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Homestar Fixed Rate Loan

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $1,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a interest only loan between $150,000 and $1,000,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $150,000 and $849,999 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan between $150,000 and $849,999 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $150,000 $1,000,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $150,000 $1,000,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $150,000 $849,999

  • Investor (Interest Only)

    LVR < 80%

    Loan: $150,000 $849,999

Fixed 3 year rate
2.44% p.a.
Comparison Rate
2.34% p.a.
Service fee
$0.00
Upfront fee
$515
Fixed 3 year rate
2.64% p.a.
Comparison Rate
2.54% p.a.
Service fee
$0.00
Upfront fee
$515
Fixed 3 year rate
2.64% p.a.
Comparison Rate
2.54% p.a.
Service fee
$0.00
Upfront fee
$515
Fixed 3 year rate
2.84% p.a.
Comparison Rate
2.74% p.a.
Service fee
$0.00
Upfront fee
$515

Mozo editorial review Homestar Fixed Rate Loan

Last updated: 29 January 2021.

binocular icon
What's hot
  • Low 1-year fixed rate of 1.90% (2.37% comparison rate*) for <75% LVR
  • Make free extra repayments - up to $20,000 per year
  • No application or ongoing service fees
What's not
  • $515.35 in upfront fees (legal and valuation)
  • 25% deposit required to snag the best rates
Mozo snapshot

Looking to buy a new property or refinance to a cheaper home loan? If you want the certainty of fixed repayments while still having some flexible options under your belt, the Homestar Fixed Rate could offer the best of both worlds.

Owner occupiers with a 25% deposit or more will be able to snag ultra competitive rates below 2%, given that they’re borrowing between $150,000 and $850,000. You’ll also have a split account and the ability to make free extra repayments (up to $20,000 p.a.) at your disposal.


key icon
Key features

With the Homestar Fixed Rate Loan, your interest rate will depend on a number of factors including your loan term, your loan amount, your deposit, and whether you’re an owner occupier or an investor.

To grab the lowest rate on offer, you’ll need to be an owner occupier with at least a 25% deposit saved up, making principal and interest repayments and borrowing between $150,000-$849,999. If you fit that description, then your 1-year fixed rate starts from just 1.90% (2.37% comparison rate*) while your 3-year fixed rate could be as low as 1.95% (2.35% comparison rate*).

Otherwise, your rate jumps to 2.79% (2.56% and 2.61% comparison rates*) for 1-year and 3-year terms, if you’re borrowing between $850,000-$1 million and have a smaller 20% deposit.

As for flexible features, Homestar Fixed Rate Loan customers have the opportunity to split their loan into fixed and variable rates. They can also match their repayments to their pay cycle, whether that’s weekly, fortnightly or monthly, and make extra repayments up to $20,000 a year without being penalised. Just be mindful that you won’t be able to access those additional repayments later on, as there’s no redraw facility attached to this loan.

Unlike many other fixed home loans, the revert rates for the Homestar Fixed Rate Loan are actually lower than its fixed rates in most cases. For instance, for owner occupiers with LVRs up to 80%, the revert rate sits 30 basis points below the 1 to 3-year fixed rates, at just 2.49%. The one exception is the offer for owner occupiers with LVRs below 75%, where the revert rate jumps to a still fairly competitive 2.39% once your fixed term ends.

Finally let’s talk about fees. While the good news is there are zero application or ongoing service fees that come with the Homestar Fixed Rate Loan, you will need to budget for a $264 legal fee, $251.35 valuation fee and a $535 discharge fee (although this last fee is waived if your loan goes to the full term). 


snapshot
Who is it good for

This home loan suits borrowers looking to fix their rate for the short-term without having to compromise on all the bells and whistles. As the best rates that start with ‘1’ are offered to owner occupiers who can afford at least 25% of their property, it may also be a better option for homebuyers who have saved up a larger deposit or refinancers who’ve built a decent amount of equity in their home.


question icon
Any catches

There are a few fees to factor in with the Homestar Fixed Rate Loan, including about $515.35 in upfront fees and a $535 discharge fee if you decide to refinance before your term is over. 

Also beware that the revert rate could be higher or lower than the fixed rate, depending on what type of borrower you are. If you aren’t happy with the revert rate, be sure to shop around for your next home loan before the fixed term concludes. 


Details

Rates and fees information correct as at 11 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 2.44% (2.31%*)

  • 2.44% (2.32%*)

  • 2.44% (2.34%*)

  • n/a

  • n/a

  • n/a

  • n/a

  • 2.24% p.a.

Fees
  • $0.00

  • $264.00

  • $251.35

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $150,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - up to $20,000 p.a

  • no

  • no

  • none

  • yes

  • no

  • none

  • $535 discharge fee waived if the loan goes to full term.

  • none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 11 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 2.64% (2.51%*)

  • 2.64% (2.52%*)

  • 2.64% (2.54%*)

  • n/a

  • n/a

  • n/a

  • n/a

  • 2.44% p.a.

Fees
  • $0.00

  • $264.00

  • $251.35

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $150,000

  • $1,000,000

  • none

  • 80.00%

Features
  • Monthly

  • yes - up to $20,000 p.a

  • no

  • no

  • none

  • yes

  • no

  • none

  • $535 discharge fee waived if the loan goes to full term.

  • none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 11 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 2.64% (2.51%*)

  • 2.64% (2.52%*)

  • 2.64% (2.54%*)

  • n/a

  • n/a

  • n/a

  • n/a

  • 2.44% p.a.

Fees
  • $0.00

  • $264.00

  • $251.35

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $150,000

  • $849,999

  • none

  • 80.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - up to $20,000 p.a

  • no

  • no

  • none

  • yes

  • no

  • none

  • $535 discharge fee waived if the loan goes to full term.

  • none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 11 April 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 2.84% (2.70%*)

  • 2.84% (2.72%*)

  • 2.84% (2.74%*)

  • n/a

  • n/a

  • n/a

  • n/a

  • 2.64% p.a.

Fees
  • $0.00

  • $264.00

  • $251.35

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $150,000

  • $849,999

  • none

  • 80.00%

Features
  • Monthly

  • yes - up to $20,000 p.a

  • no

  • no

  • none

  • yes

  • no

  • none

  • $535 discharge fee waived if the loan goes to full term.

  • none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Customer Reviews

How are Homestar home loans rated by the Mozo community?

Overall
5.8/10
Price
7.1/10
Features
6.1/10
Customer service
6.0/10
Convenience
5.4/10
Trust
5.6/10
Thumbnail icon for Homestar

About Homestar

Homestar is a Sydney and Melbourne based company that offers home loans Australia wide, due to Homestar being a web and phone based non-bank lender that works to save you money. Homestar has been providing low rates on its home loans since 2004.

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