This paper considers the problem of planar homing guidance for a vehicle traveling to a beacon with unknown location and using a measurement of binary range-rate. The fundamental nature of binary range-rate is studied, and a guidance law requiring only this measurement is presented. Another guidance law utilizing both binary range-rate and heading angle is also presented, and stability is addressed. This guidance law consists of separated control and observation, and it does not require finding the closest points of approach for multiple headings. This guidance law's response to measurement corruption and observer gain is studied. Characteristics of good initial estimates are given, and an exploration method is presented that provides good initial estimates and leads to improved response. This approach provides a method of low-cost, autonomous homing guidance that utilizes a single, omnidirectional receiver to guide a vehicle to a single, omnidirectional transmitting beacon.