Homestar Finance is a non-bank lender which has been lending to thousands of Aussies since 2004. As an online lender, Homestar doesn’t have branches, which means lower overhead costs. Those savings are then passed onto borrowers, in the form of competitive rates and flexible loan options.
Homestar is also an award winner, taking out three 2019 Mozo Experts Choice Awards for best Investor Home Loan, best Low Cost Home Loan and best Offset Home Loan. So whether you’re a first home buyer or a seasoned investor, you’ll find a stellar mortgage deal at Homestar.
Rates and fees verified as correct at 27 February, 2020. Other information correct at the time of writing.
Opt for a fixed rate home loan from Homestar, and you’ll be able to get your hands on anywhere from $150,000 to $1,000,000, up to 90% of the value of the property you’re buying. Make sure you leave room in your budget for the valuation and legal fees. But what makes up for these fees is the great range of flexible features on offer, like fee-free extra repayments up to $20,000 p.a. and the use of the 100% offset account. To tailor your loan to your needs, you can choose between a weekly, fortnightly or monthly repayment schedule, and you can also split your mortgage between a fixed and variable rate to get the best of both worlds.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 3.79% p.a. | 3.54% p.a. | $0.00 | $512 | ||
| 3.99% p.a. | 3.74% p.a. | $0.00 | $512 | ||
| 3.54% p.a. | 3.29% p.a. | $0.00 | $512 | ||
| 3.74% p.a. | 3.49% p.a. | $0.00 | $512 | ||
| 3.64% p.a. | 3.39% p.a. | $0.00 | $512 | ||
| 3.44% p.a. | 3.19% p.a. | $0.00 | $512 | ||
| 3.39% p.a. | 3.14% p.a. | $0.00 | $512 | ||
| 3.19% p.a. | 2.94% p.a. | $0.00 | $512 |
There are a couple of different variable rate mortgage options available from Homestar, which all come with legal and valuation fees - but the good news is no application fees apply. With the variable rate offers you'll enjoy some great features like unlimited free extra repayments and free online redraws to help you pay off your mortgage faster. Plus, you'll also gain access to a full offset account to help keep interest costs low.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ | |
|---|---|---|---|---|---|---|
| 2.99% p.a. | 3.43% p.a. | $395.00 yearly | $512 | |||
| 2.94% p.a. | 2.99% p.a. | $0.00 | $512 | |||
| 2.74% p.a. | 2.77% p.a. | $0.00 | $512 | Go to site | ||
| 2.69% p.a. | 2.72% p.a. | $0.00 | $512 | Go to site | ||
| 3.39% p.a. | 3.44% p.a. | $0.00 | $512 | |||
| 3.59% p.a. | 3.64% p.a. | $0.00 | $512 | |||
| 3.14% p.a. | 3.19% p.a. | $0.00 | $512 | |||
| 3.34% p.a. | 3.39% p.a. | $0.00 | $512 | |||
| 3.04% p.a. | 3.09% p.a. | $0.00 | $512 | |||
| 3.24% p.a. | 3.29% p.a. | $0.00 | $512 | |||
| 2.99% p.a. | 3.04% p.a. | $0.00 | $512 | |||
| 3.64% p.a. | 3.69% p.a. | $0.00 | $512 | |||
| 3.84% p.a. | 3.89% p.a. | $0.00 | $512 | |||
| 3.39% p.a. | 3.44% p.a. | $0.00 | $512 | |||
| 3.59% p.a. | 3.64% p.a. | $0.00 | $512 | |||
| 3.29% p.a. | 3.34% p.a. | $0.00 | $512 | |||
| 3.49% p.a. | 3.54% p.a. | $0.00 | $512 | |||
| 3.04% p.a. | 3.09% p.a. | $0.00 | $512 | |||
| 3.24% p.a. | 3.29% p.a. | $0.00 | $512 | |||
| 2.79% p.a. | 2.84% p.a. | $0.00 | $512 | |||
| 3.39% p.a. | 3.44% p.a. | $0.00 | $512 | |||
| 3.59% p.a. | 3.64% p.a. | $0.00 | $512 | |||
| 3.14% p.a. | 3.19% p.a. | $0.00 | $512 | |||
| 3.34% p.a. | 3.39% p.a. | $0.00 | $512 | |||
| 3.19% p.a. | 3.24% p.a. | $0.00 | $512 | |||
| 2.99% p.a. | 3.04% p.a. | $0.00 | $512 | |||
| 2.94% p.a. | 2.99% p.a. | $0.00 | $512 | |||
| 2.74% p.a. | 2.77% p.a. | $0.00 | $512 |
‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
| Repayment flexibilityRepayment flexibility | Get the timing right on your mortgage by choosing a monthly, fortnightly or weekly repayment schedule. |
| Extra repaymentsExtra repayments | Pay off your Homestar mortgage sooner by making fee-free extra repayments. Just remember that while these additional repayments are unlimited on variable rate options, they’ll be capped at $20,000 p.a. for fixed rate home loans. |
| Split rate optionSplit rate option | Can’t decide between the certainty of a fixed rate and the flexibility of a variable one? Why not split your Homestar home loan and have both? |
| Offset accountOffset account | Opt for a Variable Rate Loan from Homestar, and you'll get full use of a 100% offset account to help keep your mortgage as affordable as possible. |
So there’s all the facts and figures you need to know about a Homestar home loan. Now for a more personal approach, visit our customer review section and find out if current borrowers would award Homestar a gold star for things like customer service, trust and convenience.
Did my research, Homestar are the cheapest loan provider. Made the admin process as easy as possible. I never write a review but when I am this impressed with the overall benefit to me and bang for my buck, I think people should know!
Did my research, Homestar are the cheapest loan provider. Made the admin process as easy as possible. I never write a review but when I am this impressed with the overall benefit to me and bang for my buck, I think people should know!
Robert, New South Wales, reviewed 3 months ago
Homestar is fantastic for low rates. I have never seen better. The only downside is that being a non-bank lender, and perhaps to maintain their cheap rates, their internet banking interface is very basic, and there is no app. This took a bit to...
Homestar is fantastic for low rates. I have never seen better. The only downside is that being a non-bank lender, and perhaps to maintain their cheap rates, their internet banking interface is very basic, and there is no app. This took a bit to get used to, but that's a small adjustment for a great value product.
Rebecca, Western Australia, reviewed 4 months ago
I was referred to by a friend who refinanced her loan with Homestar. I didn’t know too much about them but I experienced excellent service from their Sales specialist who walked me through the application process without the hard sell. They...
I was referred to by a friend who refinanced her loan with Homestar. I didn’t know too much about them but I experienced excellent service from their Sales specialist who walked me through the application process without the hard sell. They answered all the questions I had and were able to assist with explaining any concerns I had since this was my first purchase. Their current internet banking is a bit outdated, but I was told that it would be updated in the next few months, which is something important to me because I like to see where my finances are at anytime. Lastly, I’m happy with my rate and the fact that they passed on the recent RBA cut was music to my ears. Thanks for your support Homestar and I hope this level of service continues!
Kimberley, New South Wales, reviewed 4 months ago
Here are the pros for Homestar. They have one of the most competitive interest rates going around and have been passing on the full RBA cut, usually announced on the same day, which is very impressive. Their friendly, helpful, and responsive loan...
Here are the pros for Homestar. They have one of the most competitive interest rates going around and have been passing on the full RBA cut, usually announced on the same day, which is very impressive. Their friendly, helpful, and responsive loan manager assisted us through the sign up process with no issues. Call centre staff were polite and helpful when I called up after settlement for assistance Here are the cons for Homestar. Their website is very basic, lacks essential features such as updating your contact details which you need to call up to do. It made it difficult chasing up a missing letter which went to an incorrect address. The website is also slow when clicking buttons, there often is a considerable wait before the next page shows up. Their is no mobile app available which really should be a given I would recommend Homestar to friends and family as the rates are competitive and they are aggressive in maintaining their low rates by passing on all the RBA rate cuts in full which is impressive, no fluffing around. I do find the website extremely frustrating as it is slow and lacks basic features. Even though they provide you with a debit card, I would not consider using Homestar as my day to day banking with the website in its current state.
Basil, New South Wales, reviewed 4 months ago
I switched from ING to Homestar in 2012. I've topped up home loans, then sold my house and re-applied for a new loan with Homestar in that time. The front line staff are really very good: personable, one-on-one service and you're dealing with...
I switched from ING to Homestar in 2012. I've topped up home loans, then sold my house and re-applied for a new loan with Homestar in that time. The front line staff are really very good: personable, one-on-one service and you're dealing with people not 'the machine'. This side of their business is an asset. However, their processes have taken several weeks at times – one re-finance was seven weeks from start to finish –and this obviously plays against them. My last application was a little speedier but the process for submitting paperwork was very sketchy and I often needed to send it 2 or 3 times. However: the bottom line is their pricing when it comes to interest rates is pretty competitive: we have a low fixed rate, and a variable split (which is good right now) that we can fix if need be.
Jonathan, Victoria, reviewed over 4 years ago
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If you’ve decided a Homestar home loan is the one for you, then it's time to pick up the phone. There are no brick and mortar branches to visit and no online application, so over the phone it is. Either you can give them a call, or enquire online and have them call you back.
Before you dial, make sure you have a few details handy, including:
