want to ask


Chat with our Home Loan Concierge when our chat notification pops up.

You can even ask your home loan questions in Facebook Messenger!

Call our Concierge on 03 8536 7890 or request a call back: Existing Loan or New Home Loan.
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Or, book a video call with our Concierge to chat about your Home Loan.
In real life
Meet with a Home Loan Concierge, where permitted, face to face in-branch!

Become quietly confident with your first home loan by knowing what to expect.

First home buyer grants

Building or buying your first home in Victoria? Learn about the First Home Owner Grant, as well as stamp duty exemptions.

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Home loan terms, explained

What in the world is LMI, LVR and offset? Watch our video clips for explanations behind popular home loan terms.

Watch videos

Getting started: FAQs

Find answers to the big questions, like do you need loan approval before auction and how do you know which home loan’s right for you?

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Purchase costs

Our stamp duty and lenders mortgage insurance calculator could help you estimate these property purchase costs.

Estimate costs


Get an idea of what your borrowing power could be. Discover how choosing fixed, variable or Interest Only can affect your repayments.

Buy with confidence

Research the neighbourhood – and whether you can afford to buy there – with our free online full Property Reports. 

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Don’t quite have a 20% deposit?

First home buyer
Get into your first home sooner with a minimum deposit of 15% of the property’s bank valuation. 
Reduced LMI
Reduce the cost of your Lenders Mortgage Insurance (LMI) to $1 – you could save thousands.
Owner Occupier with Principal & Interest repayments. Max loan size $850k. LVR+ up to 85% at time of approval. T&Cs and exclusions apply^.

FAQs on our first home buyer LMI offer

You can reduce the cost of Lenders Mortgage Insurance (LMI) to $1 if you’re an eligible first home buyer. You’ll need to contribute a minimum deposit of 15% of the property’s bank valuation to be eligible. And submit your home loan application either online, in-branch with our lending experts, or with your broker, who’ll chat about your eligibility and how best to tailor your loan.

Once your application’s been approved, the Bank of Melbourne team will apply this home loan offer by reducing your LMI to $1, which will be reflected in your Loan Offer Documents. 

It’s important to keep in mind this offer can be withdrawn or varied at any time. You’ll find the rest of the offer details and eligibility criteria at the bottom of the page under ‘The Detail’.

The bank for first home buyers

  • Awarded at RFi Group Australian Lending Awards 2021 for Best First Home Buyer Lender

The Detail

Credit criteria, fees and charges apply. Based on Bank of Melbourne credit criteria, residential lending is not available for Non-Australian resident borrowers.

Before making a decision, it’s best to read the terms and conditions:

Residential Loan Agreement – General Terms and Conditions (PDF 345KB)

Loan Accounts – Charges for specific services and accounts (PDF 331KB)

Advantage Package - Terms and Conditions (PDF 140KB)

^ First Home Buyer LMI Offer: Available for First Home Buyers who apply for their first home loan for their first property with loan to value ratio (LVR) up to 85% at time of formal approval. For joint applications, only one applicant must be a first home buyer. Owner Occupier Principal and Interest repayments only. Maximum loan size of $850k. Offer current as of 27 July 2020 and can be varied or withdrawn at any time. Only one property to be financed per application. Excludes Residential Investment Loans, Portfolio Loans, Constructions Loans, switches and refinances of home loans within the Westpac Group which includes St.George, Westpac, Bank of Melbourne, BankSA and RAMS. Offer not available for Owner Occupier Interest Only loans or residential lending originated under family or company trusts. Offer not available in conjunction with the Family Pledge option. Your application will be assessed and once approved, you will be charged LMI of $1.00. This will be reflected within the Loan Offer Documents. LMI subject to approval and you must adhere to LMI obligations during the loan agreement. This offer is not an LMI wavier. Lenders mortgage insurance (LMI) is issued to Westpac Banking Corporation ABN 33 007 457 141 (Westpac) and insurers Bank of Melbourne (it is not insurance you take out). This information does not take into account your personal circumstances. Terms, conditions and limitations apply.

+LVR stands for the initial loan to value ratio at loan approval. LVR is the amount of your loan compared to the Bank’s valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and don’t change because of changes to the LVR during the life of the loan.

#Advantage Package Terms & Conditions (PDF 140KB) apply. A $395 annual package fee applies and is payable from a Bank of Melbourne Complete Freedom transaction account. Before deciding to open a Bank of Melbourne Complete Freedom account, read the Terms & Conditions, and consider if the account’s right for you.