Homestar Finance Basic Refinance Loan

A loan with a competitive rate and features to help you reach your refinancing goals

With the Homestar Basic Refinance loan, you have the liberty to make additional repayments and benefit from flexible loan options to suit your investment needs. Designed for those looking to refinance an owner occupied property, the Homestar Basic Refinance home loan comes with minimal fees which means you can focus on meeting your re-financing goals.

Things to consider about Homestar Basic Refinance Loan

As a home loan provider without a branch network, Homestar Finance doesn’t incur the same costs as a regular lender which means they can pass on savings to you through quality products and low rates.

With the ability to borrow a maximum of $500,000, the Homestar Basic Refinance Loan is suited for borrowers looking to refinance an owner occupied property. With a maximum LVR of 70%, you’ll need to have 30% equity in your existing property. Acceptable securities for this loan include residential properties as well as units/apartments greater than 50sqm (excluding balconies and parking space).

Additionally, the Homestar Basic Refinance loan allows you to avoid the costly premium of Lender’s Mortgage Insurance (LMI).

Features of the Homestar Basic Refinance Loan

  • Maximum Loan Amount: This loan allows you to borrow up to $500,000, which allows you to borrow the funds for a variety of properties at different price points.
  • Loan to Value Ratio (LVR): The Homestar Basic Refinance Loan enables you to borrow a maximum 70% LVR, which means you’ll be required to have 30% equity in your property. This allows you to avoid paying extra fees like LMI.
  • Loan Term: With a loan life of 30 years, the Homestar Basic Refinance loan is a long-term investment that enables you to pay your loan off at a pace which suits you.
  • Split Loan Facility: A split loan feature enables you to split your home loan into more than one portion which offers extra security. This means you can split your home loan and utilise both variable and fixed rates for more flexibility.
  • Repayment Frequency: For principal and interest loans you can make weekly, fortnightly or monthly repayments to suit your income stream.
  • Additional repayments: For variable loans, extra repayments can be made at any time without penalty, allowing you to pursue homeownership sooner.
  • Redraw Facility: The redraw facility allows you to withdraw extra repayments you’ve made, so that you can use the funds to pay for sudden expenses of lifestyle improvements, or even just a holiday.

Homestar Basic Refinance Loan Fees

Fees you can avoid:
  • Application fee: A $0 application fee means you can get set up at minimal cost.
  • LMI: The absence of LMI means you can avoid the costly insurance premium and focus on meeting your re-financing goals.
  • Fixed rate lock fee: A $0 fixed rate lock fee enables you to lock in a portion of your interest without incurring a fee.
  • Transaction fee: No transaction fee means you have the flexibility to manage your home loan without incurring additional fees.
Fees you can’t avoid
  • Discharge fee: A $635 will be charged once your loan is discharged.
  • Valuation fees $302.50. This fee is charged per valuation, and is charged at cost price.
  • Solicitor Documentation Fee $330. This is charged to cover the third party costs of any legal documents which are required to settle your home loan.

How to apply for the Homestar Basic Refinance Loan

If you think the Homestar Basic Refinance home loan is right for you, then click ‘apply now’ and you’ll be securely redirected to the application page.

Once you’ve completed the online application form, a Homestar Finance representative will be in contact to discuss the next steps.


To be eligible for the Homestar Basic Refinance loan, you must meet the following criteria:

  • You must be over the age of 18
  • You must be a permanent Australian resident
  • You must have a clear credit history

Featuring a split loan option, redraw facility and the absence of LMI, the Homestar Basic Refinance loan is a competitive product suited for borrowers looking to refinance an owner-occupied property with existing equity.

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