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Homestar Star Gold Home Loan

Advertiser disclosure
Rate
1.79% p.a.
Comparison Rate
1.84% p.a.
Service fee
$0.00
Upfront fee
$512

Mozo editorial review Homestar Star Gold Home Loan

Last updated: 3 November 2020.

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What's hot
  • Low 1.79% variable rate (1.84% comparison rate*)
  • Free extra repayments
  • Free redraw facility
What's not
  • 40% deposit required
  • No offset account
Mozo snapshot

Online lender, Homestar’s Star Gold Home Loan comes with an enticingly low variable interest rate of 1.79% (1.84% comparison rate*) and is available to borrowers in metro areas looking to take out an owner-occupier loan. You will have to have at least a 40% deposit saved up to get it, but if you’re after a super low rate along with the option to make free extra repayments and a free redraw facility, then it may just be worth checking out.

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Key features

With Homestar’s Star Gold Home Loan you could get a variable interest rate as low as 1.79% on loans between $150,000 and $750,000 (1.84% comparison rate*). You can bag this low rate if you have a 40% deposit and you’re looking to take out a principal and interest, owner-occupier loan, so it may suit those looking to downsize or refinance their current mortgage.

A low interest rate isn’t the only thing to write home about with this loan either, as it also comes with the chance to make free extra repayments and a free online redraw facility. That’s right, if you’re keen to make a big dent in your loan year on year, you’ll be able to chip away at your principal faster with fee free extra repayments. Although it should be noted that if you do manage to pay your loan off early, you will have to pay a $535 discharge fee. 

On the plus side of course, this home loan comes with no monthly or ongoing account keeping fees, meaning one less niggling fee to worry about. And if convenience is what you’re after, you might be interested to hear that you can also choose to make repayments weekly, fortnightly or monthly, depending on what schedule suits you best.

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Who is it good for

This home loan could be a good fit for you, if you have a 40% deposit or higher saved up and you’re keen to take advantage of a lower interest rate and a few extra features. That means refinancers with equity built up in their home, or anyone selling up and putting the money from the sale towards a new pad.

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Any catches

If you’re struggling to save up even a 20% deposit, then this home loan probably won’t work for you. It should also be noted that this particular home loan is only available to borrowers in metro areas, so if you’re looking to buy somewhere regional it won’t be an option.


Details

Rates and fees information correct as at 26 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
  • 1.79% p.a.

  • n/a

  • n/a

  • n/a

  • 1.84% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $0.00

  • $264.00

  • $248.08

  • $0.00

  • n/a

  • $0.00

  • $535.00

Other financial bits
  • $150,000

  • $500,000

  • none

  • 60.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • Refinance Only. Metro areas only.

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

  • Limited time offer for applications received by 31 January 2021 and settled by 30 April 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
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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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