Homestar home loans

Homestar
Homestar's overall rating for home loans

(as rated by the Mozo community)

3.5 / 10

based on 2 reviews

Homestar is not a bank, let’s get that out of the way upfront. It doesn’t have branches, pens chained to desks or a big safe in the back. What it does have, is a range of great home loans at the kind of awesome low rates that online, non-bank lenders are able to offer their customers.

In 2016, Homestar took home Mozo Experts Choice Awards in a bunch of categories, including Best Value Variable Home Loan, Best Value Offset Home Loan, Best Value First Home Loan and Best Value Variable Investor 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 06 December, 2016. Other information correct at the time of writing.

What home loans do Homestar offer?

Fixed Rate Home Loans Fixed Rate Home Loans

Opt for a fixed rate home loan from Homestar, and you’ll be able to get your hands on anywhere from $50,000 to $1,000,000, up to 85% of the value of the property you’re buying. Make sure you leave room in your budget for the application fee, plus 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 $10,000 p.a. and the use of a partial 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.

Home loan repayments calculator
years
Product Fixed 3 year rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

4.15% p.a.

4.11% p.a.

$0.00

$495

3.95% p.a.

3.65% p.a.

$0.00

$495


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Variable Rate Home Loans Variable Rate Home Loans

There are a couple of different variable rate mortgage options from Homestar. If you already have a loan and want to avoid the application fee, you can opt for the Basic Refinance home loan, for amounts up to $500,000, with a 30% deposit or more. But keep in mind, legal and valuation fees apply to all Homestar home loans. All the variable rate offers also come with great features like unlimited free extra repayments and free online redraws to help you pay off your mortgage faster. Choose a Homestar Owner Occupier Loan or Variable Rate Loan and you’ll be able to borrow up to 95% of the property’s value for owner occupiers or 85% for investors, up to $1,000,000 - but you will pay an application fee. The Variable Rate Loan also comes with the use of a full offset account to help keep interest costs low.

Home loan repayments calculator
years
Product Rate Comparison Rate* Service fee Upfront fee Monthly repayments ‡

3.36% p.a.

3.40% p.a.

$0.00

$0

3.44% p.a.

3.49% p.a.

$0.00

$495

3.83% p.a.

3.87% p.a.

$0.00

$495

3.48% p.a.

3.53% p.a.

$0.00

$495


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Homestar home loan features in a glance

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 $10,000 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 the Variable Rate Loan from Homestar, and you’ll get the use of a full offset account to help keep your mortgage as affordable as possible. Choose the fixed rate alternative, and you’ll still have use of a partial offset account.

How are Homestar home loans rated?

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.

Homestar home loans

Overall 3.5*

Price

Features

Customer service

Convenience

Trust

2 Reviews

* Overall rating based on reviews in the past 12 months.

Recent Homestar home loan reviews Recent Homestar home loan reviews

Homestar

Homestar Owner Occupier Loan (LVR<85%, Principal & Interest) home loan review

Overall rating   6 / 10

Competitive loans, process too long, good staff

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...

Full review

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.

    Price   6 / 10

    Features   5 / 10

    Customer service   4 / 10

    Convenience   4 / 10

    Trust   8 / 10

Less

Jonathan (VIC), reviewed about 1 year ago

Homestar

Homestar home loan review

Overall rating   2 / 10

The interest rate on their website is for NEW loans only. When interest rates drop they DO NOT PASS ON THE WHOLE cut. The interest rate for existing mortgage holders is actually higher than is quoted on the site.

Full review

The interest rate on their website is for NEW loans only. When interest rates drop they DO NOT PASS ON THE WHOLE cut. The interest rate for existing mortgage holders is actually higher than is quoted on the site.

    Price   5 / 10

    Features   3 / 10

    Customer service   3 / 10

    Convenience   2 / 10

    Trust   1 / 10

Less

John (NSW), reviewed almost 5 years ago

Homestar

Homestar home loan review

Overall rating   9 / 10

Our home loan application was handled quickly, professionally in a friendly manner. Also Homestar was competiive with the other home loan company we were considering. We were kept up to date and in the loop with all the dealings between the...

Full review

Our home loan application was handled quickly, professionally in a friendly manner. Also Homestar was competiive with the other home loan company we were considering. We were kept up to date and in the loop with all the dealings between the builder, settlement agent and Homestar. I never had to chase them up. Very happy with the service we have received!

    Price   9 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   10 / 10

Less

Michelle (WA), reviewed over 5 years ago

Homestar

Homestar home loan review

Overall rating   9 / 10

Excellent personal service and there are plenty of options to choose and assistance in getting the application into a first time lodgement.

Full review

Excellent personal service and there are plenty of options to choose and assistance in getting the application into a first time lodgement.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   -1 / 10

Less

Anthony (VIC), reviewed over 5 years ago

Homestar

Homestar home loan review

Overall rating   0 / 10

Are you guys crazy? Do you even check the Variable rate you pay on your Homestar loans compared to the advertised rate on their Website?? The positive reviews below all from Feb/Mar11 must be from a Homestar employee... These guys are not to be...

Full review

Are you guys crazy? Do you even check the Variable rate you pay on your Homestar loans compared to the advertised rate on their Website?? The positive reviews below all from Feb/Mar11 must be from a Homestar employee... These guys are not to be trusted.

    Price   2 / 10

    Features   2 / 10

    Customer service   2 / 10

    Convenience   1 / 10

    Trust   0 / 10

Less

Marc (NSW), reviewed over 5 years ago

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Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

‡ 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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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

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:

  • Your income
  • Current debts and loans
  • Available credit limits (e.g. from credit cards)
  • How much you would like to borrow
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