Firstmac reviews: 2026 independent read

Firstmac and loans.com.au: two brands, one lender

Firstmac operates two principal consumer-facing brands. Firstmac is the broker-distributed brand, accessed primarily through accredited mortgage brokers. Loans.com.au is the direct-to-consumer digital brand, accessed primarily through the loans.com.au website. Both brands share the same underlying credit policy, balance sheet and product structure; the difference is the distribution channel.

For consumers, this means that the loans.com.au online experience and the Firstmac broker-channel experience generally produce the same credit decision and broadly similar pricing on the same file, with some brand-level differences. A broker quoting Firstmac and a borrower applying directly through loans.com.au are largely shopping the same lender.

The prime owner-occupier focus

Firstmac's home loan range is weighted to prime owner-occupier P&I borrowers. The lender writes investor loans and accepts some non-standard files, but the core proposition is clean-credit, standard-income borrowers at reasonable LVR. For specialist credit (impaired credit, alt-doc self-employed with complex structure), Firstmac is generally not the right placement.

On rate, Firstmac has historically been competitive against the digital majors (Athena, ING, Macquarie) for prime owner-occupier P&I, particularly at low LVR. The rate is set on the standard variable model with package and no-annual-fee variants available.

When Firstmac is the right pick

Firstmac is a reasonable choice for borrowers who: are prime credit profile with standard income, are buying or refinancing a standard owner-occupier or investment property at reasonable LVR, value a long-established non-bank balance sheet over a more recent fintech entrant, and either prefer broker-channel access (Firstmac) or digital direct (loans.com.au).

It is not the right pick for borrowers with complex income, adverse credit or specialist file types. Those files should go to Pepper, Liberty, La Trobe or Bluestone.

Refinance proposition

A meaningful share of Firstmac's volume is refinance rather than first-time purchase. The combination of competitive rate against the Big 4 packaged products plus a straightforward application process makes Firstmac a common comparator on broker refinance shortlists. The streamlined like-for-like APG 223 refinance carve-out applies to Firstmac as it does to other lenders, which can ease the credit assessment for borrowers refinancing the same loan size.

Is Firstmac legitimate?

Yes. Firstmac holds Australian Credit Licence 290600 and has been operating in the Australian non-bank market since 1979.

Is loans.com.au the same as Firstmac?

Loans.com.au is the direct-to-consumer digital brand of Firstmac. Both brands share the same underlying credit policy and balance sheet; the difference is the distribution channel. A consumer can access broadly the same lending through either path.

Is Firstmac a bank?

No. Firstmac is a non-bank lender, which means it is not an Authorised Deposit-taking Institution (ADI) and does not hold customer deposits. Firstmac funds its lending through residential mortgage-backed securities and wholesale markets. National Consumer Credit Protection Act borrower protections apply to Firstmac loans the same way they apply to bank loans.

How does Firstmac compare to Athena?

Firstmac and Athena are two competitive non-bank options for prime owner-occupier P&I borrowers. Firstmac has the longer operating history and a broker-channel emphasis; Athena has a more polished digital marketing presence and a no-annual-fee variable brand position. The rate gap between the two varies week to week.

Does Firstmac do self-employed home loans?

Firstmac accepts some self-employed files within its standard credit policy, particularly for borrowers with established business history and clean credit. For complex self-employed structures or alt-doc files with non-standard income, the specialist non-banks (Pepper, Liberty, La Trobe, Bluestone) are typically the better path.