Homestar logo Mozo experts choice 2020

Homestar Star Essentials Home Loan

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $850,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $850,001 and $1,000,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $150,000 $850,000

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $850,001 $1,000,000

Rate
2.14% p.a.
Comparison Rate
2.19% p.a.
Service fee
$0.00
Upfront fee
$515
Rate
2.49% p.a.
Comparison Rate
2.54% p.a.
Service fee
$0.00
Upfront fee
$515

Mozo editorial review Homestar Star Essentials Home Loan

Last updated: 3 November 2020.

binocular icon
What's hot
  • Variable rates from 2.14% p.a. (2.17% p.a. comparison rate*)
  • Free extra repayments and redraw facility
  • 2020 Mozo Experts Choice Award
What's not
  • Valuation fee from $248.08
  • Legal fee from $264
Mozo snapshot

With a number of handy features including free extra repayments, a free redraw facility and variable rates starting low from 2.14% p.a. (2.17% p.a. comparison rate*) for borrowers with a maximum 80% LVR, the Homestar Star Essentials Home Loan gives owner occupiers plenty to get excited about. Speaking of excitement, the Star Essentials Home Loan was also named a 2020 Mozo Experts Choice Award winner for Best Low Cost Home Loan!

key icon
Key features

The Star Essentials Home Loan is available for owner occupiers and comes with two rate tiers, depending on how much you're borrowing.

If you're borrowing amounts below $850k, rates start from as low as 2.17% (2.19% comparison rate*). However if you plan to borrow between $850k and $1 million, you'll receive a slightly higher variable rate of 2.49% (2.52% comparison rate*). Both rates come with a 80% LVR so you'll need to save up diligently for your deposit.

You’ll have a lot of say when it comes to how you’ll pay off your Homestar Star Essentials mortgage. Repayments can be made weekly, fortnightly or monthly, and you can make free extra repayments if you want to pay off your loan faster. If you ever need those funds back you can easily retrieve them with the free redraw facility.

There is a valuation fee, a legal documentation fee and discharge fee at the end of your loan to budget for.




snapshot
Who is it good for

With a rate this low, it's hard to go wrong, but this loan is mainly suited to owner-occupiers who want a mortgage with a few of the key features that could help save money, without all the bells and whistles of a full-feature loan.

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Any catches

If you want to snag Homestar's low rates, you'll need to have an LVR of 80%, meaning that you'll have to have at least 20% of the property's value on hand for the deposit.

Details

Rates and fees information correct as at 21 January 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
  • 2.14% p.a.

  • n/a

  • n/a

  • n/a

  • 2.19% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $264.00

  • $251.35

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $150,000

  • $850,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

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

  • Upfront $251.35 valuation and $265 legal fees waived for applications by 31 Dec 2020 and settled by 28 Feb 2021.

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 21 January 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
  • 2.49% p.a.

  • n/a

  • n/a

  • n/a

  • 2.54% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $265.00

  • $250.00

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $850,001

  • $1,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

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

  • Upfront $251.35 valuation and $265 legal fees waived for applications by 31 Dec 2020 and settled by 28 Feb 2021.

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
6.3/10
Price
7.5/10
Features
6.4/10
Customer service
6.5/10
Convenience
5.8/10
Trust
5.9/10
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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