Homestar Gold Fixed Home Loan

The Homestar Gold Fixed home loan is a very competitive fixed rate loan that's only for refinancers with 40% equity.

The Gold Home Loan from Homestar is a fixed rate loan with principal-and-interest repayments. The loan has a very low fixed rate. You must be refinancing an existing mortgage to qualify for this product.

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Review by

Richard Whitten is an editor at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea.

Expert review

The loan has a maximum insured LVR of 60%, meaning you will need a 40% deposit (or rather, equity).

About this loan

What are the features and benefits of the Homestar Gold Home Loan?

  • Loan amount. You can borrow up to $500,000 with this loan.
  • Purpose. This product is available for home buyers (owner-occupiers) only, not investors. However it's not for new home buyers but for existing home buyers looking to refinance their loan.
  • Deposit size. You can borrow up to 60% of your property's value, meaning you will need a 40% deposit. This is what makes the loan suitable for refinancers who have already built equity.
  • Other features. The loan has no redraw facility but does allow loan splits. You can also make extra repayments.

What fees and charges come with this loan?

The Homestar Gold Home Loan has several fees you should be aware of.

  • Service fee: $395. This fee is charged annually.
  • Legal fee: . This fee covers the legal costs with processing the loan.
  • Valuation fee: $248. This fee covers the cost to have your property valued.
  • Discharge fee: $535. You pay this fee when exiting the loan.

How to apply

To apply for this product or to get more information, click the green button and follow the application process to speak to a mortgage specialist from Homestar. They'll talk you through eligibility requirements and assist you with the application.

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