Revert rate after 36 months
Revert rate after 60 months
View our Star Choice product brochure
We value our customers who choose to be part of our wonderful Homestar Finance family. This why when you stay with us for longer, you can now reap the rewards!
A revert rate is the interest rate that your home loan returns (or reverts) to after the introductory rate period ends. With most home loan providers, the revert rate is typically higher than the standard variable rate you could get from the same lender – but in this case we’ve made it lower just for you!
Your loyalty will be rewarded with an interest rate drop:
85% Loan to Value Ratio (LVR)1 lends will be rewarded with a 0.50% rate reduction after 36 months
90% Loan to Value Ratio (LVR)1 lends will be rewarded with a 1.00% rate reduction after 60 months
Note: This 0.50% or 1.00% discount will be calculated on your current standard variable rate at the time the discount is applied. Variable rates are subject to change without notice, and there is no standard variable rate that applies to all Homestar Finance home loans. If you’re an existing customer, you can confirm your current rate(s) by accessing your online account or by reaching out to our customer service team.
See what you could potentially save in up-front or monthly repayment costs with our Lender Paid LMI Star Choice home loan.
| 10% Deposit scenario | Upfront premium LMI | Lender Paid LMI premium |
|---|---|---|
| Purchase price | $500,000 | $500,000 |
| Deposit (10%) | $50,000 | $50,000 |
| + Settlement costs (inc. stamp duty) | $25,000 | $25,000 |
| Minimum funds required | $75,000 | $75,000 |
| + Upfront premium LMI cost | $11,865 | $0 |
| Total Loan | $461,865 | $450,000 |
|
Savings: $11,865 |
||
| 15% Deposit scenario | Upfront premium LMI | Lender Paid LMI premium |
|---|---|---|
| Purchase price | $500,000 | $500,000 |
| Deposit (15%) | $75,000 | $75,000 |
| + Settlement costs (inc. stamp duty) | $25,000 | $25,000 |
| Minimum funds required | $100,000 | $100,000 |
| + Upfront premium LMI cost | $6,810 | $0 |
| Total Loan | $406,810 | $425,000 |
|
Savings: $6,810 |
||
Check out our rates and consider your options.
|
Rates |
||
|---|---|---|
| Loan-to-Value Ratio1 | Interest Rate2 | Comparison Rate^ |
| Variable - Up to 70% LVR1 | 5.99% p.a.2 | 5.99% p.a.^ |
| Variable - Up to 80% LVR1 | 6.09% p.a.2 | 6.09% p.a.^ |
| Variable – Up to 90% LVR1 | 6.54% p.a.2 | 6.54% p.a.^ |
| Fixed (5 years) – Up to 80% LVR1 | 5.75% p.a.2 | 5.97% p.a.^ |
| Fixed (2 year) – Up to 80% LVR1 | 5.85% p.a.2 | 6.07% p.a.^ |
| Fixed (1 year) – Up to 80% LVR1 | 6.95% p.a.2 | 6.21% p.a.^ |
| Variable - Up to 80% LVR - P&I1 | 6.39% p.a.2 | 6.42% p.a.^ |
| Variable - Up to 80% LVR - Interest only1 | 6.79% p.a.2 | 6.82% p.a.^ |
| Fixed (1 Year) - Up to 80% LVR - P&I1 | 7.35% p.a.2 | 6.52% p.a.^ |
1 LVR means ‘Loan to Value Ratio’. It is the amount of your loan divided by the valuation of your property, calculated as a percentage. For example, if you apply for a loan of $400,000, which will be secured by a property valued at $500,000, your LVR is 80%.
2 Rates shown apply to new eligible Owner Occupieda or Investment home loansb only, loan limits may apply depending on your product (refer to the product page) and at least one applicant is on PAYG employment. 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.
^ Comparison rates are based 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.
|
Fees |
Owner Occupied Variable Products Principal & Interest |
Owner Occupied Fixed Rate Product Principal & Interest |
Investment Variable Rate Principal & Interest |
Investment Fixed Rate Principal & Interest |
|---|---|---|---|---|
| Application Fee | $0 | $0 | $0 | $0 |
| Annual / Monthly Fee | $0 | $0 | $0 | $0 |
| Valuation Fee (the minimum cost will be covered, any additional expenses incurred due to travel or properties greater than $1m in value may incur a fee) Valuation Fee (the minimum cost will be covered, any additional expenses incurred due to travel or properties greater than $1m in value may incur a fee) | $0 | $0 | $0 | $0 |
| Lenders Legal Preparation Fee | $0 | $0 | $0 | $0 |
| Fixed Rate Lock in Fee (optional) | $0 | $4953 | $0 | $4953 |
| Settlement fee | $0 | $3953,4 | $3953,4 | $3953,4 |
| PEXA Fee | $66.333 | $66.333 | $66.333 | $66.333 |
| Government Charges | At Cost3 | At Cost3 | At Cost3 | At Cost3 |
| Disbursements (including title search fees) | $1503 | $1503 | $1503 | $1503 |
| Discharge Fee | $5955 | $5955 | $5955 | $5955 |
| Break Cost | $0 | Varied6 | $0 | Varied6 |
Other fees and charges may apply.
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 18th April 2024 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.
Contact our friendly team or fill in this form and we’ll get back to you pronto.
Our friendly team can help you find the right solution for your refinancing needs.
Gather your documents to make the application as smooth as possible.
If you meet certain criteria, you could be eligible for an extra speedy approval.
Australians deserve a better deal. That’s why we’ve been challenging the market and rewriting the rulebook, since 2004.
By listening and understanding what’s important to property owners, we’ve developed a customer focused approach that helps thousands of property owners feel in control and save money every day.
Great customer service and competitive rates
Amazing service from the retention team, they were very efficient, fair and straight to the point. From the moment I first contacted them, to the last step of getting my rate updates in the system, everything was done and dusted within 10 days. I had a lot of queries, so I’m sure they would have done it in less than a week! Read more
Cheap and cheerful home loans
We have been with Homestar for over 5 years now and we are very satisfied with their service. Rates are fantastic too. Some of the cheapest on the market for a full featured mortgage.
We are renovating and have had to top up our loan a few times and Homestar has always been easy to deal with. Read more
Great Product and Customer Service
My dealing with Homestar has been exceptional from initial enquiry through to settlement whilst refinancing my SMSF property. By far the sharpest rate in the market with prompt and clear communication the entire way. Highly recommend this lender and SMSF mortgage product. Read more
John and Michel were fantastic- the entire process was smooth and both were very responsive
Beats any bank hands down. Their Service was top notch and thorough and helped me navigate my way around what could have been a challenging process give mine was spread between a Top Up and an investment loan. Read more
Great customer service
I’ve been a Homestar customer for a few years now, and recently requested a switch to a more competitive product. I’ve been impressed by the quality of the customer service (especially Regina from the Retentions team), and have had friendly & professional responses throughout the process. Importantly, the turnaround time has been super quick, with minimal time spent on hold / waiting for email responses. Read more
For great rates, great savings and great service, Homestar Finance has you covered. Fill in your details to connect with a dedicated lending specialist who will guide you through your purchase or refinancing options.
Our Lender Paid LMI Star Choice home loan can help make your dream home ownership a reality – sooner rather than later.
Star Choice enables property owners achieve this by putting their deposit money toward the purchase – and not Lenders Mortgage Insurance (LMI) premiums, letting you pay off your home loan faster! And better yet, by not charging LMI, we can help you save thousands up-front on a purchase or refinance.
Lenders mortgage insurance (LMI) is an insurance policy which covers the mortgage or home loan lender against any losses they might incur in the event that the borrower can no longer pay loan repayments (known as defaulting on the home loan). For Australian home loans, LMI is a one-off, non-transferrable, non-refundable fee that’s added to your home loan.
The individual circumstances and terms of your home loan will usually affect whether Lenders Mortgage Insurance can apply. This includes when you restructure your home loan, top it up or refinance. This is because there may be an increased risk associated with each application. Most lenders require borrowers to take out LMI where there is increased risk or higher potential of significant risk associated with your loan.
Lenders Mortgage Insurance is typically calculated based on the size of your deposit and how much you’re looking to borrow on your home loan. Lenders Mortgage Insurance is designed to protect the lender against any losses incurred if the borrower is unable to repay their home loan on time.
You should always compare your available home loan features and options, product disclosure statements and any other relevant terms and conditions before making a decision on any kind of insurance offer.
The initial costs of LMI typically varies by the size of the home loan and the Loan to Value Ratio (LVR). The cost can also depend on what type of borrower you are – for instance, first-time borrowers often pay a higher LMI than existing borrowers, even with the same LVR and home loan amount. Those refinancing their existing home loan, on the other hand, may expect to pay a lower premium.
LMI can be worth the cost in circumstances where you don’t have the time to save up an initial 20% deposit amount. In a property market where prices can rise faster than you can save, or if there’s a rare, limited-time opportunity for you to purchase your dream home at a reasonable price, getting in faster and paying the extra fee can provide you a better deal.
LMI premiums can be paid as an one-time payment at loan settlement, or added to the overall home loan amount and paid off with the regular mortgage repayments. However, this option means the LMI premium will create interest (costing you more over the long term). Most home loan lenders generally prefer LMI paid upfront, but the option is usually there if your circumstances require.
All you need to begin your application online are details of your income, current credit obligations (like personal loans and car loans), available credit limits (from credit cards, store cards and interest fee accounts) and the amount you are looking to borrow.
In general, we do not offer face-to-face appointments because this would significantly add to the cost of providing you with your loan. We would need to pass this cost on to you in the form of higher interest rates or fees – which we really do not want to do! Our Lending Specialists use great loan processing technology so that we can do all the things that you would typically expect in a face-to-face loan application process by phone- and we can do it in a fraction of the time that a face-to- face meeting would take.
Lenders Mortgage Insurance (LMI) is insurance that protects the lender in the event the borrower defaults and the security property is sold and the funds from the proceeds of the sale are not enough to discharge the loan. The LMI then pays the Lender the shortfall. The rights to recover the shortfall from all of the parties on the loan (borrowers) are then transferred across to the LMI who will pursue the shortfall. The cost of LMI insurance is a one off payment at the start of the loan. It is usually added to the loan amount and should not be confused with Building Insurance or Income Protection Insurance
A comparison rate is a legislated calculation which gives consumers an idea of the actual cost of the loan, as it includes the interest rate and the standard fees applicable to that loan. It avoids consumers being misled by lenders advertising a lower interest rate, but charging high fees to compensate for the low rate.
1 LVR means "Loan to Value Ratio". It is the amount of your loan divided by the valuation of your property, calculated as a percentage. For example, if you apply for a loan of $400,000, which will be secured by a property valued at $500,000, your LVR is 80%.
2 Rates shown apply to new eligible Owner Occupieda or Investmentb home loans only, loan limits may apply depending on your product (refer to the product page) and at least one applicant is on PAYG employment. 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.
3Third 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.
4Disbursements may also be payable.
5Discharge fee is waived if loan reaches full term as per the loan agreement.
6The break cost fee varies based on several factors, including the number of days left on the fixed rate period, the amount the market rate has moved, the outstanding loan amount and remaining cash flows. Refer to Fact Sheet: Break Cost to find out more.
^ Comparison rates are based 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 21st April 2024 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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