Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
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Owner Occupier | Principal & Interest | < 70% | $150,000 | $1,000,000 |
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Owner Occupier | Principal & Interest | 70%-80% | $150,000 | $1,000,000 |
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Owner Occupier | Principal & Interest | < 90% | $150,000 | $1,000,000 |
Is a low variable rate at the top of your home loan wish list? If so, the Star Classic Home Loan from Homestar with its super low 6.25% p.a. variable interest rate (6.28% p.a. comparison rate*) for <70% LVR should be on your radar. The loan even comes with handy features such as free extra repayments, a free online redraw facility and even a 100% offset account.
The Star Classic Home Loan has a competitive variable home loan rate available to owner occupiers. Borrowers wanting to take out a loan between $150,000 and $800,000 and willing to make principal and interest repayments will be able to snag a variable rate of just 6.25% p.a. (6.28% p.a. comparison rate*) for an LVR of <70%.
In addition to the low rate, the loan also comes with a few useful features for borrowers looking for some extra loan flexibility. Mortgage holders can make free extra repayments to pay off their loan faster, dip into those additional payments via the online redraw facility and choose whether they want to make repayments on a weekly, fortnightly or monthly schedule. There’s even an offset account!
Borrowers won’t need to worry about forking out a monthly or annual service fee or an application fee, but
Keep in mind that this loan comes with a $395 settlement fee and a $595 discharge fee to consider (unless the loan is taken to term).
Given the low rate, relatively few fees and selection of features, Homestar’s Star Classic Home Loan could be a worthy option for both new home buyers or borrowers looking to refinance.
While the Star Classic Home Loan has a lot of positives, it’s only available to owner occupiers willing to make principal and interest repayments with an LVR below 90%. That means investors, or owner occupiers wanting to make interest-only repayments will need to look elsewhere.
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6.25% p.a. |
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n/a |
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n/a |
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n/a |
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6.28% p.a. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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$0.00 |
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n/a |
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$395.00 |
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n/a |
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$0.00 |
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$595.00 |
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$150,000 |
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$1,000,000 |
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none |
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70.00% |
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Owner Occupier |
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Principal & Interest |
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Weekly, Fortnightly, Monthly |
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yes - free |
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no |
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yes - free |
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$0.00 |
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yes |
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yes |
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none |
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$535 discharge fee waived if the loan goes to full term. Valuation fee waived for properties up to $1m. $66.33 PEXA fee applies. |
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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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6.35% p.a. |
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n/a |
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n/a |
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n/a |
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6.38% p.a. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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$0.00 |
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n/a |
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$395.00 |
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n/a |
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$0.00 |
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$595.00 |
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$150,000 |
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$1,000,000 |
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70.00% |
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80.00% |
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Owner Occupier |
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Principal & Interest |
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Weekly, Fortnightly, Monthly |
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yes - free |
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no |
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yes - free |
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$0.00 |
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yes |
|
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yes |
|
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none |
|
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$535 discharge fee waived if the loan goes to full term. Valuation fee waived for properties up to $1m. $66.33 PEXA fee applies. |
|
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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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6.80% p.a. |
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n/a |
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n/a |
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n/a |
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6.83% p.a. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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$0.00 |
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n/a |
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$395.00 |
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n/a |
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$0.00 |
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$595.00 |
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$150,000 |
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$1,000,000 |
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none |
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90.00% |
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Owner Occupier |
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Principal & Interest |
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Weekly, Fortnightly, Monthly |
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yes - free |
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no |
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yes - free |
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$0.00 |
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yes |
|
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yes |
|
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none |
|
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$535 discharge fee waived if the loan goes to full term. Valuation fee waived for properties up to $1m. $66.33 PEXA fee applies. |
|
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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.
I've only been a customer for 18 months but already my rate is higher than the one they offer new customers. Its no introductory offer its just once you sign up your individual variable rate is put up above what they offer. I've contacted the bank but no response. Regretful decision changing to the them.
Read full reviewI've only been a customer for 18 months but already my rate is higher than the one they offer new customers. Its no introductory offer its just once you sign up your individual variable rate is put up above what they offer. I've contacted the bank but no response. Regretful decision changing to the them.
I applied for a home loan through Homestar based on their reviews on customer service. I had nothing but the worst customer service experience. I was called dyslexic and asked to have my "boyfriend" pay part of the settlement figures even though my loan would cover it. I applied for a loan for a land and home build. I required an extension on financing as Homestar informed me that a loan for a build would take longer. An extension was granted based on how long Homestar told me they needed. I called three days before financing was due to ensure everything was on track. I was told it was. Come the day of financing, I was told they needed one more day as my expenses were over by $80 per month. This was despite the fact I had pre-approval based on the expenses (-$80 a month) and had since had a $2500 a year pay rise. I was also told that the evaluation was delayed as they wrote the wrong address. There was never an apology. I asked for an extension and it was refused. All my hard work to get this home was gone. Luckily the builder managed to get the land seller to change their mind. The day before settlement, the amount for settlement came through and Homestar were going to contribute a lot less than what I expected. I had paid 5% to the builder but they did not take this into account. When I asked them to explain the amount they were paying towards settling the land I was told "I can't believe you would ask me that question, you should know the terms of your loan" and "there's no way you will settle tomorrow if you make changes". The change was very easy and straightforward in the end. I hope that I can eventually be proven wrong and they can improve their customer service. I would hate for anyone else to be spoken to and treated the way I was. I am not usually one to complain but I have had no luck solving this with Homestar.
Read full reviewI applied for a home loan through Homestar based on their reviews on customer service. I had nothing but the worst customer service experience. I was called dyslexic and asked to have my "boyfriend" pay part of the settlement figures even though my loan would cover it. I applied for a loan for a land and home build. I required an extension on financing as Homestar informed me that a loan for a build would take longer. An extension was granted based on how long Homestar told me they needed. I called three days before financing was due to ensure everything was on track. I was told it was. Come the day of financing, I was told they needed one more day as my expenses were over by $80 per month. This was despite the fact I had pre-approval based on the expenses (-$80 a month) and had since had a $2500 a year pay rise. I was also told that the evaluation was delayed as they wrote the wrong address. There was never an apology. I asked for an extension and it was refused. All my hard work to get this home was gone. Luckily the builder managed to get the land seller to change their mind. The day before settlement, the amount for settlement came through and Homestar were going to contribute a lot less than what I expected. I had paid 5% to the builder but they did not take this into account. When I asked them to explain the amount they were paying towards settling the land I was told "I can't believe you would ask me that question, you should know the terms of your loan" and "there's no way you will settle tomorrow if you make changes". The change was very easy and straightforward in the end. I hope that I can eventually be proven wrong and they can improve their customer service. I would hate for anyone else to be spoken to and treated the way I was. I am not usually one to complain but I have had no luck solving this with Homestar.
Homestar finance is not as competitive as it used to be. I wish they would treat their existing customers as new ones.
Read full reviewHomestar finance is not as competitive as it used to be. I wish they would treat their existing customers as new ones.
Home Value Loan
6.09% p.a. variable
6.09% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Elevate
6.09% p.a.
6.20% p.a.
Fixed Rate Loan (with Orange Advantage)
5.99% p.a.
fixed 3 years
6.12% p.a.
Fixed Rate
6.59% p.a.
fixed 3 years
7.06% p.a.
Home Value Loan
6.09% p.a.
6.09% p.a.
$0.00
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.
