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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)

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Max Loan to Value Ratio: 90% (1)

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Your dream of homeownership is closer than you think

Ready to buy your first home? Whether you’re looking for flexibility in your loan or features that make managing your finances easier, we’ve got the right options for you.

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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
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.

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Join Our First Home Masterclass

Discover how to break through the barriers to homeownership with a better loan

Own Your Home, Sooner Than You Think

With My First Loan, we help you get in with a smaller deposit and guide you every step of the way. We make homeownership a reality for those who feel shut out by the big banks
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