HomeStar Premium Offset $400k Home Loan
Posted May 4th, 2011
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 Home Loans: Why Go with a Smaller Financial Institution
There is often a misconception amongst many that using a major bank is the only way to get a value-added secure home loan. The smaller home loan focused mortgage companies such as Homestar, however, have completely changed this view. As a financial institution that only focuses on home loans and has primarily, an online marketing strategy, Homestar has used this specialisation to provide extremely competitive home loan deals. For those concerned that a smaller financial institution could lead to a less regulated and professional service offering, think again. The banking environment is very strictly regulated and as far as service levels are concerned, Homestar have won numerous awards as a testimony of their product and service excellence.
The Premium Offset $400k Home Loan – A Great Low Interest, Feature Rich Home Loan
As mentioned above, the competitive edge that non-bank home loan lenders have allows them to provide some great new offers to the market – the Premium Offset $400k Home Loan is innovative and very competitive. This home loan is for higher value home loans between $250,000 and $1,000,000, and especially for those individuals looking for a redraw facility on excess funds in a home loan. All offset amounts available in the home loan are 100% available with a linked Visa debit card, making it extremely easy to redraw the money available.
To Summarise the Key Features
- Zero fees when redrawing and a bonus drop rate
- Offset functionality on 100% of available funds
- Linked Visa Debit card to make access easier
Other Features of the Premium Offset $400k Home Loan
Over and above the key features, the Premium Offset $400k Home Loan has other features which not only make this a more attractive offering, but user-friendly when it comes to tracking and account management.
These features include:
- Flexibility of financing types: Residential and investment property purchases, refinancing of existing property
- Loan minimum and maximum value: $250,000 – $1,000,000
- Period of loan: 10 – 30 years
- Interest only payments can be arranged for up to 10 years or conventional principal and interest repayments
- Payments can be made either monthly, fortnightly or weekly
- Payments over and above the repayment amounts can be made at any time through one of the many payment options available
- For individuals looking for the security of a fixed interest rate, this can be converted from a variable rate at any time and vice versa
- The loans can be split to a maximum of 4 splits
- Redraw facility can be paid to any building society, bank or credit union directly from your home loan or can be drawn from the Visa-linked debit card
- The loan to value ratio is a maximum of 90% of the value of the underlying asset
- Free transactions include: Unlimited IVR (free phone), biller payments, cheques and 5 free transactions via ATM per month
Using the Features on the Premium Offset $400k Home Loan as a Tax Saving
The offset facility allows the borrower to have extra cash saved in the home loan itself. Any interest earned will be offset against any interest payable on the home loan. This makes huge financial sense as a part of your property’s interest is paid by the bank, but the interest earned being offset is tax free. Whereas, should the interest have been earned in cash in a fixed deposit or money market account there would be a tax implication on that interest.
For anyone looking for a low interest feature-rich home loan offering flexibility and easy management, the Premium Offset $400k Home Loan is a home loan that must be considered as a serious contender.
Read the HomeStar Premium Offset >$400k Loan terms and conditions.
| Minimum Loan Amount | $250,000 | |
|---|---|---|
| Maximum Loan Amount | $1,000,000 | |
| 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 | 6.21% | |
| Comparison Rate | 6.21% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | No |
| Application Fee | $0 | |
|---|---|---|
| Service 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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