HomeStar Gold Loyalty Home Loan
Posted December 13th, 2010
and last modified May 16th, 2012
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
The HomeStar Loyalty Home Loan is great and it is only going to get better. Most never think they will find a mortgage that actually promised a reduced interest rate, but HomeStar make it possible. This new mortgage product is offering a .15% interest rate drop after five years on mortgages of more the $750K. They also promise to keep interest rates low for the life of the loan, right now those rates are pretty impressive at just a 6.15% comparison rate. The interest, like most loans is calculated daily and added to the loan monthly.
You can choose your repayment to be either principal and interest or interest only for up to five years. Those options make it easy for you to figure out just how much you are going to spend on your mortgage in the long run. The best part is with a term option ranging from ten to thirty years you can make it work to suit your monthly budget.
A great many consumers are probably very skeptical of these alleged great deals offered by big banks. It almost always turns out that when you read the fine print the money you save on the deal winds up being paid in some other fee somewhere else in the mortgage contract. This is simply not the case with a HomeStar Gold Loyalty Home Loan.
Recognising Consumer Demands
They seem to have figured out that what we as consumers really want is a little bit of recognition for giving them our valuable business. To do that they are knocking out all those little charges that add up to big money on mortgages. When you apply for a mortgage it will cost you nothing. Not one dollar in an application fee.
You will also not be charged and ongoing or monthly account fees. On top of that there are no annual fees, no transaction fees, and no redraw fees. Really, the only extra money that you absolutely have to pay is in those very reasonable interest rates.
If you are new to the home mortgage game you might not understand how valuable it is to have free redraw. This is when you draw out any extra repayments that you have made to your mortgage. The beauty of making extra repayments is that it reduces the amount you will be charged interest on, which cuts down on your overall cost. Sometimes people shy away from making extra payments because they worry that they will need their cash later on. With free redraw and no minimum redraw amounts you can forget that concern. Your money is always there for you. It is kind of like having a savings account, only the benefits to it are incredibly beneficial.
As a matter of fact, the only time my HomeStar Gold Loyalty Home Loan might incur fees is if you pay off your debt early. They do charge deferred establishment fees in the first five years to recoup their costs. But, don’t worry they are not trying to break you on these fees either. If you repay your full mortgage within year one the charge is 1.0% of the loan amount. From there it reduces by .2% each subsequent year until you hit year six. After year six you are free to pay off your loan without incurring any added fees. This company does what the big banks are not willing to do which is make it worthwhile for you to pay off your mortgage quickly. But, even if you cannot do that you won’t spend a fortune during the life of my mortgage in fees and interest.
Read the HomeStar Gold Loyalty Home Loan terms and conditions.
| Minimum Loan Amount | $750,000 | |
|---|---|---|
| Maximum Loan Amount | $2,000,000 | |
| Maximum LVR | 95% | |
| Maximum Insured LVR | 90% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | No | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 6.23% | |
| Comparison Rate | 6.15% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | No |
| Application Fee | $0 | |
|---|---|---|
| Service Fee | $0 | |
| Settlement Fee | $0 |
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 |
 
|
 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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