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Homestar Star Classic Fixed Home 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%

Choose the version of this loan that suits you best

Availability Loan type LVR Min loan amount Max loan amount
Owner Occupier Principal & Interest 70%-80% $150,000 $1,000,000
Owner Occupier Interest Only 70%-80% $150,000 $1,000,000
  • Owner Occupier (Principal & Interest)
    LVR 70%-80%
    Loan: $150,000 $1,000,000
  • Owner Occupier (Interest Only)
    LVR 70%-80%
    Loan: $150,000 $1,000,000
Fixed 3 year rate
6.95% p.a.
Comparison Rate
6.73% p.a.
Service fee
$395.00 yearly
Upfront fee
$395
Fixed 3 year rate
7.35% p.a.
Comparison Rate
7.13% p.a.
Service fee
$395.00 yearly
Upfront fee
$395

Mozo editorial review Homestar Star Classic Fixed Home Loan - last updated: 1 February 2024

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What's hot
  • 6.95% p.a. (6.90% p.a. comparison rate*) for a 3-year fixed P&I owner occupier loan (80% LVR)
  • Free extra repayments up to $20,000 p.a.
  • Offset account available
What's not
  • $395 settlement fee
Mozo snapshot

Homestar’s Star Classic option offers a wide range of features to go with its competitive fixed rates. Owner occupiers will be able to take advantage of an offset account, the ability to make extra repayments, and a free redraw facility. Just keep in mind that there are a few fees and limits on how the features can be used.

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Key features

Loan amounts on Homestar’s Star Classic option range from $150,000 to $1 million, with 3-year fixed rates sitting at 6.95% p.a. (6.90% p.a. comparison rate*) for a 3-year fixed P&I owner occupier loan (80% LVR). You’ll also have the flexibility to make up to $20,000 in extra repayments per year, and split your loan to take advantage of the features that typically come with a variable rate.

The redraw facility can come in handy if you decide the extra repayments you’ve made would be better served back in your pocket. Just keep in mind that the maximum amount you’ll be able to retrieve is $20,000 per year. And for those that want to put their savings to good use, an offset account is available to help you reduce the amount of interest charged on the loan. The amount you can contribute, however, is capped at $20,000 per year. 


snapshot
Who is it good for

This offer from Homestar could be a good pick for those who want to lock in a competitive rate but don't want to be too limited in the amount of extra repayments they can make.

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Any catches

With this loan there is a $395 settlement fee, a $595 discharge fee (which will be waived if the loan goes to full term). There's also an optional $495 rate lock fee on fixed loans.

Details

Rates and fees information correct as at 16 July 2024. 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

6.95% (6.57%*)

6.95% (6.65%*)

6.95% (6.73%*)

6.95% (6.80%*)

6.95% (6.86%*)

n/a

n/a

6.09% p.a.

Fees

$0.00

$0.00

n/a

$395.00

n/a

$395.00 yearly

$595.00

Other financial bits

$150,000

$1,000,000

70.00%

80.00%

Features

Weekly, Fortnightly, Monthly

yes - up to $20,000 p.a

no

yes - free

$0.00

yes

yes

none

$535 discharge fee waived if the loan goes to full term. Valuation fee waived for properties up to $1m. $66.33 PEXA fee applies.

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 16 July 2024. 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

7.35% (6.97%*)

7.35% (7.05%*)

7.35% (7.13%*)

7.35% (7.20%*)

7.35% (7.26%*)

n/a

n/a

6.49% p.a.

Fees

$0.00

$0.00

n/a

$395.00

n/a

$395.00 yearly

$595.00

Other financial bits

$150,000

$1,000,000

70.00%

80.00%

Features

Monthly

yes - up to $20,000 p.a

no

yes - free

$0.00

yes

yes

none

$535 discharge fee waived if the loan goes to full term. Valuation fee waived for properties up to $1m. $66.33 PEXA fee applies.

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
5.5/10
Price
7.4/10
Features
5.9/10
Customer service
5.4/10
Convenience
5.0/10
Trust
5.4/10
Based on 39 Homestar home loan reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Latest reviews of Homestar Star Classic Fixed Home Loan

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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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