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
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 80% | $150,000 | $1,000,000 |
| | Owner Occupier | Interest Only | < 80% | $150,000 | $1,000,000 |
| | Investor | Principal & Interest | < 80% | $150,000 | $849,999 |
| | Investor | Interest Only | < 80% | $150,000 | $849,999 |
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
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.
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).
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.
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.n/a
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2.44% (2.31%*)
2.44% (2.32%*)
2.44% (2.34%*)
n/a
n/a
n/a
n/a
2.24% p.a.
$0.00
$264.00
$251.35
$0.00
n/a
$0.00
$535.00
$150,000
$1,000,000
none
80.00%
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.
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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.
$0.00
$264.00
$251.35
$0.00
n/a
$0.00
$535.00
$150,000
$1,000,000
none
80.00%
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.
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.
$0.00
$264.00
$251.35
$0.00
n/a
$0.00
$535.00
$150,000
$849,999
none
80.00%
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.
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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.
$0.00
$264.00
$251.35
$0.00
n/a
$0.00
$535.00
$150,000
$849,999
none
80.00%
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.
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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Smart Booster Home Loan
1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
Homestar
Star Gold Home Loan
1.79% p.a.
1.84% p.a.
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n/a
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fixed 3 years
3.62% p.a.
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1.89% p.a.
fixed 3 years
3.03% p.a.
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.
