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
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 80% | $150,000 | $850,000 |
| | Owner Occupier | Principal & Interest | < 80% | $850,001 | $1,000,000 |
Owner Occupier (Principal & Interest)
LVR < 80%
Loan: $150,000 $850,000
Owner Occupier (Principal & Interest)
LVR < 80%
Loan: $850,001 $1,000,000
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!
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.
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.
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.
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
$0.00
$264.00
$251.35
$0.00
n/a
$0.00
$535.00
$150,000
$850,000
none
80.00%
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.
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
$0.00
$264.00
$251.35
$0.00
n/a
$0.00
$535.00
$850,001
$1,000,000
none
80.00%
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.
I was in process of refinancing, spoke to Justin, the loan specialist. I supplied the balance of my loan with the extra I paid in as savings and tried to arrange to keep my savings, so I requested a 5 min call, which he didn't respond to. Then I sent an email with a suggestion that I withdraw my savings and reapply with the actual balance. He didn't respond to me at all. I have a clean credit record and no debt at all besides the mortgage. I am a full time employee with ample money to service the loan. This is the work ethic and level of care that you will encounter. Very disappointed with Homestar.
Read full reviewI was in process of refinancing, spoke to Justin, the loan specialist. I supplied the balance of my loan with the extra I paid in as savings and tried to arrange to keep my savings, so I requested a 5 min call, which he didn't respond to. Then I sent an email with a suggestion that I withdraw my savings and reapply with the actual balance. He didn't respond to me at all. I have a clean credit record and no debt at all besides the mortgage. I am a full time employee with ample money to service the loan. This is the work ethic and level of care that you will encounter. Very disappointed with 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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1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
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2.18% p.a.
fixed 3 years
3.62% p.a.
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2.09% p.a.
fixed 3 years
3.01% p.a.
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1.99% p.a.variable for 12 months and then 2.48% p.a. variable
2.47% p.a.
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2.94% p.a. variable
3.34% p.a.
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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.
Bank of Queensland
Economy
2.59% p.a.
2.76% p.a.
Newcastle Permanent
Fixed Rate Home Loan (Premium Plus Package)
2.18% p.a.
fixed 3 years
3.62% p.a.
Bank of Queensland
Fixed Rate
2.09% p.a.
fixed 3 years
3.01% p.a.
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1.99% p.a.variable for 12 months and then 2.48% p.a.
2.47% p.a.
$0.00
Yard
Variable Home Loan Special
2.09% p.a.
2.12% p.a.
$0.00
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1.99% p.a.variable for 12 months and then 2.74% p.a.
2.71% 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.
