based on 7 Athena banking product reviews as rated by Mozo community

Athena home loans

Fintech home lender Athena launched onto the scene in 2019 with a singular goal: making the path to home ownership as smooth - and as short - as possible. Founded by two former NAB executives, the young upstart isn’t afraid of ruffling a few feathers. Its christened itself “the home loan wrecker,” and the low rates on offer promise to do just that.

If you’re looking for options beyond the big banks, or maybe the home loan deals currently out there don’t give you much to get excited about, Athena offers a long-awaited alternative. Best of all, in 2021 Athena took out the title for Home Loan Innovation along with two major Mozo Experts Choice Home Loan Awards in the Low Coast Home Loan Investor Home Loan categories. 

What home loans do Athena offer?

Rates and fees verified as correct at 20 September, 2021. Other information correct at the time of writing. Advertiser disclosure.

Variable Rate Home Loans

Athena offers both principal & interest as well as interest-only variable home loans for owner occupiers and investors at ultra competitive low rates. Known collectively as 'AcceleRates', Athena's variable rate offers follow an innovative pricing system where borrowers are automatically rolled onto cheaper rates as they pay down their mortgage and their loan-to-value ratio (LVR) decreases. There are three price brands available: <80% LVR ('Liberate'), <70% LVR ('Evaporate') and <60% LVR ('Celebrate'). On this front, Athena stands out from the rest of competition, even receiving two 2020 Mozo Experts Choice Awards for best New Home Loan and best Home Loan Innovation.

Athena's home loans also come with a range of flexible features, including the ability to make free extra repayments and access a fee-free redraw facility. Just bear in mind that its loans are only available for properties in capital cities or major population centres. 

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments  

1.99% p.a.

1.99% p.a.

$0.00

$0

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2.09% p.a.

2.02% p.a.

$0.00

$0

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2.19% p.a.

2.08% p.a.

$0.00

$0

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2.84% p.a.

2.35% p.a.

$0.00

$0

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2.39% p.a.

2.39% p.a.

$0.00

$0

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2.49% p.a.

2.43% p.a.

$0.00

$0

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2.59% p.a.

2.48% p.a.

$0.00

$0

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2.69% p.a.

2.52% p.a.

$0.00

$0

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Athena home loan features in a glance

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Low rates

The one thing most likely to catch your eye is the super low rates on offer, which put Athena Home Loans among the best value home loans in our database. But how can it offer such low rates? For one thing, it doesn’t have the kind of overhead costs the big banks have, meaning it’s able to pass the savings onto customers. It also receives investment funding directly from the Australian superannuation industry.

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Dynamic pricing system

One of Athena's unique features is its pricing system where borrowers are rewarded for paying down their mortgage with lower interest rates. As your LVR decreases and dips below 70% and 60%, Athena automatically places you on more competitive rate tiers. 

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Automatic Rate Match

Driving home its commitment to customer satisfaction, Athena's Automatic Rate Match promises existing customers that they'll always get the same rate as new ones on a like for like loan.

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Minimal fees

One of the big appeals of Athena is how it’s managed to rid home loans of a lot of those pesky upfront and ongoing fees, leaving only a few third party costs to worry about. 

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Easy access

Not only is the application process a breeze, but once you’ve been approved you’ll be able to manage your loan easily from your desktop or phone. The Athena Home Hub provides you with access to your loan, overview of your transaction history, and a convenient way to make payments all in one.

How are Athena home loans rated?

Mozo users have rated Athena home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

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Athena home loans
Overall
Price
Features
Customer service
Convenience
Trust

7 Reviews

Recent Athena home loan reviews

Athena Home Loan
Overall 10/10
Excellent customer service, easy online process!

Athena make the whole process really easy. Their online process is intuitive and allows you to sign everything digitally and upload documents without needing to do anything paper based. They even had someone meet me at work to verify my identification providing even further ease. They also provide ongoing incentives to encourage others to join. At the moment if you use this code ATH-62716 when you apply you get a $350 cash payment. they also continue to drop my interest rate with the market so I am not locked into the price I signed at. I was initially cautious about Athena as they aren't a traditional bank, and it's all done online, but after doing lots of research and starting the process i was very impressed with the customer service and it was easy! I wish i had done it earlier and saved even more on interest. I highly recommend Athena.

Read full review

Athena make the whole process really easy. Their online process is intuitive and allows you to sign everything digitally and upload documents without needing to do anything paper based. They even had someone meet me at work to verify my identification providing even further ease. They also provide ongoing incentives to encourage others to join. At the moment if you use this code ATH-62716 when you apply you get a $350 cash payment. they also continue to drop my interest rate with the market so I am not locked into the price I signed at. I was initially cautious about Athena as they aren't a traditional bank, and it's all done online, but after doing lots of research and starting the process i was very impressed with the customer service and it was easy! I wish i had done it earlier and saved even more on interest. I highly recommend Athena.

Price
10/10
Features
9/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Jason, South Australia, reviewed 24 days ago
Athena AcceleRATES Variable Home Loan
Overall 10/10
Awesome provider, wished I changed lenders earlier

I'm 5 months into my home loan with Athena and the only regret I have is not leaving my previous lender earlier. I'm a single mum and I couldn't be happier with the customer service I received. Athena made it a smooth and quick process. As stated they pass the full rate cut straight away and a bonus surprise that I didn't know about, if you pay more off your loan they give you a bonus rate dropped. Don't waste your time and money with the big banks.

Read full review

I'm 5 months into my home loan with Athena and the only regret I have is not leaving my previous lender earlier. I'm a single mum and I couldn't be happier with the customer service I received. Athena made it a smooth and quick process. As stated they pass the full rate cut straight away and a bonus surprise that I didn't know about, if you pay more off your loan they give you a bonus rate dropped. Don't waste your time and money with the big banks.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Sue, Victoria, reviewed 8 months ago
Athena AcceleRATES Variable Home Loan
Overall 10/10
Great loan provider and best rates by far.

Athena are a fantastic group who have given the best rate and great service. They have consistently dropped the rate when the RBA do it. They are always easy to deal with when I have questions as well.

Read full review

Athena are a fantastic group who have given the best rate and great service. They have consistently dropped the rate when the RBA do it. They are always easy to deal with when I have questions as well.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
8/10
Less
Ryan, New South Wales, reviewed 8 months ago
Athena AcceleRATES Variable Home Loan
Overall 1/10
Waste of time

What an absolute waste of time. I submitted a lengthy application. It cleary stated if you have multiple properties not to worry and it can all be handled via the team when they call you. My call was prompt the following day and apparently due to an IT error I am now supposed to submit 2 more applications for the separate properties answering essentially the same information. Not only this but I now have an enquiry on my credit file. Ill be taking this up with the FIO when i have time. Don't waste your time. I should have realised when i made my first call to the uneducated lady that couldn't assist with basic questions.

Read full review

What an absolute waste of time. I submitted a lengthy application. It cleary stated if you have multiple properties not to worry and it can all be handled via the team when they call you. My call was prompt the following day and apparently due to an IT error I am now supposed to submit 2 more applications for the separate properties answering essentially the same information. Not only this but I now have an enquiry on my credit file. Ill be taking this up with the FIO when i have time. Don't waste your time. I should have realised when i made my first call to the uneducated lady that couldn't assist with basic questions.

Less
Brendan, New South Wales, reviewed 8 months ago
Athena AcceleRATES Variable Home Loan
Overall 9/10
Great no frills home loan with a low variable rate

Great no frills home loan with a very low variable interest rate and good customer service. Matched almost all RBA rate cuts in full. Rates stay the same for new and existing customers. Very good home loan provider.

Read full review

Great no frills home loan with a very low variable interest rate and good customer service. Matched almost all RBA rate cuts in full. Rates stay the same for new and existing customers. Very good home loan provider.

Price
10/10
Features
0/10
Customer service
10/10
Convenience
8/10
Trust
10/10
Less
Peter, Queensland, reviewed over 1 year ago

What do you need to apply for a Athena home loan?

Applying for an Athena home loan online could take as little as 15 minutes, but you'll need a few details ready: 

  • Basic identification details, such as a Driver’s licence, Australian Passport or Medicare card
  • Income and employment details (you’ll have to submit your last two months’ payslips, as well as information about any additional income you might receive, including government payments and rental income)
  • Information on assets (e.g. savings, investments) and liabilities (e.g. credit cards, personal loans) 
  • A rundown of your monthly expenses
  • Your most recent statement for the home loan (if you're refinancing). 

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