Homestar No Fee 100% Offset
Posted September 11th, 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
Homestar is a non bank lender who can offer competitive interest rates along with no fees as well as fast personal service, because it hasn’t the costs carried by larger banks. It is often stated that the big four banks are safe and secure places to found your home loan but in Australia all financial organizations, mortgage lenders in particular, are closely monitored by independent government bodies and industry association to make sure your home is safe and your financial interests are well looked after.
Homestar offset with no fee is a prime example of what can be offered by one of the smaller non-bank financial bodies who source much of their business online.
Homestar offset delivers a 100 percent offset redraw with no upfront or annual fees.
The Homestar offset home loan offers home buyers a low variable interest rate, the same as the comparison rate and in addition to this there is no mortgage insurance costs to pay and no fees to worry about. A further benefit is that it all comes with full banking and Visa debit card functionality.
All these benefits make the Homestar offset the perfect home loan if you are borrowing up to 90% of property value as well as wanting an alternative interest only repayment for up to 10 years. Its an ideal way of starting your property investment career when still finding your financial feet, while all that time enjoying a 100 per cent offset benefit.
Homestar offset is available to owner occupiers, property investors or those seeking to refinance their existing residential or investment home loan, if they wish to finance between a $250,000 minimum and $1,000,000 limit on a valuation of 90% of the properties full value.
Homestar offset home loan further details include the following:
- Repayment can be arranged as principal and interest, or interest only for up to 10 years.
- Maximum term of loan is 30 years – minimum 10 years.
- Repayments can be made either, weekly, fortnightly or monthly.
- Redraw facility through a 100 percent redraw transaction account.
- 24 hour Account access via unlimited free phone transactions (IVR), internet, EFTPOS, BPAY and cheque availability per month.
- 5 free ATM transactions per month.
- Full portability.
Tax free interest earnings on your savings.
By having a Homestar offset savings account linked to your home loan you can utilize every spare dollar to assist in reducing the interest cost on your home loan, At the same time you retain full access to your savings through your normal banking transactions. You can also benefit at tax time as the interest on your savings account is calculated daily and immediately credited against the interest owing on your home loan which, literally, shows up as no taxable earnings on your savings account.
A Homestar no fee 100 percent offset home loan is simply a savings transaction account linked to your home loan. The interest earned from the money balance in your savings account is offset against the interest charges on your home loan. It can be of great benefit to investors who want to reduce their interest earnings while maintaining maximum taxation benefits. Such an account is also of benefit to home buyers who are disciplined enough to save and able to retain a healthy savings balance. If on the other hand you do not have a lot of savings, you may find the higher than normal variable interest rate could actually cost you money.
Follow the secure link here for more information and advice about whether the Homestar no fee 100% offset home loan is right for you.
Read the HomeStar No Fee 100% Offset terms and conditions.
| Minimum Loan Amount | $250,000 | |
|---|---|---|
| Maximum Loan Amount | $750,000 | |
| Maximum LVR | 90% | |
| 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 | 6.26% | |
| Comparison Rate | 6.26% | |
| 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 |
|
 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 |
|
 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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