Homestar Star Classic Owner Occupied Fixed Special Home Loan
The Classic Owner Occupied Fixed Special Home Loan from Homestar is one of the lowest fixed rate loans around.
The Homestar Star Classic Owner Occupied Fixed Special Home Loan offers homebuyers a very low one year interest rate. The loan is for home buyers, not investors, and you need a 20% deposit to get it.
Richard Whitten is a senior writer at Finder covering home loans and property. He helps everyone understand the ins and outs of mortgages so they can make smarter property decisions. He has written for Yahoo Finance, Money Magazine, Homely, and for multiple banks and lenders. 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. Richard has a Bachelor of Education, a Graduate Certificate in Communication and is currently studying a Certificate IV in Finance and Mortgage Broking.
The Homestar Star Classic Owner Occupied Fixed Special Home Loan is only for owner-occupiers and has principal-and-interest repayments. Your rate won't change for the first year of the loan. After that, it reverts to a variable loan with a different rate.
This is a basic home loan that doesn't have an offset account, but it does have a redraw facility and flexible repayment options.
About this loan
What are the features and benefits of the Homestar Star Classic Owner Occupied Fixed Special Home Loan?
- Loan amount. The Homestar Star Classic Owner Occupied Fixed Special Home Loan has a minimum loan amount of $150,000 and a maximum loan amount of $1,000,000.
- Loan to value ratio (minimum deposit). The maximum insured loan to value ratio for this product is 80%. In other words, you need a 20% deposit to get this loan.
- Extra repayments. You can make extra repayments and access them via a redraw facility. The loan does not have an offset account.
- Other options. This loan has a split facility, allowing you to separate the loan into fixed and variable portions. It is not portable.
What fees and charges come with this loan?
This loan has a few fees to look out for.
- Application fee: $0. This one-off fee is charged to process your application.
- Valuation fee: Starting at $250. This fee covers the cost of having your property valued.
- Legal fee: $265. This fee covers the lender's legal costs.
- Discharge fee: $535 (plus 3rd party cost). You pay this fee at the end of the loan (whether by paying it off or refinancing).
How to apply
If you want to apply for the Homestar Star Classic Owner Occupied Fixed Special Home Loan or get more information about the product, simply click the green button and leave your details. Then a lending specialist from Homestar will get in touch with you and help you take the next step.
Home Loan OffersImportant Information*
Up to $3,000 refinance cashback. A flexible and competitive variable rate loan. Eligible borrowers refinancing $250,000 or more can get $2,000 cashback per property plus a bonus $1,000 for their first application. Other conditions apply.
Up to $4,000 refinance cashback. With this competitive variable rate loan from St.George, refinancers borrowing $250,000+ can get up $4,000 cashback and borrow up to 90% of the property's value. (Terms, conditions & exclusions apply).
A competitive variable rate mortgage for owner occupiers $0 application and $0 ongoing fees. This interest rate falls over time as you pay off the loan.