Our owner occupied home loans is ideal for those looking to get an affordable home loan with all the benefits and easy access to managing your money.
At Homestar Finance, we want our customers to find the best home loan that suits their needs and lifestyle. Whether it’s your first home, you’re looking to refinance or finding an investment property, Homestar Finance’s award-winning home loan rates are here to help you achieve our Aussie property dream.
Explore our market-leading range of mortgage options, rates and features:
Star Gold
Variable principal & interest
5.98%
Interest rate p.a.1a
5.98%
Comparison rate p.a.1a,2
Star Choice
Variable principal & interest
6.75%
Interest rate p.a.1a
6.42%
Comparison rate p.a.1a,2
Star Classic
Variable principal & interest
6.35%
Interest rate p.a.1a
6.38%
Comparison rate p.a.1a,2
Star Classic Fixed
Fixed principal & interest
6.95%
Interest rate p.a.1a
6.79%
Comparison rate p.a.1a,2
Star Essentials
Variable principal & interest
6.25%
Interest rate p.a.1a
6.28%
Comparison rate p.a.1a,2
| Fees | Star Gold Owner Occupied | All Other Products (Variable Rate) |
Star Classic Fixed (1 - 3 years) |
Star Classic Owner Occupied Construction |
| Principal & Interest | Principal & Interest | Principal & Interest | ||
| Application Fee | $0 | $0 | $0 | Refer to the fees located on the Construction page |
| Annual Fee | $0 | $0 | $3953,4 | |
| Valuation Fee (per property up to $1m) | $0 | $0 | $0 | |
| Legal Preparation Fee | $0 | $0 | $0 | |
| Fixed Rate Lock in Fee (optional) |
$0 | $0 | $4953,4 | |
| Settlement Fees | $0 | $3953,4 | $3953,4 | |
| PEXA Fee | $66.333,4 | $66.333,4 | $66.333,4 | |
| Government Charges | At Cost3,4 | At Cost3,4 | At Cost3,4 | |
| Disbursements (including title search fees) | $1503,4 | $1503,4 | $1503,4 | |
| Discharge Fee | $5355 | $5355 | $5355 |
Homestar Finance has been providing Australians with competitive and customer-focused home loan solutions since 2004.
Our dedicated team of loan specialists are there to support you through your home loan journey, and take the time to get to know you so we can offer our customers a personalised service – making it easy to find a home loan solution that suits you.
Investor Home Loan
Home Lender
Variable Home Lender
Variable Home Lender
Investment Variable Home Lender
Investment Variable Home Lender
An owner-occupied home loan is perfect for people who are wanting to live in their own property.
Owner-Occupied home loans are suitable for purchases, refinances and construction.
It is possible to change from owner-occupied property to an investment property, and if this occurs then the features will dissolve and new conditions will be implemented for the changing nature of the property. There are many features of an owner-occupied home loan, including the following:
* An offset account could be available, speak to your financial consultant regarding eligibility
When applying for a home loan, a home loan specialist will assess your financial situation, employment status, and other impacting factors for your application.
Talk to our dedicated team of home loan specialists to understand all the features on offer with each home loan, we will make sure you are not paying for features you do not need by offering a solution that meets your needs.
When you take out a home loan and your application to borrow is accepted, you must pay back the principal of the loan plus interest.
The rate can be fixed or variable, sometimes with the option to have both. Some home loan specialists or providers offer interest-only loans too.
Deposits are required when taking out a home loan, normally around the 20% mark. If your loan is borrowing more than 70% of the property value, a lender’s mortgage insurance (LMI) might be required too. This is to ensure you will be able to repay your home loan.
The biggest benefit of an owner-occupied home loan is the decreased risk, compared to investment properties and mortgages for second home loans.
Owner-occupied home loans allow the borrower to live in the home for 12 months, which is usually of benefit to the borrower.
Owner-occupied home loans also carry lower interest rates, fewer fees, and different penalties than obtaining a traditional mortgage for a second home loan. If after 12 months of occupation the owner decides to sell the property, they can have a lower capital gains tax compared to if it were financed as an investment property.
Decreased risk
Lower interest rates
Fewer fees
When obtaining an owner-occupied home loan, you are required to live in the property for usually 12 months. This requirement is fundamental to the loan, and if not complied with, you could be dealing with fraudulent misconduct.
The interest rates for owner-occupied home loans are traditionally lower than investment home loans. Because borrowers for owner-occupied home loans generally have fewer risk factors compared to high-investors, the rates reflect this.
There are generally fees associated with owner-occupied home loans, including the following.
However, Homestar offers home loan products with limited and some with no fees.
Lenders are generally looking for people with a stable income to be able to repay their loan as per their loan agreement. Lenders have a duty of care to ensure borrowers meet their credit criteria.
Your home loan pre-approval application can be done completely online via our form with no paperwork involved! The form takes only 5 minutes to complete, and you can save your progress and finish at any time.
Get startedTalk to us about your home loan needs and we will package up a home loan with the features you want and tailor the rate to your circumstance.
The biggest difference between owner-occupied and investor loans is the nature and intention of the property.
Owner-occupied loans are for people who are planning on living in the property as residents.
Investor loans are for people who want to use the property as a rental and not a family home.
You can do this after the allocated period has lapsed, generally 12 months. If you want to rent your home out before the allocated period you will likely be subject to fees and costs associated with investment properties rather than residential properties.
Generally speaking, yes, you can get another mortgage.
However there may be restrictions surrounding the second mortgage, and you will need to consult with your financial adviser. You will likely need to meet conditions specific to your current financial situation, such as having repaid a certain amount of your current mortgage or having other financial assets available as borrowing power.
You can save money on an owner-occupied home loan because there are fewer costs involved. For example, the fees and interest rates are lower than an investment property home loan. As well as these lower rates, there are added fiscal benefits of obtaining owner-occupied home loans such as tax deductions and government grants.
Overall, the combination of these benefits allows for more favourable conditions to save money, as less money is being invested in the property.
1 Rates shown apply to new eligible Owner Occupied loans only, loan limits may apply depending on your product (refer to the product page) and at least one applicant is on PAYG employment. For fixed rate loans, after the 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.
3 Third party cost(s) incurred by service provider(s) are payable and may vary or increase depending on the service provider, nature of the service and request. Any additional cost(s) are passed on directly to the applicants(s). If there is a variation or an increase, a separate quote will be provided..
4 Disbursements may also be payable.
5 Discharge fee is waived if loan reaches full term as per the loan agreement.
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 15th November 2023 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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