HomeStar Fixed Rate Loan (3 Years)
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
Why do so many people run into problems paying their home loans? Although the rising cost of living and a shaky job market don’t help, rising interest rates are one of the main causes of home loan debt, and the problem doesn’t seem to be getting any better.
Fortunately fixed rate loans can ease the worry of sudden spikes in interest rates by giving buyers the security of consistent payments for however long they fix their rate for.
HomeStar has a range of home loans that offer a special fixed rate, and currently the most popular is the 3 year fixed deal. Let’s have a look and see how this home loan could save you money, whilst offering you much needed peace of mind in an uncertain economy.
Inside the HomeStar 3 Year Fixed Rate Home Loan
The main feature of any fixed rate loan is the secure interest rate there is to protect you from any rise in payments. At time of press the current rate on this 3 year deal is 6.05% (6.22% by comparison).
It means that your repayments won’t change in the first 3 years of the deal, even if national interest rates were to double. You’ll know exactly what you pay each month and can get into the habit of budgeting.
So, other than the low fixed rate, what are the other features of the product?
Borrowing limit- $150,000 – $2,000,000
Term of loan- Anywhere between 10-30 years
Repayment terms- Weekly, Fortnightly, and even monthly
Over-payments- You can make over-payments at any time without penalty
Redraw- You are able to borrow money back whenever you need to
Loan-to value ratio- 95% on new purchases (You’ll need mortgage insurance to borrow this much), or on refinances (Again you’ll need insurance to borrow this amount)
Apart from the fixed rate, a number of these features make this a very attractive home loan offer. The fact you’re allow to make over-payments whenever you want without penalty means when you have spare money you can reduce the amount of capital outstanding, and this in turn will reduce the amount of interest you’ll pay overall.
During a time when money is tight it’s useful to have a free redraw facility. Ideally you don’t want to use it, but if you do ever get stuck for money it will probably be the cheapest way to borrow.
The HomeStar 3 year fixed rate loan is a 4 star Cannex rated product, and such industry recognition isn’t given freely so you know you’re in good hands.
Application is seamless and can be done over the phone or Internet. You can receive pre-approval in some cases, but you’ll generally need to have an exemplary credit history. On the whole if you want the security of a popular industry brand, coupled with a low fixed rate for 3 years then this deal from HomeStar is well worth your consideration.
Read the official terms and conditions
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
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 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
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 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
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 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
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