flagFounded: Founded in 2003, merged with NMC in 2015

businessOwned by: NMC

monetization_onFunded by: Adelaide Bank, Advantedge (NAB), Resimac and Pepper Home Loans

securityLMI Provider: Genworth, QBE and some self-insured products

account_balanceLender type: Non-Bank, Mortgage Manager

Australian First Mortgage is not an available lender on our panel. This is a review only. As of March 2015, they have merged with National Mortgage Company.

Australian First Mortgage (AFM) is a mid-size non-bank lender with four funding sources. The combination of having several funders allows them to offer competitive interest rates along with a broad range of home loans that suit most borrowers.

AFM’s management and credit teams are recognised as industry leaders which made them a popular choice for customers who apply through a mortgage broker.

The 2015 acquisition of AFM by their former competitor NMC has also made them even more formidable due to their larger scale and use of NMC’s renowned operations team in the Gold Coast. That means that they can reliably give quick loan approvals even if they have a competitive special offer which would usually swamp other small lenders.

How do AFM’s home loans compare?



What home loans types do they have?

AFM has a home loan to suit almost every borrower. This includes 95% home loans for people with small deposits, fixed rates for people who want security, reduced rate no-frills investor loans, commercial loans, low doc loans and even non-conforming loans for people with a bad credit history.

Tips for applying with AFM

The best way to choose the right loan from AFM is to use a mortgage broker.

In particular AFM is well known by mortgage brokers in their home state of NSW. A good mortgage broker will be able to match your needs to the right mortgage without you having to sift through the complexity of four funder’s different loan products.

Use AFM’s application form to prepare for your home loan application.

Note: This is the latest home loan checklist as at December 2020. Please refer to AFM for their most up-to-date document requirements.

AFM client story

Ruth &Christian, NSW


To buy first home (an apartment unit).


Off the plan, high-density unit, first home buyer, low deposit.


After a few years, newly-engaged couple Ruth and Christian had carved out a career for themselves in the IT industry and were earning great incomes.

Although they had only saved around $35,000 as a deposit, they could rely on the NSW government’s $15,000 first home buyers grant (FHOG) to give them a total deposit of around $50,000.

Base on their income and loan amount, they were pre-approved for a home loan and soon found a beautiful off the plan unit in an inner city Sydney suburb that fit with their lifestyle needs.

Despite getting pre-approval for the amount they needed to purchase the property ($575,000), their lender wouldn’t accept their unit because it was off the plan and located in a high density apartment block.


The couple were borrowing at 95% of the property value (Loan to Value Ratio) and even if they were to come up with another 5% to put towards the purchase, their loan would still be declined by a number of lenders.

Their mortgage broker was able to get them approved with AFM because they can leverage the lending policies of four funders and had no problem with the property being off the plan or in a high density postcode.

Compare AFM to other lenders

Not sure which lender is right for you? Our Home Loan Experts can help!

Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.