Homestar Star Classic Owner Occupied Fixed Special Home Loan

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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.

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Expert review

Richard Whitten

Review by


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.

Expert review

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.

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