Homestar Finance home loan repayment calculator

Thinking about taking out a home loan with Homestar Finance? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Homestar Finance home loans compare with other options.

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With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated repayments

at interest rate 1.79 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

  • Lower home loan fees than many other lenders
  • Flexible loan options
  • Loans have competitive interest rates
  • No branch network
  • Limited options to contact the lender

Homestar Finance home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

1.79%

Variable

$910

1.84%

$0
Homestar Finance
More details

2.04%

Variable

$512

2.07%

$0
Homestar Finance
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2.14%

Variable

$512

2.17%

$0
Homestar Finance
More details

2.14%

Variable

$512

2.17%

$0
Homestar Finance
More details

2.24%

Variable

$512

2.27%

$0
Homestar Finance
More details

1.95%

Fixed - 3 years

$0

2.35%

$395 annually
Homestar Finance
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2.06%

Fixed - 2 years

$512

2.36%

$0
Homestar Finance
More details

1.90%

Fixed - 1 year

$395

2.37%

$0
Homestar Finance
More details

2.34%

Variable

$512

2.37%

$0
Homestar Finance
More details

2.49%

Fixed - 3 years

$512

2.37%

$0
Homestar Finance
More details

2.69%

Fixed - 4 years

$512

2.45%

$0
Homestar Finance
More details

2.44%

Variable

$512

2.47%

$0
Homestar Finance
More details

2.59%

Fixed - 2 years

$512

2.47%

$0
Homestar Finance
More details

2.59%

Fixed - 2 years

$512

2.50%

$0
Homestar Finance
More details

2.69%

Fixed - 1 year

$512

2.54%

$0
Homestar Finance
More details

2.69%

Fixed - 2 years

$512

2.55%

$0
Homestar Finance
More details

2.79%

Fixed - 4 years

$512

2.55%

$0
Homestar Finance
More details

2.89%

Fixed - 5 years

$512

2.55%

$0
Homestar Finance
More details

2.69%

Fixed - 3 years

$512

2.57%

$0
Homestar Finance
More details

2.69%

Fixed - 3 years

$512

2.57%

$0
Homestar Finance
More details

2.18%

Fixed - 1 year

$265

2.58%

$395 annually
Homestar Finance
More details

2.26%

Fixed - 3 years

$265

2.58%

$395 annually
Homestar Finance
More details

2.79%

Fixed - 1 year

$512

2.64%

$0
Homestar Finance
More details

2.79%

Fixed - 2 years

$512

2.65%

$0
Homestar Finance
More details

2.79%

Fixed - 2 years

$512

2.65%

$0
Homestar Finance
More details

2.89%

Fixed - 4 years

$512

2.65%

$0
Homestar Finance
More details

2.89%

Fixed - 4 years

$512

2.65%

$0
Homestar Finance
More details

2.99%

Fixed - 5 years

$512

2.66%

$0
Homestar Finance
More details

2.64%

Variable

$512

2.67%

$0
Homestar Finance
More details

2.79%

Fixed - 3 years

$512

2.67%

$0
Homestar Finance
More details

2.69%

Variable

$512

2.72%

$0
Homestar Finance
More details

2.69%

Variable

$512

2.72%

$0
Homestar Finance
More details

2.89%

Fixed - 1 year

$512

2.74%

$0
Homestar Finance
More details

2.89%

Fixed - 2 years

$512

2.75%

$0
Homestar Finance
More details

2.99%

Fixed - 4 years

$512

2.75%

$0
Homestar Finance
More details

2.99%

Fixed - 4 years

$512

2.75%

$0
Homestar Finance
More details

3.09%

Fixed - 5 years

$512

2.76%

$0
Homestar Finance
More details

3.09%

Fixed - 5 years

$512

2.76%

$0
Homestar Finance
More details

2.89%

Fixed - 3 years

$512

2.77%

$0
Homestar Finance
More details

2.79%

Variable

$512

2.82%

$0
Homestar Finance
More details

2.99%

Fixed - 1 year

$512

2.84%

$0
Homestar Finance
More details

3.09%

Fixed - 4 years

$512

2.85%

$0
Homestar Finance
More details

2.99%

Fixed - 2 years

$512

2.86%

$0
Homestar Finance
More details

3.19%

Fixed - 5 years

$512

2.86%

$0
Homestar Finance
More details

3.19%

Fixed - 5 years

$512

2.86%

$0
Homestar Finance
More details

2.99%

Fixed - 3 years

$512

2.87%

$0
Homestar Finance
More details

3.19%

Fixed - 4 years

$512

2.95%

$0
Homestar Finance
More details

3.29%

Fixed - 5 years

$512

2.96%

$0
Homestar Finance
More details

3.39%

Fixed - 5 years

$512

3.06%

$0
Homestar Finance
More details

Homestar Finance customer service

Homestar Finance customers can make contact with customer support by calling the contact centre or by using the online enquiry form. As Homestar Finance is an online-only lender there is no option for face-to-face customer support. Customers can access their loan details through an online banking interface.

  • Customer service centre (phone)
  • Online banking

How to apply for a Homestar home loan

Borrowers wanting to apply for a Homestar Finance home loan can either complete an online enquiry form or call through to the Contact Centre for more support. 

Before applying for a Homestar Finance home loan, consider how much you can afford to borrow and what other costs you may need to pay. 

To apply for a Homestar Finance home loan, you will need to supply the following information:

  • Proof of identity
  • Proof of income and employment
  • Information about the property you’re using as security
  • A list of assets and liabilities

About Homestar Finance home loans

As an online home loan provider, Homestar Finance offers a relatively thin range of home loans.

This means its home loans are most suited to more typical owner-occupiers, investors and refinancers rather than those seeking specialist loans such as SMSF loans or high-LVR loans.

Homestar Finance home loans are available with a range of interest rate options:

  • Variable rate
  • Fixed rate
  • Principal and interest
  • Interest-only
  • Split loans

Homestar Finance home loans have a maximum loan term of 30 years. Offset accounts and redraw facilities are available with selected mortgages from Homestar Finance.

Unlimited extra repayments are allowed on some of its home loan offerings, while others allow extra repayments with restrictions.

Homestar Finance home loan rates

Unlike many other banks and home loan lenders, Homestar Finance operates online only and doesn’t have any branches. Thanks to lower overheads, it can pass savings on to customers in the form of lower interest rates.

While Homestar Finance's home loan interest rates can often be relatively low, it's important to also consider the cost of upfront and ongoing fees before you apply for a mortgage.

Homestar Finance’s home loan interest rates differ depending on the type of borrower. Typically, owner-occupiers paying principal and interest are offered the lowest rates, followed by owner-occupiers paying interest only or investors paying principal and interest, then by investors paying interest only.

Homestar Finance home loans review

Homestar Finance offers relatively no-frills online-only home loans, which may be more suitable for tech-savvy owner-occupiers, investors or refinancers. Homestar doesn’t offer specialist mortgages such as low-doc mortgages, high-LVR mortgages or SMSF mortgages.

Because it doesn’t have to maintain costly branches and in-branch staff, Homestar Finance home loan rates tend to be lower than those of many other banks, though it’s important to also consider the cost of upfront and ongoing fees. 

Homestar Finance offers home loans with options for extra repayments, offset accounts and redraw facilities, which may appeal to those who want more control over their mortgage.

Homestar Finance home loans can be principal and interest or interest-only, while borrowers can also choose for their mortgages to be variable, fixed or split.

Learn more about Homestar Finance

How much information is required to get a rating?

You don’t need to input any information to see the default ratings. But the more you tell us, the more relevant the ratings will become to you. We take your personal privacy seriously. If you are concerned about inputting your information, please read our privacy policy.

What happens to your mortgage when you die?

There is no hard and fast answer to what will happen to your mortgage when you die as it is largely dependent on what you have set out in your mortgage agreement, your will (if you have one), other assets you may have and if you have insurance. If you have co-signed the mortgage with another person that person will become responsible for the remaining debt when you die.

If the mortgage is in your name only the house will be sold by the bank to cover the remaining debt and your nominated air will receive the remaining sum if there is a difference. If there is a turn in the market and the sale of your house won’t cover the remaining debt the case may go to court and the difference may have to be covered by the sale of other assets.  

If you have a life insurance policy your family may be able to use some of the lump sum payment from this to pay down the remaining mortgage debt. Alternatively, your lender may provide some form of mortgage protection that could assist your family in making repayments following your passing.

What is the amortisation period?

Popularly known as the loan term, the amortisation period is the time over which the borrower must pay back both the loan’s principal and interest. It is usually determined during the application approval process.

What is a fixed home loan?

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

What is a construction loan?

A construction loan is loan taken out for the purpose of building or substantially renovating a residential property. Under this type of loan, the funds are released in stages when certain milestones in the construction process are reached. Once the building is complete, the loan will revert to a standard principal and interest mortgage.

Mortgage Calculator, Loan Purpose

This is what you will use the loan for – i.e. investment. 

Remaining loan term

The length of time it will take to pay off your current home loan, based on the currently-entered mortgage balance, monthly repayment and interest rate.

What is bridging finance?

A loan of shorter duration taken to buy a new property before a borrower sells an existing property, usually taken to cover the financial gap that occurs while buying a new property without first selling an older one.

Usually, these loans have higher interest rates and a shorter repayment duration.

How is the flexibility score calculated?

Points are awarded for different features. More important features get more points. The points are then added up and indexed into a score from 0 to 5.

What is a redraw fee?

Redraw fees are charged by your lender when you want to take money you have already paid into your mortgage back out. Typically, banks will only allow you to take money out of your loan if you have a redraw facility attached to your loan, and the money you are taking out is part of any additional repayments you’ve made. The average redraw fee is around $19 however there are plenty of lenders who include a number of fee-free redraws a year. Tip: Negative-gearers beware – any money redrawn is often treated as new borrowing for tax purposes, so there may be limits on how you can use it if you want to maximise your tax deduction.

Mortgage Calculator, Interest Rate

The percentage of the loan amount you will be charged by your lender to borrow. 

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

How common are low-deposit home loans?

Low-deposit home loans aren’t as common as they once were, because they’re regarded as relatively risky and the banking regulator (APRA) is trying to reduce risk from the mortgage market.

However, if you do your research, you’ll find there is still a fairly wide selection of banks, credit unions and non-bank lenders that offers low-deposit home loans.

Mortgage Calculator, Repayment Type

Will you pay off the amount you borrowed + interest or just the interest for a period?

What is a valuation and valuation fee?

A valuation is an assessment of what your home is worth, calculated by a professional valuer. A valuation report is typically required whenever a property is bought, sold or refinanced. The valuation fee is paid to cover the cost of preparing a valuation report.