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Fixed Rate Home Loan (Principal and Interest) 2 Years ($150k-$850k, LVR 70%-80%)

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Customise your mortgage repayments by entering your details:

I want to borrow

Loan Term

years

Repayment Frequency

Pros and Cons

Pros:
  • Extra low interest rate for refinancers
  • No ongoing fees
  • Repayments will not change during fixed period
Cons:
  • Limited extra repayments
  • No redraw and no offset
  • Discharge fee at end of loan
  • Repayments won't decrease if RBA cuts rates
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Fees and Features

Maximum LVR
Maximum LVR
80%
Interest rate structure
Interest rate structure
Fixed - 2 years
Borrowing range
Borrowing range
$150k - $850k
Total repayments
Total repayments
$373,200
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
Extra repayments
Extra repayments
Allowed with restrictions
Redraw facility
Redraw facility
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$512.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
$248
Legal fee
Legal fee
$264
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee
$535
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount
Maximum LVR
Maximum LVR
80%
Interest rate structure
Interest rate structure
Fixed - 2 years
Borrowing range
Borrowing range
$150k - $850k
Total repayments
Total repayments
$373,200
Principal & interest
Principal & interest
Interest only
Interest only
Loan term
Loan term
1 - 30 years
Offset account
Offset account
Extra repayments
Extra repayments
Allowed with restrictions
Redraw facility
Redraw facility
Allows split interest
Allows split interest
Suitable For
Suitable ForOwner Occupiers
Applicable States
Applicable StatesACT, NSW, NT, QLD, SA, TAS, VIC, WA
Make Repayments
Make RepaymentsFortnightly, Monthly, Weekly
Estimated upfront fees
Estimated upfront fees
$512.00
Application fee
Application fee
$0
Settlement fee
Settlement fee
$0
Valuation fee
Valuation fee
$248
Legal fee
Legal fee
$264
Ongoing fee
Ongoing fee
$0
Discharge fee
Discharge fee
$535
Property Type
Property Type
SMSF Trustee
SMSF Trustee
Minimum SMSF Amount
Minimum SMSF Amount

Homestar Finance was established in 2004 and has an alliance with Origin Mortgage Management Services (Origin MMS). Homestar Finance home loans are backed by Australian and international mortgage funders.

Homestar Finance is an online-only home loans lender, which means it doesn’t have any branches or stores. However, it does provide access to a national network of loan specialists via the internet and over the phone.

Homestar Finance offers a limited range of home loans, including owner-occupier loans, investor loans and refinancing loans.

FAQs

A loan-to-value ratio (otherwise known as a Loan to Valuation Ratio or LVR), is a calculation lenders make to work out the value of your loan versus the value of your property, expressed as a percentage.   Lenders use this calculation to help assess your suitability for a home loan, and whether you need to pay lender’s mortgage insurance (LMI). As a general rule, most banks will require you to pay LMI if your loan-to-value ratio is 80 per cent or more.   LVR is worked out by dividing the loan amount by the value of the property. If you are looking for a quick ball-park estimate of LVR, the size of your deposit is a good indicator as it is directly proportionate to your LVR. For instance, a loan with an LVR of 80 per cent requires a deposit of 20 per cent, while a 90 per cent LVR requires 10 per cent down payment. 

LOAN AMOUNT / PROPERTY VALUE = LVR%

While this all sounds simple enough, it is worth doing a more accurate calculation of LVR before you commit to buying a place as there are some traps to be aware of. Firstly, the ‘loan amount’ is the price you paid for the property plus additional costs such as stamp duty and legal fees, minus your deposit amount. Secondly, the ‘property value’ is determined by your lender’s valuation of the property, not the price you paid for it, and sometimes these can differ so where possible, try and get your bank to evaluate the property before you put in an offer.

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