Company profile: Australian First Mortgage (AFM)

Australian First Mortgage (AFM) is a wholly Australian-owned business offering competitive residential, commercial and leasing finance to the Australian market. The business is led by two key individuals: David White and Tanya White, both with extensive knowledge in finance and home loans.

In May 2015 the third director, industry legend, Iain Forbes retired. If you are a broker who is keen to promote your own brand, then you would do well to check out our excellent white-label program.

We offer competitive pricing and a certain amount of leeway in determining your upfront and trail incomes. These are a few of our product niches.

1. Complete/ Alliance option

• Discounted rate 80 per cent LVR of 4.50 per cent for pro-pack loans includes an annual fee of $330. Rate discounted further for over $500,000.
• Unlimited free redraw. No application, valuation or legal (conditions apply).
• Complete/Alliance options – commissions of either 0.50 per cent upfront plus 0.25 per cent trail, plus GST or 0.7 per cent upfront and 0.15per cent trail, plus GST.
• In-house DLA up to $1 million. 
• Electronic LMI submission and approval – LMI-only reviewing data.
• Attractive fixed-rate specials, can be sold as 50/50 split further reducing the fixed rate by another 0.15 per cent. Construction available, includes up to three dwellings. Option to pay a fixed rate lock fee of $395. Choose your valuer

2. Flexible option

• 100 per cent offset, construction and fixed rates all available from settlement. $20,000 additional payments allowed on fixed rate loans.
• Up to 95 per cent LVR for owner occupier including LMI with five per cent genuine savings over three months, investment 90 percent plus capped LMI and cannot exceed 95 per cent.
• Choice of mortgage insurers. Bridging finance available; generally requires 60 per cent equity in current property and can be a multiple of properties and owner occupiers or investors or land with servicing based upon end debt.
• Servicing must be 1.20 on ABL calculator above 90 per cent LVR, low doc must be 1.25.
• Line of credit available with full internet capability.

3. Alternate prime

• Up to 95 per cent, including a risk fee that is similar to a LMI premium.
• Non-genuine savings to 95 percent. No credit scoring. Attractive interest rates. No LMI.
• Lenders protection fee only charged when LVR above 80percent, currently waived on new deals up to 85 per cent for a limited time on full-docs and
  70 per cent low-doc.
• Maximum 95 per cent LVR on purchases, inclusive of all fees ie. owner-occupied and investment.
• Maximum 90 per cent LVR for all other loans inclusive of all fees ie. re finances and debt consolidations.
• Maximum 80 per cent LVR on low-doc inclusive of all fees. 

AFM is funded by a select group of Australian banks and wholesale lending institutions including Bendigo and Adelaide Bank, NAB’s Advantedge Financial Services, Resimac and Pepper Home Loans.

The company employs and runs a dedicated team of business development and state sales managers to support, facilitate and train its accredited mortgage brokers. It also employs a national team of credit managers, with, in some instances, combined delegated lending authorities of up to $2 million.

AFM operates from its head office in Homebush, NSW as well as from its national network of fully-fledged branches in Victoria, Queensland, South Australia and Western Australia.

AFM has maintained its high levels of service through theuse of technoloy, solid infrastructure and the recruitment of skilled,industry savvy personnel.

Written by David White, managing director at Australian First Mortgage

Written by Reporter

Last Updated: 09 March 2022

Published: 21 August 2015