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 16 July, 2019. 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 ‡ |
|---|---|---|---|---|---|
| 4.04% p.a. | 3.79% p.a. | $0.00 | $512 | ||
| 4.24% p.a. | 3.99% p.a. | $0.00 | $512 | ||
| 3.79% p.a. | 3.54% p.a. | $0.00 | $512 | ||
| 3.99% p.a. | 3.74% p.a. | $0.00 | $512 | ||
| 3.89% p.a. | 3.64% p.a. | $0.00 | $512 | ||
| 3.69% p.a. | 3.44% 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 |
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 ‡ |
|---|---|---|---|---|---|
| 3.19% p.a. | 3.20% p.a. | $0.00 | $0 | ||
| 2.99% p.a. | 3.02% p.a. | $0.00 | $596 | ||
| 2.99% p.a. | 2.99% p.a. | $0.00 | $0 | ||
| 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 | ||
| 3.24% p.a. | 3.29% p.a. | $0.00 | $512 | ||
| 3.89% p.a. | 3.94% p.a. | $0.00 | $512 | ||
| 4.09% p.a. | 4.14% 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 | ||
| 3.54% p.a. | 3.59% p.a. | $0.00 | $512 | ||
| 3.74% p.a. | 3.79% 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 | ||
| 3.64% 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 | ||
| 3.44% p.a. | 3.49% p.a. | $0.00 | $512 | ||
| 3.24% p.a. | 3.29% p.a. | $0.00 | $512 | ||
| 3.19% p.a. | 3.24% p.a. | $0.00 | $512 | ||
| 2.99% p.a. | 3.02% 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.
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 3 years ago
Terrible customer service. Treated their customers like criminals. They don't seem to want or work hard to get your business. They believe you need them and not the other way. Would not recommend or go near these people
Terrible customer service. Treated their customers like criminals. They don't seem to want or work hard to get your business. They believe you need them and not the other way. Would not recommend or go near these people
Odgen, New South Wales, reviewed almost 4 years ago
Dear Odgen
We take customer service very seriously at Homestar Finance and we are apologetic that our customer service did not meet your expectations. Feel free to contact us at 1300 182 600 and we will gladly look into the matter at hand.
Regards,
Homestar
FALSE and MISLEADING mortgage rates on the Advantage home loan. The rate on their website is not what existing customers will be paying. BE CAUTIOUS PEOPLE !!
FALSE and MISLEADING mortgage rates on the Advantage home loan. The rate on their website is not what existing customers will be paying. BE CAUTIOUS PEOPLE !!
John, Victoria, reviewed about 7 years ago
Their advertised rate is just to suck you in. My actual rate is 0.5% higher. The real rate is always higher. They are dishonest lenders. Go elsewhere!
Their advertised rate is just to suck you in. My actual rate is 0.5% higher. The real rate is always higher. They are dishonest lenders. Go elsewhere!
Bruce, Queensland, reviewed about 7 years ago
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.
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.
John, New South Wales, reviewed over 7 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:
