Also known as AFM, Australian First Mortgage is a non-bank lender to residential clients, as well as those looking for commercial property finance, and leasing finance. Established in 2003, the company is currently being led by 3 full time directors who have a combined industry experience of 100 years. Its office is based in Homebush NSW, and has offices in Victoria, Queensland, South Australia, and Western Australia. It also provides home loans in Tasmania and Darwin.
AFM’s fund sources include a number of leading banks in Australia as well as wholesale lending institutions. This enables the company to provide its clients a wide variety of options when taking out a home loan depending on their needs and goals. The company is a member of the Mortgage Finance Association of Australia and the Credit Ombudsman Scheme.
AFM offers three distinct products: Residential, Commercial Property Finance, and Leasing Finance. Below is an overview of each product:
1. Residential. There are two options under this product: Conforming and Non-Conforming. The former is for those looking for a traditional mortgage, which includes a choice between a fixed and variable rate, principal and interest or interest-only repayments, refinancing, debt consolidation, bridging finance, and construction loans.
Meanwhile, the other option is suited for those with more specialised needs, such as low documentation loans, Self-Managed Superannuation Fund Loans, high LVR loans (95%), and loans for first time home buyers.
2. Commercial Property Finance. As the name would suggest, this is for clients looking to purchase commercial property, such as factories, office spaces, and industrial real estate. As with AFM’s other loan options, this may be customised according to the needs of the client. Therefore, there are also options between fixed and variable interest rates, and flexible loan terms.
3. Leasing Finance. Those looking for finance when acquiring vehicles and equipment will benefit from this product.