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Homestar Star Essentials Home Loan

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Homestar's Star Essentials mortgage is a variable rate loan for homebuyers that sticks to the basics and offers a very low rate.

If you're hoping to buy a home and you have a 20% deposit then the Star Essentials Home Loan could be a good option. The loan is flexible, keeps fees to a minimum and has a very low interest rate.

It doesn't have options for investors or interest-only repayments.

Refinance cashback offer

Eligible customers switching to a Homestar Star Essentials or Star Classic home loan can receive up to $1,500 cashback. Principal-and-interest repayments only. To qualify for this offer you must apply by 30 September 2020, with settlement by 31 December 2020.

Upfront fee waiver

Homestar will waive valuation fees up to $250 and legal fees up to $265 for new purchasers taking out an eligible Homestar Star Essentials or Star Classic home loan (principal-and-interest repayments). To qualify for this offer you must apply by 30 September 2020, with settlement by 31 December 2020.

Interest Rate Max Insured LVR Max LVR
>$850k LVR up to 80% (Owner Occupier, P&I)
2.49% p.a.
Comparison Rate
2.52% p.a.
80% 80%
$250K to $850K LVR up to 80% (Owner Occupier, P&I)
2.29% p.a.
Comparison Rate
2.32% p.a.
80% 80%
Owner Occupied P&I Variable >850k 70%
2.39% p.a.
Comparison Rate
2.42% p.a.
70% 70%
Owner Occupied P&I Variable 150
2.19% p.a.
Comparison Rate
2.22% p.a.
70% 70%
Product NameHomestar Star Essentials Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$150,000
Maximum Loan Amount$1,000,000
Minimum Loan Term5 years
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR80%
Mortgage Offset AccountNo
Mortgage 100% OffsetNo
Loan Redraw FacilityYes
Split Loan FacilityYes
Suitable for InvestmentNo
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest
Application Fee$0
Lender's Legal Fee$264
Valuation Fee$248.08
Ongoing Fees$0 p.a.
Discharge Fee$535


  • No application fee
  • No monthly fees
  • Make extra repayments


  • $535 discharge fee
  • $248.08 valuation fee
  • No offset facility

What do I need to know about this loan?

This loan has a variable rate for principal and interest owner-occupier borrowers. The loan has a maximum LVR of 80%, which means you'll need a 20% deposit.

Homestar is an online lender. It doesn't have physical branches but offers customer support online and over the phone.

What are the features and benefits of the Star Essentials Home Loan?

  • Loan amount. You can borrow as little as $150,000 and as much as $1,000,000.
  • Purpose. This product is only for owner-occupiers buying a home to live in, not an investment property.
  • Repayment flexibility. You can repay this loan monthly, weekly or fortnightly. You can also make unlimited extra repayments.
  • Deposit size. You can borrow up to 80% of your property's value. There's no low deposit option.

What fees and charges come with this loan?

The Star Essentials Home Loan keeps fees to a minimum.

  • Settlement fee. There may be a third-party disbursement fee. This isn't charged by Homestar.
  • Late payment fee: $20. If your payments are overdue, there's a small fee.
  • Redraw. There's no fee for online redraw but there's a small fee for manual redraw.

How do I apply for this loan?

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

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Homestar Star Essentials Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $0 / $0

  • Max LVR


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