Homestar Finance Standard Variable Loan


The Homestar Finance Standard Variable Loan has a minimum loan amount of $50,000 and a maximum of $1 million.

Owner-occupiers can borrow up to 95 per cent of the property value if making principal and interest repayments, whilst investors or those making interest-only payments can borrow up to 85 per cent. Lenders’ mortgage insurance is required on all loans over 80 per cent.

Borrowers can make payments on a weekly, fortnightly and monthly basis, although interest-only payments must be made monthly.

Additional payments are permitted and customers can use a free online redraw facility to access these payments. There is also an offset account for those using their savings to reduce the interest owed on the loan.

The loan can also be split with a fixed-rate loan and an increase to the loan is allowed, subject to approval.

Who is the Homestar Finance Standard Variable Loan good for?

The Homestar Finance Standard Variable Loan is good for homebuyers wanting the flexibility and options of a variable rate loan with a competitive, low rate.

Investors may be attracted to the ability to make interest-only repayments for five years, with the option to renew for another five years.

Review - What RateCity says

The Homestar Finance Standard Variable Loan is a low rate loan that also gives customers the benefit of added repayment options.

Whilst Homestar Finance lacks the branch access and network of the larger banks, it offers borrowers a noticeably low interest rate with most of the repayment features found in a variable rate loan. The loan has no ongoing fees but still offers the ability to make additional repayments, a redraw facility and an offset account for those wanting to pay off their loan more quickly or take full advantage of the variable rate.

The size of the deposit needed varies depending upon the type of loan and those interested in making interest-only repayments will only be able to borrow 85 per cent of the property value, which is something worth considering.


Overall, the loan provides enough options to give customers a lot of freedom in how and when they repay their loan. It also offers a competitive interest rate when compared to the big banks and may be suitable for those looking for the most value for money in their loan. 

Homestar Finance Standard Variable Loan Options

The Homestar Finance Standard Variable Loan is available to owner-occupiers and investors as a variable rate loan.

Variable Rates from


Advertised rate


Comparison rate
  • Low rate.
  • Additional repayments.
  • Offset account.
  • High upfront fees.
  • Interest-only requires larger deposit.
  • No branch access.

Must be over 18 years of age.

Must be a citizen or permanent resident of Australia or New Zealand.

Must meet Homestar’s serviceability criteria.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Estimated upfront fees: $440.00 - $633.08
  • Discharge fees: $535
  • Ongoing fees: $0

The Homestar Finance Standard Variable Loan has sizable upfront fees, but charges no ongoing or annual fees.

Borrowers will also pay a discharge fee but will not be charged for additional repayments or online redraws.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Homestar Finance

Homestar Finance is a non-bank lender based in Sydney that has been operating since 2004. It has no branch access but can be contacted online and will respond by phone within 24 hours or can be called directly.

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