
BUY Your First Home
Purchase an existing property

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Interest Rate: From 5.59% p.a. (P&I at 80% LVR) (1)
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Comparison Rate: From 5.59%p.a. (1)(2)

Max Loan to Value Ratio: 90% (1)

A seamless process
Our goal is to provide you with a loan that fits your lifestyle, so you can focus on finding the perfect property and moving in sooner. Our coaches give guidance and support throughout the process, so you can confidently take the next step towards owning your own home.
BUY Your First Home FEES
Application Fee | $ - |
Annual/Monthly Fee | $ - |
Valuation Fee (5) | $ - |
Legal Preparation Fee | $ - |
Settlement Fee (3) | $ 395.00 |
PEXA Fee (3) | $ 66.33 |
Government Charges (3) | At Cost |
Disbursements (3) | $ 150.00 |
Discharge Fee (4) | $ 595.00 |
Unlimited Transactions (No Fees) | Bpay; Pay Anyone; Direct Debit; Salary Crediting |
Disclaimer
1 Rates shown apply to new eligible owner occupied loans only, up to 80% LVR, loan amount min of $150k, up to max of $2m 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 overtime.
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.
2 Comparison rates are based on a basic Homestar loan, 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.
3 Third 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.
4 Discharge fee is waived if loan reaches full term as per the loan agreement.
5 For Metro locations under $1m.
Other fees and charges may apply.
Key Features | |
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Construction/vacant land | No |
Repayment method | Salary credit/direct debit |
Make additional payments | Yes, unlimited |
Transaction functionality | Internet, phone, BPay (pay anyone) |
Repayment frequency | Weekly, fortnightly, monthly |
Multiple loan splits | No |
Visa debit card | Yes |
Offset account | Yes |
Rate reduction | Rate reductions at 80% LVR by request of principal limit reduction |
Residential | Established or new property |
LMI applicable | LMI is required. Paid by a lender |
Maximum loan amount | $1,350,000 (Metro)
$1,000,000 (Non-Metro) |
Maximum LVR | 90% |
Maximum loan term | 28 years |
Payments | Principal & interest |
Simple product requirements | |
---|---|
Property purpose | Purchase Residential owner occupied property |
Credit history | Clear credit history |
Employment type | PAYG/Self employed
Full income documentation |
Acceptable borrowers | Australian citizens or permanent residents |
Frees and options | |
---|---|
Legal fees
(exc disbursements) | $275 |
Discharge fee | $1,500 |
Exit/Break fees | Nil |
Interest only option | N/A |
Valuation fee | At cost |
Application fee | Nil |
VISA debit/Offset account | Included on all products at time of application |
Annual fee | Nil |
Your Guide to Affordable Homeownership
1
Meet Your Coach
Let us pair you with a dedicated home loan coach. They’ll provide guidance to help you through the home buying process.
2
Create a Savings Plan
Your coach will estimate your borrowing power and provide budgeting advice, made easy with our MFL Success Tracker app, so you can save confidently for your new home.
3
Get Your Loan
When you're ready, apply for and secure the loan you need to purchase your first home.
