No matter how much you love a property, you need to base your decision on more than gut feel. See if you can get hold of a suburb profile, which can help you get a clearer picture of the neighbourhood and estimated sale/rental prices.
First Time Buyers
Buying your first home is a big deal. As well as the excitement, there's a lot to research, and plenty of jargon to untangle before you can feel ready to make a move.
Do your research
Price
Make sure you’ve seen enough potential properties to know what works for you, and what doesn’t. Check out how much similar properties in the area sell for – in good times and bad.
Location
You should also check out the lifestyle factors you need today, like public transport and local facilities, or maybe tomorrow, like access to schools and hospitals. You should also try and find out if there are any development applications nearby that could impact the property in the future.
Extra Costs
If you’re buying an apartment, be sure to get hold of the strata report- in advance to discover any upcoming maintenance projects that could affect your strata costs. If you’re buying a house, an up–to–date building condition and pest inspection report is essential.
Understanding first-time home loans
How much can I borrow?
Discover the possibilities with our mortgage calculator. Get an estimate of how much you could afford to borrow based on your lifestyle.
What can I afford?
Calculate your borrowing power at an early stage to help narrow down your property search to things you can afford. Our Borrowing Power calculator can help you see the maximum amount you’re eligible to borrow.
How much deposit do I need?
A good place to start is to get an idea of how much you might be able to borrow. Then you’ll not only be able to take a look at what’s on the market in your price range, you’ll also have some indication of what size deposit you’ll need. Generally, most lenders like a 20% deposit of the purchase price of the property. If you have less than 20% deposit but you’re still keen to purchase, there are options available that could help you buy a property sooner.
Great rates. Great service. Have it all with Homestar.
Our Products
Explore our market-leading range of home loan options, rates and features:
Star Gold
Variable Principal & Interest
1.79%
Interest rate p.a.1a
1.84%
Comparison rate p.a.1a,2
- Up to 60% LVR
- Offset Account
- Visa Debit Card Provided with ATM Access
- Unrestricted Extra Repayments
- Free Online Redraws
- Pay Anyone & BPAY® Available
- Multiple Loan Splits Possible
- Weekly, Fortnightly or Monthly Repayments
- Schedule Recurring Payments or Transfers
Star Essentials
Variable Principal & Interest
1.99%
Interest rate p.a.1a
2.02%
Comparison rate p.a.1a,2
- Up to 80% LVR
- Unrestricted Extra Repayments
- Free Online Redraws
- Pay Anyone & BPAY® Available
- Multiple Loan Splits Possible
- Weekly, Fortnightly or Monthly Repayments
- Schedule Recurring Payments or Transfers
Star Classic
Variable Principal & Interest
2.09%
Interest rate p.a.1a
2.12%
Comparison rate p.a.1a,2
- Up to 80% LVR
- Offset Account
- Visa Debit Card Provided with ATM Access
- Unrestricted Extra Repayments
- Free Online Redraws
- Pay Anyone & BPAY® Available
- Multiple Loan Splits Possible
- Weekly, Fortnightly or Monthly Repayments
- Schedule Recurring Payments or Transfers
Star Classic Fixed
2 Years Fixed Rate
1.79%
Interest rate p.a.1a
2.12%
Comparison rate p.a.1a,2
- Up to 80% LVR
- Extra Repayments up to 20k p.a.
- Free Online Redraws
- Pay Anyone & BPAY® Available
- Multiple Loan Splits Possible
- Weekly, Fortnightly or Monthly Repayments
- Schedule Recurring Payments or Transfers
Star Classic
Variable Principal & Interest
2.29%
Interest rate p.a.1b
2.32%
Comparison rate p.a.1b,2
- Up to 80% LVR
- Offset Account
- Visa Debit Card Provided with ATM Access
- Unrestricted Extra Repayments
- Free Online Redraws
- Pay Anyone & BPAY® Available
- Multiple Loan Splits Possible
- Weekly, Fortnightly or Monthly Repayments
- Schedule Recurring Payments or Transfers
Star Classic
Variable Interest Only
2.59%
Interest rate p.a.1b
2.62%
Comparison rate p.a.1b,2
- Up to 80% LVR
- Offset Account
- Visa Debit Card Provided with ATM Access
- Unrestricted Extra Repayments
- Free Online Redraws
- Pay Anyone & BPAY® Available
- Multiple Loan Splits Possible
- Monthly Repayments Only
- Schedule Recurring Payments or Transfers
Star Classic Fixed
2 Years Fixed Rate
1.99%
Interest rate p.a.1b
2.32%
Comparison rate p.a.1b,2
- Up to 80% LVR
- Extra Repayments up to 20k p.a.
- Free Online Redraws
- Pay Anyone & BPAY® Available
- Multiple Loan Splits Possible
- Weekly, Fortnightly or Monthly Repayments
- Schedule Recurring Payments or Transfers
First Home Owner Grant
The First Home Owner Grant (FHOG) is a national scheme funded by the states and territories introduced to offset the effect of GST for first home buyers on buying their first home. Each state and territory differ in amount and have their own criteria for eligibility.
How much is the First Home Owner Grant?
Each state and Territory have different amounts for the First Home Owner Grant. Click any of the below links for more info on your State or Territory.
Australian Capital Territory | New South Wales | Queensland | Victoria | South Australia | Western Australia | Northern Territory
Prequalify for a Home Loan
Fast-track your home loan qualification process in 4 easy steps.
Ready to get started?
Our dedicated team of Home Loan Specialists take the time to get to know you so we can offer every one of our customers personalised service – making it easy to find a home loan that’s right for you. Whether it’s your first home, you’re looking to refinance or finding an investment property, Homestar’s award-winning deals are here to help.
Get in Touch
1 Rates shown apply to new eligible Owner Occupieda or Investment loansb only, loan limits may apply depending on your product (refer to the product page) and at least one applicant is on PAYG employment. After a fixed rate term, a variable rate will apply. Rates are subject to change without notice. Existing borrowers may have different interest rates which are dependent on the rate offered to the borrower at the date when a home loan settled and any reductions or increases the lender decided to make on the existing loan over time. Accordingly, there is not one standard variable rate that applies to all Homestar home loans and existing customers can confirm their current rate(s) by logging in to internet banking or by contacting customer service. Terms, conditions, and eligibility criteria apply.
2 Comparison rates are based on a basic Homestar loan, on a $150,000 loan amount over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Other fees and charges may apply.
DISCLAIMER: Terms, conditions and eligibility criteria apply to all our loan products and features. Fees, charges and disbursements are payable. Final approval is subject to credit assessment. Information valid as at 25th May 2021 which is subject to change without notice. Please consider if the product is appropriate for your individual circumstances. If you need assistance or have any questions about a product or feature and its suitability, please contact our Loan Specialists.
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