Online lender, Homestar’s Star Gold Home Loan comes with an enticingly low variable interest rate of just 1.79% (1.84% comparison rate*). You will have to have a deposit of at least 40% saved up to get it, but if you’re after a super low rate along with the option to make free extra repayments and to access a free redraw facility, then it may just be worth checking out.
With Homestar’s Star Gold Home Loan you can get a variable interest rate as low as 1.79% (1.84% comparison rate*) on loans between $250,000 and $850,000.* You can bag this low rate if your loan-to-value ratio (LVR) is 60% or below 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 gives borrowers the chance to chip away at their loan balance faster by making free extra repayments. There's also access to a free online redraw facility should you need to dip back into those payments for another purpose and an offset account*. 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.
There are also a few initial fees when you take out this home loan, including a legal fee and valuation fee of $242.20 each and $395 application fee. On the plus side, 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.
*Applications Should be received by 29 October 2021 and settled by 31 January 2022.
This home loan could be a good fit if you have a 30% deposit (or existing loan equity) or higher saved up and you’re keen to take advantage of a super-low variable rate, plus 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.
If you’re struggling to save up even a 20% deposit, then this home loan probably won’t work for you.
| 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 |
| $395.00 | |
| $264.00 | |
| $242.00 | |
| $0.00 | |
| n/a | |
| $0.00 | |
| $535.00 |
| $250,000 | |
| $850,000 | |
| none | |
| 60.00% |
| Owner Occupier | |
| Principal & Interest | |
| Weekly, Fortnightly, Monthly | |
| yes - free | |
| no | |
| yes - free | |
| $0.00 | |
| yes | |
| yes | |
| Refinance Only. | |
| $535 discharge fee waived if the loan goes to full term. | |
| 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.
loans.com.au
Smart Booster Home Loan
1.85% p.a.variable for 24 months and then 2.25% p.a. variable
2.21% p.a.
loans.com.au
Smart Booster Home Loan
1.85% p.a.variable for 24 months and then 2.25% p.a. variable
2.21% p.a.
Bank of Queensland
Economy
1.98% p.a. variable
2.15% p.a.
loans.com.au
Smart Booster Home Loan
1.85% p.a.variable for 24 months and then 2.25% p.a.
2.21% p.a.
Newcastle Permanent
Fixed Rate Home Loan (Premium Plus Package)
2.89% p.a.
fixed 3 years
3.78% p.a.
Bank of Queensland
Fixed Rate
2.99% p.a.
fixed 3 years
3.21% p.a.
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.
