November 13, 2024
Self-Employed Home Loans: How to Apply
You're ready to apply for a home loan and you know you're lender wants to see your payslips and tax returns... But what if your income comes from your own…
Let’s explore your options
5.99
%
p.a.
5.99
%
p.a.
6.39
%
p.a.
6.42
%
p.a.
Great rates. Great savings. Great service.
Market leading rates
Up to 90% LVR
Say goodbye to pesky fees
Split loan into multiple portions
Digital wallet and Visa Debit card
Weekly, fortnightly or monthly repayments
Flexible features
Up to four free offset accounts
View our owner occupied or investment product brochure
Compare our competitive interest rates
Rates and fees
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.
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Talk to us about options
Our friendly team can help you find the right solution for your refinancing needs.
Apply in under 15 mins
Gather your documents to make the application as smooth as possible.
Get fast approval
If you meet certain criteria, you could be eligible for an extra speedy approval.
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
by Sandra L. on 20/03/24
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
by Gabrielle G. on 14/11/24
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
by Jonathan M. on 14/11/24
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
by Michael K. on 21/03/24
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
by Tom L. on 22/03/24
Home loan calculators
Wondering how much your repayments will be each month?
Our calculator can crunch the numbers for you.
Let's explore some of the options.
Enter loan amount
$
Loan purpose
Interest Rate
Your
repayments could be:
$
Owner occupier, principal & interest, 30 year loan term. Based on interest rate of 5.99%2a and comparison rate of 5.99%2a,^
Owner occupier, principal & interest, 30 year loan term. Based on interest rate of 6.09%2a and comparison rate of 6.09%2a,^
Owner occupier, principal & interest, 30 year loan term. Based on interest rate of 5.75%2a and comparison rate of 5.97%2a,^
Owner occupier, principal & interest, 30 year loan term. Lenders Mortgage Insurance still to be applied. Based on interest rate of 6.54%2a and comparison rate of 6.54%2a,^
Investment home loan, principal & interest, 30 year loan term. Based on interest rate of 6.39%2b and comparison rate of 6.42%2b,^
Investment home loan, interest only, 30 year loan term. Based on interest rate of 6.79%2b and comparison rate of 6.82%2b,^
Ready to take the next step?
Our loan specialists are ready to help you.
Estimates only. Want to explore how this calculation works?
The results from this calculator should be used as an indication only. Repayment is principal and interest, or interest only, dependent on the product and based on a 30-year loan term. Changes in interest rates, repayment frequency and loan term will affect the repayment and savings amounts.
Fees and charges are payable. It's important to note that the calculations do not consider fees, charges or other amounts that may be charged to your loan. If you borrow more than 80% of the property's value, Lenders Mortgage Insurance may apply. Any additional amounts will increase the repayments and decrease the savings under the loan, so factoring them in is crucial.
Lending is to approved applicants only, and all lending is subject to a detailed credit assessment.
This is general information that does not take into account your objectives, financial situation, or needs. Before acting on it, consider the appropriateness of the information.
Calculate your repayments in more detail by visiting the link below.
Wondering how much you can borrow, how much stamp duty you be required to pay or how much you can save by refinance? Check out our range of handy calculators.
Frequently Asked Questions
What do I need to know before applying?
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. To explore the benefits of offset accounts, go ahead and read this article – Offset Account FAQs – your top questions answered
Can I apply for a Homestar Finance home loan face-to-face with a lending specialist?
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.
What is a comparison rate?
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.
Get more than a better deal with Homestar Finance.
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.
November 13, 2024
Conveyancing Fees Explained: How Much Do They Cost?
You've got your sights set on your dream property and you've planned out your budget; but have you factored in conveyancing fees? Conveyancers guide you through the legalities of buying…
November 11, 2024
Can You Have Multiple Offset Accounts For Your Home Loan?
Offset accounts offer a convenient and flexible way to save money on interest and pay off your home loan faster. Whether you're thinking about refinancing your home loan or simply…
Our disclaimers
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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