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Homestar Finance

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Variable or Fixed rateOffsetRedraw

A home loan from Homestar Finance with variable and fixed rates from 6.23% a year.

Written byDavid Boyd
Interest rate a year, from
6.23%
Comparison rate
6.23%
Upfront fees
$639
Annual fee
Not published
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

What it would cost

At the lowest rate of 6.23% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$3,687
Total repayments
$1,327,141
Interest
$727,141

Rates

Every rate Homestar Finance publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestUp to 70%6.23%6.23%
VariableLive inPrincipal and interest70% to 80%6.33%6.33%
VariableLive inPrincipal and interest80% to 85%6.83%6.83%
VariableLive inPrincipal and interest85% to 90%6.83%6.83%
VariableLive inPrincipal and interest90% to 95%7.23%7.23%
VariableLive inInterest onlyUp to 70%6.43%6.43%
VariableLive inInterest only70% to 80%6.53%6.53%
VariableInvestmentPrincipal and interestUp to 70%6.43%6.46%
VariableInvestmentPrincipal and interest70% to 80%6.53%6.53%
VariableInvestmentPrincipal and interest80% to 85%7.03%7.03%
VariableInvestmentPrincipal and interest85% to 90%7.03%7.06%
VariableInvestmentPrincipal and interest90% to 95%7.43%7.46%
VariableInvestmentInterest onlyUp to 70%6.63%6.66%
VariableInvestmentInterest only70% to 80%6.73%6.76%
VariableInvestmentInterest only80% to 85%7.23%7.23%
VariableInvestmentInterest only85% to 90%7.23%7.26%
1 year fixedLive inPrincipal and interestUp to 70%7.43%6.36%
1 year fixedLive inPrincipal and interest70% to 80%7.53%6.46%
1 year fixedLive inInterest onlyUp to 70%7.63%6.56%
1 year fixedLive inInterest only70% to 80%7.73%6.66%
1 year fixedInvestmentPrincipal and interestUp to 70%7.63%6.59%
1 year fixedInvestmentPrincipal and interest70% to 80%7.73%6.69%
1 year fixedInvestmentInterest onlyUp to 70%7.83%6.79%
1 year fixedInvestmentInterest only70% to 80%7.93%6.89%
2 year fixedLive inPrincipal and interestUp to 70%7.43%6.48%
2 year fixedLive inPrincipal and interest70% to 80%7.53%6.58%
2 year fixedLive inInterest onlyUp to 70%7.63%6.68%
2 year fixedLive inInterest only70% to 80%7.73%6.78%
2 year fixedInvestmentPrincipal and interestUp to 70%7.63%6.71%
2 year fixedInvestmentPrincipal and interest70% to 80%7.73%6.81%
2 year fixedInvestmentInterest onlyUp to 70%7.83%6.91%
2 year fixedInvestmentInterest only70% to 80%7.93%7.01%
3 year fixedLive inPrincipal and interestUp to 70%7.43%6.58%
3 year fixedLive inPrincipal and interest70% to 80%7.53%6.68%
3 year fixedLive inInterest onlyUp to 70%7.63%6.78%
3 year fixedLive inInterest only70% to 80%7.73%6.88%
3 year fixedInvestmentPrincipal and interestUp to 70%7.63%6.82%
3 year fixedInvestmentPrincipal and interest70% to 80%7.73%6.92%
3 year fixedInvestmentInterest onlyUp to 70%7.83%7.02%
3 year fixedInvestmentInterest only70% to 80%7.93%7.12%
4 year fixedLive inPrincipal and interestUp to 70%7.43%6.68%
4 year fixedLive inPrincipal and interest70% to 80%7.53%6.78%
4 year fixedLive inInterest onlyUp to 70%7.63%6.88%
4 year fixedLive inInterest only70% to 80%7.73%6.98%
4 year fixedInvestmentPrincipal and interestUp to 70%7.63%6.92%
4 year fixedInvestmentPrincipal and interest70% to 80%7.73%7.02%
4 year fixedInvestmentInterest onlyUp to 70%7.83%7.12%
4 year fixedInvestmentInterest only70% to 80%7.93%7.22%
5 year fixedLive inPrincipal and interestUp to 70%7.43%6.77%
5 year fixedLive inPrincipal and interest70% to 80%7.53%6.87%
5 year fixedLive inInterest onlyUp to 70%7.63%6.97%
5 year fixedLive inInterest only70% to 80%7.73%7.07%
5 year fixedInvestmentPrincipal and interestUp to 70%7.63%7.01%
5 year fixedInvestmentPrincipal and interest70% to 80%7.73%7.11%
5 year fixedInvestmentInterest onlyUp to 70%7.83%7.21%
5 year fixedInvestmentInterest only70% to 80%7.93%7.31%

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
$639
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
Yes
Redraw
Yes
Highest LVR
95%
Loan amount
Not published

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Variable rate

6.33%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

6.33%

For the same rate. Typical is 6.70%.

Upfront fees

$639

Typical upfront fees are $600.

Smallest deposit

5%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • A lower variable rate. 6.33%, below the typical 6.62%. On a $600,000 loan, every 0.10% less saves about $600 a year in interest.
  • An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
  • Fixed rates on offer. You can fix for 1 to 5 years if you'd like repayments that don't change for a while.
  • Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.

Cons

Nothing stands out.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.